TAIPEI -- Taiwan's former leader Ma Ying-jeou on Monday said the 1992 Consensus was the common political foundation for cross-Straits ties.

Ma, at a cross-Straits economic forum in Taipei, said cross-Straits ties achieved tremendous progress since the consensus was reached.

Together, the Chinese mainland and Taiwan signed the cross-Straits Economic Cooperation Framework Agreement (ECFA), which had saved Taiwan tariffs of up to $4.3 billion and was very helpful in lifting Taiwan's economy, Ma said, adding that a lag in subsequent agreements had distanced Taiwan from huge business opportunities on the mainland.

The number of mainland tourists has fallen sharply in the last year as the Democratic Progressive Party (DPP) has refused to recognize the 1992 Consensus, Ma said, with many travel agencies closed, hotels put up for sale and stationary tour buses.

If the DPP administration does not address the situation immediately, the consequences will be hard to predict, he warned.