Canada and South Korea are set to sign a defence agreement today, roughly a month after Prime Minister Mark Carney urged middle powers to band together in the face of “great power” economic coercion.

Following negotiations that concluded in October, the two countries are expected to sign a deal today related to the exchange and protection of classified military and defence information.

In October, Ottawa said the agreement would be a legal base to improve collaboration on everything from defence procurement and industrial security to research.

In a speech at the World Economic Forum in Davos last month, Carney urged middle powers to work together against “American hegemony” and the efforts of great powers to subjugate smaller countries.

The deal also comes as South Korean firm Hanwha Oceans is competing with German submarine manufacturer TKMS for a multi-billion-dollar contract to supply Canada with up to 12 new submarines.

Industry Minister Mélanie Joly also says Canada is looking for industrial benefits beyond just the subs themselves, noting Canada wants to expand manufacturing of vehicles from South Korean, German and Chinese automakers.