Mr. Speaker, on January 1, Canada's arrangement for the avoidance of double taxation with Taiwan came into force. Taiwan is already Canada's 11th largest trading partner, with some $6 billion in trade annually. However, there are many opportunities to strengthen Canada's economic ties with Taiwan, particularly in the areas of energy, services, and investment.
Stronger economic ties with Taiwan complements the strong people-to-people links that we share, and we share common values, including a commitment to freedom, democracy, human rights, and the rule of law.
Now is the time for the government to take the next step in strengthening Canada's economic ties with Taiwan. Now is the time for the government to commence negotiations on a foreign investment promotion and protection agreement with Taiwan.