Taiwan and Canada to begin talks on foreign investment deal, ministers announce
- The agreement to start talks on a foreign investment promotion and protection arrangement was struck on Sunday
- Taiwan’s cabinet hailed the move as an ‘important milestone’, while Canada called Taiwan a key trade and investment partner
Canada and Taiwan will begin talks on a foreign investment arrangement, their governments have announced, in what Taiwan said was a milestone for trade relations as it tries to shore up its ties around the world.
Ottawa’s international trade minister Mary Ng made the agreement with John Deng, Taiwan’s “minister without portfolio” on trade, during a call on Sunday.
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A readout of the call provided by Ng’s department on Monday said that “exploratory discussions” would begin on a possible foreign investment promotion and protection arrangement (FIPA).
Canada said its FIPA model was intended to provide “a stable, rules-based investment environment for Canadian businesses investing abroad and for foreign businesses investing in Canada”.
In paraphrased remarks, Ng called Taiwan “a key trade and investment partner as Canada broadens its trade links and deepens its economic partnerships in the Indo-Pacific region”, according to the readout.
“The ministers discussed the need for Canada and Taiwan to continue to work together to further promote supply chain resilience and mutually beneficial commercial opportunities, as well as to increase collaboration on science, technology and innovation, education, Indigenous affairs, and the green economy,” the readout said.
