Taiwan said it had completed negotiations with Canada on a bilateral foreign investment agreement and welcomed the early completion of the negotiations.
Taiwan and Canada do not maintain diplomatic relations, but economic and trade ties between the two are growing. Investments in each other are increasing in various fields related to semiconductors and renewable energy.
The two parties launched negotiations last February on the foreign investment promotion and protection agreement. These agreements aim to protect the activities of both parties.
Taiwanese authorities made the announcement on Tuesday (10/24/2023). Taiwan said the agreement would prohibit the establishment of new investment regulations without prior approval. The agreement will also encourage investments from women, small businesses and indigenous people.
Officials said Taiwan hoped the deal would be signed and come into force sooner.
Canada released its Indo-Pacific strategy in November last year. The country described China as an “increasingly disruptive global power” and stressed the importance of strengthening ties with Taiwan.
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