The Investment Promotion and Protection Agreement (IPPA) between Hong Kong and Canada entered into force today (September 6), bringing the total number of IPPAs in force between Hong Kong and other economies to 18.

     Under the IPPA, the two sides undertake to provide investors of the other side with fair, equitable and non-discriminatory treatment of investments; compensation for expropriation of investments; and the right to free transfers abroad of investments and returns. The IPPA also provides for settlement of investment disputes under internationally accepted rules. The IPPA will give additional assurance to investors, facilitate investment flows between Hong Kong and Canada, and further strengthen the economic and trade ties of both places.

     The IPPA will remain in force after its entry into force unless terminated by either party.

     The IPPA was signed in February 2016. By today (September 6) both sides have notified each other of the completion of their respective procedures required for the entry into force of the agreement.

     Hong Kong has so far signed 18 IPPAs with other economies: the Netherlands, Australia, Denmark, Sweden, Switzerland, New Zealand, Italy, France, Germany, the Belgo-Luxembourg Economic Union, Austria, Japan, Korea, the United Kingdom, Thailand, Finland, Kuwait and Canada.

Ends/Tuesday, September 6, 2016
Issued at HKT 17:13

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