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(Oct 19, 2012) On October 3, 2012, the Republic of China (on Taiwan) (ROC) and New Zealand initialed letters of agreement on the Strategic Cooperation on Joint Investments in Venture Capital Funds. The landmark accord between the two countries, which already enjoy "robust economic and trade relations with complementary industrial strengths, … will boost cooperation, create new business opportunities and yield greater profits," according to an official with
The pact had been concluded earlier in the year, on March 5, 2012, by representatives from the two jurisdictions (Press Release, Ministry of Economic Affairs, R.O.C., Taiwan Signs Venture Capital Cooperation Agreement with New Zealand (Mar. 14, 2012).) It is viewed as an important step in the broader aim of initiating formal talks on an economic cooperation agreement. Aside from promoting venture capital activity in the region, the purpose of the agreement is to "open access to networks and markets in
The new venture capital agreement provides for
Half of either fund must be invested in the given jurisdiction's companies. However, in the view of Franceska Banga, NZVIF Chief Executive, the agreement will probably increase the amount of capital available to
According to ROC government figures, trade between
- Author: Wendy Zeldin More by this author
- Topic: Investments More on this topic
- Jurisdiction: New Zealand / Taiwan More about this jurisdiction
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Last updated: 10/19/2012