Canada and Serbia Signed a New Bilateral Investment Treaty
On 1 September 2014, Serbia and Canada signed a "foreign investment promotion and protection agreement" during Canadian Foreign Minister John Baird's visit to Belgrade.
The FIPA is a treaty designed to protect and promote Canadian investment in Serbia and Serbian investments in Canada through reciprocal, legally binding provisions. By ensuring greater protection against discriminatory and arbitrary practices and by enhancing the predictability of a market’s policy framework, it is hoped that the FIPA will give businesses greater confidence in investing.
"There are 50 Canadian companies that do business in Serbia today, 13 of which are conducting geological researches. In total, they invested some 125 million U.S. dollars in Serbia so far, and we hope that this will increase in the future," said Ljajic, the Serbian Minister of Trade. He added that the agreement presents an assurance to Canadian businessmen that Serbia respects "international standards in the protection of investor rights and that it is a safe country for all foreign investors."
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