Mr. Speaker, it is actually $29 trillion. This agreement is so significant because it represents close to 40% of global trade. Imagine Canada being on the outside looking in and how much that would cost us.
With respect to the question about these non-tariff barriers, often we refer to them as SPS, sanitary and phytosanitary standards, that are applied, for example, in the food and agriculture industries, every country around the world establishes standards, rules and regulations for the quality and the health of their food products. We want to ensure that what we eat is healthy.
However, those standards and rules can be manipulated to act as protectionist measures. Therefore, they are not applied for the purposes for which they were first created; they are applied in a way that discriminates against foreign products. Free trade is all about not discriminating against foreign products. The beef industry suffered greatly when the door to South Korea was closed. It was our Conservative government that moved forward and opened that market again, and now we have the free export of beef into that marketplace. Our cattle and beef folks are very happy with those deals and also with the TPP. We are opening up huge markets within the Asia-Pacific region.