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Canada Concludes Investment Agreement with Hong Kong
May 23, 2015 - Boracay, Philippines - International Trade Minister Ed Fast meets with Gregory So, Hong Kong’s Secretary for Commerce and Economic Development, on the margins of the APEC Ministers Responsible for Trade Meeting.
Minister Fast and Secretary So announced the conclusion of negotiations on a foreign investment promotion and protection agreement (FIPA) between Canada and Hong Kong.
FIPAs help ensure fair treatment for investors and create a more predictable and transparent business environment through reciprocal, legally binding provisions. FIPAs set out clear rules governing investment relations, including in the areas of dispute resolution and protection against discriminatory and arbitrary practices, giving businesses greater confidence to invest.
The Harper Government is committed to ensuring that Canadian investments are protected in global markets, which is why Canada has FIPAs in force with 29 countries and continues to negotiate many more.
As a priority market under the Global Markets Action Plan, Hong Kong offers many opportunities for Canadian businesses. Areas of potential growth for Canadian investment in Hong Kong include financial services, sustainable technologies, professional services, agricultural products and processed food, transportation, information and communications technology, and education.
Minister Fast is leading a five-day trade mission to Manila and Cebu, Philippines, from May 24 to 28, 2015, with more than 50 representatives of over 40 companies and organizations. He is joined by Senator Tobias Enverga Jr.
For more information, please visit Minister Fast Leads Trade Mission to Philippines.
Office of the Honourable Ed Fast
Minister of International Trade
Media Relations Office
Foreign Affairs, Trade and Development Canada
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