The Economic Cooperation Framework Agreement between the Chinese mainland and Taiwan, is expected to boost Taiwan's economy and employment.

Taiwan authorities predict the ECFA will boost the local economy by 1 percent. And bring 60 thousand job opportunities.

When the agreement takes effect, Taiwan companies will be able to expand their markets on the mainland. Local authorities are also working on plans to support underdeveloped industries.

The International Monetary Fund has increased its forecast for Taiwan's economic growth, mostly thanks to the ECFA.