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ECFA meaning in Business ?

Answer» What is Economic Co-operation Framework Agreement mean?

The Economic Cooperation Framework Agreement (ECFA) is a preferential trade agreement between the governments of the People's Republic of China (mainland China, commonly "China") and the Republic of China (known as "Taiwan") that aims to reduce tariffs and commercial barriers between the two sides. The pact, signed on June 29, 2010, in Chongqing, was seen as the most significant agreement since the two sides split after the Chinese Civil War in 1949, since neither government recognize the other as "countries". It was expected to boost the then-current US$197.28 billion bilateral trade between both sides.

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