Canada and Madagascar concluded negotiations for a Foreign Investment Promotion and Protection Agreement (FIPA) in August 2008. This bilateral FIPA will enhance Canadian investors’ confidence when considering investment opportunities in Madagascar, and will underscore Madagascar’s reliability as an investment destination. The agreement will protect investors by establishing a framework of legally binding rights and obligations. Signature of the agreement has been delayed until the political crisis in Madagascar has been resolved.
At the request of the private sector, Canada agreed in 2007 to negotiate a FIPA with the Republic of Madagascar. Exploratory discussions were held in November 2007 in Antananarivo, Madagascar, followed by two rounds of negotiations which also took place in Anatanarivo in March and May of 2008. Final negotiations took place over the course of the summer and concluded in August.
Madagascar offers significant investment opportunities for Canadian investors in a variety of sectors including mining, agriculture and infrastructure, among others. Merchandise exports between Canada and Madagascar in 2007 were $11 million. Canadian investments in Madagascar will soon reach $3 billion. Canada is now the largest foreign investor in Madagascar.
If you have questions or comments, please contact Foreign Affairs and International Trade Canada at:
Investment Trade Policy Division (TNI)
Foreign Affairs and International Trade Canada
Lester B. Pearson Building
125 Sussex Drive
Ottawa, Ontario K1A 0G2