Canada and EU launched the Alliance for the Future.
Ottawa agreed to contribute to a €90 billion Ukraine loan.
Both sides plan closer trade and security cooperation.
The European Union and Canada have announced a new partnership of “ever-closer association” aimed at bringing like-minded countries together to address shared challenges.
Canadian Prime Minister Mark Carney and European Commission President Ursula von der Leyen announced the partnership, named the Alliance for the Future, at a press briefing in Montreal on Friday.
They said the “deepest possible partnership between Canada and the 27-member bloc had the potential to offer unprecedented stability and opportunity”.
Carney said the world was facing several major challenges, including the climate crisis, the “erosion of democratic norms” and “the weaponization of trade”. “Our societies have been shaken by new storms,” he told reporters.
The two-day summit ended with Canada agreeing to contribute to a €90 billion loan to support Ukraine. Leaders also outlined plans to build a more integrated market worth tens of billions of dollars. The proposals include easing trade and travel restrictions and creating more educational opportunities for people on both sides.
Carney’s push to find new international partners comes as a trade dispute with the United States puts pressure on Canada. The country’s dependence on American companies, particularly in the defence sector, has also raised concerns in Ottawa.
These concerns grew after Elon Musk restricted the speeds of Starlink and Starshield over Ukraine in mid-October last week, disrupting Ukrainian military and defence operations.
Carney has repeatedly warned that Canada should not leave its defence technology dependent on the decisions of companies or political figures whose interests may differ from its own.
Musk, who holds Canadian and US citizenship, has criticised Canada's governing Liberal Party and supported the separation of some provinces.
Both Parties Released Joint Statement
In a joint statement issued at the end of the summit, Canadian and EU leaders reaffirmed their “unwavering commitment to effective multilateralism, democracy and to the rules-based international order."
The two sides also pledged to work together to address conflicts in Ukraine and the Middle East. They agreed to strengthen security cooperation in other regions, including the Arctic.
The statement further announced the conclusion of negotiations on a digital trade agreement. The new deal will add to the existing trade agreement between Canada and the European Union.
Carney said he had accepted an invitation from the European Council president to attend meetings in Europe next June. He added that the two sides would finalise discussions on their closer partnership during the visit.
