Thank you very much, Mr. Chair. I want to say thank you for giving us the privilege of participating in the committee discussion today.
I also want to acknowledge that I am participating virtually from the traditional territories of the Musqueam, Squamish and Tsleil-Waututh peoples, and I extend my thanks to them.
These are extraordinary times for Canada, which have been discussed at length in the trade press. Trade rules have been upended, and Canadians are feeling anxious. I think I speak on behalf of all Canadians when I say thank you to the committee for your work, and thank you to government for rising to the occasion with a bold agenda to double Canadian exports to non-U.S. markets over the next 10 years. It's going to take a team Canada approach to make more stuff like metals and minerals, wood and energy products, agri-foods, machinery and equipment; to sell more stuff to customers who want and need what Canada makes, especially in the Indo-Pacific region, where 50% of global GDP will reside by 2040; and, importantly, to move more stuff via port authorities to where it needs to go reliably.
The good news is that the Port of Vancouver, Canada's largest port, is right at the nexus of this activity. Today, we handle 350 billion dollars' worth of Canada's trade every year, whether it's retail products from Ontario, Manitoba canola, Saskatchewan potash, Alberta oil, B.C. lumber or other products. You name it; there is a good chance we move it, and 80% of those products are already headed to non-U.S. markets.
Decades of investment—about 9 billion dollars' worth—has occurred in this corridor over the last 15 years or so. This has resulted in about a 75% increase in trade volume through the port of Vancouver to international markets. Interestingly, doubling that is about another 50% in the next 10 years.
The point is that we've done this before, and we can do it again. We need to fully unleash the power of Canada's ports as an engine of Canada's trade diversification strategy, and we're pleased to see this committee advancing a study of Canada's ports to inform and galvanize policy choices to help deliver the Government of Canada's bold trade agenda. We see, as do my colleagues from Prince Rupert, three big opportunities for Canada's ports.
First, we need to make permitting more efficient. As a country, we need to get nation-building, trade-enabling infrastructure projects across the finish line, such as our Roberts Bank Terminal 2 project, which will build new industrial land and expand container trade capacity by $100 billion each year. Dredging at Second Narrows in Burnaby, B.C., will let tankers leave from the Trans Mountain Westridge terminal, passing under the bridge at full capacity instead of 70%, as is the case today.
New levers, including through the Major Projects Office, will help. However, broader regulatory modernization, including permitting, is the biggest opportunity. In an ideal world, the MPO will lead us to make systemic changes to our regulatory frameworks, such as by expanding port authorities' permitting powers.
In Vancouver, for example, in recent years, we've permitted substantive projects, such as the Centerm expansion project and G3's new grain terminal. Each of those projects is worth about half a billion dollars.
We run through environmental assessment processes, including robust consultation with first nations, and critically, we deliver timely decisions—91% within our targets—which is pivotal to attracting investment. I say, empower port authorities to do more for Canada on permitting. We have the experience, the skills and the track record.
Second, we need to invest in port and rail infrastructure, including supporting roads, bridges and tunnels. Canada's export growth opportunities centre on the bulk sector—grain, potash, steel-making coal—and this hinges on rail capacity and reliability.
Over the past 15 years, as I mentioned, the Canadian government has helped invest in two major waves of rail-supporting infrastructure in this gateway, through the Asia-Pacific gateway and corridor and the national trade corridors fund. To double exports, we need to do more in this space.
We need to prioritize supply chain infrastructure investments and other capacity-building initiatives, including last mile infrastructure. We look forward to the government's swift launch of the new $5-billion trade diversification corridors fund, announced in budget 2025, and hope that projects supporting Canada's largest international trade gateway will be seriously considered for funding support.
It's not just about adding capacity; it's about making networks more efficient. We must work together to keep adopting new digital tools and tech to help supply chain partners optimize and share data to move products faster, more safely and more sustainably. We have had tremendous success with some of these initiatives, such as our active vessel traffic management program in Vancouver.
Third, we must address labour stability. Frequent labour disruptions are a blemish on our reputation as a trading partner. Acting on the recommendations of the Industrial Inquiry Commission on West Coast Ports is a must, and we need to act swiftly. Our global customers are watching. Performance is key.
Lastly, it goes without saying that to be successful, we must be bold, ambitious and nimble. Equally importantly, we must renew our commitment to doing things right to minimize environmental impacts and work closely with indigenous communities. On this, Canada is a leader, and the Port of Vancouver is a leader, having secured the consent of 27 nations to build the Roberts Bank Terminal 2 project, to name one example. Let's keep making how we do things our competitive advantage in this country.
In closing, I know Canada is ready to get to work, and so are we at the Port of Vancouver. Let's go. Let's fully unleash the power of our nation's ports. Let's show the world we're open for business and deliver for Canadians.
Thank you.