Key facts
- EU and Canada agreed to a new partnership framework.
- The partnership aims to secure critical minerals and bolster defense cooperation.
- Canada will be the EU's first 'associate member' in this new alliance.
- A framework agreement was signed to open the European Investment Bank's lending to Canadian critical minerals.
- Both sides will study the feasibility of exporting Canadian LNG to Europe.
Canadian Prime Minister Mark Carney and European officials concluded a summit in Montreal, forging a new partnership aimed at bolstering economic security and reducing reliance on China. The agreement focuses on critical minerals, defense cooperation, and technology.
Carney embraced the term 'associate membership' for the alliance, setting a six-month deadline to firm up the ground rules. A framework agreement was signed between the European Investment Bank and Canada to support investments in Canadian critical minerals, crucial for future technologies.
Both sides also committed to a long-term feasibility study on exporting Canadian liquefied natural gas to Europe. The summit's final communiqué avoided naming specific countries, but Canadian Defense Minister David McGuinty criticized China's global acquisition of critical minerals.