What Agreement Exists Between Canada And China

14 Okt What Agreement Exists Between Canada And China

The DFAIT name of the Agreement between the Government of Canada and the Government of the People`s Republic of China on the Promotion and Mutual Protection of Investments The DFAIT name of the Agreement is the Canada-China Agreement on the Promotion and Mutual Protection of Investments. [2] McCarthy Tétrault referred to the agreement as a China-Canada BIT. [3] In Canada, the name of bilateral investment treaties is the Foreign Investment Protection Agreement (PDAC) or the Foreign Investment Protection and Promotion Agreement (PDAC). [Notes 1] Companies that trade bilaterally can use AIFs to protect themselves from public policies that affect the revenues of their operations. [4] [Notes 2] In July 2012,[28] the proposed acquisition of Alberta oil producer Nexen by Chinese state-owned CNOOC “really frightened” Western members of the Conservative Party of Canada, including Harper, who was the member of Parliament for a horse on horseback in Calgary. His government eventually agreed to the takeover because it had finally signed it with the CCPRPIA, but it tightened the regulation of the Investment Canada Act for state-owned enterprises somewhat. [10] In December 2017, Trudeau visited China for the second time, but left without the agreement he had planned to begin formal free trade talks. The Chinese media denounced the Canadian media, which reacted by pointing out that China ranked fifth in the latest ranking of the World Press Freedom Index published by Reporters Without Borders. [37] The two countries jointly proclaimed 2018 the Canada-China Year of Tourism to promote visits inside and outside the two countries. [38] Elizabeth May stated that FIPA posed a threat to Canadian sovereignty. May called the negotiations “mysterious.” The terms of the agreement were not made public until after the fall of the Harper government. Critics said some of the conditions were seen as unfavorable for Canadian investors and citizens.

[16] In 2006, Stephen Harper became Prime Minister of Canada after the election, and he implemented a more militant foreign policy, emphasizing ties to democracies and criticizing undemocracy regimes like China. Harper said his belief in Canadian values such as human rights should not be overshadowed by the “all-powerful dollar.” [Citation required] For example, the Harper government granted the Dalai Lama honorary Canadian citizenship and criticized China`s human rights record and accused it of industrial espionage. Harper also delayed a scheduled meeting between foreign ministers and increased Canada`s participation in Taiwan, which beijing disliked. [Citation required] At the APEC summit in November 2006, China initially appeared to withdraw from an official meeting between Harper and President Hu, but Hu instead opted for a brief informal meeting with Harper, who in particular did not attend the opening ceremonies of the Beijing 2008 Olympics. In 2013, Canadian oil and gas company Nexen became a wholly-owned subsidiary of Hong Kong-based CNOOC Limited. Reuters reported that “the agreement gave CNOOC access to land in the Gulf of Mexico, the British North Sea and off the coast of West Africa.” [113] According to Maclean`s, “the CNOOC-Nexen agreement has caused much controversy as to the acceptability of ownership of Canadian resources by foreign states.