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On November 21, 2013, Foreign Affairs Minister John Baird announced that Canada and Macedonia have agreed to begin negotiations toward a foreign investment promotion and protection agreement (FIPA). A FIPA is a treaty designed to promote and protect Canadian investment abroad and foreign investment in Canada through reciprocal, legally binding provisions. By ensuring greater protection against discriminatory and arbitrary practices, and by enhancing the predictability of a market’s policy framework, a FIPA gives businesses greater confidence to invest. Canada has consistently supported a strong rules-based framework to promote and protect investment through the negotiation of FIPAs. Baird made the announcement in Ottawa with Nikola Poposki, Minister of Foreign Affairs of Macedonia.
For more information on the meeting between the two ministers, please visit Joint Statement by Foreign Affairs Minister John Baird and Foreign Affairs Minister of the Republic of Macedonia Nikola Poposki. |
