Mr. Speaker, on October 18, 2012, the House of Commons Standing Committee on International Trade received a presentation from trade policy officials on the Canada-China FIPA. The FIPA was also discussed and voted on in Parliament during the proceedings of an opposition day motion of April 18, 2013.
The Canada-China foreign investment promotion and protection agreement will contribute to jobs and growth by facilitating investment flows between Canada and China, and by providing a more stable and secure environment for investors on both sides of the Pacific. The reciprocal rules that form the basis of these agreements establish a framework providing investors with a predictable rules-based investment climate and access to international arbitration provides an effective binding and impartial method for the resolution of investment disputes.
As is Canada's practice, the provisions and procedures for investor-to-state dispute settlement are clearly laid out and emphasize transparency through elements such as public access to hearings and documents.
This agreement with China, the world's second-largest economy, will provide a stronger protection for Canadians investing in China.