CANADA has finally ratified a foreign investment protection agreement with China after a two-year delay in a step that may help ease tensions between the two countries and smooth the way for a possible visit to China by Prime Minister Stephen Harper.
International Trade Minister Ed Fast announced the ratification Friday, and said the agreement, designed to give investors greater legal certainty, would come into effect Oct. 1. It was signed in September 2012.
Relations between the two governments have been strained by China’s detention last month of Canadians Kevin and Julia Garratt on suspicion they stole state secrets and for threatening national security. The Garratts, who ran a coffee shop in Dandong on the border with North Korea, deny the charges.
“Announcing the FIPA [Foreign Investment Protection Agreement], and consular issues, are separate things that are dealt with separately,” said a Canadian Government official, speaking on condition of anonymity.
The Chinese embassy declined to say whether the ratification could lead to freedom for the Garratts or to a Harper tour.
The Canadian Government says the agreement ensures greater protection against discriminatory and arbitrary practices and provides prompt compensation in the event of expropriation. It says the deal preserves the right of both sides to regulate in the public interest.(SD-Agencies)
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