President Ma Ying-jeou says that parts of the controversial cross-strait trade in services agreement can be renegotiated if the need arises. Ma was speaking on Wednesday while meeting with leading figures from Lions Clubs International.
Ma said that the Economic Cooperation Framework Agreement (ECFA), an existing trade agreement between Taiwan and Mainland China, has proven beneficial to Taiwan. Ma said Taiwan’s trade surplus with China has grown by 35% since tariffs on certain goods were abolished under the terms of ECFA.
Ma said that the trade in services agreement represents a chance to further strengthen Taiwan’s competitiveness. He said he hopes the legislature will approve the agreement. Addressing concerns about the agreement’s impact on Taiwan, Ma said that certain provisions of the agreement can be renegotiated should the need arise. He said that the agreement is an opportunity that Taiwan must seize.
"I’d like to stress and let everyone know that [the agreement] will have a limited impact on Taiwan and that it will bring many business opportunities," said Ma. "Also, should any problems arise, we can make adjustments after the agreement is signed and takes effect. This has happened in the past. There is an emergency renegotiating clause and an amendment clause. In other words, it’s not that we can’t put on the brakes. There are even some areas where we can bring things to a halt. I think that since most of the agreement is in our favor, we can adjust areas that we have doubts about after the agreement takes effect. There will still be time."