The 18th Canada-Taiwan Economic Consultations (CTEC) was held on 21 November 2021. Both sides exchanged views on trade and economic cooperation.

The 18th CTEC covered a wide range of issues including EV supply chain, hydrogen, customs and indigenous affairs cooperation, and STI (Science, Technology and Innovation) collaboration.

Moreover, both sides were delighted to see the continued expansion of industrial exchanges and cooperation through group visits, workshops, and exhibitions.

During the meeting, both sides also affirmed the importance of hydrogen for energy transition and agreed hydrogen will be the next topic for joint study after research on the EV supply chain is completed.

In 2021, our bilateral trade totaled US$5.37 billion, for an annual growth rate of nearly 45%. Taiwan thus became Canada's fifth largest trading partner in Asia. From January to October this year, our bilateral trade exceeded US$5 billion, for an increase of nearly 15% over the same period in 2021.