Mr. Speaker, it is a privilege and an honour to rise in the House this afternoon to speak to this very important Canada-Panama free trade agreement.
I think it is the third time that I have visited Panama as part of the trade committee of which I have been a member for about six and half years. Back in May 2008, we travelled to Panama and had over 60 hours of extensive debate in a variety of committees and in the chamber. I am hoping that later this afternoon we will see logic prevail and this agreement continue through the House and become an act as soon as possible for businesses across Canada so they will have a rules-based and fair-trading system in a Canada-Panama relationship.
I will first take a moment to thank all the members of the House who paid tribute to our veterans. The speeches we heard were very emotional. When we look into the eyes of our veterans, we think of the men and women who are serving today and have served. I think of the veterans in my riding of Kelowna—Lake Country. It is an honour and a humbling experience to be their member of Parliament. It is because of their dedication and sacrifice that we have the best country in the world.
Our government believes in the importance of our veterans. We also want to expand our economy to make Canada an even better place.
We are focusing on a global commerce strategy because we understand the importance of trade. In fact, one in every five jobs is dependent on trade in Canada and it represents nearly 65% of our country's income. Indeed, the importance of international trade to an export-oriented economy like Canada has cannot be overestimated. There is no doubt that trade sustains the incomes and living standards of Canadians and ensures the long-term prosperity of our country. Furthermore, integration with regional and global trading networks is essential.
As a trading nation, Canadian exporters, producers and investors need access to international markets to stay competitive. It is pretty simple: When we trade, we become more competitive. Prices for goods and services go down. wages, salaries and our standard of living go up, and businesses are able to hire more workers. In addition, internationally-oriented firms are better positioned to withstand global downturns.
Our government understands, as most Canadians do, that trade is a kitchen table issue. The Minister of International Trade is with the Prime Minister in India right now working on expanding agreements. He understands the importance of trade to help families put food on the table and make ends meet.
We have heard from my hon. colleague for Yellowhead earlier today and yesterday from the member for London West, the hard-working member for the 10th largest city in Canada, as he likes to inform us, on the importance of how we need to work together to break down these trade barriers so that Canadian businesses can be competitive.
In my own riding of Kelowna—Lake Country, Campion Marine, the largest boat manufacturer in Canada, is continually requesting that we break down barriers so that the excise taxes that are in place in other countries can be eliminated and it can be competitive. That 5% sometimes can be the difference between success and hiring more people or, unfortunately, not being competitive in the marketplace.
As I mentioned, not only does trade support the quality of life for Canadians but it provides hope, jobs and opportunities for our children and grandchildren. It would be difficult for the average Canadian to imagine a world without international trade.
Our Conservative government clearly understands that our standard of living and Canadians' future prosperity will be generated by deepening and broadening our trading relationships. That is why deepening Canada's trading relationship is rapidly growing in markets around the world, such as Panama, which is an important part of this government's pro-trade plan for jobs, growth and long-term prosperity.
Canada's exporters, investors and service providers are calling for these opportunities. Business owners and entrepreneurs want access to global markets. We heard numerous witnesses testify at our trade committee saying that they need to be competitive. Unfortunately, the opposition continues to delay this.
We heard back on October 31, just last month, that the Panama-U.S. agreement had come into place. However, we are still at the gate. Our American colleagues in the south and their businesses are out making deals while we are spinning our wheels.
We cannot stop this. We need to continue to move forward. With the co-operation of the opposition and all members of this House, we can continue to expand, establish and grow our pro-trade plan.
Since 2006, Canada has concluded new trade agreements with nine countries. They include: Colombia; Jordan; Peru; the European trade association member states of Iceland, Liechtenstein, Norway and Switzerland; most recently, Honduras; and, of course, the discussion this afternoon is on Panama.
We are also negotiating with more than 50 countries, including major economies such as the European Union, India and Japan. Last week I was with some of the trade committee members in Japan where we are working on an economic partnership agreement, which is looking very promising, to expand relationships with Japan.
A deal with the European Union would represent the most significant Canadian trade initiative since the North American free trade agreement. Such a deal could potentially boost our bilateral trade with this important partner by 20%. It could also provide a $12 billion annual boost to Canada's economy, which is like a $1,000 increase in the average Canadian family's income or almost 80,000 new jobs.
Canada has also officially joined the trans-Pacific partnership, otherwise known as the TPP. The potential benefits of this initiative are enormous. The TPP market represents more than 658 million people and a combined GDP of over $20 trillion.
By improving access to foreign markets for Canadian businesses, we are supporting the Canadian recovery and creating new jobs for Canadian workers. It is part of our economic action plan. As the Minister of Finance alluded to during question period, the importance of helping small businesses grow with a tax credit is an initiative within budget 2012.
Within our free trade agreement with Panama, we have the government's efforts to strengthen the Canadian economy once again. These are multi-prong approaches to help grow our economy and create jobs. Pursuing bilateral and regional trade agreements is essential to bringing continued prosperity to Canadians.
I understand, and it is unfortunate, the opposition NDP continues to stand in the way of our efforts to open up new markets for our exporters. I would love to see the WTO and the multilateral agreements come to completion as well, but the reality is that they are stalled. In the meantime we continue to work with bilateral agreements and multilateral with the trans-Pacific partnership.
The NDP comes up with all these excuses and says it believes in free and fair trade. We do as well, but we are also doing the trade agreements rather than just talking about them. The fact is that the NDP's anti-trade record is clear. My hon. colleague and seatmate just asked the opposition party if it could please list off the number of trade agreements it has supported over the last 20 years. It was like a deer in the headlights. Unfortunately, there was no response. The NDP members like to talk about it over there, but we are doing it. Going all the way back to NAFTA, they have consistently opposed our efforts to create new opportunities for exporters and investors. On this side of the House, we are tired of hearing all the naysayers. We will continue to move forward in creating jobs.
The anti-trade NDP's special interest backers continue to fearmonger and misrepresent the facts about trade. They believe that the global economy is something Canadian workers should fear. Our government knows that our businesses, our entrepreneurs and our workers can compete with the very best in the world and win. With a rules-based, level playing field, Canadians will be number one.
However, to compete and win, Canadians need to be on a level playing field. With the entry into force of the United States-Panama free trade agreement just last month, Canadian firms are no longer competing on a level playing field. Their American competitors are now able to sell their products in Panama at a lower cost as the result of the duty-free access they enjoy under the US-Panama FTA. This is why the implementation of this trade agreement is an urgent priority for our government. Canadian companies are constantly proving that they are competitive enough to compete and succeed in the global marketplace, but the government has a responsibility to do all it can to help those companies succeed abroad.
Governments do not create jobs. We create the framework and the environment. We minimize regulations. We have to have incentives where necessary, but ultimately it is the private sector that will create the jobs. That is why our government will fight to ensure that businesses have what they need to be successful abroad and ensure that the Canada-Panama free trade agreement is ratified and enters into force as soon as possible.
In closing, we must prevent Canadian firms from losing market share in Panama and defend the competitiveness of our businesses in this fast-growing emerging market. In a short time, we will be voting on Bill C-24 in the House. This is why I ask for the support of all hon. members for the Canada-Panama free trade agreement and the parallel labour co-operation and environment agreements. It is the right thing to do for Canadians.
