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2006 China Investment MOU

Memorandum of Understanding On Two-Way Investment Promotion Cooperation Between The Investment Promotion Bureau of the Department of Foreign Affairs and International Trade Canada And The Investment Promotion Agency of the Ministry of Commerce of the People’s Republic of China

RECOGNIZING the mutual desire of Canada and the People's Republic of China (" China") to strengthen the two-way investment relationship envisioned in the Canada-China StrategicWorking Group,

The Investment Promotion Bureau of the Department of Foreign Affairs and International Trade Canada (DFAIT) and The Investment Promotion Bureau of the and the Investment Promotion Agency (CIPA) of the Ministry of Commerce of the People’s Republic of China (MOFCOM), referred to collectively as "the Participants", and individually as "Participant",

Have come to the following understanding:

1. Purpose

The Participants intend to:

  1. identify areas of cooperation on two-way investment promotion;
  2. work in close partnership toward broadening and deepening investment ties; and,
  3. stimulate business activities between enterprises in the two countries.

2. Investment promotion activities

The Participants will engage in investment promotion activities, including:

  1. individual company assistance (when required); and
  2. investment seminars and investment promotion missions.

3. Information exchange and potential Investor referrals

The Participants will:

  1. consult on individual investment proposals to increase the potential for identification and introduction of bilateral investment partners;
  2. consider processes for new investment identification and enhanced cross-referral information exchange;
  3. exchange information on investment promotion activities with the view to identifying areas of potential collaboration;
  4. advise each other on publications that introduce investment environment. Regulations and key sectors; and

4. Bilateral investment promotion in key industry sectors

The two countries have their own unique "key" sectors on which investment promotion efforts are focused. China's target sectors for Canadian investment are energy, mining, automotive, construction, Information and Communications Technology (ICT), biotechnology, the environment and services; and Canada's target sectors for investment from China are energy, natural resources, agri-food, automotive, ICT, biotechnology, medical devices, pharmaceuticals and chemicals. Both Participants will discuss measures for enhanced bilateral investment promotion, where possible, in these sectors.

5. Treatment of "in confidence" material

Neither Participant will disclose or distribute any information that is supplied and marked, or stated to be "in-Confidence" by the originating Participant, except as, and to the extent authorized, by the originating Participant.

6. On-going cooperation enhancement

The Participants will meet annually to review progress and discuss further cooperation enhancements to achieve increased two-way investment between Canada and China.

7. Final provisions

  1. This Memorandum of Understanding will come into effect upon signature and will remain in effect for a period of one year;
  2. This Memorandum of Understanding may be renewed on an annual basis with the written consent of the Participants;
  3. This Memorandum of Understanding may be amended upon the mutual written consent of the Participants;
  4. Either Participant may terminate this Memorandum of Understanding upon six months written notice.

Signed in duplicate at Xiamen this 9 th day of September, 2006 in the English, French and Chinese Languages, each version being equally valid.