Thank you, Madam Chair.
You know, we have been standing with Ukraine since the start of Russia's illegal invasion, and we will stand strong with Ukraine when it is free once again.
This CUFTA legislation—the bill—supports the long-term security, stability and economic development of Ukraine while also ensuring there's high-quality market access to Canadian businesses. This will create good-quality jobs in both Ukraine and Canada.
Last week, we had the Ukrainian ambassador here. I would like to quote her. She said, “We believe that the modernized CUFTA will pave the way for Ukrainian companies and Canadian companies to work together.” She also emphasized a key thing that is important for Canadian businesses. I have another sentence I'd like to quote here. She said, “Ukraine believes partners in victory are partners in rebuilding.” That recognizes the great support Canada has been giving to Ukraine in this current war, and the promise that Canadian businesses will have a vitally important and significant role in rebuilding Ukraine.
Rebuilding Ukraine is a very long-term process. The current cost estimates are over $400 billion. Canadian companies have knowledge and expertise to use for their own benefit and for the benefit of Ukrainians. In fact, Ukraine's rebuilding is the single biggest rebuilding project in Europe since the Second World War. Obviously, all of this rebuilding will be done by the private sector, and Canadian companies can play a very vital role.
I have a question for the Agri-Food Analytics Lab and Sylvain Charlebois. You mentioned a Canada-Ukraine agri-food business council. That's an interesting concept. I think it's the first time I've heard of that. Canada has signed numerous free trade agreements across the world. I think it's with almost 51 countries, accounting for close to 60% of the world's GDP. Not many Canadian sectors make use of these free trade agreements, like the steel and aluminum sectors. Their exports are limited to North America only, with more than 90% of their production used for Canadian and American markets, as well as Mexico. They don't export to Europe or Asia-Pacific.
If there's one sector in Canada that uses every free trade agreement for the growth of that sector, Canadian businesses and the economic prosperity of Canada, it is the Canadian agriculture and agri-food sector. In fact, a small group of farmers have made Canada the fifth-largest exporter in the world of agricultural products, including agri-food.
The concept of a Canada-Ukraine agri-food business council is a very interesting one, not only for Ukraine and Canada. I think it could be refined further. We could have that with different markets. We could have significant co-operation with local markets, local businesses and the Canadian agriculture sector.
I would like to ask you to elaborate on the concept of this agri-food business council.