Mr. Speaker, what a privilege it is to stand in my place today to talk about a very significant piece of legislation that goes a long way in fulfilling the Liberal government agenda in terms of international trade.
Canada is a trading nation. We are dependent on international trade. If we compare our population to other countries, I suspect that we would find that Canada is more dependent on trade than most countries, especially in the developed world.
As we move forward in the years ahead, it is of the utmost importance that the government of the day give special attention to trade. Trade is what generates hundreds of thousands of jobs, good, solid middle-class jobs. We would like to, as much as possible, create the jobs of the future that will assist in Canada's growth and prosperity in the years ahead.
Since we have been in government, the Prime Minister and the cabinet and my caucus colleagues have done a phenomenal job on the trade file. I compliment the current minister and the parliamentary secretary, who have put in so much time to ensure that we have the bill before us today. It has not been an easy feat.
Canada and the EU began negotiating CETA back in 2009. On August 5, 2014, the parties announced an agreement in principle on the negotiated text. In February 2016, the parties announced the completion of the legal review of the English text of CETA. Progressive changes were required and made to the investment chapter of the agreement during the legal review of the text.
Canadians know full well that this was not a done deal. When we took the reins of power just over a year ago, there was a great deal of work done to keep this thing afloat. We owe a great deal of credit to our negotiators and the minister responsible for ensuring that we were able to get all the t's crossed and i's dotted so that we could debate the bill.
It is not to take away from the efforts of the former Conservative government. We acknowledge the efforts of that administration. I think it bodes well that the government has changed and we have been able to pick up the ball and carry it over the goal line. I think that is a positive thing for all Canadians.
Canada and the EU officially signed the Canada-EU agreement at a summit on October 30, bringing this landmark agreement one step closer to entry into force.
Both Canada and the EU now need to take steps to implement the agreement according to their respective domestic procedures. This is just one of those procedures.
The EU market represents an unprecedented opportunity for Canadian businesses. The EU is the world's second-largest economy and Canada's second-largest trading partner, after the United States. It is also the world's second-largest import market for goods, with annual imports worth more than Canada's GDP.
CETA is a comprehensive trade agreement that will cover virtually all sectors in our nation. Once implemented, and this is what I find quite amazing, approximately 98% of the EU tariff lines, or more than 9,000 tariff lines in total, on Canadian goods will be duty free immediately upon entry into force. That is up from 25%. An additional 1% will be eliminated over a seven-year phase-out period. This is good news for Canadians, no matter what region of the country they live in.
Trade means growth, and more growth ultimately means more jobs. If we want Canada's economy to grow and do well into the future, we need to look at ways in which trade can enhance that.
Canada, as a country, is thrilled that this agreement has been signed. It is a progressive trade agreement with our European partners. It will deliver tangible growth and opportunities for our middle class and those aspiring to be a part of it. As one of my colleagues said earlier day, it is for all Canadians in all regions of our country. This agreement will also provide a strong foundation for Canada and the EU to demonstrate leadership on an inclusive, progressive approach to global trade.
Since being in government, we have taken a very aggressive and progressive approach on the trade file. We can talk about Bill C-13, which dealt with the World Trade Organization, and included 162 countries around the world. This agreement allowed for trade facilitation. It was probably the most significant legislation since the creation of the World Trade Organization. We were able to bring it through and get it out of second reading.
We can talk about another piece of legislation that is not too far down the pike, and that is the issue of trade with Ukraine. Again, we have a very unique situation with a very special partner in the world. It is a country many of us have been following very closely, because of the recent transitions that have taken place in Ukraine over the last four or five years.
I recall vividly the President of Ukraine addressing this chamber. He asked us to come up with a trade agreement, and challenged us to do so. Through the efforts of the previous Conservative government and the current administration under this government, we were able to sign off on that trade agreement. We anticipate seeing that legislation.
We can talk about legislation with these three pieces and, in particular, the one that we are debating today. We can talk about other work that has been done, such as the issues with canola just a few months ago in China, affecting hundreds of millions of dollars. We had a minister working in co-operation with agriculture and international trade, along with the PSs and other departments. We were able to address the issue of canola using science and providing the necessary assurances in Russia, which saved the day for this important commodity, particularly for prairie provinces and my home province of Manitoba.
We can also talk about the increased opportunities through clarification on trade dealing with pork and cattle. Again, the government has addressed all of this within one year.
At the beginning of my comments, I talked about the Liberal government being one of acknowledging the importance of international trade. We are a trading national, and it is imperative we do what we can to ensure Canada is on the right side of trade. Back when Jean Chrétien was the prime minister, as well as Paul Martin, we had healthy trade surpluses, which led to tens of thousands of jobs. However, we inherited a significant trade deficit.
This might take time, but we are prepared to do what we can. Whether it is a manufactured product, an arts product, or a service industry, we have some of the very best in the world and we need to break down barriers where we can. This bill would do that.