Head of Association for Relations across the Taiwan Straits and head of Straits Exchange Foundation signed in Taipei on August 9 the Cross-strait Investment Protection and Promotion Agreement (hereinafter referred to as the "Investment Protection Agreement"). MOFCOM spokesman Shen Danyang made a comment that the Investment Protection Agreement is the first follow-up agreement signed since the "Cross-Strait Economic Cooperation Framework Agreement" (hereinafter referred to as the "Framework Agreement") was implemented, which reflects the features of Mainland and Taiwan, and is an important institutional arrangements complying with the peaceful development of cross-strait relations.

Shen Danyang said that the signing of the Investment Protection Agreement is conductive to protection of the interests of the investors on both sides of the Strait, to reduction gradually of restrictions on investment, and to creation of a fair investment environment, so as to promote two-way investment and economic prosperity on both sides of the Strait.

Shen Danyang pointed out that the signing of the Investment Protection Agreement is of great significance in bridging the past and future for institutionalized economic and trade cooperation across the Strait. In days to come, the two parties will speed up negotiations of the follow-up agreements in services trade, goods trade and dispute settlement process in accordance with the regulations of the Framework Agreement, keeping enriching and strengthening institutionalized arrangements. And MOFCOM will work with relevant departments to implement the Investment Protection Agreement, so that people across the Strait could benefit more from trade and investment facilitation, making greater contributions to the development of cross-strait economic prosperity.

(All information published on this website is authentic in Chinese. English is provided for reference only.)