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Taiwan is hoping that reaching a new trade deal with Canada this year will bolster its case for inclusion in a sweeping Pacific economic partnership that Canada is set to chair in 2024.
Taiwan and Canada are currently negotiating a trade agreement that will grant both sides favoured treatment in the others’ market and prohibit discrimination that favours domestic or other international investors.
Harry Tseng, Taiwan’s representative to Canada, said he hopes the two countries can reach a deal by the end of the year on a new Foreign Investment Promotion and Protection Agreement (FIPA). This would allow Taiwan, he said, more time to make its case to Canada on why it should join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a pan-Pacific trading bloc that also includes Japan, Australia, Malaysia, Vietnam, New Zealand and Mexico.