Cross-strait
investment protection accord signed
EXPECTATIONS: The SEF chief acknowledged public
disappointment with the results of previous pacts and called for better
execution to uphold public interests
By Mo Yan-chih and Amy Su / Staff reporters
Straits Exchange Foundation
Chairman Chiang Pin-kung, right, shakes hands with Association of Relations
Across the Taiwan Straits Chairman Chen Yunlin yesterday during the eight round
of cross-strait talks in Taipei.
Photo: Sam Yeh, AFP
Taiwan and China yesterday signed two
agreements on investment protection and customs cooperation, with officials
stressing that the pacts would provide a system for protecting cross-strait
investors and create a better investment environment.
Straits Exchange Foundation (SEF) Chairman Chiang Pin-kung (¦¿¤þ©[) and Association
for Relations Across the Taiwan Straits (ARATS) Chairman Chen Yunlin (³¯¶³ªL)
signed the two agreements after a five-hour meeting at the Grand Hotel in
Taipei.
The investment protection pact would set up a mechanism to solve G2G
(government-to-government), P2P (private-to-private) and P2G
(private-to-government) disputes, and help protect the rights of Taiwanese
businesspeople in China, while the customs cooperation agreement would
facilitate customs reporting and information sharing.
The signing of the investment pact will offer cross-strait investors stronger
institutionalized protection for their property rights, management rights and
personal safety, Chiang said.
Under the agreement, investors will be able to choose arbitration institutions
in Taiwan or China to deal with their disputes. The protection extends to
Taiwanese investments in China made via a third country or area, but investors
would not be allowed to pick an arbitration institution in the third area.
An SEF official said that the Beijing government still needs to work out related
legislation for P2G commercial disputes, but added that it had seen China¡¦s
¡§sincerity¡¨ in enacting the agreement as soon as possible.
ARATS Vice Chairman Zheng Lizhong (¾G¥ß¤¤) said the pact would provide strong
protection to Taiwanese investors in China, while increasing cross-strait
bilateral investments.
As for the customs pact, companies from both sides should enjoy lower costs
after customs valuations and tariff classifications are standardized, officials
said.
During the eighth round of cross-strait talks yesterday, officials also agreed
that other Economic Cooperation Framework Agreement (ECFA) issues relating to
commodity trade, service trade and a dispute-resolving mechanism would be
discussed at the next round of talks.
Speaking at the opening ceremony, Chiang acknowledged that the implementation of
16 previous agreements ¡X including the rights of Taiwanese civilians or
businesspeople detained in China, opening Taiwan to Chinese individual tourists,
deportation of economic criminals and food safety ¡X had failed to meet public
expectations.
¡§People across the Taiwan Strait are highly supportive of systematic
cross-strait negotiations, but the implementation of some agreements failed to
meet expectations ... The two sides should join forces and examine the
implementation of agreements on a regular basis to avoid mishandling of
individual cases from damaging mutual trust,¡¨ he said.
To address concerns over the personal safety of Taiwanese businesspeople
detained or deprived of their personal freedom in China, the investment
protection pact states that Chinese authorities should inform the detainees¡¦
family members or companies within 24 hours, and allow family members and
lawyers to visit them. Taiwan is to follow the same procedures when dealing with
Chinese businesspeople detained in Taiwan.
The issue has drawn wide attention in Taiwan after Bruce Chung (Á鹩¨¹), a
Taiwanese Falun Gong practitioner, was detained in China on June 18 for what
Chinese authorities described as ¡§jeopardizing China¡¦s national security.¡¨
Chung¡¦s detention has raised concern about China¡¦s poor human rights record.
Pro-independence advocates and civic groups have questioned China¡¦s willingness
to implement the investment protection agreement and protect Taiwanese
investors¡¦ personal safety.
Chen yesterday promised that the two agreements would help foster a better
environment for investors across the Taiwan Strait and said follow-up
negotiations on the ECFA would be the priority in future talks.
The SEF and ARATS will also discuss new issues in future cross-strait
negotiations, such as technology, culture and education, which have increasingly
drawn public attention as cross-strait exchanges increased, he said.
After signing the agreements, Chiang and Chen exchanged gifts. The SEF presented
a lacquer painting featuring grapes to symbolize a fruitful cross-strait
development, while ARATS gave the SEF a pair of vases.
The two envoys did not comment on speculation that both would retire from their
posts and that this would be the last time they would be participating in
cross-strait talks.
¡§It is thanks to the team¡¦s hard work that we have achieved the signing of these
follow-up agreements after the cross-strait ECFA,¡¨ Chiang told a press
conference after the signing ceremony.
Later yesterday, the SEF confirmed that service trade would be the priority
issue in the next Chiang-Chen meeting.
Investment Commission Executive Secretary-General Fan Liang-tung (S¨}´É), who was
at the meeting, said that compared with service trade, commodity trade would be
more difficult to handle as it involves the issue of zero tariffs.
However, the SEF remained confident that the issue of commodity trade may
finally be solved following its success in signing the ECFA.
The SEF added that it expected to establish long-term bilateral contacts with
ARATS to review the execution of agreements signed to promote the welfare of
people from both sides of the Strait.
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