On the tax exchange information, I would just note that Switzerland has just signed an agreement. That's something that's been in the works probably for as long as the one with Panama, so I think globally we're starting to see movement on this issue. Countries that were intransigent in the past are beginning to change.
There is movement because of problems, especially in this hemisphere. You mentioned drugs. It's a hemispheric problem. You can start at Tierra del Fuego and work your way up. Canada is becoming a site for precursory drugs and for increased production in methamphetamines and synthetic drugs.
The drug issue and the issue of money that goes with it is hemispheric. It touches pretty much every country in this hemisphere, certainly the United States, Mexico, the Caribbean, Central America, and South America. I would not single out Panama in this regard.
Second, in terms of trade and how we do in trade—I'll get back to that question—it's very interesting. If you look at where we signed free trade agreements, you're looking only at trade in goods. If you look at services and foreign direct investment, the numbers for FDI stock, Canada does quite well. While we may lose some on the goods side, we tend to make it up on the services side and certainly with investments. These are harder to quantify and these are harder to track, but certainly the evidence from FDI stock indicates that we are doing well and making it up on the investment side.
I would urge you to bring in Professor Paul Haslam from the University of Ottawa and some others who have looked at this issue and can talk more about it.
We also do a good job in terms of promoting exports from these countries. Trade Facilitation Office Canada...this is something the Americans would never do: encourage small, medium, and non-traditional exporters, women's cooperatives, others, to take advantage of the agreements and export to Canada.
If you really believe in free trade, you believe in the Ricardian equivalence, about efficiencies being generated and efficiencies being good for both countries. We take that a step further in Canada and we do things to actually promote trade instead of aid. Trade is a supplement to aid.
I think we should really be proud of this. The question is, either you believe in trade or you don't. I think we've done a really good job of making it work.