Yes, I think we have a significant advantage. For one thing, in the negotiations themselves, in the way we've designed the outcome on a lot of the chapters, a lot of the provisions are obviously done in a way that's favourable to Canada. The EU will be taking a lot of that to the negotiations with the U.S., so we already have a model that's going to be represented that way.
When the agreement, the CETA, comes into effect, we will have a significant advantage over our U.S. competitors. In many cases, it's going to be a 10% to 15% advantage, which is not huge but will make the difference in a lot of contracts. In other cases, it's far, far larger than that, and we will be into markets that the U.S. will not be able to negotiate their way into. I think we have an advantage in forming customer relationships in the EU ahead of the U.S. All of that we'll be able to pursue first.
We need to keep in mind that in a negotiation like that it's not a given that you're going to be able to complete it. We certainly had periods where we weren't certain. The U.S. and the EU are going to have a number of significant obstacles to get over in order to complete an agreement between the two of them.