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Taiwan

Fact Sheet

Taiwan Fact Sheet 

Contacts and Organizations

Taipei Economic and Cultural Office Vancouver
Taiwan Chamber of Commerce in BC
Canadian Trade Commissioner Service – Taiwan

Market Environment

Taiwan, officially the Republic of China (ROC), is an export-driven economy that benefits from a well-functioning legal framework and a tradition of private-sector entrepreneurship.  The market boasts high-quality infrastructure and a well-educated workforce, making it an appealing destination for Canadian investment. Located at the heart of the Asia-Pacific region, Taiwan’s strategic position allows companies to  springboard into Mainland China and the vast lucrative markets of Southeast Asia.

Key Sectors

  • Agriculture
  • Biotechnology
  • Construction & Infrastructure
  • Power
  • Telecom

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Trade Agreements

Trade Shows

Trade Shows in Taiwan

Tourism

Visit Taiwan

Canada and Taiwan Relations

Canada is represented in Taiwan by the Canadian Trade Office in Taipei. This is a locally-incorporated entity staffed by Canadian and local Taiwanese personnel. The trade office facilitates cooperation on:

  • trade and economic relations
  • foreign direct investment
  • science and technology
  • public policy issues
  • human rights
  • indigenous cooperation
  • arts and culture
  • education and youth exchanges
    multilateral cooperation

Our Connections

Currently, there are more than 200,000 people of Taiwanese descent residing in Canada and an estimated 60,000 Canadians living in Taiwan. This makes the island home to one of the largest communities of overseas Canadians in the world, and the Canadian Trade Office in Taipei is Canada’s 5th largest passport-issuing office outside North America.

In November 2010, Canada implemented a visa waiver allowing Taiwan passport-holders visa-free stay for up to six months.

As a result, the number of Taiwanese visitors to Canada has steadily increased, reaching 102,629 in 2016, while the number of Canadians visiting Taiwan has also increased, reaching 106,197 in 2016.

Trade and Economic relations
Taiwan is Canada’s 11th largest trading partner and 5th largest in Asia. Total merchandise trade with Taiwan in 2016 was $6.7 billion, with Canadian exports increasing 8.8 percent to $1.59 billion, and imports from Taiwan dropping by 6.9 percent to $5.08 billion.

Canada’s Priority sectors in Taiwan are:

  • aerospace
  • information and communications technology
  • agri-food and seafood products
  • biotechnology
  • clean technologies
  • energy

Strategic cooperation on trade and economic matters is enhanced by the senior officials-level annual Canada-Taiwan Economic Consultations. This is a platform for setting joint priorities relating to market access, research and innovation, investment and other forms of economic engagement.

These consultations have been instrumental in guiding the Canadian-Taiwanese relationship and have culminated in the signing of numerous arrangements and MOUs in a variety of sectors. In January 2016, a MOU on Telecommunications Cooperation and an Avoidance of Double Taxation Arrangement (ADTA) were signed by the Canadian Trade Office in Taipei and the Taipei Economic and Cultural Office in Ottawa. The ADTA came into force on January 1, 2017.

Foreign Direct Investment

The stock of foreign direct investment in Canada from Taiwan was valued at $134 million at the end of 2016. Meanwhile the stock of Canadian direct investment in Taiwan stood at $18 million in 2016.

As Taiwan’s economy is dominated by small and medium sized enterprises, the majority of Taiwanese investment in Canada has been pursued by smaller companies. Recent Taiwanese investments into Canada are related to financial services, chemical manufacturing, pharmaceuticals, retail and information and communications technology.

New opportunities exist for future Taiwanese investments into Canada’s innovation sectors, including digital health, artificial intelligence, virtual reality, renewable and tradition energy, and biotechnology.

Science and technology

Canada’s science and technology and research and development linkages with Taiwan continue to be among the strongest and most active Canada has anywhere in the world.

The National Research Council, several Canadian universities, and a selection of research-intensive private-sector entities cooperate directly with their Taiwanese counterparts. This cooperation combines Canadian excellence in pure research with Taiwan’s ability to commercialize innovation.

Human Rights

The Canadian Trade Office in Taipei works with Taiwan’s government and civil society to advance democracy and human rights.

This has included:

the 2012 training of Taiwanese government personnel in the implementation of UN human rights conventions a 2013 study tour to Canada by the National Human Rights Institution taskforce of Taiwan’s Presidential Office.

Human Rights Consultative Committee

Seminars and film screenings on LGBTI rights
NGO roundtables on human rights
Ongoing support for the Taiwan Human Rights Journal
The Canadian Trade Office in Taipei has also worked with Taiwan in areas including the rights of migrants and civic journalism.

Indigenous Cooperation

The Canadian Trade Office in Taipei first signed a memorandum of understanding (MOU) with Taiwan’s Council of Indigenous Peoples (CIP) in 1998 and renewed it in 2008.

Since 1998, the trade office and CIP have worked together on culture, education, policy, health and economic development initiatives.

Education and Youth Exchanges

Canada-Taiwan ties are strengthened through education and youth exchanges. Taiwanese enrolled in long-term studies in Canada contribute $101 million to the Canadian economy making Taiwan Canada’s tenth-largest export market for education services. Through the International Experience Canada (IEC) program, an additional 1000 Taiwanese youth visit Canada each year to travel and work.

Multilateral Cooperation

Taiwan and Canada have good cooperation in multilateral organizations where both have representation including the Asia-Pacific Economic Cooperation (APEC) organization and World Trade Organization. In these platforms both sides hold similar views on free trade and economic liberalization.

Canada and Taiwan also cooperate in several regional fisheries management organizations. The goal is to combat illegal fishing practices and help ensure a sustainable framework is in place for managing the world’s fish stocks. Canada continues to support Taiwan’s participation as an observer in the World Health Assembly and we were the first country to hold a bilateral meeting with Taiwan on the margins of the Assembly in 2009.

Canada continues to support Taiwan’s full participation in international organizations that do not require statehood as a prerequisite for membership, and meaningful participation in those that do when a practical imperative exists.

Additional Resources

GUIDE TO DOING BUSINESS IN TAIWAN BY PWC

Asia Pacific Foundation of Canada