China and Taiwan sign key investment protection pact
Published: 10th Aug 2012 02:26:21
China and Taiwan have signed an investment protection deal, the latest in a series of efforts by the two countries to foster closer trade ties.
The pact provides investors from both sides with formal channels to settle disputes.
It also details the rights of Taiwanese investors if they are detained by Chinese authorities and vice versa.
China is Taiwan's biggest trading partner with bilateral trade worth $110bn (£70bn) a year.
"The agreement will encourage more mainland investment on Taiwan and give Taiwan investors more room to grow on the mainland," said Chinese negotiator Zheng Lizhong.
"It's an important step in deepening economic co-operation."
Taiwan's President Ma Ying-jeou, who won a second term in office earlier this year, has been pushing for closer economic ties with China.
I oppose the deals because China is trying to control Taiwan's economy so it can rule Taiwan”
The two nations had signed a landmark trade deal in 2010, reducing tariffs on hundreds of products.
However some in Taiwan have protested against the efforts to foster closer relations with China.
Critics have argued that such moves will result in increased Chinese economic influence in Taiwan, and may set the stage for an eventual Chinese political takeover of the island.
China does not recognise Taiwan, regarding the island as a breakaway province and wants unification.
"I oppose the deals because China is trying to control Taiwan's economy so it can rule Taiwan," Chen Che, a protestor who was demonstrating against the signing of the latest pact, was quoted as saying by the AFP news agency.
"The deals have political purposes and they are steps towards unification. I'm worried about Taiwan's future if the government sells out to China like this.
"Without democracy we have nothing."
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Harvard CitationBBC News, 2012. China and Taiwan sign key investment protection pact [Online] (Updated 10th Aug 2012)
Available at: http://www.ukwirednews.com/news/1445474/China-and-Taiwan-sign-key-investment-protection-pact [Accessed 24th Jul 2014]
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With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com