FIPA and Emerrson-The Rat

China-Canada free trade pact may conclude in 2 years: Emerson

CIV - Canada and China have kicked off the first step towards a free trade agreement lately by devoting efforts to negotiate the long-awaited foreign investment protection agreement (FIPA), said international trade minister David Emerson in a teleconference with the Chinese media yesterday. Emerson said the China-Canada free trade agreement might be able to achieve within 2 years.

Chinese minister of commerce Bo Xilai visited Ottawa this week, and had held a in-camera meeting with Emerson. The opposition has been urging Emerson to disclose what was discussed on the meeting.

Just weeks before Bo's visit, the standing committee of international trade submitted a report dubbed "TEN STEPS TO A BETTER TRADE POLICY" which suggests Canada to wrap up more free trade talks with different countries. China being one of the most urgent ones. Emerson had said then that reaching a FTA with China is his "ultimate goal".

1. Protecting Bilateral Foreign Investment

• Canada and China must conclude a high standards foreign investment protection agreement (FIPA) as soon as possible, so that the rights and obligations of each country are clear to investors.
• Given the importance of the FIPA for potential Canadian investors, the consultation process with the business community must ensure that vital business interests are fully understood by government negotiators and reflected in the eventual agreement.

FIPA would make the foundation for further talks towards a free trade agreement, Emerson said.

Moreover, Emerson has relayed Canada's position on the approved destination status (ADS) negotiations that a deal should come down earlier than later. According to Emerson, Bo Xilai agreed there has been too long a delay and he promised to discuss with his colleagues to see if anything could be sped up.

Emerson also said he had brought up human rights and the Celil case with Bo.

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