Mr. Speaker, I am proud to stand in the House today, both as an MP for North Vancouver and as the chair of the B.C. caucus for the Liberal members in British Columbia, to speak to Bill C-38 and offer our support and my support.
This important legislation may have found its inspiration in western Canada but there is little doubt that strengthening Canada's position in the competitive world of international commerce will benefit our entire country. Today I want to outline some of those benefits.
However, before we start with economic benefits, it is important to note that the Pacific gateway strategy is about positioning Canada in the rapidly evolving world of international commerce, but it is more than that. It is also about more than doing business.
The Pacific gateway strategy recognizes that not only products will be passing through this Canadian gateway. The gateway will also welcome the multitudes who travel to Canada each year. To put it in context, last year Canada welcomed more than 87,000 Chinese tourists, generating some $150 million in revenue for our tourism sector. Many begin their visit in western Canada and then travel onwards throughout this great country. With new liberalized air agreements in place, it is expected that this number could triple to over 260,000 visitors in the future from China alone. Other Asian countries are also sending many visitors our way.
Canada shows the world its commitment to diversity not only in how we embrace all cultures but in how we engage and trade with all markets, ones that are both established and emerging, such as those in China, India and other Asian countries. Trade and prosperities hinge on the rapid, seamless and secure movement of people and goods. Canada is uniquely placed and our people are exceptionally skilled to provide a gateway to serve those needs in the Pacific markets.
Many have already begun to see the advantages. For example, China is currently Canada's fourth largest export market. Our exports to China have grown more than 90% between 1995 and 2004, and during the same period, Canada's imports from China grew more than 400%, making it Canada's second largest supplier. China's recent dramatic growth is expected to continue. While it is currently the world's sixth largest economy, forecasters say that it will be the second largest by 2020 and the largest by 2041.
As a result of this growth, the B.C. government predicts that by 2020, container cargo coming through British Columbia ports will increase by up to 300%, from 1.8 million containers to between five million and seven million containers. The value of this trade is projected to reach $75 billion by 2020, up from the $35 billion currently. This would contribute $10.5 billion annually to the Canadian economy, including $3.5 billion beyond B.C. The trade increases are also projected to result in 178% growth in direct jobs by 2020, from 18,000 to 50,000.
If we continue to invest together in trade, we all win. We are talking about more trade, more business and more jobs for Canadians. We are talking about prosperity for all. This strategy clearly moves us in that direction.
In terms of jobs, we know that a skilled labour force and efficient labour market are ever important ingredients in Canada's winning formula for prosperity. Through ongoing investments, and now particularly the Pacific gateway strategy, markets in the Asia-Pacific can count on our country's highly educated, skilled and innovative workforce to move goods and services quickly, efficiently and in a secure manner.
In terms of trade and the economy, through the Pacific gateway strategy, our country has a unique competitive advantage to be host to trade and investment that is already flowing to these vibrant and emerging markets. Through the Pacific gateway strategy, our capacity for trade will continue to grow.
However, as I said at the beginning, this initiative will not only benefit the west, by investing in Pacific trade, Canada's economy grows and Canadians everywhere, from west to east, from north to south, stand to benefit.
An important part of the Pacific gateway strategy is that it builds upon Canada's strong record of infrastructure funding to further enhance the Canadian transportation network from west to east. Improving the transportation infrastructure by linking Canada's central and Atlantic provinces to the Asia-Pacific regions helps to reduce costs for firms involved in international trade. The reasons we should do this are clear. The central and Atlantic provinces exported close to $9 billion of goods and services to Asia in 2004, 82% of which depended upon marine transportation and port infrastructure.
Specifically, over $3 billion of Ontario's exports and close to $2 billion of Quebec's exports flowed through British Columbia to other countries, with another $50 million from the Atlantic flowing through that province as well. These provinces also imported roughly $17 billion worth of goods from Asia.
Improving logistics and security at borders while reducing transportation time are also key to attracting foreign direct investments in and facilitating exports from all parts of Canada.
With Canada's Pacific gateway strategy, the government is not just looking at transportation infrastructure. The strategy and the legislation have been designed to allow decision makers to better address a full range of interconnected issues that impact the effectiveness of the gateway and how well we take advantage of it. Deepening our links with Asia-Pacific is a central part of this: to permit Canada to support the better positioning of Canadian businesses, products and services in China and other emerging markets.
One of the specific measures that was announced October 21, 2005, as part of Canada's Pacific gateway strategy is an initiative to improve connections between Canada and emerging markets through the increased harmonization of standards. International standards and technical regulations directly affect more than 80% of the goods traded world-wide each year, with a total estimated value of more than $4 trillion U.S. The funding in this initiative will support Canadian participation in bilateral and multilateral standards harmonization activities and foster a greater understanding among implicated stakeholders of standards harmonization activities and developments and their impact on trade.
Mutually acceptable international standards, certification procedures and accreditation guidelines promote increased reciprocal market access for Asian and Canadian firms. Standards result in technology diffusion, common certification approaches and testing procedures. They also increase product interoperability, encourage innovation and reduce trade barriers. In addition, harmonizing standards increases product safety and encourages environmentally sustainable activities. This initiative will promote better access to Asian and other markets for businesses right across the country.
Of course, the Pacific gateway is not the only Canadian trade gateway. There are a limited number of other potential locations where an integrated gateway approach may be warranted by trade volumes of national significance and by transportation policy considerations.
In that vein, Transport Canada is developing a national strategy gateways and trade corridors policy framework that will guide future measures to tailor the gateway approach to other regions. While this framework will be based on the principles of the Pacific gateway strategy, future measures will not be identical to it. Instead they will be tailored to the circumstances and the opportunities in the regions concerned.
Canada's Pacific gateway strategy is an important part of the federal government's efforts to enhance Canada's long term prosperity. It will strengthen Canada's trade relationship as a leader in technology, manufacturing and service industries and support Canada's record as a safe and desirable country for tourists. It also represents a new policy direction for the government and builds upon other major initiatives to promote sustainable development, such as Canada's new deal for cities and communities, and will establish directions in transportation policy.
As my colleague pointed out, this strategy may be international in outlook but it is domestic at its core. Canada's Pacific gateway strategy has important advantages and benefits not only for western Canadians but also for Canadians right across the nation.
I look forward to helping implement this strategy which will bring further prosperity to all regions of Canada. I am sure everyone understands how important port activity is to my riding and to the people of greater and Lower Mainland British Columbia, not only for the movement of goods but also for the movement of people and tourists through western Canada to all of Canada.