Minister Carr launches public consultation on foreign investment promotion and protection agreements
From: Global Affairs Canada
August 14, 2018 – Ottawa, Ontario – Global Affairs Canada
Expanding and diversifying Canada’s trade and investment relations contributes directly to our economy and benefits hard-working Canadians. Canada is committed to advancing a progressive trade agenda that reflects and responds to the interests of Canadians, especially women, Indigenous peoples and owners of small and medium-sized enterprises.
Today, the Honourable Jim Carr, Minister of International Trade Diversification, announced the launch of a public consultation on Canada’s foreign investment promotion and protection agreements (FIPAs). This is the first in a series of consultations that will take place as part of Canada’s progressive trade agenda to help the Government of Canada better reflect the views and interests of Canadians, industry and civil society.
This consultation provides an opportunity for interested parties to have their say in improving rules and institutions that support the international trading system. All Canadians are encouraged to participate in the consultation, which will take place from August 14 to October 28, 2018. As part of Canada’s innovative approach to consultations, you can have your say through the online platform PlaceSpeak.com. You are also welcome to visit Global Affairs Canada consultations to share your views and concerns.
“Now, more than ever, it is time to make trade real for people. As a global leader, Canada must help showcase the benefits of a more open, interconnected world that creates real benefits for everyone. Through these public consultations, all Canadians, especially women and Indigenous peoples, are invited to share their views on Canada’s investment agreements and our progressive trade agenda.”
– Jim Carr, Minister of International Trade Diversification
- A FIPA is a bilateral agreement that provides greater predictability and certainty for each country’s investors.
- Canada currently has 36 FIPAs in force around the world.
- Canada’s international investment agreements (FIPAs and free trade agreements) protect over $653 billion worth of Canadian direct investment abroad—approximately 30% of Canada’s GDP in 2017.
Media Relations Office
Global Affairs Canada