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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: China, Taiwan pledge to deepen economic ties AFP - 1 hour 12 minutes ago BEIJING(AFP) - - Citing a "rare and historic opportunity," envoys from China and Taiwan agreed to promote mainland Chinese investment on the island, in the latest step forward in rapidly improving ties. ADVERTISEMENT The agreement was reached in the eastern China city of Nanjing between top negotiators meeting for the latest round of talks that have reversed six decades of hostility, state news agency Xinhua said. A statement released after talks by Chiang Pin-kung, chairman of Taiwan's quasi-official Straits Exchange Foundation, and his counterpart Chen Yunlin said mainland Chinese investment would draw the two sides closer together. "The two sides of the Taiwan strait face a rare and historic opportunity," said their joint statement, published by Xinhua. It pledged that the two sides would "actively encourage and promote mainland businesses to... invest in Taiwan to strengthen and deepen cross-strait industry cooperation and realise the normalisation and systemisation of cross-strait economic ties." Taiwanese enterprises have invested huge sums in China over the years but mainland Chinese firms still cannot invest directly on the island without approval from Taiwan's government. Taiwan, whose economy plunged into recession late last year, has been loosening various restrictions. The joint statement said more investment in Taiwan could help both sides weather the global economic downturn. It mentioned no specific measures, saying they would be worked out later. But the agreement was the latest advance in a relationship that has dramatically improved since the election last year of the China-friendly Ma Ying-jeou as Taiwan's president. Chen, who is president of China's Association for Relations Across the Taiwan Straits (ARATS), said the two sides would deepen economic ties across the board. "The mainland will buy more products from Taiwan and send more tourists to the island, while encouraging more Taiwan enterprises to set up on the mainland to maintain stable development," Xinhua quoted him as saying. The two sides still conduct relations through the semi-official bodies, a legacy of the long-time diplomatic estrangement. Sunday's agenda was also expected to include expanding the direct flights inaugurated between the two sides last year and discussing joint crime-fighting efforts, Xinhua reported earlier. The meeting was the third since historic talks held in Beijing last June -- the first dialogue in a decade. Another meeting followed in Taiwan in November. Ties between China and Taiwan, which split in 1949 after a civil war, warmed since Ma came to power in May, succeeding his pro-independence predecessor Chen Shui-bian, who regularly enraged China during his eight years in office. China views Taiwan as part of its territory awaiting reunification, by force if necessary. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: Asia Pacific Sri Lanka ruling coalition sweeps local pollsAP - 32 minutes ago Thais pine for political fixReuters - 1 hour 1 minute ago Weekend blasts kill 16 children in PakistanReuters - 1 hour 8 minutes ago China and Taiwan in landmark dealReuters - 1 hour 11 minutes ago China, Taiwan pledge to deepen economic tiesAFP - 1 hour 12 minutes ago Enlarge Photo China, Taiwan pledge to deepen economic ties Most Popular – Asia Pacific Viewed Charred meat linked to pancreatic cancer risk Downturn hits Elton John, Paul McCartney 'Golden Girls' Beatrice Arthur, dead at 86 Albino buffalo a first for Kenya Toyota's Trulli on pole for Bahrain Grand Prix View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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