Mr. Speaker, this morning President Frei of Chile and our Prime Minister signed a protocol on a free trade agreement that will bring about tremendous new momentum in terms of trade and investment between our two countries. That will lead to jobs and economic growth for both Chile and Canada.
Immediately, Canadian exporters will no longer face an 11 per cent duty when their goods and services go over the border. This will give them a considerable cost advantage. More secure investment can now be obtained in Chile for Canadians.
All of this will be in advance of when Chile comes into the NAFTA, giving Canada a head start on our friends in the United States who hopefully will now come to the table to bring Chile into the NAFTA and complete the arrangement the Prime Minister was a part of just four years ago. This will lead to hemispheric free trade and again, more jobs and economic productivity.