Mr. Speaker, the former U.S. negotiator Carla Hill said last week that the North American free trade agreement should be expanded to include other Latin American countries such as Chile.
We agree. Protectionist walls around the globe must fall. Protectionist self-interest can be best served by the tremendous benefit that trade can generate.
The new GATT agreement will stimulate global trade by an additional $755 billion U.S. over the next eight years. The global net income will increase by an additional $500 billion by the year 2005.
For every $1 billion in trade at least 10,000 Canadian jobs are created. United we stand.
Congratulations to both sides of the House for endorsing Canada's commitment to implement the World Trade Organization legislation. We expect our major trading partners to fulfil their commitment in time for January 1, 1995.