MEMORANDUM OF UNDERSTANDING
ON INVESTMENT PROMOTION COOPERATION

BETWEEN

THE INVEST IN CANADA BUREAU OF
THE INVESTMENT, INNOVATION AND SECTORS BRANCH OF
THE DEPARTMENT OF FOREIGN AFFAIRS AND
INTERNATIONAL TRADE OF CANADA

AND

THE COMMERCE AND ECONOMIC DEVELOPMENT BUREAU OF
THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF
THE PEOPLE'S REPUBLIC OF CHINA

The INVEST IN CANADA BUREAU (ICB) of the Department of Foreign Affairs and International Trade of Canada and the COMMERCE AND ECONOMIC DEVELOPMENT BUREAU (CEDB) of the Hong Kong Special Administrative Region (HKSAR) of the People's Republic of China, herein jointly referred to as the "Participants" and individually as "Participant",

IN RECOGNITION of the mutual desire of Canada and the HKSAR of the People's Republic of China to strengthen their investment relationship; and

HAVING IDENTIFIED common objectives of working in close partnership toward broadening and deepening investment ties; identifying areas of cooperation on investment promotion; and stimulating business activities by offering practical information and support to the enterprises in the two places;

HAVE COME to the following understanding:

1. COORDINATING AGENClES

In their collaborative relationship, the Participants will be supported by Coordinating Agencies.

2. DEFINITIONS

For the purposes of the present Memorandum of Understanding (MOU):

1. "Action Plan" means the Action Plan to be developed by the Participants under paragraph 3 of this MOU;
2. "Coordinating Agencies" means:
   1. for the ICB: First, the Global Operations Branch of the Department of Foreign Affairs and International Trade of Canada and second, the Consulate General of Canada in Hong Kong; and
   2. for the CEDB: The Hong Kong Economic and Trade Office in Toronto.

3. EXPECTED OUTCOMES OF THIS MEMORANDUM OF UNDERSTANDING

By working collaboratively, the Participants and Coordinating Agencies expect to utilize each others' services for the mutual benefit of their clients and to promote the economic growth of both Canada and the HKSAR. The Participants will identify objectives, targeted activities and measurable outcomes in an Action Plan that they will develop on an annual basis for the duration of the MOU.

4. INVESTMENT COOPERATION ACTIVITIES

The Participants 'will engage in investment promotion activities, including:

1. support incoming company visits in sectors identified in the Action Plan;
2. support ongoing investment projects;
3. Provide investment and industry experts to meet with interested investors;
4. provide industry connections and service providers to interested investors;
5. advise each other and their investment agencies and representatives on publications that introduce their respective investment environment, policies and regulations;
6. exchange information on investment activities and services, where it is available to the Participants with a view to identifying areas of potential collaboration;
7. provide available and relevant information to each other and Coordinating Agencies, as appropriate, on new initiatives that are expected to result in increased participation by their own businesses in the other Participant's market; and
8. with investors consent, notify the other Participant or Coordinating Agencies of new and potential investors from their side, where Participants are aware of investors' interest.

5. REVIEW OF PROGRESS UNDER THE MOU

The Participants and Coordinating Agencies will review application of this MOU and the Action Plan at least once a year and discuss other cooperation enhancements to achieve objectives established in the Action Plan.

6. SCOPE OF BlLATERAL INVESTMENT ATTRACTION IN KEY SECTORS

The Participants recognize that each side has its own unique priority sectors which will be identified in the Action Plan. The Participants and Coordinating Agencies "will jointly discuss measures for enhanced bilateral investment promotion, where possible, in these sectors.

7. 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.

8. LEGAL EFFECT

This MOU sets out the intention and understanding of the Participants for collaborative work in the area of investment promotion and is not intended to create any legal obligations at domestic or international law between the Participants, between the Coordinating Agencies, or between the Participants and the Coordinating Agencies.

9. FINAL PROVISIONS

1. This MOU will come into effect upon signature and will remain in effect for a period of five years.
2. This MOU may be renewed and/or amended with the written consent of the Participants.
3. Either Participant may terminate this MOU upon six months' written notice.

SIGNED in duplicate at the Hong Kong Special Administrative Region this 11^th day of January, 2008, in the English, French and Chinese Languages, each version being equally valid.

Publications

• Hong Kong Investment Agreement (PDF)