Thank you.
I think it comes back to the substantive obligations in the treaty. It is the obligation to provide national treatment once an investment is established, but certainly there's an MFN obligation in establishing an investment. There is an obligation not to expropriate Canadian assets once they're in the market and, if they are expropriated, to pay fair compensation promptly.
There are obligations that prevent restrictions on capital flows once the investment is in the market in China. There are performance requirement disciplines in the agreements. All of these things create a more favourable environment for a Canadian investor to invest in China, all backed up by recourse to international arbitration. That is a significant difference from the standpoint of Canadian investors compared to what they would be facing today.
Coming back to the point that China has something like 100 BITs, or bilateral investment treaties, with other partners, a key point here is that we need to put our own companies on a level playing field in the Chinese market. All of Canada's competitors, or many of them, currently have access to the protections of an investment treaty with China, but at the moment Canadian investors do not. This treaty provides state-of-the-art protections that will put Canadian companies on a level playing field with most of their international competitors, and better preference to those that still do not have an investment treaty, including the United States.