ECFA, the Straits Exchange Foundation and the scale of cross-strait trade
Background
The export orders and trade surplus reported from Taipei sit alongside a very large cross-strait economic relationship.
Between 1991 and the end of December 2024 approved Taiwanese investment in China comprised 45,833 cases totalling US$210.02 billion.
The value of cross-strait trade in 2024 reached US$176.28 billion.
The Straits Exchange Foundation is the semi-official body that handles civil and business matters with the People's Republic of China, dealing with the Association for Relations Across the Taiwan Straits.
Eleven rounds of negotiations produced 23 formal agreements, of which 21 came into effect, and two consensuses.
The most significant of these is the Cross-Strait Economic Cooperation Framework Agreement, concluded in June 2010.
In plain words
ECFA Cross-Strait Economic Cooperation Framework Agreement — The accord that institutionalised trade and economic relations between Taiwan and China.
SEF Straits Exchange Foundation — Taiwan's semi-official body for dealings with the People's Republic of China.
ARATS Association for Relations Across the Taiwan Straits — The mainland Chinese counterpart of the Straits Exchange Foundation.