A mega-regional, that's the new term that's come up now. CETA, of course, is the first mega-regional, and the most prominent one. The next big one coming up is the TTIP, of course, between the EU and U.S.
My point is that we don't go into free trade agreements, I think, for the sake of negotiating. There are lots of things that governments need to focus on. Free trade agreements are a tool for improving economic welfare for Canadians and for the welfare of the region.
From a strategic perspective, we want to do a number of things. One is to improve the efficiency of the economic system as a whole, and trade liberalization, I believe, does that. So there's value in liberalizing trade through multilaterals, mega-regionals, preferential bilateral agreements, and so on and so forth. However, from a competitive perspective, we only really benefit if we get a preferential agreement with a partner that others don't have an agreement with, right? Then we have a margin of preference to sell into their market.