The European Union and Canada have agreed to establish an Alliance for the Future aimed at deepening economic integration, strengthening security and expanding cooperation in strategic sectors, according to a joint declaration issued following the 21st EU-Canada Summit in Montreal.
Report informs that under the document, the two sides intend to create a common area of economic prosperity and security, strengthen supply chain resilience and reduce dependence on external sources of strategic resources and technologies.
Particular attention will be paid to cooperation in critical raw materials, energy, artificial intelligence, semiconductors, quantum technologies, pharmaceuticals and space infrastructure.
In particular, the EU and Canada have agreed to conduct a joint long-term study on the prospects for Canadian liquefied natural gas (LNG) exports to Europe and to encourage European investment in Canadian critical raw materials extraction and processing projects.
In the defence sector, the two sides reaffirmed their intention to accelerate the implementation of the Security and Defence Partnership, expand cooperation in countering hybrid threats, cyberattacks and foreign information manipulation and interference.
The EU and Canada also reaffirmed their commitment to continuing military, financial, economic and humanitarian support for Ukraine and increasing pressure on Russia.
The declaration states that, by the 2027 EU-Canada Summit, the two sides intend to develop a framework for even closer association between Canada and the European Union, without full membership in the bloc.