Okay, I'll try to be as brief as possible.
As members of the committee are aware, Port Saint John, also known as the Saint John Port Authority, is located on the Bay of Fundy and the southern coast of New Brunswick. Port Saint John provides a gateway into North America for maritime commerce. It handles bulk, break bulk, and container cargoes. Petroleum products, potash, containers, and cruise provide the mainstay of port business, while other commodities make varying contributions.
In recognition that many of today's consumer and manufactured goods move in containers, we are now focused on significant opportunities being presented with the completion of the Panama Canal expansion and anticipated trade growth for east coast ports. The port is well situated to take advantage of the north-south trade routes, as well as emerging opportunities in Europe and Asia.
We're focused on growth at Port Saint John, growth that includes building capacity at our cargo terminals, strengthening our business, developing collaboration with shipping and rail partners, and working with economic development agencies, such as ACOA, on international trade and foreign direct investment opportunities. We've seen results from this focus. Since 2012, we have had MSC, the world's second-largest container line, calling at Port Saint John on a weekly basis with a service to Freeport, Bahamas, and Caucedo, in Dominican Republic. Both offer transshipment destinations to countries further afield. Last year, CMA CGM, the world's third-largest container line, also began to call on a weekly basis. These two lines offer our importers and exporters competitive options and connections to global markets, but particularly in the north-south corridor.
To support these ambitious growth goals that we have, we needed strong terminal operations partners with a focus on international business development that is aligned with our own. In this regard, a major development took place last year when DP World became the new terminal operator of our WestSide facilities, and they're the fourth-largest operator in the world.
We have a long-standing connection with North America via CN's vast network, and we have recent success in partnership amongst short-line providers into the New England marketplace, expanding our target market and providing alternatives that were not previously cost-effective.
In our international marketing efforts, we have been working closely with ACOA on a north-south bilateral trade development, which includes Mexico, Brazil, and Chile. In fact, I will be travelling to those countries later this month, in conjunction with our cargo development manager, to engage in business meetings over a two-week period, designed to uncover opportunities for increased trade.
Our ongoing work with ACOA complements Canada's focus on trade growth with the Pacific Alliance countries of Chile, Mexico, Peru, and Colombia. Today our trade with these countries is valued at $31.7 billion for Canada, and $182 million of that is specifically Atlantic Canada. On the export side, our Canadian exports are $6 billion in goods to these four Pacific Alliance countries, and of this, nearly $118 million is exported from Atlantic Canada. Clearly, as a country, trade with Chile, Mexico, Peru, and Colombia is significant, and with trade agreements it's bound to grow.
Given our natural geographic advantages on the north-south trade route, our marine infrastructure capacity-building, and the trade and transportation partnerships we have established, we believe there are advantages for Port Saint John in the Pacific Alliance with Chile, Mexico, Peru, and Colombia.
For reasons I've outlined today, at Port Saint John we believe our regional and national economy will benefit from the introduction of reduced tariffs on importation of goods and materials from these countries.
Increasing imports at Port Saint John is a vital part in balancing trade in our container sector. Having more balance allows for increased cost-competitiveness for shippers and receivers at our port. Having greater import volumes at Port Saint John will also allow for better economies of scale for our existing exporters. Improving the balance of trade has been a major component of our north-south trade strategy.
In conclusion, we appreciate the attention of the committee and the invitation to provide comments today. For us, the opportunity for increased trade with the Pacific Alliance is about a brighter and more prosperous future for Port Saint John and our stakeholders through increased trade and competitiveness.
I hope I have been able to provide some information that the committee will find valuable as you carry out your important work. Now I'd be pleased to answer any questions you might have.
