Thank you for that clarification, Mr. Chairman.
Welcome, Ambassador. It's a real pleasure to have you at committee. Thank you for bringing your chief trade negotiator with you today. He's given a very impressive discourse here, so much so that even when we went over time with the NDP, I wasn't about to interject.
There are a couple of questions on this. In my part of the world in Nova Scotia, we've been trade partners with Panama for over a century—from the schooner trade that went into Panama and the rest of Central America, to the Bank of Nova Scotia, which has been a long-time banking presence in Panama.
What you said about the non-double taxation agreement, I appreciate. At the same time, we're still looking forward to a tax information exchange agreement. That is still something that Canada is interested in and would expect to be able to put to bed.
Your information on procurement, $15 billion over five years, I think is enlightening to most of the committee. We expected a lot to come out of the doubling of the Panama Canal.
You said on budget and on time. Did you say the timeframe was the end of 2014?