At the G20 in London, in 2009, the issue of tax havens was considered to be extremely important. Therefore, it was decided that a series of measures would be adopted based, among other things, on information exchange are interrelated issues.
We should see those measures as a first step the international community is taking to deal with the issue. They show that the economic crisis, income difficulties experienced by governments in times of financial restraint and tax havens are interrelated issues.
So, what does Canada do? Instead of taking things even further and promoting reforms that would help us eliminate all tax evasion, our country is trying to sign an agreement with a tax haven. Yes, it's true that, currently, it's very easy to avoid taxes through Panama. This agreement could not only facilitate tax evasion, but also send the message that Canada seems to care so little about the tax haven issue that it would go ahead and conclude a free-trade agreement with one of the worst tax havens.
I think that the losses we could incur as a result of this agreement greatly exceed the benefits that could no doubt result from certain economic ties with Panama.