Mr. Speaker, on Monday, December 10, we are expecting a federal decision on the purchase of Nexen. Canadians are still in the dark about the details, the framework for making this decision and the implications of the cumulative levels of our natural resources that can be sold to other enterprises, including national enterprises. That is just the tip of the iceberg.
Another controversy is linked to that, and that is the pending ratification of the foreign investment protection and promotion agreement, the FIPA, that locks China and Canada into a 31-year trade and investment agreement. Like many Canadians, I have serious concerns about the new FIPA with China.
Everyone in the House knows that trade is vital to our Canadian economy. Historically, Canada has signed foreign investment protection agreements with countries all over the world. It is clear, however, that this agreement is different from any previous FIPAs the Conservative government has signed.
For example, this agreement is with a country that has a non-democratic political system. It has the second largest economy in the world.
Of the approximately 40 FIPAs Canada has signed since 2004, this is the only one that contains provisions allowing the Canadian government to withhold documents from the public and to conduct arbitration hearings behind closed doors. I want to make it clear that I am for trade with China. I am for strong relationships with China. However, I am not for agreements that are signed in the dark.
This agreement would not guarantee market access or real investment protection for Canadian enterprises doing business in China, which means that minimal benefits would accrue to Canadian exporters. However, it would create significant potential financial risks.
Presently, the Canadian government is rapidly eliminating Canada's environmental assessment and navigable waters ecosystem protections. Should a future provincial or federal government decide to restore these environmental safety nets, the agreement could provide Chinese investors with the right to contest any changes that might be seen as affecting their profitability, leading to costly liabilities for Canadian taxpayers and raising serious questions regarding Canadian sovereignty over lands, resources and our environment.
Finally, the federal government has refused to conduct public hearings on this agreement, despite repeated calls from the Liberal Party, trade experts and thousands of Canadian citizens who have significant concerns about the long-term implications of this agreement. Liberals believe that before being finalized, international treaties such as the Canada-China investment agreement must be transparent, include proper consultation and be subject to arm's-length examination to ensure that the best interests of the Canadian people are being served.
That is why I put forward a motion in the House of Commons to require the government to send all such treaties to a parliamentary committee for public hearings and study after being tabled in the House of Commons and prior to the treaty coming into force. If the government was truly committed to being fair, inclusive and open with Canadians, it would support my motion.
It is unacceptable to sign agreements that lack transparency and are closed to the public. The government is not demonstrating any responsibility in this regard. That is why we are calling for transparency and a thorough review by a parliamentary committee.