Mr. Speaker, I will be sharing my time with the member from Mississauga East—Cooksville.
I am very pleased to rise today as a proud member of the Standing Committee on International Trade. This is my fourth year serving on that committee and it is always very interesting. We have studied a number of free trade agreements. Today, I am rising to discuss Bill C‑13, which seeks to implement the United Kingdom's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.
First of all, it is important to remember that this bill does not create a new trade agreement. The CPTPP already exists. Canada has been a member of it since 2018, along with 10 other major economies in the Indo-Pacific region. What we are doing today is welcoming a new partner into the agreement, a major addition. With the United Kingdom's accession, the CPTPP will go from 11 to 12 economies and will represent close to 600 million consumers, or around 15% of global GDP.
International trade is central to Canada's prosperity. Our nation is a trading nation. About one in five jobs depends on exports, and more than 60% of our gross domestic product is tied to international trade. Every year, Canadian companies export more than $780-billion worth of goods and services around the world. These exports support millions of jobs in every region of the country.
In an ever-changing world, it is essential for Canada to diversify its trading partners. Just look at what is happening south of the border. That is one of the main reasons we need to diversify our markets. It is therefore strategic for our country to open up more markets elsewhere in the world.
The United Kingdom's accession to the CPTPP is a step in that direction. The United Kingdom is the world's sixth-largest economy, with a GDP of over $3 trillion and a population of nearly 70 million. Bilateral trade between Canada and the United Kingdom already exceeds $40 billion annually. It is our third-largest trading partner. The United Kingdom is also one of the largest investors in Canada, with more than $90 billion in direct investment in our economy. The United Kingdom's accession to the CPTPP will therefore strengthen these economic ties and open up new opportunities for our businesses.
This bill is also strategic for another reason. It positions Canada as an economic hub between Europe and the Indo-Pacific region. Canada is in a unique position given that it is a member of the CPTPP and has a trade agreement with the European Union. We are one of the few countries in the world that has preferential access to markets representing more than 1.5 billion consumers. This creates extraordinary opportunities for Canadian businesses. In my riding in the Lower Laurentians, which includes Rosemère, Boisbriand, Saint-Eustache and Deux-Montagnes, many businesses depend directly on international trade.
There is a very large aerospace industry in the Lower Laurentians, as well as a sizable agri-food and food processing industry. We have innovative small and medium-sized businesses, thriving manufacturers and entrepreneurs who export their products all over the world. Trade agreements are not abstract concepts for these businesses. They represent real opportunities for growth. They mean new markets, new partners and new jobs here in Quebec and Canada. Several key sectors of our economy will benefit from this expansion of the CPTPP.
As I mentioned earlier, the aerospace, agri-food, clean technologies, service and innovative industries come to mind. These sectors play a vital role in the Canadian economy. For example, the agri-food industry accounts for $140 billion in economic activity in Canada and employs more than two million Canadians. Aerospace, for its part, accounts for nearly 215,000 highly skilled jobs and contributes more than $28 billion to the Canadian economy. Access to new markets can therefore have a direct and positive impact on these industries.
I want to raise another point. As chair of the Liberal women's caucus, I want to highlight an important dimension of modern trade. International trade needs to be more inclusive. Today, a growing number of women are running businesses in Canada. Women-owned businesses account for 18% of Canadian SMEs and that number continues to grow. However, many entrepreneurs still face barriers when it comes to accessing international markets. Modern trade agreements, like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or the CPTPP, can help create more opportunities for women entrepreneurs by making it easier to access markets and by supporting the growth of SMEs. When women succeed in business, the entire economy benefits.
It is also essential that international trade reflect the values we stand for. The CPTPP includes important provisions on labour rights and environmental protection. These provisions help ensure that economic growth respects high standards and is in line with sustainable development. Trade can be a powerful driver of prosperity, but it must also be fair, responsible and sustainable.
In a global context marked by economic uncertainty, geopolitical tensions and rapid changes in supply chains, it is more important than ever for Canada to strengthen its partnerships with countries that share our values. The United Kingdom's accession to the CPTPP sends a clear message. It demonstrates that Canada believes in open international trade based on rules founded on co-operation between reliable partners.
This bill will open new doors for our businesses, support job creation, and strengthen Canada's position in the global economy. Trade agreements are not just legal documents. They are tools for prosperity. When they are well negotiated, as is the case with the CPTPP, they allow Canada to export not only its products, but also its values: high standards for workers, for the environment, and for fair competition.
That is exactly what this bill does today.