Open letter to MP Ryan Leef:
Re: the Canada-China Foreign Investment Protection Act (FIPPA):
I find it supremely troubling that a trade agreement negotiated in secret with the largest non-democratic country in the world will come into effect on Nov. 1 and lock our nation into its terms for 31 years.
These secret negotiations can only be met with shock and dismay. The agreement is basically a corporate bill of rights that limits our ability to increase environmental, health, social or labour standards if they are deemed to negatively impact profit margins for the Chinese corporations.
Not only is this agreement being negotiated in secret, but the rights that will be enacted and given to Chinese investors include the ability to challenge Canadian legislative and judicial decisions in secret, and to receive potentially massive monetary awards from the tribunal decisions, which operate above the authority of Canadian courts and laws.
Even the results of the secret tribunals such as these potentially massive payouts would likely be kept secret.
The negative impacts of this “investment” agreement are so far reaching, enduring and one sided that I feel even debate on the matter is insufficient. Any attempt to ratify the Canada-China Foreign Investment Protection Agreement must be defeated and any attempt to form a replacement agreement must start from scratch, be conducted with complete transparency and have full public consultation.
Mr. Leef, I strongly urge you to oppose this act and to properly represent your constituents by publicly stating how the Canada-China FIPPA is not good for our territory or for the country as a whole.