Japan and Taiwan concluded a long-awaited fisheries agreement Wednesday in Taipei after officials from both sides formally resumed negotiations for the first time in four years.

The deal will allow Taiwanese trawlers to operate in part of Japan's exclusive economic zone near the disputed Senkaku Islands in the East China Sea, sources close to the talks said.

Under the deal, Japan and Taiwan will designate an area in Japan's EEZ as jointly managed waters where fishing by both Japanese and Taiwanese boats will be allowed.