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Canada's international trade minister and Taiwan minister discuss foreign investments

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Ottawa/ IBNS: Mary Ng, Canadian Minister of International Trade, Export Promotion, Small Business, and Economic Development and Taiwan Minister John Deng discussed a possible foreign investment promotion and protection arrangement (FIPA) between Canada and Taiwan in a meeting.

Highlighting Taiwan as a key trade and investment partner, Ng said that Canada would broaden its trade links and deepen its economic partnerships in the Indo-Pacific region.

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 increasing collaboration on science, technology and innovation, education, Indigenous affairs, and the green economy were also discussed by the ministers

Minister Ng ensured trade and investment agreements benefit all, including women, Indigenous peoples, small business owners, and underrepresented communities, and emphasized Canada’s commitment to inclusive trade.

Taiwan is reportedly Canada’s sixth-largest trading partner in Asia with the value of Canadian direct investment in Taiwan reaching $557 million in 2020.

(Reporting by Asha Bajaj)