(CHEN JIANLI)

Chen Yunlin (center right), President of the Chinese mainland's Association for Relations Across the Taiwan Straits, and Chiang Pin-Kung, Chairman of Taiwan's Straits Exchange Foundation, show the documents they signed at a ceremony in southwest China's Chongqing on June 29.

The two organizations, which handle cross-Straits issues on behalf of their

respective authorities, signed the long-awaited Economic Cooperation

Framework Agreement (ECFA) and an agreement on the protection of intellectual property rights at their fifth top leaders' meeting.

Under the 16-article ECFA, the mainland and Taiwan agree to gradually

reduce and remove trade and investment barriers and create a fair environment in both areas. The agreement will formally take effect one day after both sides "complete due procedures and notify each other."

An "early harvest program" will be launched within six months of the ECFA taking effect, the agreement said. Within two years of its implementation, the two sides will apply zero tariffs to commodities listed in the program.