Minister Champagne strengthens trade and defence ties with key European partners
Press Release
The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today concluded a successful European visit to France, the United Kingdom, and Germany during which he reinforced Canada’s commitment to shared economic prosperity, resilient supply chains, and stronger transatlantic collaboration.
Minister Champagne's engagements underscored Canada's position as a vital partner in trade, security, innovation, and defence. Budget 2025 sets out a clear plan to catalyze more than $500 billion in new private-sector investment over the next five years, strengthening Canada's advantage in these areas while also leveraging strategic opportunities in Europe and deepening trade relations.
In Paris, the Minister participated in the launch of the Haut-Conseil des Affaires Canada–France, using the platform to promote bilateral business opportunities between Canada and France. At the Conference of Paris, which aims to nurture global relationships and international trade between Europe and the Americas, his speech underlined the long-standing Canada-Europe ties and highlighted new areas for collaboration in strategic sectors such as clean energy, critical minerals, innovation, and resilient supply chains. During a lunch with the French Defence industry, he also highlighted the recent announcement by ChapsVision, a European company specialized in data processing and artificial intelligence (AI) software, to establish its North American base of operations in Montreal. This decision could create up to 100 high-quality jobs in Canada over the next three years.
In London, Minister Champagne visited the White City Innovation District with the Right Honourable Rachel Reeves, the United Kingdom Chancellor of the Exchequer, to meet with stakeholders who are deepening the economic partnerships between Canada and the United Kingdom.
Minister Champagne also delivered the keynote address at the Volkswagen Group Connect in Berlin, Germany where he talked about the key pillars to make transformation possible at a moment of profound global transition. He highlighted the importance of strong partnerships, including the Volkswagen–Canada collaboration, underscored by Volkswagen’s landmark investment in St. Thomas, Ontario, which is helping anchor Canada’s role in the global electric vehicle supply chain.
The Minister also held key roundtable events in London and Paris with investors in Government of Canada bonds and Canada’s Primary Dealers. These meetings allowed the Minister to emphasize the economic strength that underpins the case for investing in Canadian government debt and the government’s forward-looking policy agenda.
In addition to meeting with various officials, strategic partners and business leaders, Minister Champagne participated in a series of bilateral meetings. He met with Roland Lescure, French Minister of Economy, Finance, and Industrial, Energy, and Digital Sovereignty; Sébastien Martin, French Minister Delegate of Industry; the Right Honourable Rachel Reeves, the United Kingdom Chancellor of the Exchequer; and Lars Klingbeil, Federal Minister of Finance of Germany. The Minister also met with Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD).
Quotes
“Canada and Europe share a profound relationship based on our shared values, a long history of close cooperation, and deep people-to-people connections. As we navigate challenging and uncertain times, we seize this opportunity to strengthen our ties even further in strategic sectors, creating enduring benefits for partners on both sides of the Atlantic.”
The Honourable François-Philippe Champagne, Minister of Finance and National Revenue
Quick facts
This visit builds on a new era in the Canada-Europe partnership, from the announcement of the Strategic Partnership of the Future and the Security and Defence Partnership in June 2025 by Prime Minister Carney, to the launch of a new industrial policy dialogue in July 2025 – deepening cooperation on security, resilience, and clean growth.
The Conference of Paris encourages leaders to share their knowledge and understanding of global economic, social and environmental issues as a way to collaborate and collectively overcome these challenges.
The EU is Canada’s second-largest global trading partner for goods and services, and second-largest partner for two-way direct investment, after the United States. Trade relations are governed by the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which addresses or eliminates barriers in virtually all sectors of the bilateral trade relationship.
Canada and the EU also work closely on a wide range of issues, including foreign policy, international peace and security, climate change and environment, health, and development cooperation.