Mr. Speaker, I have the honour to present, in both official languages, the report of the Canadian delegation to the 37th annual meeting of the Canada-U.S. Interparliamentary Group. The meeting was held in Alaska from May 10 to May 13.
The Canada-U.S. relationship is the most significant in the world. Daily two-way trade exceeds $1 billion and makes the Canada-U.S. trade relationship the largest in the world. Eighty-two per cent of all Canadian merchandise exports go south of the border and into the United States. The trade in goods and services between the two countries supports more than 1.5 million jobs in Canada and directly generates 25 per cent of Canada's GDP.
Even with our strong and friendly relationship, there are still some irritants between our two countries. The Pacific salmon agreement, the Helms-Burton legislation, the split run magazines are just a few examples of where we differ in opinion and approach. Nevertheless, our annual meetings go a long way in helping both sides understand each other's point of view and may therefore lead to mutually acceptable resolutions.
The 37th annual meeting was held with 55 delegates from the U.S. Congress and the Parliament of Canada. Twelve per cent of the U.S. Senate was represented at the meeting. However, we cannot take our relationship for granted. We must continue to build on our successes and strive to resolve our differences.