The governments of Canada and Taiwan announced on Monday that talks on an investment protection agreement have begun, as part of Taiwan’s efforts to strengthen ties with other democracies in the face of growing pressure from Beijing.
Taiwan has been pursuing trade agreements with countries it considers to be like-minded, such as the United States and the European Union.
Taiwan only has free trade agreements with two large economies, Singapore and New Zealand, despite being a member of the World Trade Organization, and China has put pressure on countries not to deal directly with the administration in Taipei.
Chief trade negotiator John Deng met digitally with Mary Ng, Canada’s International Trade Minister, and the two decided to begin “exploratory conversations” on a Foreign Investment Promotion and Protection Arrangement, or FIPA, according to Taiwan’s cabinet.
The direct encounter between the two government ministers may enrage China, which has increased its efforts to isolate Taiwan as it pushes its sovereignty claims.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.