Taiwan Accepts U.S. Investment Pact

Taiwan acceded to U.S. pressure and agreed in principle to sign a broad investment pact in exchange for Washington’s commitment to help it join two international groups, officials said. Under the bilateral pact, Taiwan would be obliged to open its service market widely, granting almost unrestricted access to banking and other financial services, Taiwan trade officials said. The U.S. side committed itself to helping Taiwan join two international organizations, the U.S.-Japan Semiconductor Assn. and the Global Government Forum. Lin Yi-fu, Taiwan’s chief negotiator, said he will send officials to Washington in April for further talks on the investment issue. The trade officials said the terms of the investment pact are more liberal than those for entry to the World Trade Organization--a goal that still eludes Taiwan despite its global trading prowess.