Taiwan and Canada will soon begin exploratory discussions on signing a bilateral foreign investment promotion and protection arrangement. The announcement by Taiwan’s Cabinet on Monday came after Taiwan trade representative John Deng met virtually with Canadian Minister of International Trade Mary Ng.
The Cabinet statement says the move to begin discussions is “an important milestone” in bilateral trade relations.
The statement says trade between Taiwan and Canada was worth about US$5.5 billion in 2020. It also says that Taiwan was Canada’s sixth biggest trading partner in Asia that year.
Taiwan says while talks are ongoing, the two sides will continue to strengthen supply chain resilience, explore business opportunities and cooperate on a range of issues. Those issues include emerging technologies, indigenous rights, and education.