ECFA could add 1.83 percentage points to Taiwan's economic growth: study
Source:National Immigration Agency, Ministry of the Interior
The prospective cross-Taiwan Strait Economic Cooperation Framework Agreement (ECFA) will add 1.83 percentage points to Taiwan's GDP (gross domestic product) growth rate, mainly due to the benefits of economic liberalization, according to a study completed by Chung-Hua Institution for Economic Research, under the commission of Cross-Strait Interflow Prospect Foundation.
The stimulus effect triples that of spending vouchers, issued by the government early this year, and will benefit such industries as petrochemical, machinery, and textile, but will be disadvantageous to the electronics industry, according to the study.
The study precedes another study on the topic, carried out by another group of researchers of Chung-Hua Institution for Economic Research, scheduled for release on Wednesday (July 29), which will be an important basis for the government in pushing the signing of the agreement.
The study indicates that ECFA will benefit domestic plastic and chemical, machinery, textile, petroleum, and steel industries, due to their strong export competitiveness and the reduction of the tariffs for those products, higher than the levy in Taiwan, for their export to China, an important outlet for them.
The Cross-Strait Interflow Prospect Foundation is a think tank for ranking government officials, mainly on the topics of cross-Strait relationship and international situation.
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