Indeed, building on the trade agreements that we forged  BIS Review 88/2001  1  in the late 1980s and early 1990s, such as the North American Free Trade Agreement (NAFTA), we have significantly increased our involvement with the world economy. Altogether, it is clear that, over the past decade, we in Canada have done a lot to strengthen our economic foundations.
We have made considerable progress in our understanding of the relevant issues and the necessary policy conclusions, as evident from the various initiatives that I mentioned. Financial market infrastructure is in evolution; its improvement remains an ongoing challenge.