TAIPEI, Oct 25 – Taiwan and Canada have concluded negotiations on the Foreign Investment Promotion and Protection Arrangement (FIPA). The announcement was made by the two countries simultaneously yesterday evening, nearly nine months after the talks began.
FIPA includes 70 articles and annexes that are consistent with recent international investment treaties and create comprehensive legislation that provides investors with a predictable and stable investment environment.
The deal is particularly beneficial for small and medium-sized companies looking to expand their investment presence in Canada. This supports Taiwan’s net-zero emissions goal, the Office of Trade Negotiations (OTN) said in a press release.
Global Affairs Canada (GAC), the Government of Canada’s Department of Foreign Affairs, Trade and Development, said in a statement that once the agreement enters into force, it will help strengthen trade and investment between Canada and Taiwan. The agreement is part of Canada’s Indo-Pacific strategy.
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