Canada says it has completed talks on bilateral investment deal with Taiwan
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Canada's Trade Minister Mary Ng speaking during a question period in the House of Commons on Parliament Hill in Ottawa, on Nov 29, 2021.
PHOTO: REUTERS
OTTAWA – Canada and Taiwan have completed talks on a bilateral deal to boost foreign investment and will work to make sure it comes into effect promptly, Canadian Trade Minister Mary Ng said in a statement on Tuesday.
The Foreign Investment Promotion and Protection Arrangement is part of Canada’s plan to increase trade and influence in the fast-growing Indo-Pacific region.
Trade between Canada and Taiwan totalled C$10.2 billion (S$10.15 billion) in 2021, up from C$7.4 billion in 2020, according to official Canadian figures.
Canada’s total bilateral trade with the world is more than C$1.5 trillion.
China, which views self-governing Taiwan as its own territory, has sour relations with Canada. Taiwan strongly rejects China's sovereignty claims.
The Chinese Embassy in Ottawa did not immediately respond to a request for comment. REUTERS