It is important to keep this in mind during your deliberations. At this conference, as elsewhere around the world, some of the best minds in the industry are articulating a vision for the future of the industry. A vision of removal of protectionist policies. A vision that would see the international industry evolving away from the bilateral agreements that have laid the foundation for international air services over the past half-century. I can appreciate the attractiveness of this approach.
Trade liberalization makes good sense from a commercial perspective.
Unfettered competition among airlines for international service makes sense from the perspective of international airlines. And consumers, while welcoming the effects of competition on fares, want assurance that someone is watching out for their safety and their travel needs. In our deliberations today and tomorrow, we must make sure we take everyone's concerns and all the important issues into consideration. The key is balance. In Canada, as elsewhere, public policy makers are very aware of the need to strike a balance between globalization and national sovereignty.