Pact opens up dialogue

The Cross-Straits Service Trade Agreement was signed on June 21, 2013, in Shanghai by the mainland-based Association for Relations Across the Taiwan Straits and the Taiwan-based Straits Exchange Foundation.

Founded in 1991 and 1990, the ARATS and SEF are authorized by the mainland and Taiwan to handle cross-Straits negotiations and the signing of agreements.

To lower the market access threshold for service providers from both sides, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland, according to the service trade pact.