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Trade between HK and Taiwan Increased following ECFA
Date: 2012-02-29    Source:Ministry of Commerce Website

CHU, Wing, Economist of Hong Kong Trade Development Council (HKTDC), said on February 25, that HK-Taiwan trade in goods was up due to enforcement of cross-strait Economic Cooperation Framework Agreement (ECFA).

Mr. Chu said in an exclusive interview with reporter from Xinhua News Agency cross-strait trade was done through entreport of Hong Kong by half in the 1990s, and now it dropped to 25 percent. Though HK’s role as an entreport was weakened, HK-Taiwan trade volume was up, due to the increase in cross-strait trade.

Statistics showed that, in 2011 trade between Taiwan and Hong Kong reached US$41.82 billion, rising 11.2 percent compared to the 2010 level. Hong Kong exports to Taiwan amounted to US$10.93 billion, up 24.3 percent in 2011. Of the sum, intermediary trade accounted for US$10.55 billion, growing 25 percent year on year. Taiwan exports to Hong Kong went up 7.2 percent to US$30.89 billion in 2011. Of the sum, intermediary trade rose 4.5 percent to US$27.15 billion.

Chu commented that the implementation of the ECFA has helped expand Taiwan's exports to China, as well as Hong Kong's intermediary trade.

The HKTDC will put the emphasis on trade services in the future promotion of trade between Taiwan and Hong Kong, the economist said. Many Taiwan-based companies looking to tap the Chinese market need various support services. Hong Kong, which has long served as a trade link between China and Taiwan, provides a stepping stone for such Taiwanese companies

An HKTDC survey, conducted in November 2011, showed that Taiwan-based businesses are mostly optimistic about their development in China since the implementation of ECFA. And Hong Kong is good at providing many of the support services that such Taiwanese firms need.