Canada and Kuwait sign deal to boost investments

Canada and Kuwait on Monday signed a trade and investment treaty, during the first visit by a Kuwait prime minister to this country. The Foreign Investment Promotion and Protection Agreement sets out rules to ensure that foreign investors receive similar treatment to domestic investors.
It also guarantees that companies will not have their investments expropriated without prompt and adequate compensation and that they will not be subject to treatment lower than the minimum standard established in customary international law. It must still be ratified by both Canada and Kuwait. "This agreement will encourage two-way trade and investment by providing greater predictability and certainty for investors in both countries," Prime Minister Stephen Harper said in a statement. He said Kuwait offers "significant investment potential" for Canadians, particularly in manufacturing and infrastructure.