Madam Speaker, I am honoured today to stand to speak to Bill C-30, an act to implement the comprehensive economic and trade agreement between Canada and the European Union, otherwise known as CETA.
This is a historic agreement, so I would first like to take this opportunity to thank my Conservative colleagues, the hon. member for Abbotsford, the hon. member for Battlefords—Lloydminster, and of course, the Right Hon. Stephen Harper, for all of their hard work and dedication in making this become a reality. Without their steadfast commitment to increasing Canada's economic productivity, driving our country's prosperity, and creating good-paying jobs for Canadians, we would not be discussing this trade agreement today, so I thank them.
When the previous Conservative government had the privilege of being elected in 2006, Canada had trade agreements with less than five countries. It was our party that understood the importance of trade and the economic benefits that it produces. As a result, Conservatives fought to increase the number to over 50, signing 46 new trade agreements, and opening up new markets for Canadian companies to have access all over the world.
Canada has always been a trading country. Right now, trade makes up 70% of our country's GDP, and one in five Canadian jobs depends on it. Needless to say, our economy depends on having this open, secure access to foreign markets to trade our Canadian products, and in a rapidly more global economy, our companies will need even more favourable access if they are to thrive.
With 28 member states, the EU represents 500 million people and annual economic activity of almost $20 trillion. This makes the EU the world's largest economy. It is also the world's largest importing market for goods. In fact, the EU's annual imports alone are worth more than Canada's entire GDP, making the EU market a lucrative place to do business.
As the largest market in the world, Canadian companies deserve an opportunity to sell their products and services to and in those countries. The previous Conservative government recognized early on that this part of the world would provide a great opportunity for Canadian businesses to expand and succeed, and I would like to thank the Liberals for continuing with this important work. However, with the recent waves of protectionist sentiment and the Prime Minister's willingness to renegotiate our most vital of trade agreements with one of our largest trading partners, the U.S., it is crucial now more than ever that we get it right.
Ontario in particular stands to benefit significantly from preferential access to the EU market. The EU is already Ontario's second largest export destination and second largest trading partner. Once in force, CETA would eliminate tariffs on almost all of Ontario's exports and provide access to new market opportunities in the EU. CETA would also provide Ontario exporters with a competitive advantage over exporters from other countries that do not have a free trade agreement with the EU.
In my beautiful riding of Haldimand—Norfolk, agriculture is a very important part of the local economy. When many people think of my area, agriculture is the first industry to come to mind, but there are many other industries, including manufacturing, that are crucial components of what makes the community function. Once CETA comes into force, nearly 100% of all EU tariff lines on non-agricultural products would be duty-free, along with close to 94% of all EU tariff lines on agricultural products.
Many of the businesses in my area currently export to the United States, so naturally, the talks around negotiating and renegotiating NAFTA are making many of these business owners nervous and, indeed, uncertain about their future. On the positive side, CETA would open a huge new potential for many of these businesses and they would be able to ship their products to the EU, in many cases tariff-free. CETA is an important opportunity to provide constituents in my riding with perhaps a little peace of mind during these uncertain times, providing them with potential new markets and a customer base that would continue to bring in economic benefits to Haldimand—Norfolk.
In fact, studies have shown that a trade agreement with the EU could bring a 20% boost in bilateral trade and a $12-billion annual increase to Canada's economy. This is the equivalent of adding $1,000 to the average Canadian family's income, or almost 80,000 new jobs to the Canadian economy. In Haldimand—Norfolk, that means a possible $3 million coming into our small communities. What is more, the agreement would also establish greater transparency in the EU services market, resulting in better, more secure, and more predictable market access.
I do, however, have some points that I would like to emphasize, and I hope that the Liberals will keep these in mind as they enter into the final stages of this deal.
The first is that the Liberal government must honour commitments that were made to vital sectors of our economy. These include the agricultural supply management arena, as well as commitments made to the Province of Newfoundland and Labrador in terms of the CETA fisheries investment fund.
The second is that, as my Conservative colleague from Central Okanagan—Similkameen—Nicola has previously mentioned, I too hope that the Liberal government will work hard to assist small businesses looking to enter into these new international markets. As he pointed out, many of these businesses simply do not have in house the resources necessary to navigate these new trade waters in a way that would benefit their company and help them succeed. Most companies in my riding of Haldimand—Norfolk are small businesses, and I know that they would welcome any assistance.
I support CETA and I look forward to the opportunities that it would create for my riding, for southwestern Ontario, and indeed for all of Ontario and Canada. The fact is that many businesses in Ontario in particular and in my riding of Haldimand—Norfolk are hurting. They need to see some light at the end of the tunnel. With rising hydro costs and increasing Liberal taxes, many of them are struggling to survive. They need more opportunities to get their products and their services to market, to make a living, to provide for their families, and CETA would do just that.
This trade agreement would also establish trading relationships beyond North America, provide economic prosperity for Canada, and help create well-paying jobs for Canadians. As CETA approaches its final implementation, our party will continue to hold the Liberal government to account and ensure that Canadians reap the benefits and the rewards of free trade.