Mr. Chair, if I may, it might be helpful to give a bit of context on the Indo-Pacific strategy as a whole and how Operation Horizon fits into that.
In 2022, the government launched the Indo-Pacific strategy, which is basically $2.3 billion over five years that looks at engaging in the region to bolster and diversify our trade as well as enhance our security. It has five interconnected strategic objectives for promoting peace, which is what DND does through Operation Horizon: expanding trade, investing, connecting people, building a sustainable and green future, and making sure that Canada is active.
Why are we engaging in the Indo-Pacific? Frankly, the region is the fastest-growing economic region in the world and accounts for almost two-thirds of global growth. By 2030, it will be home to two-thirds of the global middle class, and by 2040, the region will account for more than half of the global economy.
Our Indo-Pacific strategy seeks to advance and defend Canada's interests by supporting a more secure, prosperous, inclusive and sustainable region, while at the same time protecting Canada's national and economic security at home. One big element of the strategy is building and diversifying our partnerships, and since the launch of the strategy, we've reinforced those with Australia, Japan, South Korea and the Philippines, as examples.