Thank you, Mr. Chair. Since we're only having one round, I'll share my time with my colleagues.
I'd like to welcome our guests back again. I was looking through the minutes, and it was April 2 last year, Mr. McArthur. It has almost been another year. It will be your 74th birthday soon. Welcome back. It's an annual return.
As you mentioned, these are ongoing negotiations. It hasn't happened overnight; it's been close to 10 years of negotiations since the agreement was initially discussed. There has been a lot of to and fro, back and forth, and numerous meetings. I know you've partaken in close to a decade of discussions.
I also share your concerns. We have to pay close attention to industry. Our government is very concerned about the future of this industry--and industry across the country. We're trying to look at opportunities to expand our markets.
This is basically the first free trade agreement Canada has entered into since 2002. And Costa Rica wasn't a large agreement. We need to expand outside the United States. We've seen what happens when we concentrate solely on over 80% of our trade with our friends to the south. But we're looking at other opportunities around the world.
As you alluded to, there's significant investment--$43 billion approximately, over 30 years--for the coast guard and the shipbuilding industry. As my colleague Mr. Cardin mentioned, in the budget there's $175 million for the coast guard and for procurement and other initiatives to help our aging vessels. There is a series of initiatives that our government is working on with the shipbuilding industry. I know it's a concern across the country.
Coming from British Columbia, we have the west coast industry as well, which has been able to continue to be competitive in a global competitive marketplace.
I thank you for sharing your insight and words of wisdom on the agreement and negotiators to date.
I'd also like to ask a question to Mr. Pugh.
Thank you very much for spending time with us this morning as well.
Having been raised on the prairies, I want to ask for your perspective on durum and the opportunities for our agricultural community. My colleague Ted Menzies, who used to be the parliamentary secretary, sat on this committee. He was working with the EFTA agreement at the time. He was in Liechtenstein, and he was commenting that there are some opportunities with this agreement--if we can secure the agreement--to open up opportunities for our agriculture community in other European countries.
Do you see that as a positive initiative, Mr. Pugh?