Mr. Speaker, as you know, Canada is one of the great trading nations of the world. For many, many years we as a country have relied on trade to provide us with prosperity and to provide us with a standard of living which is the envy of the rest of the world. During these challenging economic times Canada has to look at how we do business going forward.
Presently, 75% of our trade is with the United States. That is good news, but it is also bad news. By having 75% of our trade with one country we become very dependent on that country's economy. During this recession, we have noticed that when the United States is having serious economic problems, we are feeling the impact of that.
Some time ago the World Trade Organization negotiations for a global agreement on trade fell apart. This provided a new opportunity for Canada to enter into bilateral trade relationships with countries around the world. Not only will these relationships strengthen our economy, but we in turn can have an influence and an impact on other countries that are perhaps developing. We can help them enhance their prosperity.
To that end, our Conservative government has been very aggressive in pursuing bilateral free trade agreements with countries around the world. For example, in the last four years our government has opened doors to Canadian businesses by signing free trade agreements with Colombia, which is the agreement we are debating today, and with Peru, Jordan, Panama, and the European Free Trade Association, which covers the countries of Iceland, Norway, Switzerland and Liechtenstein. But there is much more work to be done.
We have actually engaged with Brazil and opened new trade offices in that country. Brazil is South America's largest economy. Our trade in 2008 totalled some $2.8 billion, which was an increase of 70% over the year before. That is great news for our economy and it is also great news for Brazil.
At the same time our government launched discussions on an economic partnership with two of the world's largest economic groups, the European Union and India.
It is self-evident that Europe provides a huge opportunity for Canada. We have not had a free trade agreement with European countries in the past but have now started negotiations toward that kind of agreement. If we sign a free trade agreement with the European Union, we expect the benefits to Canada to be in the order of $12 billion per year.
We are in the middle of a global recession that is impacting all countries around the world. We have an opportunity right now to buttress ourselves against the impacts of that recession and perhaps future economic challenges that will arise around the world. Twelve billion dollars is the potential from one free trade agreement with the European Union alone.
Of interest to my constituents in Abbotsford would be the country of India. Some 20% to 25% of my residents have Indian origin. Some 25,000 Indo-Canadians live in Abbotsford and they frequently travel to and from India. Many of them are business people who have business relationships spanning the globe.
We have recently launched negotiations with India aimed at the conclusion of a comprehensive economic partnership. Simultaneously, we also have discussions underway which are aimed at the conclusion of a nuclear cooperation agreement between our two countries.
We have also opened up eight new trade offices in India. I had the pleasure of accompanying the citizenship and immigration minister to India in January and we were able to see some of the offices that we opened there.
I can say from personal experience, Indians are open to these new trade relationships. They know that there is a mutual benefit there, not only for them but for Canada to strengthen those relationships.
We have not stopped at just India and Europe. We are also looking at the Middle East. Our government has signed a free trade agreement and foreign investment protection agreement with Jordan. We are also having further discussions with the country of Morocco, with a view to perhaps commencing free trade negotiations with that country.
Of course, I have not even mentioned China, which is the world's largest emerging economy. Most Canadians understand how important China is to our economic prosperity and future. Our government has made impressive gains with our commercial relationship. Quite a number of our government's ministers have travelled to India in recent months and in the last two years. China, believe it or not, is now Canada's second largest trading partner. It has leapfrogged over Japan and is now in second place. We would be remiss if we did not pursue economic and trading opportunities with that country.
To that end, we have recently opened some six new trade offices in various cities in China under our global commerce strategy. Again, this is great news for our country. It is great news for our economic prosperity. In return, of course, we assist China, because that is an emerging economy, one that wants to take its place in the world, wants to modernize, and obviously Canada is willing to cooperate and to become engaged in doing so.
One of the disappointments I recently heard about was that the Liberal Leader of the Opposition had planned to make a trip to China. Because of his focus on trying to win power here in Canada, because of his threats to go to an election, he actually cancelled his trip to China. Here we have opportunities to build these relationships, opportunities to build trading relationships with the largest emerging economy in the world, and the Leader of the Opposition, after making arrangements to travel to China, puts his own political interests ahead of those of Canada by cancelling that visit.
Our Prime Minister is committed to travelling to China in November. He has not cancelled that visit. It surprised me that the Liberal leader would actually do that.
The previous Liberal government, over 13 years, signed a paltry three free trade agreements. In 13 years, only three agreements, which should have strengthened our economy and further cushioned us against things like the current global recession. At this time of global economic downturn, Canadians can count on our Conservative government to oppose protectionism and defend free and open trade on the world's stage. That is why our government has negotiated new free trade agreements with many, many different countries over the last three and a half years, including Colombia. This Colombia free trade agreement will create new jobs for Canadians and Colombians alike, but developing new market opportunities and improving human rights are not mutually exclusive.
Canada has one of the most well-respected human rights records in the world. For us to expect other countries to rise to our level of human rights before we ever engage in trade relationships with them is ridiculous. It is self-evident that if we want to engage with other countries not only on trade but on issues of human rights, it is advisable to link those. That is why the Colombia free trade agreement actually does link those. That free trade agreement has specific provisions addressing labour, human rights and even environmental requirements. There are enforcement provisions in the Colombia free trade agreement as well.
I speak strongly in favour of the government and Parliament moving ahead and finalizing the Colombia free trade agreement. It is good for Canada and it is good for Colombia.