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Cdn. ag included in trade talks with Taiwan

Cdn. ag included in trade talks with Taiwan

Trade Minister Mary Ng recently spoke with a Taiwanese official

By Diego Flammini
Staff Writer

A recent conversation between Canadian and Taiwanese officials included agriculture.

On Feb. 7, Trade Minister Mary Ng spoke with John Deng, Taiwan’s minister without portfolio, in the capacity of trade representative.

The two ministers agreed to begin formal negotiations on a Foreign Investment Promotion and Protection Arrangement (FIPA) and to build on the current trading relationship, especially in advanced manufacturing and agriculture.

Taiwan is Canada’s 13th largest trading partner and the 5th largest in Asia.

In 2021, Canada was the fifth largest supplier of meat to Taiwan. That same year, Canda exported $41.2 million of soybeans to Taiwan.

Canada also exported 8,046 metric tonnes of canola oil to Taiwan in 2021.

“By beginning formal negotiations with Taiwan towards a Foreign Investment Promotion and Protection Arrangement, we are working to secure new opportunities for investment to support sustainable growth, establish new collaborations, and ensure good, well-paying jobs,” Minister Ng said in a statement.

Canada and Taiwan are involved in the World Trade Organization together but have no formal bilateral agreement in place.

In Canada, a FIPA “balances the interests of all Canadians, including women, Indigenous peoples and owners of small and medium-sized enterprises, so that the benefits of Canada’s investment agreements are shared broadly across society,” Global Affairs Canada said in a May 2021 statement announcing updates to Canada’s FIPA model.

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