Thank you, Mr. Chairman.
With Budget 2007, Canada adopted a global commerce strategy that is designed to help our businesses be more competitive in today’s global economy. This includes increasing our commercial presence abroad, securing competitive terms of access to global markets, and increasing foreign direct investment in Canada and abroad.
An aggressive trade policy agenda, including our negotiations with the European Union, is part of the global commerce strategy. The reality is that we still face a number of barriers in international markets. That is why our strategy recognizes the importance of continuing to push for free trade through the World Trade Organization, or OMC, and puts a strong emphasis on an unprecedented series of regional and bilateral trade negotiations as well.
Trade is an essential contributor to Canada's prosperity, productivity and growth.
The WTO is the best forum in which to built a more open, rules-based and equitable world trading system.
FTAs are effective tools to improve access to foreign markets and to level the playing field with competitors.
FTAs are also a key element in our response to the global economic crisis. They support economic growth while sending a strong signal against protectionism.
We have made good progress over the last year, including implementing agreements with EFTA and Peru. Legislation has been tabled recently with respect to Colombia and Jordan. Colombia passed into the Senate this week, and in mid-May we signed and tabled the FTA with Panama for review by the House of Commons. We have been active with Ukraine and are having a first round of negotiations in Kiev in mid-May.
Our existing North American Free Trade Agreement remains a key plank of our competitiveness. It allows businesses in all three countries to better realize their potential by operating in a larger and more integrated market, and we continue to work with our North American partners to improve the free movement of goods, services, and capital in North America.
In regard to investment, under the global commerce strategy the government has committed to an aggressive negotiating agenda for increasing the number of Canada's bilateral foreign investment promotion and protection agreements, FIPAs, and investment chapters in FTAs. To date Canada has made significant progress towards this goal, with 12 investment agreements, either as FIPAs or as investment chapters in FTAs, having been concluded since the implementation of the GCS, although some of these must still be signed and ratified.
Foreign investment links Canadian companies to global value chains and new economic opportunities, thereby enhancing their competitiveness and increasing the flow of goods and services between Canada and our trading partners. There are currently 23 FIPAs and three investment chapters in force, and we have an active program of ongoing FIPA negotiations.
Finally, on air negotiations, in 2006 a new international air transportation policy, called the blue sky policy, was announced by the government to help further connect Canadians to each other and to the world. Since January 2006, the Government of Canada has negotiated open, new, or expanded air service agreements with a total of 51 countries, including a comprehensive air transport agreement between Canada and the European Union’s 27 member states.
With that, Mr. Chairman, I will stop and turn the floor back to you.