Canada to Join EU Defence Spending Initiative

Canada has agreed to participate in the European Union’s Security Action for Europe (SAFE) initiative, providing Canadian defence companies with greater access to the European market, Prime Minister Mark Carney’s office said on Monday.

“Canada’s participation in SAFE will fill key capability gaps, expand markets for Canadian suppliers, and attract European defence investment into Canada,” Carney said in a statement.

SAFE, a 150-billion-euro fund announced earlier this year, is part of a broader effort to strengthen the EU’s defence capabilities by 2030 amid concerns about potential threats from Russia and uncertainties regarding U.S. security guarantees.