In general, our association partners with the Italian Chamber of Commerce to make sure there is a better connection between Canadian-Italian businesses and businesses that want to come over from Italy, as well as businesses that want to entertain the idea of selling into Italy.
We know that, with NAFTA being a little shaky right now, the Canada-European Union free trade agreement provides a phenomenal opportunity. I think Canadian businesses have relied on the relationship with the United States far too long, and now really need to think a little about the pivot to Europe. As the gentleman mentioned before about procurement, one of the key differences between CETA and NAFTA is the ability to sell not only to the federal jurisdictions, but also to the provincial, state, and city jurisdictions.
We did an analysis of what that opportunity means. It means that in Canada the spend in the next 10 years is something like $200 billion. If it were just the ability for Europeans to trade with the Canadian federal government, it would probably be around 15%, just restricted to the federal government. However, because the agreement was expanded to include the provinces, municipalities, and cities—as well as, in Europe, a broader range than just the federal government—the opportunity for infrastructure projects is phenomenal on both sides.
I think that Canadians have a great opportunity and need to really think about what they can do in Italy, as well as all of Europe, with regard to this opportunity.