Mr. Speaker, it is an honour to stand in the House today and talk about the Canada-Panama labour co-operation part of the agreement in Bill C-24, which is a very positive initiative. It started many years ago, but even in January of this year our Minister of Labour visited Panama to talk about labour co-operation and discuss labour related issues. She met with government officials and people in business. She took the trip to support the free trade agreement but specifically to discuss labour related provisions. As we all know, our Minister of Labour is very much a supporter of having good labour relations and ensuring those conditions are in place so people can continue to work.
Our government is proud of its journey of bringing into place a number of free trade agreements. We are a free trade country. We have products that we need to export to other countries and we do that by partnering with other countries. However, we also need to ensure that we coordinate our labour issues with those countries. If we do that and work with our partners on a trade agreement, then obviously it becomes a potential benefit for Canadians.
As free trade agreements are signed and brought forward, they will bring forward many preferential investment opportunities. Many of those, through trade, will reach out into many aspects of the commodities that we have in Canada. However, we also want to ensure we protect the environment and those investments in it, along with labour. As we know, economic advancements cannot be made at the cost of labour rights.
It will be in interesting when the free trade agreement comes into force because Panama's trade tariffs sit at over 90% for Canadian exports going to that country. We hope that many of those tariffs will be eliminated. That is good news for all Canadian companies that export into that market.
For service providers to gain access, we need to help expand Panama's communications, technology and financial services markets. There is also a chapter that ensures there are rules that will govern Canadian investments to give greater protection and predictability to Canadian investors who are looking to invest into Panama, which will encourage companies to invest and help strengthen Panama's economy.
The free trade agreement also gives Canadian exporters of goods and services greater market access. That access goes into Panama's government procurement opportunities, one of the few that are available to it. One example that we know of is the Panama Canal expansion process that is happening or about to happen. It is one of the U.S. $5.3 billion worth of investment projects that will widen and make export and trade more accessible. It gives Canadian companies a procurement opportunity for products, whether it is Canadian goods and services, that they will be able to bid on.
When we talk about trade and economic growth, the goal is rationale, which we talk about within our economic action plan. We believe it is a part of free trade. It is more than just a philosophy. It is a key element of our economic policy and our relationships with other countries.
Quite honestly, this recession was the worst since the Great Depression of the 1930s and many countries around the world are still struggling through it wishing they had the same economic stability and governance that Canada does. It has intensified our negotiations with other countries so that we will be able to partner with them to help them and ourselves become stronger in our economy and labour rights. We are doing that particularly in the discussion today around Panama.
How do those opportunities for Canadian exporters actually happen?
Panama is a strategic hub logistically. It is a platform on which Canada can build on. It will allow commercial activity to grow through Central America, the Caribbean and the Andean region of South America. It brings in a great global perspective for trade. However, free trade is also about having a level playing field where Canadian businesses can compete in the Panamanian market.
In these challenging economic times, it is important than ever to build solid trade relationships with countries around the world to secure our future prosperity. Canada is committed to pursuing initiatives that will help Canadians compete in global markets, and Panama is one of those markets.
I will now talk about the importance of labour rights. As Canadians, we naturally want to see our country prosper and continue to prosper, but not at any price. We are eager to advance our trade agenda but we must also ensure that labour rights and obligations are respected. Prosperity cannot come at the expense of labour rights. This is a concession that we are simply not willing to make. We will not accept this free trade agreement nor any other accord without the proper concessions in place. As I said, we will ensure a level playing field and that means that everybody must play by the same rules.
There is also a labour co-operation agreement, which is why the free trade agreement with Panama is paralleled with a labour co-operation agreement. This agreement includes the enforcement of labour rights and a transparent complaints and dispute resolution mechanism.
Under the terms of the labour co-operation agreement, Canada and Panama have committed to ensuring that their laws respect and embody the International Labour Organization's 1998 Declaration on Fundamental Principles and Rights at Work. The declaration covers the right to freedom of association, the right to collective bargaining, the abolition of child labour, the elimination of forced or compulsory labour and the elimination of discrimination in the workplace.
It sounds a lot like the same labour standards that we uphold in this great country of Canada. However, it also demonstrates the government's belief that prosperity cannot come at the expense of workers' rights.
In the Canada-Panama labour co-operation agreement, both countries have committed to protect workers' health and safety on the job, as well as to provide compensation in cases of work -related injuries or illnesses. Both countries have also committed to establishing and maintaining minimum employment standards.
The fact that the Government of Canada is helping Panama address these issues speaks well of Canada. We are recognized as a country that is compassionate. We do what we say we will do and we trade with honest intent.
Businesses that treat their workers decently are more likely to attract skilled and productive employees, just like businesses that treat their customers well are likely to have better sales.
We have a reputation for honesty, integrity and reliability. We keep our promises and we play by the rules. We want to help build a Canada-Panama relationship to that same extent.
, I would encourage the members opposite to support Bill C-24, not only for Canada but also to help build a strong partnership with our colleagues in Panama. We want to strengthen Canada's economy, a foundation for future trade and opportunities to promote and ensure fair, productive and safe workplaces that will benefit both countries.