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Canada-China Investment Treaty to Come into Force Oct. 1
By Susan Lunn, CBC News Sep 16, 2014
Conservatives ratify foreign investment treaty more than 2 years after signing deal
Ottawa confirms it has ratified a foreign investment treaty with China, more than two years after the controversial agreement was signed, as CBC News first reported Friday.
The controversial Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) will come into force on Oct. 1, said International Trade Minister Ed Fast in a news release Friday afternoon.
“Investment agreements provide the protection and the confidence Canadian investors need to expand, grow and succeed abroad.
"We remain committed to opening new markets around the world for Canadian companies, including in the fast-growing Asia-Pacific region. This FIPA will create jobs and economic opportunities for Canadians in every region of the country," said Fast.
The agreement with China, signed in 2012, provides a framework of legal obligations and rights that would enhance foreign investment.
During a February 2012 visit to China, Harper said he "absolutely" expected that it will make a "practical difference."
China ratified the deal quickly, but the Harper government did not.
The deal has also faced opposition from the NDP, as well as a First Nations group who challenged the agreement in court.
Read Full Article on CBC News »