Cross-Strait Investment Protection Agreement May Be Signed by Year End

Taipei, Sept. 17, 2010 (CENS)--With cross-Taiwan Strait Economic Cooperation Agreement (ECFA) having taken effect, Taiwan and China can start talk on investment protection agreement, so that it can be signed during the next meeting between P.K. Chiang, chairman of Straits Exchange Foundation (SEF), and Chen Yunlin, chairman of the Association for Relations Across the Taiwan Straits (ARATS), at year end, said Wang Yi, direct of the Taiwan Affairs Office, under the State Council, yesterday (Sept. 16).

At the opening ceremony of the first “Jiangsu Taiwan Week,” organized by Jiangsu provincial government, Wang noted that the agreement will enhance investment convenience, gradually reduce investment restrictions, and lead to the setup of an investment protection mechanism, which can alleviate the problems related to land, factory building, and business and labor-management disputes facing Taiwanese-invested enterprises in China.

Wang pointed out that ECFA represents a new chapter for cross-Strait exchanges, ushering in a new era of cooperation and mutual benefit for cross-Strait economic relationship. How to implement the agreement faithfully and benefit peoples on the two sides of the Strait, however, will entail a lengthy course of endeavor, according to Wang.

One major task, said Wang, is to fulfill the pledge of market opening for service business on the early-harvest list. Wang suggested both sides to open up service businesses on the list one by one immediately after their respective conditions have been ripe.

Wang urged both sides to step up preparation for market opening for merchandises on the early-harvest list, which will begin to be implemented on January 1, next year.

Both sides, stressed Wang, should step up exchanges in new high technologies and emerging industries, intensify financial cooperation, and push investments by Chinese enterprises in Taiwan steadily.