Prime Minister Carney strengthens trade and security partnerships with European nations

In a more dangerous and divided world, Canada’s new government is building our strength at home and diversifying our relationships with like-minded partners abroad. Bound by a shared history and common values, Canada and Europe are natural partners. By working more closely together, we can create greater stability, security, and prosperity for all.

Today, the Prime Minister, Mark Carney, concluded his first official visit to Armenia. He attended the 8^th European Political Community Summit in Yerevan, marking the first time a non-European leader joined the Summit.

At the Summit, Prime Minister Carney held bilateral meetings with the leaders of Armenia, France, Italy, Poland, Spain, Ukraine, the European Council, the European Commission, and the European Parliament. During these meetings, the Prime Minister positioned Canada as a premier destination for global capital and investment – including in critical minerals, energy, defence, and advanced technologies. These efforts will attract new investment into Canadian companies and projects, unlocking new opportunities for Canadian workers and businesses.

The meetings also focused on reinforcing collective security and transatlantic defence readiness, and advancing support for Ukraine. To that end, Prime Minister Carney announced Canada’s new contribution of approximately $270 million (US$200 million) toward critical military capabilities sourced from the NATO Prioritised Ukraine Requirements List (PURL).

Over the past year, Canada and Europe have become ever closer – building stronger partnerships across trade, energy, and security. Last year, we forged the ambitious New European Union (EU)-Canada Strategic Partnership of the Future and the Security and Defence Partnership. In February, Canada became the first non-European country to join the EU’s Security Action for Europe (SAFE) initiative – unlocking billions of dollars in opportunities and market access for Canadian defence industries, businesses, and workers. Together, Canada and Europe are building on this momentum to unlock the full potential of this partnership.

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“As Canada works to diversify our international relationships, we look first to our longstanding European partners and allies. We share the history, values, and ambition to build a better, more just future. In a more dangerous and divided world, a stronger partnership between Canada and Europe will create more stability, more security, and more prosperity on both sides of the Atlantic.”

Quick facts

This was Prime Minister Carney’s first official visit to Armenia since taking office. It was also the first official visit to Armenia by a Canadian Prime Minister in nearly a decade.
Prime Minister Carney’s attendance at this summit builds on several actions over the past year to strengthen and expand Canada’s relationship with Europe, including:
The EU is Canada’s second‑largest global trading partner for goods and services, with a total value of $178.6 billion in 2025.
The EU is Canada’s second‑largest global source of foreign direct investment (FDI), after the United States. EU FDI stock in Canada was estimated at $218.8 billion in 2025, while Canadian direct investment in the EU totalled $297 billion.
In 2025, Canada’s merchandise exports to Armenia totalled $25.3 million and merchandise imports from Armenia reached $12.8 million.
Canada is building a trading network that is the envy of the world, with preferential access to 1.5 billion consumers across 16 free trade agreements, 51 countries, and roughly two thirds of global GDP.
Canada is AAA-rated, has the lowest net debt-to-GDP ratio in the G7, and ranks number one in the G7 for banking stability and number two globally for foreign direct investment confidence.
Canada has the lowest marginal effective tax rate on new business investments in the G7.