Yes.
Evidence of meeting #16 for International Trade in the 41st Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was tpp.
Evidence of meeting #16 for International Trade in the 41st Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was tpp.
5 p.m.
President and Chief Executive Officer, British Columbia Chamber of Commerce
As I said, we're an exporting economy, and we export resources. We also import a great deal through some of the ports and other places, so it—
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
I'm assuming on the import side the consumer will benefit from lower costs.
5:05 p.m.
President and Chief Executive Officer, British Columbia Chamber of Commerce
Yes, but so can business.
I think it's an issue around certainty as much as anything. I really believe that when you have trade agreements like this that start to remove the tariffs, that remove what are in effect obstacles to trade, physical or perhaps mental, and that encourage people to engage in this kind of business, then the results will start to show.
I think the reality is that right now there's nothing to really encourage B.C.'s business community to engage in Asia beyond the resource sector. Here at home, the small business sector supports the operations of those businesses. We have a very active technology sector, but largely speaking, its customers are the resource sector.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
So I think the response from the chamber should be not whether you support it, but let's get moving. I think that's what your message should be: let's get moving and let's get this deal done. Right?
5:05 p.m.
President and Chief Executive Officer, British Columbia Chamber of Commerce
That would be our message today, for sure.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
Yes—because the government will not ratify the Canada-Europe free trade deal for another two years. The TPP has been in negotiations for nine years without Canada, and the last two years with Canada, so I don't see it happening in....
If we can push them, let's do it.
5:05 p.m.
President and Chief Executive Officer, British Columbia Chamber of Commerce
I think the EU agreement is a precursor to a good Asian agreement.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
Well, we hope.
I see from your brief here, Mr. Silvester, that even without any additional business coming from free trade, your volumes have been increasing.
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
Yes, absolutely.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
How much can you handle? Are you going to require extra investment? Will you have to expand?
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
We have a huge investment program on the way that's been supported very strongly by the government, and in fact has had previous support from Liberal governments as well.
5:05 p.m.
Liberal
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
Yes, it's the Pacific gateway strategy. It's been extremely successful. Under the current government, there's been $750 million invested in connecting corridors alone. That in turn has resulted in or stimulated more private sector investment, probably to the tune of more than $1 billion overall in terminal infrastructure investment, whether in coal export or grain export or similar.
As we look forward, we see the opportunity for continued growth, potentially accelerated by trade agreements. We have most of the tools we need to ensure that capacity is in place. There are one or two areas in which we will be looking to the building Canada fund, needless to say, to supplement the good work that's been done, but we are in a very strong position.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
Good. Okay. My time is limited, and I want to get one more question in.
In your brief, you seem to indicate that you will benefit from the CETA.
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
We would expect to.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
From your perspective, how does that happen? The port of Vancouver will benefit from CETA, where you're on the other side—
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
We sat down and looked at it, and we were similarly, if I'm honest, somewhat surprised.
If you look at the top 10 countries with whom we have export trading relationships, the U.K. slips in at number 10, with a total of nearly two million tonnes of product, primarily wood chips but also metallurgical coal, lumber, and wood-related products.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
Explain to me how the port of Vancouver benefits from that.
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
The cargo is exported through the port. We have services that connect us directly via the Panama Canal and with Europe.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
Oh, so you're [Inaudible—Editor] and it's not cheaper to send it by rail across the country.
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
It would vary on a case-by-case basis, but the cargo I am quoting is exported through the port.
5:05 p.m.
Liberal
Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC
Interesting. Thanks.
I guess we're going to see you guys tomorrow.
5:05 p.m.
President and Chief Executive Officer, Port Metro Vancouver
You should indeed. We look forward to hosting you.
5:05 p.m.
Conservative
The Chair Conservative Rob Merrifield
Thank you very much. We look forward to the tour tomorrow. I was going to close with that, but since you brought it up now, I'll mention it.
Mr. Cannan, the floor is yours for seven minutes.