The leaders of the European Union and Canada have signed a landmark Security and Defence Partnership to strengthen Canada’s contribution to Europe’s defence architecture.
At the 20th EU-Canada Summit, the EU and Canada agreed to deepen their cooperation and partnership. President of the EU Council António Costa said the European Union-Canada Security and Defence Partnership “is a reflection of our mutual commitment to peace, transatlantic security, and deeper cooperation in building defence capabilities. It opens new opportunities for companies on both sides of the Atlantic. While NATO remains the cornerstone of our collective defence, this Partnership will allow us to strengthen our preparedness faster and better – to invest more, and to invest smarter.”
The leaders agreed to swiftly launch talks on a new bilateral agreement for Canada to access SAFE, Europe’s joint arms procurement initiative. This would allow to channel investments in innovative defence projects.
The EU and Canada discussed the success of the comprehensive economic and trade agreement (CETA). Since its provisional entry into force in 2017, CETA has sustained a 71% surge in trade between the EU and Canada, enriching the EU’s gross domestic product (GDP) by €3.2 billion and Canada’s by €1.3 billion annually. CETA illustrates the power of open and fair trade for shared prosperity.
The leaders agreed to step up their cooperation on critical raw materials to strengthen their secure supply chains. They also agreed to initiate a dialogue on industrial policy to explore more business cooperation in key areas like clean technology. On digital, they acknowledge that there is a lot of potential for digital cooperation, so they agreed to work towards a Digital Trade Agreement, to align standards and infrastructure, and to cooperate in cybersecurity, artificial intelligence, and quantum.
