Mainland hopes for speedy cross-Straits service pact

BEIJING - A Chinese mainland spokesman on Friday expressed the hope that Taiwan authorities would give a green light as soon as possible to a cross-Straits service trade pact, which was signed in June, and make it effective as soon as possible.

"We hope Taiwan will complete procedures as soon as possible so as to bring the service trade pact into effect at an early date," said Yang Yi, a spokesman for the State Council Taiwan Affairs Office.

Yang also hoped negotiations on two agreements on commodity trade and dispute settlement could also be concluded by the end of the year as planned.

Yang said the mainland's openness to Taiwan in service sectors as described in the agreement was "unprecedented" and beneficial to both sides.

"The pact can help to enhance cross-Straits cooperation, create more jobs, improve service quality, jointly cope with global economic challenges, and provide great business opportunities for Taiwan's service providers," Yang said.

If the pact does not get approval soon, "It will have a negative impact on cross-Strait cooperation," he said.

The service trade agreement is one of several follow-up agreements to the Economic Cooperation Framework Agreement, a comprehensive cross-Straits economic pact signed in 2010 to reduce tariffs and commercial barriers between the mainland and Taiwan.

The service trade pact stipulates a lower market access threshold for service providers from both sides, with the Chinese mainland to open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.