International Trade committee  In terms of global trade, I believe the figure is roughly 5% of global trade transits through the Panama Canal. In terms of—

International Trade committee  It's a very small percentage. I don't have it at hand. I'd have to look it up.

International Trade committee  It would be quite small.

International Trade committee  There is, on the Caribbean side of the Panama Canal, an area called the Colon free zone, which I believe is, after Hong Kong, the second-largest logistics hub for trade in the world. Basically, ships bring their merchandise trade through the Panama Canal. They can unload it in th

International Trade committee  Let me first just say that in terms of manufacturing, for example, Panama is not really a manufacturing economy. It's much more a services- and logistics-oriented economy. Much of the economy is based on shipments through the Panama Canal. I know that Mr. Bouchard had something

International Trade committee  Again, I don't have specific figures, but I think their capacity would be relatively limited. Management of a lot of those infrastructure projects would need to be taken on by major foreign multinationals. Certainly, we expect that there will be opportunities for Canadian busines

International Trade committee  I'll keep it specific to Panama and this free trade agreement. Certainly that was a major motivation, not just for the Canadian government but of course the Panamanian government as well, to negotiate these market-opening opportunities in the trade agreement and have more rules-

International Trade committee  I certainly don't have those estimates, other than the IMF growth estimates I referred to in my opening remarks, but I do think that in general, if we take into account Panama's efforts to improve and widen the Panama Canal, to invest many billions of dollars, as I referred to, i

International Trade committee  There are several so-called “non-derogation clauses” in the FTA that prevent the parties on both sides from lowering their current standards, and there are also several provisions that encourage both parties to live up to and enforce their various environmental and labour standar

International Trade committee  Why don't we answer that question with respect to labour, given that Mr. Bouchard is here?

International Trade committee  I might point out, further to that question, that in the period you referred to when Cornell did the study, Panama was on the so-called OECD grey list for not having negotiated enough tax information exchange agreements with other partners. Since then, it has negotiated the minim

International Trade committee  To answer the question, we are looking at creating a level playing field in the market in Panama. That's one of the FTA objectives.

International Trade committee  Yes. Mr. Chair, the idea would be to open up markets going both ways, in both Canada and Panama.

International Trade committee  I'll turn it over to Mr. Bouchard.

International Trade committee  Thank you, Chair. Thank you, Mr. Chair, for this opportunity to appear before the committee and speak to Bill C-24, An Act to implement the Free Trade Agreement between Canada and the Republic of Panama, the Agreement on the Environment between Canada and the Republic of Panama