Canada and European Union Launch Alliance for the Future to Strengthen Economic Partnership

Canada and the European Union launched the Canada-EU Alliance for the Future to strengthen their economic partnership, covering growth, economic security, digital trade, critical raw materials, energy and defence. The announcement came at the conclusion of a two-day summit in Montreal that ended on Friday.

Canadian Prime Minister Mark Carney said he expected negotiations with the European Union on a new relationship that would make Canada the bloc’s first “associate member” to conclude next June. “We are working to establish the deepest possible partnership short of accession,” he said.

However, the joint statement issued at the conclusion of the summit made no reference to “associate membership,” although its drafts had included at least two references to the term. Germany and other EU member states oppose its use because it has no recognised legal meaning. The leaders instead agreed to define a concept for a closer relationship between the two sides by their next summit in 2027.

Carney stressed that the alliance aims to strengthen sovereignty and is not directed against any country. He added that it would help Canada and Europe withstand economic pressures and make decisions independently.

European Council President António Costa said the two sides are seeking to establish an unprecedented relationship within the framework of the EU’s partnerships with non-member countries, extending beyond a traditional partnership and encompassing “everything short of full membership in the European Union.” European Commission President Ursula von der Leyen said there was broad support for bringing Canada closer to the EU despite disagreement over how the relationship should be described. “What unites us goes far beyond geography; we see the world through the same eyes,” she said.

During the summit, the two sides concluded negotiations on a Digital Trade Agreement that complements their existing free trade agreement, as well as a second-generation Competition Agreement. They also agreed to conduct a feasibility study on exporting Canadian liquefied natural gas to Europe, examine the construction of subsea cables linking Canada with Europe and Asia, and work towards connecting their instant payment systems to facilitate cross-border transfers.

Canada and the EU also agreed to strengthen cooperation in defence, cybersecurity, Arctic security and countering foreign interference. Canada announced its intention to join the European Union’s EUR 90 billion Ukraine Support Loan.

The closer relationship comes as Canada and Europe seek to reduce their dependence on the United States amid trade tensions with the administration of US President Donald Trump. Trump suggested that granting Canada “associate member” status in the European Union could be considered a “hostile act” and threatened to impose tariffs on the bloc.

Source: QNA

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