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Statement from Canadian Manufacturers & Exporters on the Canada-China Foreign Investment Protection and Promotion Agreement

Published by Stephanie Brooks on November 02, 2012

Canadian Manufacturers & Exporters (CME) supports the conclusion and implementation of the Foreign Investment Protection and Promotion Agreements (FIPPA) with our trading partners as the deals improve Canadian and foreign investment through providing greater certainty and predictability for investors.

The Canada-China FIPPA will ensure Canadian investments in China receive national and preferred-nation treatment, and thereby be protected from arbitrary measures that could be imposed by governments in China.

Improving Canada's trade and investment performance requires a strong, rules-based trading system that provides an even playing field for Canadian businesses on the global stage. Clear, enforceable, reciprocal and more transparent rules governing investment between the two countries provides a stronger rules-based environment for investment between the two countries.

Canada and China both have several similar agreements with other trading partners and have brought - or lost - a handful of claims under these agreements. There is no evidence that suggests this will change under the current agreement.

FIPPAs preserve Canada's ability to review transactions under the Investment Canada Act. Moreover, the agreement excludes sensitive sectors such as cultural industries, non-discriminatory environmental measures, or measures needed to protect our national security interests. Investment restrictions in other sectors of the economy will remain the same in both countries and will not change as a result of this agreement.

CME is confident dialogue can take place as part of Canada's current discussions with Chinese leaders on how to enhance our economic and trading relationship - these discussions could include ensuring more open and reciprocal access to investment opportunities.

The full text of the Canada-China FIPPA is available here.

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