Canada and the European Union launched an “Alliance for the Future” in Montréal on October 30, finished talks on a digital-trade agreement and signed a framework that lets the European Investment Bank consider financing Canadian critical-mineral projects.
At the 21st Canada-EU summit, Prime Minister Mark Carney joined European Council President António Costa and European Commission President Ursula von der Leyen. They announced closer cooperation aimed at strengthening economic ties and supply chains. The alliance covers trade, digital and research technologies, critical resources and energy, financial cooperation, security and ties between people.
The digital-trade agreement is meant to add to the existing Canada-EU trade deal, CETA, with clearer rules for online business and data moving across borders. Negotiations have ended. Both sides must still complete their procedures before formal signature and final approval.
Separately, the investment framework lets the EIB consider loans, guarantees, investments that give it a share in a project, and advice for Canadian projects. It does not guarantee funding for any particular mine. Critical minerals are expected to be an early focus, including projects that take minerals from the ground, process and refine them, and recycle them.
Europe and Canada are seeking supply chains better able to cope with problems.