Trade proposal prioritizes interests of foreign investors over Canadian citizens, locks Canada into 30+ year deal with China
VANCOUVER, Oct. 29, 2012 /CNW/ -
|What:||ForestEthics Advocacy press tele-conference revealing tremendous risks behind PM Harper's proposed Canada-China Foreign Investment Promotion and Protection Act (FIPA). A specific challenge will be tabled to the Federal government.|
|When:||Tuesday, October 30, 9am Eastern|
|Who:||Clayton Ruby, ForestEthics Advocacy board member|
|Tzeporah Berman, ForestEthics co-founder|
|Why:||ForestEthics Advocacy strongly opposes FIPA, a back-room act that PM Harper plans to ratify on Nov 1 with no consultation whatsoever.|
Concerns regarding FIPA:
- FIPA will open up Canadian governments to law suits by Chinese corporate interests if the decisions those governments make (e.g supporting local labour, environmental protection, health and safety) are perceived by the corporation to be unfair to their investment;
- These complaints would happen in secret, unaccountable tribunals run by three-person arbitrators - not in Canadian courts or Canadian legislatures;
- Unlike other major trade agreements like NAFTA, FIPA locks Canada into a 31-year binding agreement. The Act will apply until 2027, when one year's notice to cancel could see on-going protection for pre-existing investors for another 15 years;
- Under the Act, if a province or Federal government refuses to pay millions or billions in lawsuits determined secretly by a foreign arbitration panel, provincial assets could be seized (e.g. BC or Quebec Hydro).
- There has been no public debate, parliamentary scrutiny, or provincial approval of the agreement.
|Where:||Teleconference, please call: 1-866-227-3320 ext. 107884|
For further information:
Nikki Skuce, [email protected], 778-210-0117