TAIPEI, Jan. 4 (Xinhua) -- A Taiwanese official in charge of Chinese mainland affairs on Wednesday reiterated the significance of the "1992 Consensus," stressing it as an "important basis" for negotiations between Taiwan and the mainland.

Lai Shin-yuan, head of the "Mainland Affairs Council" under Taiwanese authorities, told a press conference that the core spirit of the "1992 Consensus" is to shelve disputes and negotiate pragmatically. "If this basis does not last in the future, cross-Strait relations could be thrown into uncertainty," Lai said.

In November 1992, the mainland's Association for Relations Across the Taiwan Strait (ARATS) and Taiwan's Strait Exchange Foundation (SEF) reached an agreement stating that both organizations have verbally acknowledged that "both sides of the Taiwan Strait adhere to the one-China principle." The "1992 Consensus," as the agreement came to be called, has since served as a significant basis for cross-Strait negotiations and development.

Lai said after the two sides resumed institutionalized negotiations in June 2008, the ARATS and SEF held seven rounds of talks and signed 16 agreements concerning cross-Strait exchanges in the areas of trade, health and food safety.

She said Taiwanese authorities' cross-Strait policies were successful in 2011 and the effects of several cross-Strait agreements have been noticed by Taiwanese people, especially farmers and fishermen in south Taiwan who have been the main beneficiaries of the cross-Strait Economic Cooperation Framework Agreement (ECFA) signed in June 2010.