Taiwan and Canada signed a bilateral investment deal, strengthening economic ties and potentially easing Taiwan’s entry into a major trade pact.
This deal is significant for Taiwan, as it seeks diplomatic and economic support from Western democracies amidst growing pressure from China.
The agreement, known as the Foreign Investment Promotion and Protection Arrangement (FIPA), aims to boost trade and investment between the two countries.
Both sides see the FIPA as a positive step for their economies and potentially for Taiwan’s bid to join the CPTPP trade pact.
Canada holds the CPTPP chairmanship next year, which could play a crucial role in Taiwan’s application.
The FIPA’s emphasis on high standards like environmental protection aligns with CPTPP requirements, potentially aiding Taiwan’s case.
China, which claims Taiwan as its territory, opposes the deal and maintains strained relations with Canada.
