Mr. Speaker, the hon. member for Dartmouth—Cole Harbour only has to go back and check the records. It was in July 2011 that the OECD formally placed Panama on its list of jurisdictions that had substantially implemented the international standards for exchange of tax information, commonly known as the white list. This important achievement demonstrates Panama's commitment to combatting international tax evasion and I trust it should appease most of the concerns of the opposition.
The question is not whether Panama is on the grey list or on the white list. Panama has moved forward. We can either accommodate that and congratulate and reward Panama on that, or we can punish Panama and put it back on the grey list.
With the twinning of the Panama Canal, in 2014 Panama will be about to carry 5% of the entire trade on the planet earth. Canada is in a terrific position and an advantageous position to participate in that. We would be foolhardy not to congratulate Panama on the steps forward it has made and not continue to broaden our trade with it and bring it further into the community of nations in the OECD.