Announces coming into force of Canada-Benin FIPA
May 27, 2014 - Ottawa, Ontario - Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today participated in Africa Day celebrations in Ottawa and invited Canadian business representatives, especially from small and medium-sized enterprises (SMEs) looking to expand, to join a trade mission to South Africa and Tanzania from June 22 to 27, 2014.
Minister Fast also announced the entry into force of a foreign investment protection agreement (FIPA) with Benin this month. By ensuring greater protection against discriminatory and arbitrary practices and by enhancing the predictability of a market’s policy framework, a FIPA provides businesses with greater confidence in investing and facilitates investment flows, contributing to job creation and economic growth in both countries.
The trade mission will focus on the extractive sector and renewable energy and power, priority sectors identified under the Global Markets Action Plan. Sector-focused trade missions are part of the Government of Canada’s pro-trade plan to support Canadian businesses, especially SMEs, explore opportunities and penetrate new markets for their products and services.
The Canada-Benin agreement is Canada’s third FIPA brought into force in Africa, after Egypt and Tanzania, and brings the total to 27 FIPAs in force around the world.
Shannon Gutoskie
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade
613-992-7332
Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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