Taiwan signs landmark bilateral investment agreement with Canada

Taiwan and Canada on Friday signed a bilateral investment deal, boosting the Taiwanese government’s efforts to bolster business ties with like-minded democratic partners and possibly easing the island’s entry into a major pan-Pacific trade pact.
Self-ruled Taiwan has been seeking greater diplomatic and moral support from major Western democracies, such as Canada, as it faces growing military and political pressure from China to give in to Beijing’s sovereignty claims over the island. As part of that, Taiwan has been seeking more trade deals with Western countries.
The Foreign Investment Promotion and Protection Arrangement is part of Canada’s plan to increase trade and influence in the Indo-Pacific region.
Taiwan’s Office of Trade Negotiations said the deal, on which the two sides completed talks in October, was a milestone of “great historical significance”.