Cooperation deals agreed by both sides in cross-Strait talks
Source: Xinhua |
August 10, 2012, Friday
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Print Edition
Print Edition
CHINESE mainland and Taiwan negotiators signed two cross-Strait agreements yesterday, one on investment protection and promotion, the other on customs cooperation.
The two pacts were signed by Chen Yunlin, president of the mainland-based Association for Relations Across the Taiwan Straits and Chiang Pin-kung, chairman of the Taiwan-based Straits Exchange Foundation, at their talks in Taipei.
In the protection and promotion agreement, the two sides pledged to offer "just and fair treatment" to their respective investors and investment projects and provide full protection and security.
They also agreed to gradually remove restrictions on investment projects, create a fair environment and promote two-way investment.
The two sides also agreed on a dispute settlement mechanism with several settlement options, including negotiations between disputing parties, local dispute settlement authorities, the investment division of the Cross-Strait Economic Cooperation Committee and local courts.
The division will brief both sides on the results of dispute settlements and offer investment-related consulting services.
The agreement promises to provide equal, if not preferential, treatment for investors from both sides. Each side will treat investors from the other side the same way it treats those from other countries or regions, if not preferentially.
However, the agreement only concerns future policies. Both sides promised to gradually remove existing policies not in line with the agreement.
In terms of cross-Strait customs cooperation, the two sides will simplify procedures, improve the clearance efficiency and enhance effective supervision of cargo in order to facilitate the implementation of the Economic Cooperation Framework Agreement.
The agreement also aims to boost the convenience and safety of cross-Strait trade, the application of information technology and the development of paperless customs clearance.
The two sides also issued a statement of understanding on personal freedom and safety issues related to the agreement.
According to the document, after detaining a Taiwanese resident who works for a Taiwan-invested company on the mainland, mainland police will be required to inform his or her relatives of the detainment within 24 hours.
If the relatives do not live on the mainland, police should inform the detainee's employer.
The same rules will apply to Taiwan police.
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