HONG KONG: Taiwan will open a pavilion for the first time at the 13th China International Fair for Investment and Trade (CIFIT) in the hope of attracting mainland investment, Director of the Xiamen International Investment Promotion Center said yesterday.

He made the announcement during a promotional conference for the Xiamen fair in Hong Kong.

The Taiwan pavilion comprising 120 standard booths will feature the largest Taiwan delegation since the establishment of CIFIT, according to director Huang Heming.

The organizer will host a Taiwanese investment project exhibition area, a Taiwanese commodity exhibition area, and a premium Taiwanese product exhibition area.

"Taiwan is seeking mainland capital but the Taiwan side has not enacted specific regulations on investment from the mainland," said Huang Ling, director general of the Operational Department of the CIFIT Organizing Committee and vice mayor of Xiamen, the host city.

As Taiwan relaxes controls, mainland investment in Taiwan could prove one of the highlights of CIFIT this year, a reversal from the previous pattern of one way investment from Taiwan to the mainland.

The fair comes after the central government's recent announcement that it would boost development of western coastal areas of the Taiwan Straits. It will bring great opportunities to the region's development and promote cooperation with Taiwan, said Liu Cigui, the mayor of Xiamen.

In the meantime, Xiamen, the closest city to Taiwan in terms of distance, is preparing to become the first currency settlement center for renminbi and New Taiwan dollars.

CIFIT has registered 250 delegations to date, much improved over the 100 registrants at this time last year - and apparently despite the global economic meltdown, according to the organizer.

The 13th CIFIT will be held on the theme, "fight the crisis and explore business opportunities". It will be held September 8 in Xiamen, Fujian province. It is estimated that more than 500 institutions from 100 countries and regions will participate.

This year's CIFIT will highlight investment in industry, especially property investment, culture, tourism, agriculture, infrastructure development, energy conservation and environmental protection, trade in service, finance and transportation.

(HK Edition 06/18/2009 page2)