XIAMEN, June 20 (Xinhua) -- China's top political advisor Jia Qinglin said Sunday that signing a sweeping economic pact similar to a free trade deal across the Taiwan Strait would benefit the long-term development of both economies.

Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said once signed, the Economic Cooperation Framework Agreement (ECFA), would bring new opportunities to mainland-Taiwan exchanges and cooperations.

He made the remarks at a centerpiece conference of the week-long Straits Forum which opened in the mainland's coastal city of Xiamen Saturday.

The mainland and Taiwan finished the third round of expert-level talks on the ECFA in Beijing last weekend. Despite disagreements on certain issues, both sides hope to complete the pact in June.

Wang Yi, head of the State Council's Taiwan Affairs Office, on Sunday said the ECFA negotiations have gained substantial progress and are now at the final stage.

Wang said the size of "early harvest program" of the pact has grown into "very big" and negotiators will consider and balance demands from all industries.

The "early harvest program" of the pact, which is under discussion, will include a number of industries to first benefit from tariff reductions.

The ECFA is intended to normalize mainland-Taiwan economic ties and bring the two economies closer, the pact's initiators said.