Canada and the European Union (EU) have launched an “Alliance for the Future”, announcing more than 20 measures and further negotiations.
The partnership is intended to create what their joint statement described as “a common prosperity and economic security space”.
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Canada is set to become the EU’s first Associate Member, with the arrangement’s substance, scale and scope to be determined in the coming months.
Substantive negotiations on a Digital Trade Agreement, which will complement Canada–European Union Comprehensive Economic and Trade Agreement (CETA) by setting a framework for digital trade, easing cross-border data flows and streamlining online transactions, have been concluded.
Negotiations on a second-generation competition agreement also concluded.
Canada joined the European High-Performance Computing Joint Undertaking, giving Canadian researchers, innovators and businesses access to JUPITER, Europe’s first exascale supercomputer.
Negotiations will start on Canada’s participation in the next Horizon Europe programme and on expanding its Erasmus+ participation.
The sides also plan to support work towards linking instant payment systems and launch a joint working group exploring further market opening for banks, insurers and fintech companies.
The leaders announced Canada’s second SAFE contract, worth more than $44m, under which Montréal-based Galvion will provide military helmets to Latvia, and up to $2.5bn in financing for Alberta-based De Havilland to expand waterbomber production capacity.
Canada signed a treaty framework with the European Investment Bank, allowing it to invest in Canadian critical minerals projects, and the sides launched work towards a raw materials stockpiling and investment framework.
They will also assess the viability of increased liquefied natural gas (LNG) exports, including a joint long-term feasibility study on exports to Europe.
In 2025, the EU was Canada’s second-largest global trading partner for goods and services, with total trade of about C$178bn (US$127.40bn).
Canada Prime Minister Mark Carney said: “Our Alliance with the European Union is built on shared history, common values, and mutual respect. They are the foundation on which we move ever closer together to give our citizens more choice, more opportunity, and a more affordable future.”
