June 23, 2010 / 5:59 AM / 8 years ago

Taiwan, China to sign trade deal June 28-30: sources

TAIPEI (Reuters) - Taiwan and China will sign a landmark trade deal between June 28 and 30 in the Chinese city of Chongqinq, opening the way for a major boost to around $100 billion in annual two-way trade.

Two sources close to the talks confirmed reports in local newspapers on the timing of the signing.

One of the sources said the deal would initially list more than 530 Taiwanese items that would be free of tariffs or have tariffs lowered in the mainland. Earlier reports had said the number of items would be 530.

About 260 mainland products would receive the same benefits in Taiwan.

The two sides are set to hold talks to prepare for the signing in Taipei on Wednesday and are likely to announce final details on Thursday.

Taiwan’s government has been heavily pushing the deal, called the economic cooperation framework agreement (ECFA), fearing the country’s $390 billion export-led economy will lose out to rivals in the booming Chinese market.

The deal will be the most significant agreement between the former political foes in 60 years, but opponents fear it will unleash a flood of cheaper Chinese goods, costing jobs in Taiwan, and will be the first step to a political takeover by China.

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