FIPA with China
FIPA, the Canada-China Foreign Investment Promotion and Protection Agreement went into effect on October 1, 2014, after being ratified by the Harper Conservatives with the support of the Trudeau Liberals.
Results of the Agreement:
- It contains ” non-reciprocal elements and unique concessions to China.”
- It is “uniquely secretive because of the international legal right it gives the federal government to keep lawsuits by Chinese investors against Canada confidential until an award has been issued. This means that the government can settle a controversial lawsuit by changing its decisions, or paying out public money, without public knowledge.”
The earliest date that Canada can terminate the FIPA, according to its terms, is Oct. 1, 2030. If the FIPA is terminated at that time, it will continue to apply to existing Chinese investments until 2045.¹
Gus Van Harten June 30, 2015 | Contributed to The Globe and Mail: The FIPA with China restricts Canada’s options on climate change
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