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MEMORANDUM OF UNDERSTANDING [BETWEEN THE INDUSTRIAL DEVELOPMENT & INVESTMENT CENTER IN TAIPEI AND THE AUSTRALIAN COMMERCE AND INDUSTRY OFFICE] ON THE PROMOTION OF INVESTMENT AND TECHNOLOGY TRANSFER (AD.1993.08.17)
1.Singed On August 17, 1993 Entered Into Force On August 17, 1993
1.This memorandum is entered into between the Australian Commer-
ce and Industry Office (ACIO), and the Industrial Development
& Investment Center in Taipei (IDIC), hereinafter referred to
as "the parties".
2.This memorandum reflects the desire of ACIO and the IDIC to c-
reate favourable conditions for residents and companies of th-
eir respective territories to increase two-way investments and
3.Both parties recognise that investments of individuals and co-
mpanies should at all times be accorded fair and equitable tr-
4.Both parties also note the favourable conditions for investme-
nt in the territory of IDIC provided in the Statute for Inves-
tment by Foreign Nationals and the Statute for Technology Coo-
5.Both parties also note that as a result of the Foreign Corpor-
ations (Application of Laws) Act 1989, investment by firms fr-
om the territory of IDIC is accorded the same legal protection
as that given to all other foreign firms investing in the ter-
ritory of ACIO.
6.Both parties therefore understand that:
(a) ACIO and IDIC will each take the necessary steps to exchange
information on the investment environment and incentives and
that this information will be made available to potential i-
(b) ACIO and IDIC will work towards the maintenance and improve-
ment of the investment climate in their respective economies
(c) ACIO and IDIC will facilitate investment and technology tra-
nsfer between their respective territories as well as in ot-
her parts of Asia.
(d) ACIO and IDIC will form a workimg committee which will meet
as and when required. Both will assign personnel to meet al-
ternately in Taipei and Canberra to explore possibilities f-
or expanded cooperation in promoting two-way investment and
(e) ACIO and IDIC will not be held liable for any decision made
by a resident or company in either of their respective terr-
itories in favour of the facilities mentioned above (paragr-
aph 6, point (c)).
(f) the references to existing laws in paragraphs 4 the 5 above
will encompass any amendment or replacement of the laws ref-
erred to therein.
7.Signed in Taipei on the seventeenth day of August, One thousa-
nd nine hundred and ninety-three.
Ricky Y.S.Kao Colin S. Heseltine
Director General Senior Representative
Industrial Development and Australian Commerce
Investment Center and Industry Office