Please use some of these facts if ever in a discussion with the opposition over the China/Canada FIPA Agreement. (Thanks Larry) Thank you taking the time write to me concerning the most recent Canada-China trade agreement. As you may be aware, The Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) was ratified by our government earlier this month. This agreement will help ensure that Canadian companies doing business in China are treated fairly and benefit from a more predictable and transparent business environment. It will give Canadian investors in China the same types of protections that foreign investors have long had in Canada. Specifically, the FIPA sets out clear rules governing investment relations, including dispute resolution and protection against discriminatory and arbitrary practices. It is a reciprocal agreement through which both Canada and China have mutual rights and obligations. This agreement will help both Chinese and Canadian businesses to grow and prosper in more a stable economic environment. China’s rapidly expanding economy and increasing opportunities for foreign direct investment (FDI), the potential of China as a destination for Canadian investment is significant. Canadian investors have expressed interest in a broad range of sectors in China, including transportation, biotechnology, education, finance, information technology, manufacturing, and natural resources. Chinese firms have also expressed a strong interest in investing in Canada, including in the natural resources, renewable energy, information and communication technology, food processing, pharmaceuticals and natural medicine, and advanced manufacturing sectors. The FIPA will encourage economic activity in a regulated environment while preserving the right of both the Canada and China governments to regulate in the public interest. For those who believe otherwise, such as the author of your attached article, you may want to remind them that as one of the world`s strongest economies, Canada currently has FIPAs with 28 countries, all of which are similar to the agreement made with China. Clearly, these agreements have served Canadians well as we remain among the world`s most stable economies. The Canada-China FIPA is also supported by industry leaders across Canada. “We are supportive of any initative that levels the playing field for Canadian businesses looking to expand their export markets. The protections gained from signing this agreement should signal to firms looking to attract foreign investment that there is a defined resolution process,” Jayson Myers, President and CEO of Canadian Manufactures & Exporters (September 12, 2014) “This agreement will help support the growth of these business opportunities between our two countries by providing stronger protection and a more predictable, transparent investment environment for Canadian companies. The certainty and stability provided by the investment rules in FIPA can only help to strengthen our economic relationships, Janet Ecker, President and CEO of the Toronto Financial Services Alliance (September 12, 2014) Since taking office, our Conservative Government has strong track record of maintaining and a strong prosperous economy. With solid domestic policies and expanding international markets we will continue to work to ensure that our economy remains a world leader. Again, thank you for your email. I hope that this addresses your concern. Sincerely, Member of Parliament Selkirk-Interlake, Manitoba jamesbezan
Posted on: Sat, 04 Oct 2014 03:47:57 +0000
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