Thanks for that question. Yes, there's a lot of potential not only in investment, but we talk about goods trade and services as well.
When it comes to goods, as I mentioned briefly in response to Mr. Allison's question about very high applied tariffs, we've been consulting with stakeholders, and some of the responses we've received relate to high tariffs.
Just by way of comparison, because I think numbers always help tell the story, some of the applied tariffs in those four countries average between 9.8% and 13.7%. If you compare that to Canada, which has a 4% tariff, you see there's a big difference in the applied tariffs, so when you're looking at just the goods trade, there are huge opportunities. Some areas of particular export interest for Canada where the tariff rates are high—from 10% to 35%, for example—include fish and seafood, which a number of stakeholders talked about, as well as chemicals, plastics, autos, and auto parts. They have very high tariffs in those countries.
There is also machinery and equipment, and forest products. Those are some of the sectors in particular where we would see some gains to be made.
It's beyond goods, as well. Some of the areas in services, for example, where we've heard stakeholders say they have a particular interest include distribution, logistics, transportation, and infrastructure. These are just some that have come back.
The other thing they have to look at is that Mercosur has no FTA. In all of its FTAs to date, they're for goods only. They haven't actually done any services-related commitments in their FTAs outside of the WTO GATS, so it's fresh. There's a lot there to get in on, and it's a huge market. We have strengths in Canada in a lot of service areas, so that would be another place.