Touching on the NAFTA experience, I would argue that it's been overwhelmingly positive.
When you negotiate trade agreements, it's not always going to work out perfectly in every single sector. Also, times will change. Economic circumstances will change. When we negotiated NAFTA, we didn't think we'd have a massive pine beetle infestation in the forests of British Columbia, as an example. Sometimes agreements are negotiated and concluded in such a way that they're very difficult to open up and refine as time moves on. What was a cutting-edge agreement in 1993 isn't quite so cutting-edge anymore.
With regard to the agreement between Canada and the European Union, we would argue that it probably needs to have a bit more of a degree of flexibility. That's why we push for things like a negative approach to services. It's very difficult not only to bring.... It's more inclusive; let's put it that way. It also recognizes that there will be services 20 years from now that don't currently exist. If we have a positive list approach, we're going to have to be constantly going back, renegotiating, and reapproving all of these new elements of the economy.
With regard to the dispute resolution mechanism, I understand what's being considered is an investor-state provision. We're broadly supportive of that approach. We don't have any issues with that between Canada and the EU.
While it is true that the European Union has 27 member states, it's not quite as disjointed as people make it out to be. It actually has fairly clear rules and procedures for governing how it conducts its activities, both internally and internationally. In fact, they're generally very clear and very streamlined.
We see no reason that this agreement won't benefit Canadian investors in the European Union. If they feel their rights or their commercial activities are being compromised, they will have a robust mechanism to challenge that. It's something that they don't have right now, which causes problems at times for Canadian companies. We've had examples, notably in the mining sector in some of the new member states, in which they've basically been hung out to dry. If they had had an investor-state provision, it would have been a much different situation for them.