Anand says joining SAFE defence borrowing pact will help Canadian firms compete
The European Parliament on Wednesday approved Canada’s participation in the Security Action for Europe (SAFE) defence procurement program, making Canada the only non-European country to join the C$240 billion initiative. The agreement, part of the EU’s broader ReArm Europe strategy to reduce dependence on U.S. military support, will allow Canadian companies to compete alongside European firms for defence contracts and access low-interest financing for joint military projects. Foreign Affairs Minister Anita Anand called the move a major opportunity for Canadian industry, while experts said the focus now shifts to ensuring Canadian firms actively participate in European defence procurement efforts.
