Background on the Canada-Tanzania FIPA Negotiations
Canada and Tanzania have now completed three rounds of negotiations, with the latest round being held from September 15-18, 2008 in Ottawa, Canada. During this last round, both parties re-confirmed the mutual importance and benefits of an agreement and resolved to continue to work together to address any unresolved issues, in the hope of concluding an agreement in a timely manner.
A bilateral FIPA will provide greater predictability and certainty for Canadian investors considering investment opportunities in Tanzania, and will underscore Tanzania’s reliability as an investment destination. 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
The current level of Canadian investment in Tanzania is very significant, Canada being the largest foreign investor in the country. Given the country’s economic reforms and increasing openness to FDI (Foreign Direct Investment), Tanzania offers significant investment opportunities for Canadian investors in a variety of sectors including mining, telecommunication and infrastructure among others.
