"After it is signed, the agreement will greatly improve the openness of the service industries on the two sides of the Straits, and both sides will benefit from it."

Yang Yi, spokesman for the mainland's Taiwan Affairs Office of the State Council, said at a regular news conference on Wednesday, Xinhua News Agency reported. Yang said that the two sides of the Taiwan Straits are working on an agreement to promote cross-Straits trade in services. They will also start discussions at an appropriate time about the link between economic development on both sides and regional economic cooperation, he said.