Thursday, January 10, 2008

Canada Agrees to Begin Talks on Investment Deal With Mongolia

By Theophilos Argitis

Jan. 9 (Bloomberg) -- Canada said it agreed to start talks with Mongolia on an investment agreement, as the North American country tries to boost trade ties in Asia.

Canada is the second-largest investor in Mongolia, with about C$400 million ($397 million) worth of assets in the country, the Canadian trade ministry said in an e-mailed statement. The so-called Foreign Investment Promotion and Protection Agreement would give investors from either country ``legally binding rights'' in the other.

``Our desire to put in place an investment agreement with Mongolia is a clear expression of Canada's commitment to building a strong long-term partnership,'' Trade Minister David Emerson said in the statement.

Emerson, 62, was in Mongolia today as part of a five-day tour of the region including stops in China and Hong Kong.

To contact the reporter on this story: Theophilos Argitis in Ottawa at .

Last Updated: January 9, 2008 13:26 EST


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