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    » 08/09/2012, 00.00

    TAIWAN - CHINA

    Beijing and Taipei sign new trade agreements



    New deal provides greater legal protection and cuts custom red tape. Investors in China and Taiwan are promised equal, if not preferential, treatment. In case of arrest, police must inform families and companies on the other side. In Taiwan, people protest deal fearing mainland colonisation of the island.

    Taipei (AsiaNews/Agencies) - China and Taiwan signed a landmark investment pact on Thursday. The agreement cuts red tape at customs and includes safeguards against sudden expropriation of property. It also gives individual investors some protection in the case of legal trouble with authorities.  Outside the venue where the deal was signed, hundreds of protesters demonstrated against Beijing's possible colonisation of the island.

    Beijing's chief negotiator Chen Yunlin and his Taiwanese counterpart Chiang Pin-kung inked the long-awaited deal, which will provide a legal umbrella for Taiwan companies in the mainland should they face the authorities or possible seizure.

    Chen and Chiang also signed a cooperation pact to speed up customs procedures in the hope of boosting two-way trade.

    In the agreement, the mainland and Taiwan promised to provide equal, if not preferential, treatment for investors from both sides.

    In cases of Taiwanese nationals working 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. The same rules will be applied to Taiwanese police.

    The new deal comes in the wake of agreements signed in 2010 that improved trade relations, two-way tourism and investments.

    Not everyone in Taiwan likes the deal. Barbed wire and about 1,300 police officers were deployed around the meeting venue where the two delegations met to keep at bay about 700 protesters.

    Many Taiwanese are afraid that Taiwan's reliance on the mainland could become too much. Used to democracy, they are concerned about the dictatorial nature of China's government.

    Relations between China and Taiwan improved in 2008 with the election of Ma Ying-jeou as president, who began a policy of rapprochement and friendship with Beijing after the turbulent years of pro-independence President Chen Shui-bian.

    The mainland is Taiwan's largest trade partner, and more than 80,000 Taiwanese companies now operate on the mainland, where they have invested more than US$ 100 billion over the years.

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    See also

    23/12/2009 CHINA – TAIWAN
    Free trade talks between China and Taiwan edging along
    Negotiators sign three deals on industrial, fishery and agricultural co-operation, but postpone any comprehensive agreement to the second half of next year. Protests continue in Taiwan over closer ties with the mainland.

    04/11/2008 TAIWAN – CHINA
    Taipei and Beijing reach historic deal on direct flights, trade, postal services and food
    On a live broadcast, Chinese and Taiwanese delegations sign deal to increase the number of flights and shipping links between the two countries. Political differences are temporarily put aside. Tight security measures are imposed to “protect” the Chinese guest from pro-democracy protests.

    06/01/2004 Israel - Vatican
    Peace, agreements with Catholic Church fail to take off


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    Nepali Prime Minister K P Sharma Oli and his Chinese counterpart, Li Keqiang, ink a series of agreements, the most important of which gives transit rights to Nepali goods. Thus, Nepal is free from dependence on Indian ports to export its goods. The deal also boosts China’s ‘One Belt, One Road’ strategy, by which Beijing wants to expand its access to markets in Europe and Africa.



    20/01/2005 CHINA - TAIWAN
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