I wouldn't say it's the best day for Canada, but we have been supportive of CETA since it started being negotiated in 2009, the fundamental reason being that it opens up access to millions of consumers for our products and it eliminates import tariffs immediately, significantly higher import tariffs than are available on European wines entering Canada.
The challenge we have is that we own, as you mentioned, only 32% of our domestic market. Of that, 10% is our premium wines. That 10% is what we're looking at for the export market, not the value wines we sell within the domestic market only. When we aren't able to sell our wines across interprovincial borders, that does not allow us to grow our domestic marketplace. When we own only 32% of our market, we have to grow our domestic market, as every other wine-producing country does, to then enter into the export market. We can't turn our back on a domestic market and only export.
To do that, we are looking at measures such as changes to the excise duties to ensure that we're competitive, elimination of interprovincial borders, and introduction of a wine industry innovation program to help us invest in measures that will allow us to become more competitive, grow market share in Canada, and take advantage of the opportunities that these trade agreements have put in place.
We've always said we support trade agreements, but as with other countries, our government has to help us take advantage of what those trade agreements have to offer. If not, Europe owns 50% of this market; they will enter into this market duty-free starting tomorrow and continue to capture more and more market share.
We're looking for support, as is provided to any other wine-producing country, to be able to grow our domestic marketplace and contribute more to the economy.
As I mentioned, what we're proposing in terms of WIIP, the wine industry innovation program, will cost very little for the federal government and contribute $7 billion over five years to the national economy.