Canada and Panama now have certain commitments to one another with respect to trade and services via the WTO. Through this agreement we basically built on those commitments and liberalized trade a little bit more in those areas. In particular we negotiated both national treatment and most-favoured-nation treatment provisions that basically say that both countries will treat services imported from the other country in a non-discriminatory manner vis-à-vis national service providers or other foreign providers.
We've also agreed to take our current level of liberalization in the services area, both in Canada and in Panama, and we have a standstill provision that prevents either country from increasing its restrictions on trade and services. Also, we have an MFN ratchet provision going forward so that if, for example, Panama liberalizes its services regulations in the future further to, for example, an FTA negotiation with another country, Canada will benefit from that liberalization. In other words, we can only make our services regime more liberal as we move forward.
Panama also made commitments bilaterally to us in some new areas that they hadn't covered with respect to the WTO, including those with respect to mining and energy-related services, professional services like engineering and architecture, environmental services—in which Canadian companies can be quite competitive—distribution, and information technology. That's a quick picture of the services.