Mr. Speaker, I am very pleased to join today in strong support of the Canada-Korea economic growth and prosperity act.
As we have said regularly, our Conservative government is committed to protecting and strengthening the long-term financial security of hard-working Canadians. We understand that Canada's prosperity requires expansion beyond our borders into new markets for economic opportunities that serve to grow Canada's exports and investments. That is why we will continue to deliver pro-export leadership.
Since coming to office in 2006, we have reached free trade agreements with 38 countries. These countries make up more than half of the global economy and represent nearly one-quarter of the world's countries. When they were in power, the Liberals took Canada virtually out of the game of trade negotiations, putting Canadian workers and businesses at severe risk of failing and falling behind in this era of global markets. In fact, the last time the Liberals tried to talk seriously about trade, they campaigned to rip up the North American free trade agreement.
Before I continue any further, I will mention that I will be splitting my time with the member for Huron—Bruce.
Our government cares deeply about trade and our country's economic growth. Last fall the Prime Minister announced a historic agreement in principle with the 28-nation European Union that will give Canadian businesses preferred access to half a billion affluent customers.
I always go back to what my cattlemen said. They did not talk about the affluent customers but about the hungry customers, because they saw a tremendous opportunity for the cattle export business. Right in my own riding, people are seeing the enormous opportunities that this agreement would provide.
Our Conservative government recognizes that protectionist restrictions stifle our exporters and undermine Canada's competitiveness, which in turn adversely impacts Canadian families. That brings me to the issue at hand today, which is the Canada-Korea free trade agreement.
Implementing this free trade agreement is critical to maintaining Canada's competitive position in the global marketplace. It would restore a level playing field for Canadian companies in the South Korean market. Right now our competitors, including the U.S. and the EU, are already enjoying preferential access because of their respective FTAs with South Korea.
For Canada, the Canada-Korea free trade deal is a landmark agreement. It represents our first bilateral trade agreement in the Asia-Pacific region.
I heard the critic for the NDP talk earlier in terms of central Canada and eastern Canada, which tend to look to South America and Europe, but to our western provinces of British Columbia, Alberta, and Saskatchewan, the whole Asian-Pacific gateway is incredibly important. It really is a key to increasing our global competitiveness.
Of course, trade and investment represent the twin engines of growth for the global economy, and again I have to reflect on the anti-trade ideology of the NDP. Although the NDP may support the bill a little bit, it is a fact that it did try to sabotage this bill at the trade committee. Rather than thinking about what is best for all Canadians, the NDP tabled amendments to remove the investor protection provisions, cornerstones of a modern trade and investment agreement, in order to please a small group of its supporters and perhaps some supporters of the Green Party.
On this side of the House, we know that there is no better job creator or economic growth generator than freer and more open trade. Canadians are proud of our long history as a trading nation, and for good reason: one out of every five Canadian jobs is dependent on exports. In fact, trade drives 64% of all of Canada's economic activity every year. That is why we have embarked on a very ambitious pro-trade plan. I believe it is the most ambitious in Canadian history.
A diverse range of sectors would have increased trade opportunities because of this free trade agreement, including industrial goods, agri-food products, fish and seafood, and forestry products. Earlier I mentioned beef; another area that is relevant to my riding in British Columbia, Kamloops—Thompson—Cariboo is forestry. It is incredibly important to open that up, as it has gone through a little bit of a difficult time with the economic recession. There are huge opportunities.
Canada's world-class service sectors would also benefit from improved market access, including professional services and research and development services.
The Canada-Korea free trade agreement would create thousands of jobs for Canadians by increasing our exports to South Korea by 32% and boosting our economy by $1.7 billion. Over 88% of Canada's exports would be duty free upon entry into force, and over 99% would be once the deal was fully implemented. The huge amount of Canadian exports becoming duty free upon the coming into force of the agreement is important, given the urgency of restoring our competitive position in the South Korean market.
It is important to note that when embarking on trade deals with other countries, we do so bearing our responsibilities in mind. I am happy to say that while we are working hard to advance our trade agenda, our government is also ensuring that labour rights and obligations are respected. That is why the free trade agreement with Korea has a labour chapter that includes robust labour provisions.
Canada and Korea have committed to ensuring that their laws embody and provide protection for internationally recognized labour principles and rights, notably those included in the International Labour Organization's 1998 Declaration on Fundamental Principles and Rights at Work. For those who may not be aware, the declaration covers the right to the 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. Through these provisions, we demonstrate our shared commitment to improving labour standards and protecting the rights of workers.
Both countries have also committed to ensuring acceptable protections concerning occupational health and safety, including compensation in cases of injuries or illness; employment standards, including minimum wage and overtime pay; and non-discrimination in respect of working conditions for migrant workers.
The labour provisions in this agreement stand out from the pack. For the first time, all obligations are now subject to a dispute settlement mechanism, which may apply financial penalties in the case of non-compliance. The labour provisions are comprehensive and enforceable. That speaks to the level of commitment from both countries to maintain high labour standards in this trading relationship.
Our relationship with South Korea is not new. Canada has long enjoyed positive relations with South Korea. In 2013, we marked our 50th anniversary of diplomatic relations. While the agreement would provide a modern and stable foundation to grow our bilateral relationship, it builds on a long history of political and economic co-operation. During the Korean War between 1950 and 1953, Canada contributed the third-largest contingent of troops to the United Nations Command. There were some 26,791 Canadian soldiers who served in Korea, of which 516 lost their lives. After the Korean War armistice, 7,000 Canadian soldiers served as peacekeepers between 1953 and 1957.
Significant trade and investment ties have further solidified our relationship. South Korea represents an important market for Canadian commodities and has proven to be a valued source of investment. Without question, the agreement will level the playing field for Canadian companies and enhance their ability to tap into global value chains, boosting their global competitiveness, profitability, and long-term sustainability.
The benefits of the Canada-Korea free trade agreement for our country are far too significant to overlook. Canadian stakeholders from across the country have repeatedly called for the agreement to enter into force immediately to secure Canada's competitive position in the South Korean market. Our government is equally keen to tap into the Asian market and create more jobs for hard-working Canadians. For these reasons, I call for the urgent passage of Bill C-41 and the rapid implementation of the Canada-Korea free trade agreement.