Disputes that arise from investment activities by Taiwanese businesspeople in China could be referred, if necessary, to the newly established Cross-Strait Economic Cooperation Committee (CSECC) for resolution, Minister of Economic Affairs Shih Yen-shiang (施顏祥) said yesterday.
Speaking in a legislative session, Shih said that until a cross-strait investment protection agreement is concluded, Taiwanese investors operating in China should continue to refer their disputes in China to the relevant governmental agencies in Taiwan.
However, if necessary, the disputes can be brought before the CSECC, which started work earlier yesterday, Shih said.
The committee was formed after Taiwan signed the Economic Cooperation Framework Agreement (ECFA) with China in late June. It is seen as necessary to facilitate talks on the implementation, interpretation and coordination of the “early harvest” list and other ECFA-related matters.
On Jan. 1, preferential tariffs took effect for more than 700 products that are traded between Taiwan and China and that were on the ECFA’s “early harvest” list.
Panels under the committee are also expected to follow up on issues involving commodity trade, service access, dispute settlement and investment protection.
China has investment protection accords with 130 nations, while Taiwan has similar agreements with 29 countries, Mainland Affairs Council Chairwoman Lai Shin-yuan (賴幸媛) said.
The cross-strait investment protection accord is relatively complicated because of the unique relationship between Taiwan and China and their different legal systems, she said.
According to Straits Exchange Foundation statistics, in the period from January 1991 to October last year, it had received 3,969 complaints filed by Taiwanese doing business in China.
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