Thank you. I don't disagree with my colleague; I would just add a couple of things.
First, I'm cautious about discounting the United States as a destination for our trade. It may have its problems of late, but it's still home to the most globalized and most dynamic companies in the world. Often the Canadian value may be going somewhere into a U.S. company's supply chain, and it ends up being exported from the United States into a global supply chain. In that sense, we are still globalizing, but through what looks like U.S. trade, so I'd caution against being anti-U.S. trade. That will be a very important platform for us forever, I'm sure.
Second, I think advertising is important. Most of the small companies I run into are very aware that there are big opportunities in places like India. What they perceive as barriers to going there could be that they think they don't know enough about whom they should see or how much it would cost to go there. Our role is to take as many barriers out of the way as we can.
EDC focuses on two. One is the risk that you may face, the risk that you may lose out or get in with the wrong people. The second is the capital needs. We're in a position to work with their banks so that they can grow their international business and put more EDC capacity on the table.
Five years ago I could go to India and have dinner with all 60 Canadian companies operating there. Today you would need to rent a really big facility, because there are over 300 Canadian companies with operations in India. There are five times as many as there were five years ago. The vast majority of that increase is made up of small or medium-sized companies. There are a lot of great case studies in there.
So it is happening. It just doesn't look like a huge number when the trade is done, because they're small companies. It's not billions; it's measured in much smaller numbers. It is happening very nicely, and it's because the tools are there and companies are gradually taking them up.