Thank you for this question.
The Defence Investment Agency will give us the chance to work more closely with Canadian and allied industries to develop faster procurement processes. For example, we'll prioritize the acquisition of equipment already in use. In doing so, we can work with our allies to better understand their requirements. Our clients won't necessarily need to write a document over 1,000 pages long to explain their requirements, because our allies will have already done so. Our principle will be that, if the equipment works well enough for our allies, we'll check whether it works for Canada and whether any modifications or improvements are needed to adapt it to Canada's unique situation.
Basically, without a detailed statement of work, we could save over a year at the start of the procurement process. Normally, it can take a year or more for the client department to clarify its requirements.
Here's another example. The agency will give us the chance to work more closely with the industry and the capital markets to secure a better investment.
We will be financing investment to support Canadian supply chains, as Minister Fuhr mentioned, not only to meet Canadians' needs, but to be able to export.
The agency will work closely with the industry to develop export strategies in line with the defence industrial strategy. This is a new approach. We didn't have much long‑term investment before. Our 5% target sends a message to the industry that we're aiming for long‑term investments, which will attract private sector investment.