Canada, a leader in progressive dispute-resolution mechanisms for international trade
News Release
December 14, 2016 - Ottawa, Ontario - Global Affairs Canada
Trade means more growth, and more growth means more middle class jobs. As part of its continued leadership promoting transparency in international trade, Canada is co-hosting, together with the European Union, a meeting in Geneva, Switzerland, this week, on the development of a new international standard for resolving investment disputes.
At Canada’s initiative, government representatives from around the world are holding exploratory discussions about the establishment of a multilateral mechanism to adjudicate investment disputes—under both future and existing free trade agreements and investment treaties. This multilateral body would be open to all interested countries and an important element of Canada’s progressive trade agenda.
Trade contributes to economic growth and employment, and improving the transparency of the investment dispute-resolution process is of crucial importance. The meeting is intended to be the first in a series that will continue into 2017.
Quotes
“Canada and the EU committed under the Comprehensive Economic and Trade Agreement to develop a new standard for resolving investment disputes related to our international agreements. Canada and the EU see this meeting as an essential step in bringing the benefits of progressive trade to people around the world.”
- Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade
Quick facts
- Forty-five economies will be represented at the meeting, including Canada’s top 10 trading partners.
- The meeting will bring together experts from governments, as well as from relevant international organizations, to discuss key issues related to the establishment of a new multilateral body.
- Canada will be represented at the meeting by officials from Global Affairs Canada.
- Canada and the EU committed in the Comprehensive Economic and Trade Agreement (CETA) to work together toward the establishment of a multilateral mechanism that would eventually replace CETA’s bilateral investment-dispute mechanism.
Contacts
Alex Lawrence
Press Secretary
Office of the Minister of International Trade
alex.lawrence@international.gc.ca
Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
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