Mr. Speaker, the government is fast tracking a Canada-Korea free trade agreement that it wants signed and in place this year. It is absolutely essential that this agreement contain terms and conditions that protect Canadian industry and Canadian jobs.
We have a huge trade imbalance with Korea, especially in manufactured goods, and particularly in the auto sector, where the ratio of imports to exports is 150 to 1 in its favour. Eliminating tariffs will not give us greater access to Korean markets that are protected by relationships among their government and the manufacturers and banks. It will in fact increase this imbalance and mean the loss of more Canadian jobs.
Our auto industry is facing difficult challenges related to the Canadian dollar and the financial crisis of North American automakers. We have lost 20,000 assembly and parts jobs in the sector since 1998.
We should only proceed with this bill if it includes absolute assurances of equality in both the value and the nature of goods exchanged between Canada and Korea.