Canada’s top representative to Taiwan on Wednesday said that Ottawa is open to discussions with Taipei over future cooperation in the vein of an investment deal signed late last year.
Taiwan and Canada signed the investment promotion and protection arrangement (FIPA) in December last year to “further enhance the bilateral investment environment” for companies from both sides, a news release issued by the Office of Trade Negotiations said.
Asked if Canada was interested in signing similar agreements to enhance bilateral business relations after FIPA, Canadian Trade Office in Taipei (CTOT) Executive Director Jim Nickel answered in the affirmative.
Photo: Reuters
“We’re in discussions with Taiwan’s offer to trade negotiations on a number of other arrangements that could address digital services, trade facilitation, customs,” Nickel said on the sidelines of a CTOT press event to promote the upcoming celebration Canada event.
He confirmed that Ottawa does “have an interest and planned” to move forward with additional arrangements in the trade investment space with Taipei.
Whether the arrangements would come in the form of separate trade deals or combine as one more comprehensive deal has yet to be decided, he added.
Meanwhile, commenting on Canada’s view on Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade bloc the North American country is serving as the rotating chair this year, Nickel reiterated Ottawa’s stance that it is open to Taiwan joining.
Canadian trade negotiators would “do our best to have a discussion amongst the existing membership of the CPTPP to ensure that those applicants who are ready and willing to meet all the standards of the CPTPP will get proper consideration by the commercial trade,” he said.
Taiwan has expressed hope that Canada’s rotating chair position would offer a “window of opportunity” for Taiwan’s potential accession because of the democratic values shared by Canada and Taiwan, and their robust trade and economic ties.
The CPTPP is one of the world’s biggest trade blocs, accounting for 13.5 percent of global trade. Its 11 signatories are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The UK formally signed the trade agreement on July 16 last year, and is expected to accede to the bloc by the end of this year.
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