Thank you, Mr. Chair.
I want to pick up on your opening comments regarding Canada as a trading nation in the global marketplace. Certainly our economy is heavily dependent on exporting Canadian goods and services to others around the world. We're especially dependent on trade with our largest partner, the United States, the consumer of the majority of Canadian goods and services. The benefits generated by strong international trade for the Canadian economy and individuals are clear to most, accounting for the majority of Canada's annual GDP and supporting millions of jobs. More trade means more businesses are able to hire more workers and increase wages and salaries, helping to improve the standard of living of Canadians.
In these recent years of economic turmoil in the United States, many Canadians have realized the need for Canada to diversify its trading relationships to other countries and markets. I know that our government, led by our Minister of International Trade, Ed Fast, has been quite active on that front recently. I also know that you personally have led many delegations around the world to build and increase Canadian ties with other markets. Your recent visits to China have been recognized as quite successful in opening doors to Canadian business and financial services.
I also want to note in regard to British Columbia that a recent report indicates that our trade in softwood lumber has gone up significantly and that Asia is now our biggest trading partner. Exports to Taiwan, South Korea, China, and Japan have increased quite dramatically, resulting in a $2 billion increase from the prior year. In British Columbia the softwood lumber industry is seeing significant results. In my riding, a local person sent his first crate off to China, so we are really delighted to see that partnership starting to work.
I'd like you to talk a little more about what we've been doing to diversify our trading relationships in recent years and why that's so important.