Canada and the EU need to work together because “the world is changing dramatically,” says António Costa, European Council president. / MEANS & WAYS PHOTO
MONTREAL—The Canadian and European relationship is unique, but that doesn't mean abandoning a relationship with the United States, says António Costa, European Council president.
“Canada does not need to neglect or abandon its relationship with the United States,” Costa said Thursday at a Montreal Council on Foreign Relations (CORIM) luncheon on the sidelines of the Canada-EU Summit. “Canada has a long history of maintaining good relations with the United States. And, just as you do, we want to maintain good relations with the United States. The relationship between Canada and Europe is something unique. It is based on shared values, common interests and a common vision of the world.”
Canada and the EU need to work together because “the world is changing dramatically,” he said.
“We must strengthen our digital capabilities and work together to address the difficulties emerging around the world,” he said, pointing to artificial intelligence, new space technologies, digital commerce and the climate transition.
“The defence sector is an area in which we need to strengthen our capabilities,” he said. “Our industries must work together to develop defence equipment and strengthen our shared capabilities. This is important for everyone and for our collective security.”
Costa focused on artificial intelligence as a key issue that needs to be addressed globally, especially when it comes to regulation. He said he's particularly interested in AI’s opportunities in health care and public services, and noted it can improve business competitiveness. He noted, however, that AI’s impacts on society also must be addressed. “But there is another important issue that we must not forget: the economy and its impact on society. We already know that this will create significant challenges for our social model. We must prepare young people for the new world that is emerging,” he said.
Costa also spoke about the need to cooperate on critical minerals and secure value chains. He emphasized breaking down trade barriers and said the EU is moving to a single market in telecommunications, energy and financial services.
“This will be decisive in attracting investment to Europe and improving our investment environment,” he said. “And I want to be very clear about this: our objective is to achieve this by the end of 2027.”
Finance Minister François-Philippe Champagne told media after the luncheon that deepening the trade and economic relationship with the EU is about resilience. He said the unprecedented speed, scope and scale of change in how technology affects security — whether it is food, energy, national, economic — requires cooperation with trusted partners, and that Canada is learning best practices from the EU.
“The actions and alliances that once guaranteed our prosperity and security in the past can no longer be assumed,” Champagne said in opening remarks at the luncheon.
