China-Canada agreement on FIPA
Canadian Prime Minister Stephen Harper has said that negotiations on a foreign investment promotion and protection agreement between the two countries are over.
The deal still needs to be legally reviewed and ratified by the Canadian and Chinese governments in order to come into force.
A FIPA, as it is known, gives foreign investors equal footing with domestic businesses in either country and business groups.
The bilateral deal would protect and promote additional investment by ensuring more equitable treatment for foreign investors through legally binding obligations in both countries.
The above agreements include co-operation on energy, natural resources, education, science and technology and agriculture.
"The rapidly increasing commercial, cultural and scholastic ties between our two countries are creating new jobs and economic growth that are benefiting Canadian families, businesses and communities,” Harper said in a statement.
Chinese Premier Wen Jiabao told Harper: "The negotiation on China-Canada investment protection agreement has concluded. We hope to sign the important document as soon as possible to facilitate two-way investment.
"China is ready to expand imports of energy and resource products from Canada and enhance co-operation in clean and renewable energy, energy-saving, environmental protection, and the peaceful use of nuclear energy," Wen added.
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