The problem with bilateral information exchange agreements is that you have to know a lot of information first before you can ask for information. Because of secrecy, it just doesn't allow the Canadian government to get very far, in a practical way, with these bilateral information exchange agreements. The automatic information exchange, I think primarily through regulations of financial institutions...rather than putting the burden on individuals, like FATCA does.
So the principle, yes, but some of the details of FATCA are problematic.