MEMORANDUM OF UNDERSTANDING
ON BILATERAL INVESTMENT PROMOTION
BETWEEN
THE CANADIAN TRADE OFFICE IN TAIPEI
AND
THE TAIPEI ECONOMIC AND CULTURAL OFFICE IN CANADA
The CANADIAN TRADE OFFICE IN TAIPEI (CTOT) and the TAIPEI ECONOMIC AND CULTURAL OFFICE in Canada (TECO), hereinafter jointly referred to as the "Participants",
UNDERSTANDING the extent to which Taiwanese companies growing in Canada are contributing to Canada's economic growth, and the extent to which Canadian companies growing in Taiwan are contributing to Taiwan's economic growth;
IN RECOGNITION that Canada is identified under Taiwan's Global Deployment Initiative; and
HAVING IDENTIFIED opportunities to collaborate in investment attraction activities and company referrals, in recognition of their common investment objectives;
HAVE COME to the following understanding:
1. COORDINATING AGENCIES
In their collaborative relationship, the Participants will be supported by Coordinating Agencies:
- For the CTOT: Firstly, the Invest in Canada Bureau of the Department of Foreign Affairs and International Trade of Canada, which is Canada's investment attraction and promotion body. It collaborates with key economic departments at all levels of government in Canada, as well as with Canada's missions abroad, to increase the level of foreign direct investment in Canada and thereby contribute to Canadian prosperity. Secondly, the Global Operations Branch of the Department of Foreign Affairs and International Trade of Canada, which plays a key role with the Trade Commissioner Service in facilitating Canadian direct investment abroad by helping Canadian clients make better business decisions in order to achieve their goals abroad. It recognizes that direct investment is a vital factor in long- term economic development. As such, it collaborates with partner departments and agencies to create the enabling environment to allow businesses to respond to international opportunities, changing environment. challenges, risks and competition in a rapidly changing environment.
- For the TECO: The Department of Investment Services of the Ministry of Economic Affairs (DOIS), which is responsible for attracting foreign investment, promoting technical cooperation between domestic and foreign companies, and assisting domestic companies to invest abroad. Other important DOIS duties are: the promotion of investment projects, removal of investment obstacles, and the liaison regarding bilateral and multilateral investment matters.
- The Invest in Canada Bureau, the Global Operations Branch, and DOIS are hereinafter referred to jointly as the "Coordinating Agencies".
2. LEGAL EFFECT
This Memorandum of Understanding (MOU) sets out the intention and understanding of the Participants for collaborative work in the area of investment promotion and is not intended to create lany legal obligations at domestic or international law between the Participants or between the Coordinating Agencies.
3. SCOPE OF BILATERAL INVESTMENT ATTRACTION IN KEY SECTORS
The Participants recognize that each side has its own unique priority sectors which will be identified in the yearly action plan. The Participants and Coordinating Agencies will jointly discuss measures for enhanced bilateral investment promotion, where possible, in these sectors.
4. INVESTMENT COOPERATION ACTIVITIES AND EXPECTED OUTCOMES UNDER THIS MOU
- The Participants may, being supported by their respective Coordinating Agencies, collaborate in investment cooperation through some or all of the following activities:
- support incoming company visits to facilitate investment in priority sectors;
- suppprt ongoing investment projects;
- facilitate meetings between industry experts and interested investors; and
- provide key industry connections and service providers to interested investors.
- By working collaboratively, the Participants and Coordinating Agencies expect to utilize each others' services for the mutual benefit of their clients and to promote the economic growth of both Canada and Taiwan. The Participants will identify measurable targets in the Action Plan to be developed annually.
5. REVIEW OF PROGRESS UNDER THIS MOU
CTOT and DOIS will meet at least twice a year to review progress under this MOU.
6. CONFIDENTIALITY
The Participants and Coordinating Agencies will not disclose nor distribute any infomlation that is supplied or marked confidential by the originating Participant or Coordinating Agency except as and to the extent authorized by the originating Participant or Coordinating Agency.
7. PERSONNEL
Each Participant will designate a contact person to co-ordinate the discussions, activities, and tasks under the Action Plan and will notify the other Participant of this contact person in Writing.
8. FUNDING
Unless otherwise mutually decided in writing, each Participant and Coordinating Agency will bear its own costs of participating in cooperative activities under this MOU.
9. COMING INTO EFFECT, AMENDMENT, RENEWAL AND TERMINATION
- This MOU twill come into effect upon signature by both Participants and will remain in ettect for a period of two years, unless terminated earlier. Either CTOT or TECO may terminate this MOU on ninety (90) days' written notice to the other.
- This MOU rtlay be renewed or amended with the mutual written consent of CTQT and TECO.
