Taiwan-Vietnam mediation commission set to meet twice a month

06/13/2014 01:33 PM

Taipei, June 13 (CNA) Taiwan and Vietnam are scheduled to hold regular joint mediation sessions twice a month to tackle the issue of compensation for damages suffered by Taiwanese businesses during last month's anti-Chinese riots, a Taiwanese economics official said Friday.

"In the initial stage, we'd like to hold such meetings more frequently to help Taiwanese businesses convey their needs," said Lien Yu-ping, director general of the Department of Investment Services under the Ministry of Economic Affairs.

The first mediation commission meeting took place Wednesday, and "some of our demands have been met," she told CNA during a break at a press conference in Taipei.

Deputy Economics Minister Shen Jong-chin will serve as the leader of Taiwan's cross-ministry delegation to meet his counterpart, Dang Huy Dong, Vietnam's vice minister of Planning and Investment.

The two sides will set up task forces to focus on wages and labor; taxes and tariffs; loan and finance; insurance; and security.

The date of the second meeting has not yet been confirmed, Lien said.

The riots erupted May 13 after Vietnamese crowds took to the streets to protest against a Chinese oil-drilling venture in an area of the South China Sea that is also claimed by Hanoi.

Taiwanese businessmen said Friday that the protests had been hijacked by anti-government rioters seeking to hurt Vietnam's economy and were not specifically targeted at ethnic Chinese people.

The riots in the provinces of Ha Tinh, Binh Duong, Dong Nai and Ba Ria-Vung Tau along with Ho Chi Minh City affected 425 Taiwan-invested establishments, 25 of which were seriously damaged. Total cumulative losses are estimated to range between US$150 million and US$500 million, with consequential damages estimated to reach US$1 billion.

(By James Lee)ENDITEM/WH

Video report:Taiwan request help in Vietnam

Related stories:●June 13: Investment pact talks with Vietnam on track despite riots: Taiwan●June 13: 90% Taiwanese firms in Vietnam have resumed operations: group

(Click here for developments related to the anti-China protest-turned-riot in Vietnam.)

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