Canada and Moldova sign new progressive foreign investment promotion and protection agreement
June 12, 2018 - Ottawa, Ontario - Global Affairs Canada
Expanding and diversifying trade and investment initiatives are at the heart of Canada’s progressive trade agenda, which aims to grow the country’s economy and directly benefit hard-working Canadians. Canada and Moldova have enjoyed over 25 years of evolving commercial relations, and both countries are committed to working together to make their international trade and investment policies more transparent, progressive and inclusive.
Today, the Honourable François-Philippe Champagne, Minister of International Trade, and Tudor Ulianovschi, Minister of Foreign Affairs and European Integration of the Republic of Moldova, met in Ottawa to sign the Foreign Investment Promotion and Protection Agreement (FIPA) between Canada and Moldova, along with a joint declaration on progressive and inclusive trade.
During the visit, the two ministers discussed how the agreement will deepen economic ties and expand investment opportunities for businesses in both countries. This bilateral FIPA marks an important step in Canada’s burgeoning ties with Moldova.
The FIPA will provide greater predictability and certainty for Canadian investors considering investments in Moldova and for Moldovan investors in Canada. Through this new agreement, parties also commit to working together to make their trade and investment policies more progressive and inclusive so that all members of society, particularly women, can expand their roles in creating economic growth.
“Through this new agreement, Canada has made a strong commitment to strengthen its economic partnership with Moldova and to ensure that both Canadian and Moldovan businesses can benefit from opportunities to foster greater investment between our two countries. Moldova, like Canada, is a member of the World Trade Organization and La Francophonie, and this agreement marks another important step in Canada’s relationship with Moldova.”
François-Philippe Champagne, Minister of International Trade
A FIPA is a bilateral agreement in which signatory countries commit to provide greater predictability and certainty for each other’s investors.
In 2017, two-way merchandise trade between Canada and Moldova totalled almost $15 million.
Canada and the Republic of Moldova established diplomatic relations in 1992 and, in 2017, celebrated 25 years of diplomatic relations.
Canada is represented in the Republic of Moldova through the Canadian embassy in Bucharest, Romania.
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