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Madagascar: Canada wants to expand investment in the island




The Minister of international trade of Canada, Ed Fast, signed last Saturday in the Ministry of Foreign Affairs of Anosy an economic agreement between the Government of Montreal and the Malagasy authorities around the promotion of new investors and the protection of investments across the Atlantic in the island.
 
The final agreement between Madagascar and Canada should be finalised in September.
 
Mining and the Ambatovy project *, which Canada is involved, are the first sector of investment of Canadian companies who also wish to deploy on other lands from prospecting, according to newspaper L'Express of Madagascar.
 
“Canada does not wish to limit its interventions in mines. There are other sectors such as education, agriculture and livestock, and also the infrastructure in which partnerships could be forged. Canadian companies have already expressed their interest for Madagascar which, today, is among the 12 priority countries in Africa for investment", said the Canadian Minister of international trade, Ed Fast.
 
"The two Governments have negotiated this agreement on the promotion and protection of foreign investment. The next step which will, inter alia, to carry out legal examination of the text of the agreement to ensure the high quality of the document, its clarity and accuracy, will be a message strong passed to Canadian operators", has put forward on his side, Rolland Jules Etienne, Minister of industry, development of the private sector in the island.
 
As a reminder, the volume of investment of Canadian companies in Madagascar is currently estimated between 8 and 9 billion dollars, as recalled by the Canadian Minister of international trade, Ed Fast.
 
* Nickel and cobalt mining project
 



Antso Rajaona


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