Economists from China's mainland and Taiwan called for closer economic and trade cooperation at the Cross-Strait Economic and Trade Forum held here on Friday.

Leading economist Wu Jinglian said Taiwan offers valuable lessons for the mainland as it experienced the same process of manufacturing upgrading and service sector development over 10 years ago.

The upgrading of the mainland's industrial structures would provide more opportunities for Taiwan businesses.

Sun Chen, economist and former president of Taiwan University, said if Taiwan complied with the cross-Strait market development trend and carried out economic and trade cooperation with the mainland, it could benefit the most from the mainland's rapid economic development.

However, if Taiwan hindered the development of cross-Strait trade, it would see dwindling investment and harm the interests of Taiwanese doing business on the mainland.

Hu An'gang, economics professor of Qinghua University, called for a more open attitude of the Taiwan government to promote the development of cross-Strait economic and trade cooperation.

Both sides were complementary rather than competitive, said Hu.

Restrictions on economic and personnel exchanges would increase costs of Taiwan businesses and force them to transfer investment and industries from limited Taiwan market to wider mainland market, he said.

Taiwan would benefit more than the mainland from cross-Strait cooperation and could lose more from obstacles between the two, said Hu.

Source: Xinhua