I think Japan has some potential. To the extent that they're negotiating trade agreements with other countries in the Asia-Pacific region, they might become more of a platform for companies that want to establish a presence in the region. Traditionally, though, companies have looked more at Singapore and Hong Kong as gateways to all of Asia. The legal system, the tax structure, our agreements, access to infrastructure that can easily serve markets throughout the region—these are all critical elements. To the extent that Japan could replicate that, I think it could serve more as a gateway for Canadian companies that want to access all of Asia. But up till now, people have looked to Hong Kong and Singapore as places to set up operations to serve the region.
On May 8th, 2012. See this statement in context.