TAIPEI (Taiwan News) — The Ministry of Foreign Affairs (MOFA) on Tuesday (Jan. 11) said it welcomed exploratory discussions between Taiwan and Canada about a Foreign Investment Promotion and Protection Arrangement (FIPA), which it said would further deepen bilateral economic, trade, and investment relations.
Minister Without Portfolio John Deng (鄧振中) and Mary Ng (伍鳳儀), Canadian minister of international trade, export promotion, small business and economic development, met virtually on Monday (Jan. 10) to deliberate over the issue as well as trade relations and supply chain tenacity.
The two governments aim for the agreement, once signed, to uphold fair treatment of investors, transparent dispute-settling mechanisms, and increased representation of female and Indigenous individuals in boardrooms and arbitration systems.
MOFA said it will actively cooperate with the Cabinet’s Office of Trade Negotiations and relevant ministries to finalize the FIPA as soon as possible, promote two-way investment, and strengthen supply chain resilience to revitalize the post-pandemic economy. It also pledged to promote economic and trade links with like-minded countries.