Chief Economic and Trade Negotiator Deng Zhenzhong held a videoconference meeting with Canadian Minister of International Trade Mary Ng today. During the meeting, the two sides agreed that Taiwan and Canada officially launched the "Investment Promotion and Protection Agreement" (FIPA) negotiations, which is another milestone in my country's economic and trade negotiations.
(Provided by the Economic and Trade Negotiation Office of the Executive Yuan)
[Reporter Lv Yixuan/Taipei Report] After Taiwan and the United States launched the "21st Century Trade Initiative" negotiations in June last year, Deng Zhenzhong, the chief economic and trade negotiator, and Canada's Minister of International Trade, Mary Ng, held a video conference. The two sides agreed during the meeting that Taiwan and Canada The official launch of the "Investment Promotion and Protection Agreement" (FIPA) negotiations is another milestone in my country's economic and trade relations.
The relationship between Taiwan and Canada has grown steadily. In January last year, Taiwan launched FIPA exploratory discussions with Canada. In March, it joined Canada, New Zealand, and Australia as founding members of the Indigenous Peoples Economic and Trade Cooperation Agreement (IPETCA). Lou's office.
The exploratory discussions on FIPA are continuing. Ni Jiemin, the Canadian representative to Taiwan, announced at the end of last year that it has entered the final stage, and the next stage is to start substantive negotiations.
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Deng Zhenzhong and Canadian Minister of International Trade Mary Ng held a video conference on the evening of February 7, Taipei time, exchanging views on Taiwan-Canada bilateral economic and trade relations, multilateral and regional economic and trade issues, etc.
During the meeting, the two sides agreed that Taiwan and Canada will formally launch negotiations on the Foreign Investment Promotion and Protection Arrangement (FIPA).
The Economic and Trade Office stated that the start of FIPA negotiations between Taiwan and Canada will have a considerable positive impact on my country's status and image in the international economic and trade field.
The current plan of this agreement not only includes investment promotion, protection, liberalization, etc., but also focuses on helping small and medium-sized enterprises, indigenous peoples, women and other groups inclusive and corporate social responsibility and other issues.
The ETO emphasized that Taiwan and Canada are like-minded partners who share the values of freedom and democracy and support a rules-based international economic and trade order.
Taiwan will also continue to deepen global partnerships with like-minded countries such as Canada, strengthen supply chain cooperation, and jointly promote peace, stability, and prosperity in the Indo-Pacific region.
In 2022, the total bilateral trade volume between Taiwan and Canada will be approximately US$5.8 billion. According to statistics from Global Affairs Canada, Taiwan will be one of the six fastest-growing markets in Canada in 2021, second only to the United States, Japan, and South Korea.
Canada has signed relevant economic and trade agreements with most countries such as the European Union and South Korea, and is also a member of the CPTPP.
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