Canada, Taiwan reach foreign investment deal that will boost trade ties

📆 24/10/2023 8:52 p. m.
📰 GlobalCalgary

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Taiwan has been seeking greater diplomatic and moral support from major Western democracies, such as Canada, as it faces growing military and political pressure from China.

have completed talks on a bilateral deal to boost foreign investment and will work to make sure it takes effect promptly, Canadian Trade Minister Mary Ng and Taiwan’s government said on Tuesday.

The Foreign Investment Promotion and Protection Arrangement is part of Canada’s plan to increase trade and influence in the Indo-Pacific region. He said the agreement would help with Taipei’s bid to join a major pan-Pacific free trade pact, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.Taiwan has been lobbying members such as Canada to back its application, saying that unlike Beijing, Taipei supports transparency and rule of law in its own economy and in doing business with other countries.

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