Background on the Canada-Tunisia Foreign Investment Promotion and Protection Agreement (FIPA)
Canada and Tunisia have agreed to begin negotiations towards a Foreign Investment Promotion and Protection Agreement (FIPA). The parties have pledged to work together to conclude an agreement in a timely manner.
A bilateral FIPA will provide greater predictability and certainty for Canadian investors considering investment opportunities in Tunisia. 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.
Canadian investments in Tunisia are growing, particularly in the oil and gas sector, and Canadian companies have demonstrated sustained interest in participating as investment partners in large infrastructure projects. Canada is the 10th largest foreign investor in Tunisia, having invested more than Cdn$350 million to date, mainly in natural resources, agri-food, engineering-consulting services, and education. Canada is the 2nd largest foreign investor in Tunisia in the oil and gas sector.
