Canada trade minister says trade talks with Taiwan are part of a larger Indo-Pacific strategy

Thank you so much for sharing.

LTC Eugene Chu
..."“I was able to launch what we call FIPA — it’s a foreign investment, protection arrangement with Taiwan, but it is very much a part of Canada’s Indo-Pacific strategy for diversification into the region,” Mary Ng, the trade minister told CNBC’s “Squawk Box Asia” on Tuesday.

“We went out to the Canadian people and had a very broad consultation before getting to this point, which is launching into this dialogue,” she added.

Bilateral trade between Canada and Taiwan reached $5.82 billion in 2022, according to Taiwan’s official statistics. Taiwan is Canada’s 13th largest trading partner globally, and its 5th largest trading partner in Asia.

Taiwan’s exports to Canada amounted to $3.3 billion last year, and Canada exports to Taiwan amounted to $2.52 billion in the same period, according to that data.

The agreement would “establish more resilient supply chains in the post pandemic era, jointly support the rules-based international economic and trade order,” Taiwan’s ministry of foreign affairs has said."...