MP defends agreement

The acquisitions of Canadian resources by foreign investors are subject to the Investment Canada Act

In his Nov. 7 letter, Patrick MacDonald suggests that citizens should use “Google” and rely on internet “experts” as a source of information on agreements such as the recently proposed Canada China FIPA. Rather than relying on internet “experts” who frequently circulate false and misleading information, I would suggest that citizens instead view the FIPA agreement directly and decide for themselves what this agreement is really all about. Contrary to what you may have heard from the “experts,” this 31-page agreement is not in any way secret (as has been frequently incorrectly stated) and can be viewed publicly online and I am also happy to provide written copies.

Directly viewing the FIPA agreement will also dispel many of the other frequent myths being circulated online and elsewhere. For example, the FIPA agreement does not in any way “give away” Canadian resources. The acquisitions of Canadian resources by foreign investors are subject to the Investment Canada Act and cannot be overridden by a FIPA agreement. This point is actually stated clearly in the Canada-China FIPA agreement that decisions made under the Investment Canada Act cannot be subject to the dispute settlement provisions outlined in the proposed FIPA agreement.

Mr. MacDonald also takes issue with the proposed CNOOC/Nexen transaction. As mentioned previously, an approval for this proposal is subject to the Investment Canada Act and not a FIPA agreement. The government of Canada will make a determination that will be made based on the six clear factors that are laid out in detail in section 20 of the Investment Canada Act. This decision will only be made after very careful review and extensive scrutiny.

What is also interesting is what individuals like Mr. MacDonald don’t tell you. As noted recently by B.C. NDP MP Peter Julian, there were 10,000 foreign investment applications approved when the Liberals were in power, all of them rubber stamped. They never rejected a single one and never attached conditions. It is our Conservative government that is the first in modern day history to reject foreign ownership of Canadian-owned resources as was recently done with the rejection of the Malaysian Petronas proposal and was also done with the rejection of the Potash Corporation of Saskatchewan in 2010.

Personal insults from Mr. MacDonald aside, our government will continue to make decisions that build on our track record of encouraging economic growth, job creation and prosperity in Canada.

Dan Albas, MP

 

Okanagan-Coquihalla

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Toronto Public Health nurse Lalaine Agarin makes preparations at Toronto’s mass vaccination clinic, Jan. 17, 2021. THE CANADIAN PRESS/Frank Gunn
3 deaths, 234 new cases of COVID-19 in Interior Health over the weekend

One death connected to outbreak at Kamloops’ Royal Inland Hospital, where 20 patients and 28 staff have tested positive

Head Brewer Kody Rosentreter, owner Wes Greve and taproom manager Lisa Deleo celebrated North Basin Brewing’s grand opening Jan. 22 and 23, 2020. (Contributed)
Osoyoos’ first microbrewery celebrates grand opening

The brewery hopes to show that the Okanagan is more than just wine country

Once complete, the Ambrosia in Keremeos will house more than 100 seniors, families and those on disability. (LSCSS photo)
Keremeos affordable housing suites coming along

Once complete, Ambrosia will house more than 100 people

Penticton Search and Rescue completed two rescues in succession of each other Saturday, Jan. 23, 2021 afternoon. (PENSAR / Facebook)
Penticton Search and Rescue members execute back-to-back rescues

PENSAR had barely completed their first rescue of the day when they received a second call

(THE NEWS – files)
Snowy days ahead for the Okanagan and Shuswap

The region could get up to 5 cm by Thursday

Crews with Discovery Channel film as an Aggressive Towing driver moves a Grumman S2F Tracker aircraft around a 90-degree turn from its compound and onto the road on Saturday, Jan. 23, 2021. It was the “most difficult” part of the move for the airplane, one organizer said. (Jenna Hauck/ Chilliwack Progress)
VIDEO: Vintage military plane gets towed from Chilliwack to Greater Victoria

Grumman CP-121 Tracker’s eventual home the British Columbia Aviation Museum on Vancouver Island

Heather Barker. (File)
Manslaughter charge laid in Vernon woman’s 2018 death

Shaun Ross Wiebe, 43, faces manslaughter and assault charges related to the death of Heather Barker

Zaudanawng “Jay-Dan” Maran in his Creston home. Hanging on the wall behind him is a logo of Kachin’s Manaw festival. Photo: Aaron Hemens
From Myanmar to Creston: The story of a refugee

In October 2007, Zaudanawng “Jay-Dan” Maran and his friends encountered a woman being sexually assaulted by two Myanmar soldiers.

Kamloops This Week.
48 COVID-19 cases and one death associated with outbreak at Kamloops hospital

One of the 20 patients infected has died, meanwhile 28 staff with COVID-19 are isolating at home

The City of Vernon is sending a letter to the provincial government to request that church be deemed an essential service amid the pandemic. (Brendan Shykora - Morning Star)
Vernon mayor scolded for revealing stance on making church essential

Coun. Scott Anderson calls Cummings’ actions ‘arrogant’

The scene of a serious crash on Highway 33 in Kelowna that killed one and severely injured two others on June 20, 2018. (File)
Driver found guilty of causing death, injury in 2018 Kelowna crash

Travis Ryan Hennessy will face sentencing at a later date

(Michael Rodriguez - Capital News staff)
Downtown stairwell fire suspicious, Kelowna RCMP say

Crews were called to Gotham Nightclub for a report of a stairwell fire

Rolling seven-day average of cases by B.C. health authority to Jan. 21. Fraser Health in purple, Vancouver Coastal red, Interior Health orange, Northern Health green and Vancouver Island blue. (B.C. Centre for Disease Control)
2nd COVID vaccine doses on hold as B.C. delivery delayed again

New COVID-19 cases slowing in Fraser Health region

Kelowna Mayor Colin Basran addresses media from the front steps of council chambers on March 23. (Michael Rodriguez - Capital News)
Kelowna, West Kelowna still looking to opt-out of speculation tax

Mayors say spec tax has missed the mark, revenue largely coming out of Canadians’ pockets

Most Read