September 12, 2014 – Vancouver, BC – The Asia Pacific Foundation of Canada (APF Canada) welcomes the announcement that the Canada-China foreign investment promotion and protection agreement (FIPA) has been ratified. FIPA is a bilateral agreement that protects and promotes foreign investment through legally-binding obligations and rights for businesses from both countries.
Stewart Beck, President and CEO of APF Canada, said: “We are very pleased that Canada has ratified the investment agreement with China. China is our second-largest trading partner, and there is still much opportunity for growth in trade and for Canadian firms to expand in the country. This agreement is an important step towards providing Canadian companies looking to do business in China with greater support, protection, and confidence.”
The Canada-China FIPA was first announced in September 2012 and will come into force on October 1.
According to The Asia Factor, China is Canada’s second-largest trading partner after the United States, and its largest in Asia. Two-way trade between the two countries totaled $73.2 billion in 2013. The Asia Factor is APF Canada's interactive project which tracks data on Canada-Asia relations across Canada.
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About the Asia Pacific Foundation of Canada
The Asia Pacific Foundation of Canada (APF Canada) has been a leader in research and analysis on Canada’s relations with Asia for thirty years. Our mission is to develop ideas for action by Canadian businesses, governments, and individuals to help them seize the vast opportunities unfolding in Asia. We do this by offering clear, specific, and actionable policy advice and leadership based on sound research and analysis. APF Canada’s current thematic priorities include trade and investment, energy and the environment, and international education. Engaged in research and convening, APF Canada has developed strong ties with policy-makers, business leaders, academics, and opinion makers in Canada and throughout the Asia Pacific region. Visit APF Canada at www.asiapacific.ca.
For more information please contact:
Asia Pacific Foundation of Canada