Top negotiators from the mainland and Taiwan said here Sunday that they will work out an economic cooperation mechanism to cope with the global financial crisis which is exerting an enormous negative impact on economies of the both sides.

Chen Yunlin (R), president of the mainland's Association for Relations Across the Taiwan Straits (ARATS), shakes hands with Chiang Pin-kung, chairman of the Taiwan-based Straits Exchange Foundation (SEF), before their talks in Nanjing, east China's Jiangsu Province, on April 26, 2009. This was the third round of talks between them in less than a year.[Han Yuqing/Xinhua]

The two sides should continue to map out an interactive cooperation system on economic, cultural and social development and put them into practice one by one, said Chiang Pin-kung, chairman of Taiwan's Straits Exchange Foundation (SEF), in talks with his mainland counterpart Chen Yunlin in Nanjing, Jiangsu, on Sunday morning.

Chiang said a SEF delegation would visit the mainland soon for economic research. The mainland's Association for Relations Across the Taiwan Straits (ARATS) had already sent an expert team to the island for preparation of more economic cooperation.

"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," ARATS chief Chen Yunlin said.

"Although the economic growth of the mainland was better than expected, the mainland is still facing the pressure of a downward economic growth. And the island's economy also faces many difficulties, despite measures taken by the local authority," said Chen.

Under such circumstances, the two negotiating bodies have the responsibilities to pool the wisdom across the Taiwan Straits and fight against the financial crisis, Chen said.

Echoing Chen's comments, Chiang said it was more significant for the two sides to support each other when the negative impact of the financial crisis was deepening.

Sunday's talks focus on regular cross-straits flights, joint efforts on cracking down on crime and financial cooperation. Relevant agreements were expected to be signed in the afternoon.

The two sides will also exchange views and try to reach a consensus on mainland investment in Taiwan.

Chiang said joint efforts on cracking down on crime would be conducive to safeguarding social security on both sides and improving cross-straits investment environment.

Regular flights would ease the current shortage of cross-straits flights by increasing the number of both flights and terminals, he said, indicating that the tickets might be cheaper.

The mainland-Taiwan relations have ushered into a "new era of peaceful development", after experiencing "major historic breakthroughs" over the past 60 years, said Chen.

"I believe that with the efforts of both sides, the talks will achieve satisfactory results," said Chen.

Chiang said the cross-straits relations have gradually embarked on a track of peace, which the two sides should cherish and maintain. Chiang invited Chen Yunlin to visit Taiwan again this year.

Chen and Chiang started their talks at around 9 a.m. in Nanjing, capital of east China's Jiangsu Province.

This is the third round of talks between them in less than a year.

Founded in 1991 and 1990 respectively, the ARATS and SEF were authorized by the mainland and Taiwan to handle cross-straits exchanges.

The two organizations agreed to meet twice a year on the mainland and Taiwan alternately after negotiations resumed last June following almost 10 years of suspension.

The two sides have signed six agreements since last June on weekend charter flights, tourism, direct shipping, air transport, postal services and food safety.

Chiang said these agreements indicated a "new page" for cross-straits relations and also an example of the mainland and Taiwan's ability to put aside disputes.?

Chen Yunlin (R), president of the mainland's Association for Relations Across the Taiwan Straits (ARATS), shakes hands with Chiang Pin-kung, chairman of the Taiwan-based Straits Exchange Foundation (SEF), before their talks in Nanjing, east China's Jiangsu Province, on April 26, 2009. This was the third round of talks between them in less than a year.[Xing Guangli/Xinhua]

(Xinhua News Agency April 26, 2009)