Canada and the European Union launched the “Alliance for the Future” and completed negotiations on a digital-trade agreement at their Oct. 30 summit in Montreal.
Prime Minister Mark Carney, European Commission President Ursula von der Leyen and European Council President António Costa presented the partnership as a way to strengthen economic security. They also said it would deepen ties between Canada and the bloc. The alliance identifies cooperation in trade, technology, critical resources and energy, financial services, security, and links between people.
Leaders also said they would work toward closer formal ties between Canada and the EU, without EU membership for Canada. They said they would define what those ties cover by their 2027 summit. Digital-trade negotiations began in March and concluded at the summit.
The agreement still needs formal signing and approval procedures. Its proposed rules aim to make cross-border digital business more predictable. They also aim to support trusted data flows.
The rules aim to make electronic contracts, signatures and invoices easier to use. They also aim to protect consumers. Canada says the agreement will preserve its ability to regulate matters such as privacy, cybersecurity and national security.
The agreement is intended to add to the existing Canada-EU trade pact, not replace it.