Mr. Speaker, I am pleased to speak today in support of the Canada-Honduras free trade agreement and our government's goal of creating prosperity for all Canadians.
Our government is in the midst of the most ambitious pursuit of new and expanded trade and investment agreements in Canadian history. We will not sit on the sidelines while other countries vigorously pursue trade deals to secure better market access for their products and services. Indeed, the Canada-Honduras free trade agreement is yet another step this government is taking to help Canadians compete and succeed in the global economy.
No government in Canada's history has been more committed to the creation of jobs and prosperity for Canadian businesses, workers and their families. Deepening Canada's trading relationship in dynamic and high-growth markets around the world is key to those efforts.
In 2006, Canada had free trade agreements with only five countries. Since then, Canada has concluded free trade agreements with eight countries: Colombia; Jordan; Peru; the European Free Trade Association member states of Iceland, Liechtenstein, Norway, and Switzerland; Panama; and has signed a trade agreement with Honduras. Last fall, we also announced that an agreement had been reached with the 28-member European Union.
That is not all. We are, of course, intensifying our focus on Asia.
On March 11 of this year, our Prime Minister and President Park of South Korea announced the conclusion of negotiations for a Canada-South Korea free trade agreement. This landmark achievement constitutes Canada's first free trade agreement in Asia.
The Canada-Korea agreement will strengthen economic ties with a key partner in that fast-growing and dynamic region of the world and generate significant benefits, jobs, and opportunities for Canadians. The agreement is projected to boost Canada's gross domestic product by $1.7 billion and increase Canadian merchandise exports to South Korea by about 32%. It will also provide substantially improved access for Canadian businesses to South Korean markets, a key gateway to other markets in Asia.
Canada and South Korea are committed to bringing the Canada-South Korea free trade agreement into force as soon as possible.
It does not end there. Canada is actively pursuing an agreement with 11 other Asia-Pacific countries through the trans-Pacific partnership negotiations, which Canada joined in October 2012. With its current membership, the TPP represents a market of more than 793 million people and a combined gross domestic product of $28.1 trillion.
Canada sees this agreement as a leading mechanism for regional economic integration and a critical tool for positioning Canadian businesses in the fast-growing Asia-Pacific market.
Negotiations are also well under way for major agreements with large dynamic economies, including Japan and India.
A Canada-Japan economic partnership agreement would strengthen access to the world's third largest economy. An agreement could increase Canada's GDP by $3.8 billion and boost exports to Japan by 67%.
Just recently, the Prime Minister announced during his visit to Israel the launch of negotiations to expand and modernize the Canada-Israeli free trade agreement.
This Conservative government continues to update our existing agreements in order to maximize benefits for Canadians.
Let us not forget that 2014 marks the 20th anniversary of the North American Free Trade Agreement. Twenty years ago, trade within the North American region was somewhere around $372 billion. In 2013, the total trilateral merchandise trade reached over $1.1 trillion. That is nearly a fourfold increase.
Canada is now the top export destination for 35 U.S. states. Of course, the U.S. remains by far the top export destination for all provinces. Over eight million U.S. jobs depend on trade and investment within Canada; and over 2.5 million Canadian jobs, that is one in seven, depend on exports to the United States of America.
NAFTA has provided a solid foundation for Canada's future prosperity and is an agreement that Canada continues to build on to advance North American trade and competitiveness.
Deepening Canada's trade relationships in rapidly growing markets around the world, such as Honduras, is an important part of this government's pro-trade plan for jobs, growth, and long-term prosperity. The Canada-Honduras free trade agreement is a key part of our agenda to open new markets for Canadian businesses, create new opportunities for our workers, and contribute to Canada's future prosperity.
Free trade would provide numerous benefits to Canadian companies active or interested in Honduras. Not only would it eliminate the vast majority of Honduran tariffs, but it would also help raise the profile of Canadian businesses in the country, and further deepen and strengthen Canada's commercial and economic relationship with Honduras.
The Canada-Honduras free trade agreement would also make us competitive with players from the United States and the European Union, who already enjoy free trade with Honduras, not to mention giving Canadian companies a secure, predictable framework for business. Keeping pace with Canada's main competitors is just one reason that we need to move forward on this deal.
There are other benefits to the free trade agreement as well, which I would like to reiterate. It would help a variety of Canadian companies in sectors such as chemical products, wood, pulp and paper products, vehicles, auto parts, as well as fish and seafood. It would also be advantageous to Canadian agricultural producers in areas like beef, pork, and processed potato products.
Canada's service providers would enjoy enhanced commitments in export sectors that are of interest to Canada, such as natural resources, professional services, and information and communications technology. Clearly the Canada-Honduras free trade agreement would create new opportunities for Canadian companies in the Honduran market.
Thanks to the actions taken under our government's free trade leadership, Canadian workers, businesses, and exporters now have preferred access and a real competitive edge in more markets around the world than at any other time in our history.