Well, Canada-EU needs to be concluded as soon as we can. Equally important to Canada-EU is Korea. I think a lot of you have been meeting with the CAFTA crew over the last week and the last few months.
Korea is a $1 billion market for us, and we stopped negotiating in 2008. In that space of time, the U.S. and the EU have signed free trade deals with Korea. The U.S.'s is probably going to be implemented sometime this year. We stand poised to lose that $1 billion market, and we cannot afford to do that. As we're trying to open up other markets in the Asia-Pacific, there's a cruel irony if we in fact lose a $1 billion market in South Korea. In fact, if we get an FTA with South Korea, we could probably grow our exports from that $1 billion to well over $1.5 billion.
Korea could be a huge success story for us. They import 70% of their food. We are one of their top suppliers across the board in every major product that Canada exports—pork, wheat, canola, and beef. We just spent all of this time trying to open up Korea to our beef exports, and that could be, as you heard from Steve, $30 million for us by 2015. We are about to shut down that whole opportunity if we don't move forward with Korea. So that would be equally important.
I would say the next has to be the trans-Pacific partnership and Japan, because if we don't get into that, we're going to be blocked out of that market. You can see there's a theme here. We're starting to play catch-up on these free trade deals. With Canada-EU, we're ahead of the game, but with Korea, with some of the trans-Pacific partnership countries, we have fallen behind our competitors and we've got to catch up with them.
