Canada cements trade relations in Africa


Canada is seeking to increase trade with Africa following the signing of foreign investment promotion and protection agreements (FIPAs) with three sub-Saharan African countries.

The agreements signed with Côte d’Ivoire, Mali and Senegal aims to ensure fair treatment and create a more predictable and transparent business environment between Canada and the countries.

The FIPAs were signed by Canadian Minister of International Trade Christian Paradis and his counterparts from the three countries on the margins of the 15th Francophonie Summit and the first Francophonie Economic Forum in Dakar, Senegal in November.

Apart from ensuring fair treatment and creating a more predictable and transparent business environment, FIPAs set out clear rules governing investment relations including dispute resolution and protection against discriminatory and arbitrary practices and creating a secure and predictable environment.

They are also critical in improving the business climate through increasing investment and trade thus contributing to sustainable economic growth.

SOURCE

Canada – Ministry of Foreign Affairs


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