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Taiwan Says China Trade Pact Could Boost GDP

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economy July 9, 2010 (Chinavestor) Taiwan said the Economic Cooperation Framework Agreement (ECFA), the landmark trade agreement between the island nation and mainland China, could boost its GDP by 0.4% and help add 60,000 new jobs in the next two years. A boost to GDP of 0.4% is equivalent to $1.71 billion.

 

The iShares MSCI Taiwan ETF (NYSE:EWT) is down about 7% this year.

 

The trade pact will help Taiwanese exporters save about half that amount in tariffs. The agreement lifts tariffs on almost 540 Taiwanese products. The ECFA is easily the largest, most wide-ranging trade agreement between the two countries.

China is Taiwan's largest trading partner despite often tense relations between the two nations. Taiwan has been a sovereign country since 1949, but China has made clear its intention to one day control the island nation.



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