Mr. Speaker, the new government is looking at this sector very responsibly and the member even mentioned Korea. A free trade agreement with South Korea has the potential to deliver significant commercial benefits across a wide range of the Canadian economy, from agriculture, to high tech services, to investment.
We are aware of the concerns of certain sectors, including the automotive sector, about the potential impact of a free trade agreement with Korea. The government has studied the impact on the Canadian automotive sector of a free trade agreement with Korea. Our studies indicate that any impact will be very limited.
It is important to note that the Canadian auto industry has been a major beneficiary of trade liberalization through NAFTA and it currently exports 85% of its production.
The Government of Canada consulted extensively with Canadians, including the auto sector, prior to launching these negotiations. We continue to work with stakeholders to ensure their interests and concerns are reflected in the negotiating positions.
The government has not set a deadline for the conclusion of negotiations but we will continue to take the time necessary to ensure the best deal for Canada and that a good deal is made.