Canada, China tighten trade ties.... (legal, Obama, companies, politicians)

[GTOlover]

BEIJING — Prime Minister Stephen Harper trumpeted Wednesday the conclusion of negotiations on a foreign-investment agreement with China as an example of warming bilateral relations, but promised it won’t deter him from raising his government’s concerns over human rights.

On the first full day of his trade mission to the Middle Kingdom, Harper announced Canada and China have concluded negotiations on a Foreign Investment Promotion and Protection Agreement (FIPA) that’s nearly 20 years in the making, although legal and bureaucratic hurdles remain before it can become law.

The prime minister and Chinese Premier Wen Jiabao agreed to a half-dozen co-operation agreements on natural resources, environment, education, agriculture, and science and technology that they say will boost two-way trade and investment between the two countries.

Harper and a handful of his senior cabinet ministers also held a cordial meeting with Wen and top Chinese government officials, where the prime minister highlighted the growing economic and social ties between Canada and China — but also the need to address consular issues and human rights.
The prime minister received a much friendlier greeting from the Chinese officials than during his last visit in December 2009, a meeting that saw Wen chide Harper for waiting “too long” to visit China.

Indeed, Sino-Canadian relations appear to be in a warming trend.

Harper announced the two countries have completed negotiations, concluded a legal text and signed a “declaration of intent” on a FIPA. However, both Canada and China must perform an exhaustive legal review in English, French and Mandarin and then ratify it before it can become law — a process that could take several months.

“This agreement is an historic step forward. When implemented, it will provide greater predictability and protection for Canadians seeking to do business in China,” Harper told reporters following his bilateral meeting.

“We look forward to continuing to strengthen our strategic partnership with China while, of course, also maintaining a frank and respectful dialogue on issues of human rights and the rule of law.”

Canada has been negotiating with China on a FIPA since 1994, and the Harper government has been under increasing pressure in recent months — from Canadian companies and industries looking to do business in the country — to finally seal the deal.

The bilateral agreement would protect and promote additional investment by ensuring more equitable treatment for foreign investors through legally binding obligations in both countries. It would also provide arbitration for companies that fear discriminatory or arbitrary practices.

Once the governments sign the deal, Harper has vowed to table the FIPA in the House of Commons for 21 sitting days for members of Parliament to review and debate. It would take effect after it is given royal assent and the Chinese complete their own ratification process.

Canadian direct investment in China reached a record $4.8-billion in 2010 — an increase of 38% over 2009 — including in the financial services, transportation and technology sectors.

Chinese direct investment in Canada totalled $14.1-billion in 2010, a 9% increase over the previous year. Chinese firms are keen to invest in the natural resources and renewable energy sectors.

Canada currently has FIPAs with 24 countries and is negotiating with 10 others.

Harper and cabinet ministers Ed Fast, international trade, Joe Oliver, natural resources, Gerry Ritz, agriculture and John Baird, foreign affairs gathered around a large boardroom table for a one-hour bilateral meeting with Wen and his ministers.

“Together Canada and China enjoy a strategic partnership based on respect and admiration,” Harper told the Chinese politicians.

He also briefly noted his desire to address consular issues and human rights — at which point media were escorted out of the meeting room.

Wen, through a translator, said Harper’s last visit “opened a new page in our bilateral relationship.”

“At present, the international situation is undergoing profound and complex changes. Strengthening communication and cooperation is our shared aspiration and also serves the fundamental interests of our two countries,” he said.

Source: Stephen Harper: China, Canada tighten trade ties | Economy | News | Financial Post

[GTOlover]

All this Came from the Keystone XL pipeline not getting approved but on the other hand it is good to see our (Canadian) markets become more diverse and grow.

This could either blow up in our faces and ship even more Canadian and North American jobs overseas or have the reverse effect and create a more jobs here in North America...

I hope for both the U.S. and Canada's Benifit it is the latter.

[hawkeye2009]

Originally Posted by GTOlover

BEIJING — Prime Minister Stephen Harper trumpeted Wednesday the conclusion of negotiations on a foreign-investment agreement with China as an example of warming bilateral relations, but promised it won’t deter him from raising his government’s concerns over human rights.

On the first full day of his trade mission to the Middle Kingdom, Harper announced Canada and China have concluded negotiations on a Foreign Investment Promotion and Protection Agreement (FIPA) that’s nearly 20 years in the making, although legal and bureaucratic hurdles remain before it can become law.

The prime minister and Chinese Premier Wen Jiabao agreed to a half-dozen co-operation agreements on natural resources, environment, education, agriculture, and science and technology that they say will boost two-way trade and investment between the two countries.

Harper and a handful of his senior cabinet ministers also held a cordial meeting with Wen and top Chinese government officials, where the prime minister highlighted the growing economic and social ties between Canada and China — but also the need to address consular issues and human rights.
The prime minister received a much friendlier greeting from the Chinese officials than during his last visit in December 2009, a meeting that saw Wen chide Harper for waiting “too long” to visit China.

Indeed, Sino-Canadian relations appear to be in a warming trend.

Harper announced the two countries have completed negotiations, concluded a legal text and signed a “declaration of intent” on a FIPA. However, both Canada and China must perform an exhaustive legal review in English, French and Mandarin and then ratify it before it can become law — a process that could take several months.

“This agreement is an historic step forward. When implemented, it will provide greater predictability and protection for Canadians seeking to do business in China,” Harper told reporters following his bilateral meeting.

“We look forward to continuing to strengthen our strategic partnership with China while, of course, also maintaining a frank and respectful dialogue on issues of human rights and the rule of law.”

Canada has been negotiating with China on a FIPA since 1994, and the Harper government has been under increasing pressure in recent months — from Canadian companies and industries looking to do business in the country — to finally seal the deal.

The bilateral agreement would protect and promote additional investment by ensuring more equitable treatment for foreign investors through legally binding obligations in both countries. It would also provide arbitration for companies that fear discriminatory or arbitrary practices.

Once the governments sign the deal, Harper has vowed to table the FIPA in the House of Commons for 21 sitting days for members of Parliament to review and debate. It would take effect after it is given royal assent and the Chinese complete their own ratification process.

Canadian direct investment in China reached a record $4.8-billion in 2010 — an increase of 38% over 2009 — including in the financial services, transportation and technology sectors.

Chinese direct investment in Canada totalled $14.1-billion in 2010, a 9% increase over the previous year. Chinese firms are keen to invest in the natural resources and renewable energy sectors.

Canada currently has FIPAs with 24 countries and is negotiating with 10 others.

Harper and cabinet ministers Ed Fast, international trade, Joe Oliver, natural resources, Gerry Ritz, agriculture and John Baird, foreign affairs gathered around a large boardroom table for a one-hour bilateral meeting with Wen and his ministers.

“Together Canada and China enjoy a strategic partnership based on respect and admiration,” Harper told the Chinese politicians.

He also briefly noted his desire to address consular issues and human rights — at which point media were escorted out of the meeting room.

Wen, through a translator, said Harper’s last visit “opened a new page in our bilateral relationship.”

“At present, the international situation is undergoing profound and complex changes. Strengthening communication and cooperation is our shared aspiration and also serves the fundamental interests of our two countries,” he said.

Source: Stephen Harper: China, Canada tighten trade ties | Economy | News | Financial Post

Thank you, president Obama, for screwing up another trade deal. Obama is simply priceless. As no one could be as stupid as he appears to be, his presidency must be an intentional malicious action against the US.

[HappyTexan]

Then look at the bigger picture involving China. They are going worldwide making their deals with countries.