© Reuters. Taiwan and Canada lay foundations for bilateral foreign investment agreement
Beijing, Feb 8 (.).- Taiwan and Canada have agreed to begin formal talks to reach an agreement with the aim of stimulating trade and investment between the two countries, although the start date has not been specified.
The two governments declared on Tuesday that they have agreed to start formal talks on a Foreign Investment Protection and Promotion Agreement (FIPA), more than six months after the two sides concluded “exploratory discussions” on the matter.
The island’s Trade Negotiations Office, headed by Taiwan’s chief trade negotiator John Deng, said the FIPA negotiations will cover issues related to investment promotion, protection and liberalization, as well as measures to help SMEs and support to indigenous peoples, women and other groups in the business environment.
In a separate statement, Canadian Trade Minister Mary Ng said both sides will work to “secure new investment opportunities to support sustainable growth, establish new partnerships and ensure good paying jobs” through their negotiations.
Taiwan is a key trade and investment partner for Canada as Ottawa looks to increase its presence in the Indo-Pacific, Ng said.
According to data from the Government of Taiwan, bilateral trade between Taiwan and Canada amounted to 5.8 billion US dollars (5.365 million euros) in 2022.