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Taiwan will liberalise agricultural investments in China after the island joins the World Trade Organisation (WTO), an official said Tuesday.
Mainland-bound investments in more than 500 farm items - up from current 223 - would no longer need prior approval from Taipei authorities, said the official from the Council of Agriculture (COA).
Currently investments in some 1,700 items require special permission.
The relaxed items were mostly fish and meat products, where Taiwan had lost competitiveness in overseas markets, he said, adding that the liberalisation was being finalised by the economic "ministry".
Taiwan, however, would continue restricting agricultural imports from Chinese mainland to prevent diseases and protect the already weakening local agricultural industry, the official said.
Taipei now permits imports of 480 agricultural items, about one-fourth of total farm import list, from the mainland, he said.
Taiwan's agricultural industry would be hit hardest after the island enters the WTO, expected early next year, and forced to widen farm imports.
(China Daily 11/28/2000)
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