Canada-China Foreign Investment Promotion And Protection Agreement

The Huffington Post Canada  |  By Posted: 10/01/2012 1:52 pm EDT Updated: 10/01/2012 2:32 pm EDT

Canada China Investment Trade Deal

A China-Canada trade agreement the Harper government signed earlier this month amounts to a “corporate rights pact” that will make it harder for Canada to enforce environmental, energy and financial policies, the Council of Canadians says.

The left-leaning citizens’ group has issued a statement saying the Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) would lead to lawsuits against the government of Canada that would inevitably force it to weaken environmental protections, and urged the government to follow Australia’s lead and stop negotiating these types of deals.

The Council also said the pact would have little impact on trade with China.

There is very little evidence that these corporate rights pacts actually encourage investment into or out of Canada, or any other country for that matter,” Stuart Trew, a trade campaigner with the Council of Canadians, said in a statement.

“They are very useful, on the other hand, for extorting governments when things don’t go their way. That could be delays or cancellations to energy and mining projects, environmental policies that eat into profits, even financial rules designed to create stability or avoid crises can be challenged.”  read entire article here…