April 22nd, 2013

Statement by International Trade critic, Don Davies, on rejection of his motion

Poorly negotiated by the Conservative government, the Canada-China Foreign Investment Promotion and Protection Act (FIPA) is not in the best interest of Canadians and does not meet our needs. This agreement will bind us to China for 31 years.

It was particularly disappointing to see the Liberals joining hands with the Conservatives to defeat the NDP motion which would prevent the ratification of the Canada-China FIPA.

Negotiated in secret, FIPA was adopted quickly in Parliament, without any debate, study in committee or Members’ vote. The government pushed ahead despite concerns expressed by New Democrats, experts and Canadians.

The NDP wants to increase trade agreements and investments with China and other emerging economies, but it wants to negotiate fair agreements, which allow us to maintain control of our natural resources.

By delaying the ratification of the agreement for the last 5 months, Conservatives are confusing investors and hurting the economy, while making it obvious that even they realize they have negotiated a bad deal. Today they have missed an opportunity to admit their mistake, and formally abandon a deal that is not in Canada’s best interests.