Mr. Speaker, last week I asked the Minister for International Trade to confirm that he would not sign the multilateral agreement on investment being negotiated at the OECD unless the Canadian government got exemptions for job creation and other key sectors of great significance to Canada, such as sovereignty over cultural institutions and our natural resources.
My question arose from the fact that the multilateral agreement on investment builds on NAFTA and, like NAFTA, has as its goal the creation of a level playing field for investors from outside Canada.
I am pleased to hear that the government plans to set conditions on foreign investment because, as I understand the agreement, only those sectors that are explicitly excluded by a country are exempt from the national treatment which would be accorded foreign investors under the proposed agreement. Consequently, Canada must negotiate exemptions for certain sectors, among them job creation, control over our natural resources, water, which is of particular interest to western Canada, energy, and possibly investments that would affect our food security.
NAFTA already restricts Canada's ability to require U.S. firms to meet employment targets as a precondition of investing in the country. If this restriction were extended to all OECD nations, the government would have great difficulty directing the investment process so as to promote job creation according to national goals.
Furthermore, there is the risk of signing a trade and investment agreement that will not pay adequate attention to environment
related concerns. I urge an approach which ensures that sustainable development be at the centre of the decision making process both of national governments and international trade institutions.
To conclude, I hope the minister can give assurance that Canada will not sign the agreement unless it retains control over job creation and unless Canada retains sovereignty over water, energy, forests and fisheries.