Negotiators from both sides of the Taiwan strait are set to sign two agreements in Taipei on investment protection and customs cooperation after the latest talks.

Chen Yunlin, President of the Chinese mainland-based Association for Relations Across the Taiwan Straits and his Taiwanese counterpart Chiang Pin-kung, chairman of the Taiwan-based Straits Exchange Foundation are in a new round of talks to discuss details of the investment and customs pacts.

The two agreements aim to promote and protect two-way investment, as well as ease customs clearance and effective cargo supervision.

Chen Yunlin (front, L), president of the mainland-based Association for Relations Across the Taiwan Straits (ARATS), and Chiang Pin-kung (front, R), chairman of the Taiwan-based Straits Exchange Foundation(SEF), pose for photos after exchanging agreements in Taipei, southeast China's Taiwan, Aug. 9, 2012. [Xinhua]

The investment protection agreement offers a more comprehensive plan in terms of protection of business people’s personal safety and investment rights. It also outlines a dispute-solving mechanism and a transparent and reasonable compensation system.

The investment promotion agreement focuses more on expanding the investment scope between the Chinese mainland and Taiwan, and expresses concerns about the limitations Chinese investors face in Taiwan.

Chen Yulin said in a statement on his arrival on Wednesday that the agreements will be a major step in carrying out the follow up negotiations for the cross-Strait Economic Cooperation Framework Agreement signed in 2010.