Canada Updates Foreign Investment Protection, Promotion Model
Canada last week updated its model Foreign Investment Promotion and Protection Agreement, which will serve as the basis for future investment negotiations and modernize the country’s rules-based environment for foreign direct investment. The model includes “additional transparency provisions” among the new requirements and standards.
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“Foreign investment is an important driver of Canada’s economy and will be critical in our economic recovery from the COVID-19 pandemic,” Mary Ng, Canada’s minister of small business, export promotion and international trade, said May 13. The government, she said, wants to ensure Canadian investors have “necessary protections” abroad and that future investment agreements benefit Canadian industry.