Mr. Peter Julian (Burnabyâ€”New Westminster, NDP): Mr. Speaker, there are still no answers. The Prime Minister's improvised press conference last Friday demonstrated how the Conservatives are mismanaging foreign investment.
The CNOOC takeover approval, coupled with the Canada-China FIPA is a dangerous mixture. CNOOC will have unprecedented rights in Canada, and now it is entitled to national treatment, meaning it has carte blanche to expand in Canada, including buying up oil sands leases.
Why is the government trying to cover up the real impact of the Canada-China FIPA? Why is it giving CNOOC special and expanding access to the oil sands?
Hon. Christian Paradis (Minister of Industry and Minister of State (Agriculture), CPC): Mr. Speaker, that is not true. Once again, the NDP, with its philosophy about blocking everything, is trying to mix up the people here.
Regardless of any bilateral agreements that we have, each single investor who intends to invest in Canada has to be compliant with the Investment Canada Act. It is as simple as that.
Mr. Peter Julian (Burnabyâ€”New Westminster, NDP): Mr. Speaker, the minister seems to have problems explaining this. Perhaps the Prime Minister could give it another try. He failed yesterday.
The doublespeak does not change the fact that the botched $15 billion Nexen decision is more clear evidence of Conservative mismanagement.
In fact, Conservative sources are saying that the government sold out on the Canada-China FIPA. Now it has given a blank cheque to CNOOC. Most Canadians and even many Conservatives do not agree with the government on CNOOC.
Why is the government being so incompetent and so irresponsible?
Hon. Christian Paradis (Minister of Industry and Minister of State (Agriculture), CPC): Mr. Speaker, that is not true. On the contrary, investors who intend to invest in this country have to comply with the Investment Canada Act. It is as simple as that.
Once again the NDP is trying to mix up everything because it has a â€œblocking everythingâ€� agenda in terms of investments.
We have a balanced approach that is strong and solid. We have clarified the guidelines, but once again the NDP does not seem to understand. Fortunately, the markets and Canadians get it.