Canada and Mongolia have agreed to begin negotiations towards a Foreign Investment Promotion and Protection Agreement (FIPA) negotiations. The parties have pledged to work together to conclude an agreement in a timely manner. The first round of negotiations took place in January, 2009 in Ulaanbaatar.
A bilateral FIPA will provide greater predictability and certainty for Canadian investors considering investment opportunities in Mongolia. Canada’s objective in entering these negotiations is to secure a comprehensive, high-quality agreement which will protect investors through the establishment of a framework of legally binding rights and obligations.
Canada is the second largest investor in Mongolia. Natural Resources Canada estimates that Canadian companies, led by more than 20 mining and exploration firms, have approximately $400 million in assets in Mongolia. In 2008, the stock of Canada’s direct investment in Mongolia totalled $272 million.
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