Canada has ratified the foreign investment promotion and protection agreement with China. The agreement was signed in September 2012, and will now come into force on October 1, 2014. To view the agreement between The Government of Canada and the Government of the People's Republic of China, please click here.
The agreement will have no direct impact on intellectual property legislation in Canada. However, FIPA does impact on intellectual property rights (IPRs), as IPRs are included in the definition of “investments”. For instance, according to FIPA, transfers of IPRs should be “made freely and without delay”.
The greatest impact of the agreement may be on Canada’s energy sector, in which China has been investing heavily. With fewer restrictions on investment, the oil sands may see greater activity and interest from Chinese companies.