Annual Taiwan-Canada economic consultation wraps up in Taipei

2018/12/17

The annual economic consultation between Taiwan and Canada concluded Dec. 13 in Taipei City, with the two sides exchanging views on ways to further strengthen trade and industrial cooperation, according to the Ministry of Economic Affairs.
 
 Convened by MOEA Vice Minister Wang Mei-hua and Sarah Taylor, director general for North Asia and Oceania at Global Affairs Canada, the one-day event focused on such issues as agriculture, indigenous peoples, innovation, investment and women’s participation.
 
 The talks also spanned methods for promoting public and private sector cooperation on aquaculture product inspection, financial technology development and startup incubators, as well as reforms to the World Trade Organization.
 
 During her opening remarks, Wang welcomed the launch of the Canadian Technology Accelerator the previous day in Taipei. Set to commence operations in early 2019 at Taiwan Tech Arena, the local branch of the Canadian government-backed initiative is expected to strengthen networking between entrepreneurs and venture capitalists from the two sides and foster emerging businesses in sectors like artificial intelligence and Internet of Things.
 
 The vice minister also took the opportunity to bring the visiting delegation up to speed on Taiwan’s efforts to promote offshore wind power development and invited Canadian firms to take part in the program.
 
 In response, Taylor praised the progress in bilateral relations in recent years, citing the Patent Prosecution Highway pilot arrangement and an avoidance of double taxation agreement taking effect Feb. 1, 2018, and Jan. 1, 2017, respectively. These pacts are bolstering trade while cementing the Taiwan-Canada partnership, she added.
 
 According to the MOEA, bilateral trade surged 17.7 percent in 2017 to US$3.83 billion, with Taiwan Canada’s fifth largest trading partner in Asia. As of October this year, Taiwan investment in Canada reached an accumulated US$477 million, while Canada investment in Taiwan totaled US$881 million.

Source: Taiwan Today (https://taiwantoday.tw/news.php?unit=6&post=147082)