If we're looking for greater transportation links, I think the solution is a very simple one: we just give them the landing rights. These are negotiated government to government. Of course, the only one that I'm personally familiar with is in the UAE. That currently offers six flights a week, on either side. We have not picked it up on the Canadian side, and certainly I think there is a market opportunity. I know that Air Canada was developing their Indian market instead of focusing on their market into the gulf, into Dubai and Abu Dhabi, but now they've decided not to pursue that any further.
So it's an open door. I know that Qatar is looking for an air agreement, Kuwait is looking for an air agreement. If you can put your freight in the bottom of a freighter going back and forth and get your goods and services there in a day instead of routing it through somewhere else, it makes a difference. And there's an enormous amount of business.
Ironically, and this probably isn't well known, one of the big cargo items on the Etihad flight from Toronto to Brussels to Abu Dhabi is diamonds. All of those diamonds were passing through Heathrow with an enormous insurance cost, and now they have a much more direct route to get there. I think there are trade negotiations going on between Canada and Kuwait right now. Royal Jordanian, of course, has regular flights as well. It's 100% a policy issue.
If you'll permit me, Mr. Chairman, I'll just add a quick word about the GCC as a group. This emerging group is of enormous significance I think to the global economy. By 2010 they will have a common currency. Inside one common trading bloc will be 50% of the oil reserves. It's an open question as to how they will denominate the currency. If they decide to not denominate it in U.S. dollars, which is what most of the member states have, but rather a basket of currency, such as the euro and maybe even an Asian currency such as the yen, we're going to have a profound shift in the world economy.
So this is going to be an extremely significant economic bloc. To my mind, that's just one more reason to be inside the tent and to have these economic agreements and relationships with an emerging force of very significant economic significance.