Mr. Speaker, so far in this debate I often have heard these questions. Why now? Why proceed with this after over 40 years? We had the opportunity then and did not, so why now? I want to attempt to answer some of those questions.
I think the hon. member and most members in the House recognize that foreign investment 40 years ago was not what it is today. It has increased substantially. I would also like to point out that in regard to the 143 countries that have signed on to ICSID, there have been 100 disputes, and the majority of those disputes have been just in the last five years. We are seeing a lot of uptake on ICSID and the opportunity that it provides for business and arbitration.
The hon. members in the House, particularly the member for Newton—North Delta, talked a little about business in their communities. I think it would be interesting for him to know that the Canadian Chamber of Commerce and the business community very much want to see this go forward because it is a benefit for them.
Because foreign investment has increased substantially in the last 40 years, and of course the uptake on ICSID and the arbitration process would ensure and confirm it for the House, would he agree that this is something Canada should be going forward with at this stage?