Canada is committed to diversifying its trade relationships and improving its commercial partnerships around the world. The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, today announced the launch of negotiations to modernize the 1999 Foreign Investment Promotion and Protection Agreement (FIPA) between Canada and Uruguay.
A modernized FIPA between Canada and Uruguay will support Canada's efforts to diversify and strengthen trade and investment between both countries, while reinforcing economic cooperation in the hemisphere.
The Government of Canada updated its FIPA model in 2021 to ensure that the benefits of trade and investment in a stable, rules-based environment are more widely shared across Canadian society and that of our bilateral partner, including for women, Indigenous peoples, and small and medium-sized enterprises.
