22 Sep '11, 10am

Taiwan, Japan sign investment pact

TAIPEI: Taiwan and Japan on Thursday signed an investment pact that will open the local market to Japanese business in a breakthrough in ties, officials said. The arrangement is aimed at promoting, protecting and liberalising investment flows between Taiwan and its second largest trade partner, despite the lack of formal diplomatic relations. "This is a significant deal and a breakthrough in bilateral economic relations," said vice economic minister Hwang Jung-chiou. "Many Japanese business are knocking on our door now," he said without elaborating. Under the arrangement, Japanese companies will be given the same rights as local firms so they can invest in Taiwan without the restrictions imposed on other foreign companies and vice versa. Some observers have pointed out that the pact is called an "arrangement" rather than the more official-sounding "agreement," speculating ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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