Social networking site Friendster announced that it now supports applications built on competing network Facebook’s popular platform.

Friendster already supports apps built for OpenSocial (the Google-led effort to make all social sites compatible), and the announcement signals that Friendster is the first network to support both OpenSocial and Facebook apps.

Obviously, Friendster is jumping on the bandwagon of a competing site and trying to steal some of Facebook’s platform success. Still, this late in the game, Friendster’s best chance to attract developers to its platform is by opening up to as many sites and formats as possible. The news is also plus for Facebook app developers, since it could give them a bigger audience without too much more work.

And in case you’re one of those folks thinking, “Who still uses Friendster, anyway?” (which is always my first reaction) it’s necessary to remember that the site remains huge in Asia. Friendster likes market its reach in Asia as a great way for developers to expand their offerings to populations outside of the United States.

One of the remaining questions is how easy it will be for Facebook developers to bring their apps over. Friendster claims it should only take “hours or a few days,” and I guess we’ll hear if that’s true. More details about the process are available here.