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Hong Kong-Canada Investment Promotion Agreement Effective

by Mary Swire, Lowtax.net, Hong Kong
08 September, 2016

The Investment Promotion and Protection Agreement (IPPA) between Hong Kong and Canada came into effect on September 6, the Hong kong Government has announced.

According to Hong Kong's Information Services Department, the Secretary for Commerce & Economic Development, Gregory So, presented a notification to Canadian Minister of International Trade Chrystia Freeland confirming the pact's implementation.

Under the agreement the two sides will provide equal treatment of investors, compensation for expropriation of investments, free transfers abroad of investments, and settlement of investment disputes in accordance with internationally accepted rules.

The agreement is expected to facilitate investment flows between Hong Kong and Canada, and strengthen bilateral economic and trade ties.

The agreement brings the number of IPPAs signed by Hong Kong to 18.

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