Economic Cooperation Framework Agreement (ECFA)

The Economic Cooperation Framework Agreement (ECFA) is a trade agreement between Taiwan and Mainland China, signed in 2010. Its main purpose is to reduce tariffs and improve trade relations between the two economies. By lowering barriers, ECFA aims to boost economic ties, increase exports, and create job opportunities. It covers various sectors, including goods, services, and investment, promoting closer cooperation. While it has benefits like increased trade, it also raises concerns about economic dependency on China. Overall, ECFA represents a significant step in Taiwan-China economic relations, reflecting their complex political and economic landscape.