EU-Canada Summit 2023 – Joint Statement

This article is brought to you in association with the European Commission.

I. Building a more prosperous, secure, and sustainable future

1. We, the leaders of Canada and the European Union (EU), met today in St. John’s, Newfoundland and Labrador to reaffirm our strategic partnership, advance our cooperation to seize the opportunities of our time and respond to pressing challenges. In a more complex, competitive and unpredictable world, working together to promote our shared values of human rights, democracy, the rule of law and the rules based international order and to pursue our common interests is more important than ever. We stand firmly together in the pursuit of peace, stability and prosperity in the world including in Ukraine and the Middle East.

2. Our steadily deepening partnership makes us stronger and more resilient, delivering clear benefits to our people by generating sustainable economic growth and creating jobs. Cooperation between Canada and the EU can help make life more affordable and create good jobs – on both sides of the Atlantic. Our common values and principles are why we are positioned to grow circular, nature positive and climate-neutral economies across Canada and Europe that are competitive, inclusive and provide equal opportunities for all, and why we are able to work together to fight the triple crises of climate change, biodiversity loss and pollution, and to protect people from its worst impacts. We are putting people first as we do this – making sure households are better off as we build a prosperous climate neutral economy.

3. We emphasize the fundamental role that the Strategic Partnership Agreement (SPA) and the Canada-EU Comprehensive Economic and Trade Agreement (CETA) have played in strengthening our relationship in the seven years since they were signed, remain strongly committed to ensuring their full and effective implementation and their ratification, and commit to further expanding our cooperation under these agreements.

4. Today we are pleased to announce significant new areas of cooperation. The establishment of a Green Alliance will deepen our already close cooperation on climate action and shared work to grow sustainable, competitive economies with good jobs. A Digital Partnership will strengthen our engagement on digital transformation and governance in a rapidly changing world. Substantive negotiations of an agreement on Canada’s participation in the EU’s Horizon Europe programme are now completed and both sides are working towards its prompt signature and implementation. The agreement will further strengthen the cooperation of our science communities in addressing global challenges.

II. Global Priorities

5. Our support to Ukraine is steadfast. We share an unequivocal condemnation of Russia’s ongoing war of aggression and our unwavering commitment to Ukraine including a just and sustainable peace based on international law, Ukraine’s sovereignty and territorial integrity within its internationally recognised borders. We will continue our intensified diplomatic outreach efforts and cooperation with Ukraine and other countries to ensure the widest possible international support for a comprehensive, just and lasting peace and the key principles and objectives of Ukraine’s Peace Formula, with a view to a Global Peace Summit being held. We will stand with Ukraine for as long as it takes, will work to address Ukraine’s immediate military and defence needs and ensure Ukraine has the long-term security commitments needed, while it pursues its Euro-Atlantic integration. We will do so in full respect of the security and defence policy of certain EU Member States and taking into account the security and defence interests of all EU Member States, the EU and Canada.  We will work together to support Ukraine’s sustainable security, will continue providing military, humanitarian, economic and financial support, and facilitate trade, private investment, and will prioritize recovery and reconstruction. We welcome the informal coordination between Canada and the EU’s training missions, Operations UNIFIER and EU Military Assistance Mission (EUMAM), conducting critical training of the Ukrainian military. Canada and the EU alongside other G7 Members, will continue to work through the Multi-agency Donor Coordination Platform on ensuring a robust response to Ukraine’s reconstruction needs. To further strengthen this collaboration, Canada intends to deploy a secondee to the Platform’s Secretariat in the near future. We acknowledge Ukraine’s commitment and substantial efforts to meet the required conditions in its EU accession process. We encourage Ukraine to continue on its path of reforms. We will continue to work together to support Ukraine’s security, defence and resilience on one hand, and reconstruction and reforms on the other, thus creating conditions to mobilise private investment. The EU and Canada will continue cooperating to deliver concrete solutions in support of Ukraine’s agriculture and agri-food sector which could include facilitating exports of grain and agricultural products from Ukraine to third countries including those most in need. We reaffirm our support for the Republic of Moldova’s territorial integrity and sovereignty. We will continue to support Moldova in addressing the challenges it faces as a consequence of the Russian aggression against Ukraine and in reform efforts on its European path.

6. Russia must cease its aggression and must bear the legal consequences of all its internationally wrongful acts, including compensation for the damage caused to Ukraine. We are united in our determination to ensure full accountability. The EU and Canada call for work to continue, including in the Core Group, on efforts to establish a tribunal for the prosecution of the crime of aggression against Ukraine that would enjoy the broadest cross-regional support and legitimacy, and towards the establishment of a future compensation mechanism. Canada and the EU recognise that decisive progress is needed, in coordination with partners, on how any extraordinary revenues held by private entities stemming directly from Russia’s immobilised assets could be directed to support Ukraine and its recovery and reconstruction, consistent with applicable contractual obligations, and in accordance with EU and international law.

7. We recognize the value and the growing importance of our cooperation on restrictive measures. In particular, we will continue to impose extensive sanctions targeting Russia, as well as stringent export control restrictions and prohibitions. Moreover, we are committed to further strengthening our cooperation and coordination on broader sanctions actions, including disrupting circumvention, in support of our policy objectives.

8. We unequivocally condemn Hamas for its brutal and indiscriminate terrorist attacks across Israel on October 7. We support Israel’s right to defend itself, in accordance with international law and international humanitarian law. We reiterate our call for the immediate and unconditional release of all hostages and welcome the recent agreement to liberate hostages and to allow for an extended humanitarian pause to permit the delivery of essential supplies. We underscore that Hamas does not represent the Palestinian people or their legitimate aspirations.

9. We are gravely concerned about the deepening humanitarian crisis in Gaza, and welcome the adoption of resolution 2712 by the United Nations (UN) Security Council, which calls for urgent and extended humanitarian pauses and corridors throughout the Gaza Strip.  We reaffirm the imperative to protect civilians and ensure full compliance with international law, including international humanitarian law. We strongly reiterate the importance of urgent and unimpeded access for life saving humanitarian aid flowing to Gaza through all necessary measures, including humanitarian corridors and pauses. We have contributed significant funding for humanitarian assistance and remain committed to addressing urgent humanitarian needs.

10. We remain committed to the goal of comprehensive, just, and lasting peace in the Middle East, and re-iterate our belief in the renewed importance of progress towards a two-state solution on the basis of the relevant UN Security Council Resolutions through reinvigorated efforts in the peace process. We stand ready to contribute to reviving a political process on the basis of the two-state solution, with the State of Israel and an independent, democratic, contiguous, sovereign, and viable Palestinian State, living side-by-side in peace and security and mutual recognition. We remain opposed to any forced displacement of Palestinians. We condemn all forms of intolerance and discrimination, on the basis of religion, belief or origin and remain firmly committed to combatting all forms of hatred.

11. We express deep concerns with Iran’s nuclear escalation and its refusal to meaningfully cooperate with the International Atomic Energy Agency and its persistent failure to implement JCPOA commitments. We wholly support the IAEA’s mission of continued verification and monitoring in Iran. A diplomatic solution to the Iranian nuclear issue remains the best way to address international concerns. We reiterate our clear determination that Iran must never develop or acquire a nuclear weapon.

12. We are prepared to build constructive and stable relations with China, including through cooperation on global issues such as climate change, biodiversity loss, debt sustainability, global health and pandemic preparedness. China is an important trade and economic partner and we will seek to ensure a level playing field and a balanced, reciprocal and mutually beneficial trade and economic relationship. We will continue to reduce critical dependencies and vulnerabilities, including in its supply chains, and will de-risk and diversify where necessary and appropriate. We do not intend to decouple or to turn inwards. The East and South China Seas are of strategic importance for regional and global prosperity and security. We remain seriously concerned about growing tensions in the Taiwan Strait. We strongly oppose any unilateral attempts to change the status quo by force or coercion. We underscore the importance of peace and stability across the Taiwan Strait, and encourage the peaceful resolution of cross-Strait issues. There is no change in Canada’s or the EU’s One China policy. We will keep voicing our concerns about the human rights and forced labor in China, including in Tibet and Xinjiang. With respect to Hong Kong, we call on China to honor its previous commitments under the Sino-British Joint Declaration and the Basic Law.

13. We recognize the critical challenges faced by our countries and by our global partners, from climate impacts and food insecurity to ensuring a just transition, good governance, rule of law, security, sovereignty and territorial integrity. We will work together with partners from around the world to address these challenges, including in the Indo-Pacific, Africa and Latin America and the Caribbean. Consistent with our respective Indo-Pacific strategies, we will seek opportunities to enhance practical cooperation in the Indo-Pacific. In the Pacific Islands, we will reinforce our support, including to advance their priorities in accordance with the Pacific Islands Forum’s 2050 Strategy for the Blue Pacific Continent. We reiterate our support for international law, in particular as reflected in the United Nations Convention on the Law of the Sea (UNCLOS), and for the peaceful settlement of disputes in accordance with international law, including under UNCLOS dispute settlement mechanisms. We agree on the importance of a peaceful, sustainable and prosperous Arctic.

14. We reaffirm our commitment to coordinate our actions in the Sahel region, alongside international and regional organizations. We support L‘Académie Internationale de Lutte Contre le Terrorisme in Côte d’Ivoire in responding to evolving terrorist threats and violent extremism. We will work together in supporting the people of Haiti in their efforts to build a more resilient and equitable future, including by fighting impunity and corruption, restoring security and stability and creating the necessary conditions for holding democratic elections.

III. Sustainable economic growth for all

15. The Canada-EU economic relationship, underpinned by CETA, has contributed to delivering prosperity for our economies during a period of global uncertainty. Now in the seventh year of provisional application, CETA’s benefits to workers, exporters and our economies are clear: in 2022, bilateral trade in goods was significantly higher to pre-CETA levels in 2016. Through a single set of high standard rules, businesses and workers in Canada and the EU are benefitting from a more predictable, transparent and accessible business environment. Canada and the EU will continue to use the mechanisms established by CETA to cooperate towards building resilient and diversified supply chains. We will continue work to ensure the full implementation of CETA, and to sustainably strengthen Canada-EU trade, including for small and medium-sized enterprises and women entrepreneurs. Canada and the EU acknowledge the important role CETA can play in driving sustainable development and moving towards a climate neutral economy. We welcome related investments and will work together for transparency and against zero-sum competition in our path toward climate neutrality.

16. Canada and the EU intend to focus on the negotiations toward a renewed competition cooperation agreement that would drive deeper cooperation and coordination possibilities between our respective competition agencies, providing a legal framework to coordinate enforcement activities and share information obtained through investigative powers in full respect of data privacy guarantees.

17. Canada is well-positioned to contribute to Europe’s energy security and energy transition. The Canada-EU High Level Energy Dialogue will continue facilitating action on all energy-related matters, including proceeding with the EU becoming a member of the Equal by 30 Campaign, led by Canada, which is working towards equal pay, equal leadership and equal opportunities for women in the energy sector by 2030 and launching a new European Commission – Canada Roadmap on Methane Emissions. We are laying the foundation for reliable hydrogen supply chains and common approaches to standards and certification, which will accelerate commercialization and increase transatlantic trade.

18. To secure reliable and sustainable supply chains and competitive economic growth, Canada and the EU continue to advance shared work on critical minerals, including through the Canada-EU Strategic Partnership on Raw Materials. Critical minerals are essential for the transition towards climate-neutrality of our economies, and we will continue to support integrated, secure and diversified supply chain development, science, technology and innovation cooperation, and enhance global environmental, social and governance criteria and standards. This will include joint efforts to engage and connect our respective businesses to accelerate two-way trade and investment that can help develop new supply sources for critical minerals. Canada and the EU agree that secure and sustainable supply of critical raw materials enabling the green and digital transition is emerging as a shared challenge for the global community and will continue discussing how participation in the EU-proposed Critical Raw Materials Club would complement and strengthen ongoing initiatives to jointly address that challenge.

19. Economic security is a growing concern for governments around the world, and cooperation with partners and engagement with stakeholders will assist with better policy-making. To support this, Canada and the EU will launch a Canada-EU dialogue on economic security to exchange information on trends and risks of mutual concern which could affect our economic security and developments with regards to possible policy responses.  

IV. Combatting climate change, biodiversity loss and pollution

20. With today’s establishment of a Canada-EU Green Alliance, Canada and the EU continue to deepen our partnership on fighting climate change, protecting the environment and ocean, halting and reversing biodiversity loss and growing a strong, prosperous future. Recognising the key role of both Canada and the EU in leading global efforts to address the triple planetary crises of climate change, biodiversity loss and pollution, and to foster a circular nature-positive and global climate neutral economy by 2050, the Alliance is a testament to the depth and breadth of our shared ambition. Building on our extensive existing cooperation, the Alliance aims to take our partnership to the next level by further intensifying our political, technical, economic and scientific cooperation on climate action, environmental and ocean protection, energy transition, green industrial transformation, regulatory and business cooperation, research and innovation, climate finance, sustainable finance and biodiversity finance and cooperation at the multilateral level and supporting the climate-neutral transitions of third countries.

21. Recent natural disasters and extreme weather events have devastated communities in Canada and Europe alike. Canada is grateful for the support provided through the EU’s Civil Protection Mechanism during the most significant forest fire season on record in Canada. We welcome the signature of an administrative arrangement to improve the sharing of information and best practices on how to respond to emergencies. Canada is pleased to facilitate the export of Canadian-built fire-fighting aircraft to bolster the EU’s and Member States’ fleets.

22. We recognize that even more ambitious action is required to mitigate and build resilience to climate change, underpinned by an unwavering commitment to achieving net-zero emissions by 2050 and ensuring a credible path to limit global warming to 1.5 degrees Celsius. At the upcoming 28^th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), we will work together to promote decisive global action to tackle the climate crisis and to set the direction for future global climate efforts on the basis of the Global Stock Take recommendations. We will work together to accelerate the global phase-out of unabated fossil fuels no later than 2050 and end the construction of new coal-fired power generation in a manner consistent with the goal of limiting the global average temperature increase to 1.5 degrees Celsius above pre-industrial levels. Recognizing the importance of increasing energy efficiency and the deployment of renewable energy, we will work towards the full and effective implementation of the Global Energy Pledge to collectively double the rate of energy efficiency improvements every year to 2030 and to triple the world’s installed renewable energy capacity by 2030 to 11 Terawatts, while respecting each country’s national energy mix. We will also work to support the most vulnerable countries, including by delivering on climate finance commitments, calling on contributors to raise their ambition, and establishing funding arrangements on loss and damage. We will continue to convene the Ministerial on Climate Action with China, and will continue to lead global action on short-lived climate pollutants, including methane, under the Global Methane Pledge, the Global Methane Initiative, the International Methane Emissions Observatory and the Climate and Clean Air Coalition.

23. We will lead the way to mobilise partners around the world for the signature, ratification and effective implementation of the High Seas Treaty and for the swift and full implementation of the historic Kunming-Montréal Global Biodiversity Framework (KMGBF), agreed to in Montreal. To this end, we will work together to develop ambitious nature-positive policies, mainstreaming biodiversity into all sectors. We share the objective to prevent global deforestation, and we intend to work together and with others to halt and reverse forest loss and land degradation by 2030, including as they relate to global supply chains, while delivering sustainable development and promoting an inclusive rural transformation. We will also cooperate towards substantially and progressively increasing the mobilisation of financial resources to support international biodiversity objectives, in line with the goals and the targets of the KMGBF.

24.We recognize that carbon pricing is one of the most efficient and cost-effective ways to reduce greenhouse gas emissions and to spur related investment and   innovation in the interest of the people’s health and well-being. In that regard, Canada and the EU reaffirm their support for the Call to Action for Paris Aligned Carbon Markets, launched at the Paris Summit for a New Global Financing Pact. Canada welcomes the EU as the most recent Partner to join the Global Carbon Pricing Challenge to expand the use of carbon pricing globally by strengthening existing systems and supporting emerging ones. Canada and the EU commit to continue exchanges on their carbon pricing systems and working closely on measures to address carbon leakage risks in a non-discriminatory manner including on next steps for cooperation on the EU Carbon Border Adjustment Mechanism (CBAM). We will also address emissions intensity of the steel and aluminium manufacturing industries and advance manufacturing, re-manufacturing and recycling of steel and aluminium, both at home and abroad, and will continue cooperating closely in bilateral and multilateral fora.

25. We are committed to ending plastic pollution by 2040 and will work together, including through the Intergovernmental Negotiating Committee and High Ambition Coalition to End Plastic Pollution, to develop a dedicated ambitious and effective international legally binding instrument.

26. Through the Canada-EU Ocean Partnership, we are increasing cooperation on ocean governance, conservation, science, and sustainable use. In this context, we welcome the first Ocean Partnership Forum that took place in October 2022, and look forward to the next Forum planned for 2025. We will work together to achieve an ambitious Our Ocean Conference in Greece in 2024 and UN Ocean Conference in Nice in 2025.

V. Research and innovation cooperation and responsible digital innovation

27. We reaffirm our support for collaborative partnerships between our science research communities. Today, we are pleased to announce the completion of substantive negotiations on Canada’s association to Pillar II of Horizon Europe, which once signed and implemented will provide new opportunities for international science partnerships on global challenges.

28. As strategic partners in emerging technologies and cutting-edge research, we will contribute solutions to global challenges and provide new economic opportunities. We are launching the Canada-EU Digital Partnership, which will allow us to deepen our engagement on areas such as artificial intelligence (AI), online platform governance and accountability, and quantum technologies, secure international connectivity and cyber security, digital skills and digital credentials and digital identities.

29. Canada and the EU share an interest in fostering safer, more inclusive digital environments. To this end, the Canada-EU Digital Partnership will be an important forum to collaborate on efforts to advance the accountability of online platforms such as social media and online marketplaces – in a way that enhances the respect for all human rights online. We are committed to holding online platforms accountable to mitigate the negative effects of content on their services on systemic societal risks, including gender-based violence, notably by giving their users tools and resources to protect themselves, and by mandating significantly more transparency for our societies over online content moderation.

30.Canada and the EU have a longstanding collaboration in advancing responsible design, development and use of AI, including through key multilateral forums like the G7, through the Hiroshima AI Process, and the Global Partnership on AI, where both are founding members. Canada and the EU are also among the most advanced jurisdictions in the world regarding the regulation of AI technologies. We are committed to working together on the global governance of digital and other emerging technologies, like AI, rooted in a risk-based approach, the protection of safety and respect for human rights and the rules-based international order, supported by appropriate accountability mechanisms. In support of this, we will collaborate to ensure applicable regulatory measures. As we continue our respective work on AI governance and regulatory frameworks, we commit to work collaboratively with relevant stakeholders to share information and strive for solutions to facilitate the interoperability of our domestic approaches, helping to ensure AI actors in Canada and Europe have the greatest possible access to international markets to advance the safe, secure and trustworthy commercialization of this technology.

31. We aim to build a more secure cyberspace together. To this end, we will cooperate to promote high cybersecurity standards levels to protect consumers and business and decrease vulnerability to cyber incidents. We will also strengthen collaboration in upholding international norms of responsible state behaviour in cyber space, notably through the UN with the establishment of a Program of Action for cybersecurity and joint diplomatic responses to counter malicious behaviour. We will also seek opportunities to enhance cooperation and coordination on cyber capacity building efforts and exchange information on regulatory measures.

32. Further to the G7 Action Plan for Building a Secure and Resilient Digital Infrastructure, Canada and the EU intend to support secure international connectivity and explore possible new routes of international communication infrastructure to strengthen network resilience.

33. We recognize the transformative role of digital technologies in enhancing economic growth and sustainability, and the need to ensure that they respect human rights and democracy. We aim to ensure Data Free Flow with Trust (DFFT) in compliance with relevant rules in the respective jurisdictions, including data protection rules. We also welcome the EU – Canada close cooperation on the EU’s adequacy decision to ensure its continuity.

VI. Advancing international peace and security

34. We welcome increased Canada-EU cooperation on security and defence, including the upcoming administrative arrangement which confirms Canada’s participation in the EU’s Permanent Structured Cooperation Project on network of logistics hubs. We will seek to further deepen our cooperation through enhancing our security and defence dialogue, identifying opportunities for joint naval activities and strengthened collaboration on cyber security and the climate–security nexus. We reaffirm the importance of further strengthening and deepening the mutually reinforcing and beneficial EU-NATO partnership, while fully respecting the principles of inclusiveness, reciprocity, transparency and decision-making autonomy. We will advance the implementation of the Women, Peace and Security Agenda and meaningful participation of women and youth in prevention, mediation and resolution, in peacekeeping, peacebuilding and post-conflict reconstruction.

35. In support of our joint efforts in combatting terrorism and serious transnational crime, we welcome the finalisation of the negotiations that pave the way for the conclusion of a new Canada-EU Passenger Name Record (PNR) Data Agreement. This Agreement will provide a solid basis for the transfer and use of PNR data and ensure the capacity to effectively and efficiently prevent and fight terrorism and serious transnational crime while upholding privacy protections and protecting human rights.

VII. Promoting Shared Values and the Rules-Based International Order

36. Democracy, human rights, gender equality and the rule of law remain universal principles that guide international action for both Canada and the EU. We are concerned with the ongoing backlash against gender equality and the rights of women, girls and LGBTI persons, including increased incidents of gender-based violence, including gender-based violence that is amplified by the use of technology. We will continue to call for respect for the rights of all women and girls, not only in Afghanistan and Iran, but around the world. We reaffirm our commitment to take concerted and collective action against arbitrary detention and to work closely to anchor its principles in the international legal and normative framework as well as to promote the biennial UN General Assembly Resolution on the moratorium on the use of the death penalty. In 2023, Canadian observers have participated in EU election observation missions in Guatemala, Liberia, Maldives, Paraguay, Sierra Leone and Zimbabwe, and Canada will continue to work alongside the EU in electoral observation and the support of democratic principles and values.

37. We will continue to strengthen our collaboration to counter foreign threats to democracy, including through platforms like the G7 Rapid Response Mechanism. We will continue to work together to protect information integrity – grounded in inclusion, human rights and the rule of law – with the objective of defending against and increasing citizen and societal resilience to information manipulation and disinformation both online and offline, including through working on the development of international norms and principles, such as those in the Global Declaration on Information Integrity Online. We call on all foreign actors to cease and to refrain from interference activities, aimed at undermining the security and safety of our communities, the integrity of our democratic institutions and processes and our economic prosperity. We will continue to work together on digital justice, and, in this context, welcome the first EU-Canada informal senior-level dialogue on justice issues, held in May 2022.

38. The EU and Canada will make resolute efforts to uphold the rules-based international order with the UN at its core. We will strive for a well-functioning, reformed multilateral system, with an effective and sustainably funded UN. We will endeavour to work towards an effective, inclusive and networked multilateral system that is capable of facing new global realities and remain true to the rules and principles of the UN Charter. We are committed to working together with all partners to reinforce and reform global governance in line with ‘Our Common Agenda’. We are determined to seize the opportunities represented by the 2024 Summit of the Future and the 2025 World Social Summit to develop a system that is resilient and as relevant today as when it was created.

39. We are committed to cooperate to reform the WTO so that it is better equipped to tackle modern day imperatives. We will work towards substantial WTO reform by MC13 in 2024, including with respect to having a fully and well functioning dispute settlement system.

40. Canada and the EU agree to explore the possibility of establishing a new dialogue on humanitarian issues under the SPA. We will work to address priorities of the global community, including the 2030 Agenda for Sustainable Development and the achievement of its Sustainable Development Goals (SDGs) – both at home and abroad, including mobilising finances to close the SDG financing gap. In particular, we will also focus on delivering better, bigger and more effective Multilateral Development Banks (MDBs) by enhancing operating models, improving responsiveness and accessibility and substantially increasing financing capacity to maximize development impact. We will also sustain our support to the necessary reforms to the multilateral system and its development banks, and financing for global public goods such as climate, biodiversity or pandemic prevention, while preserving the focus on poverty eradication and shared prosperity, in line with the SDGs. We will also seek to prevent fragmentation through the transformation of the governance of the international financial architecture to make it more effective, transparent and accountable. We will contribute to strengthening global health security to better prevent, prepare and respond to current and future health emergencies, including by jointly promoting shared priorities for the successful conclusion of the negotiation of an effective, ambitious and legally binding new pandemic agreement, and the targeted amendments to the International Health Regulations, by May 2024. We also support the Pandemic Fund. We welcome plans for the first Canada-EU Health Policy Dialogue under the SPA, scheduled for early 2024. Global hunger has been rising since 2015 and has been intensified by rising food and energy insecurity. We stand ready to continue contributing to the global fertilizers production and value chains in order to ensure food security, decreasing dependency on Russian and Belarusian production.

41. We have also agreed to deepen our partnership in support of high-quality global infrastructure development, in line with the Partnership for Global Infrastructure Investment and EU Global Gateway initiative’s common objectives.

42. We recognize the importance of sustainable, resilient and quality infrastructure throughout the world. We are committed to working together towards the joint G7 aim of mobilizing $600 billion in financing through the Partnership for Global Infrastructure and Investment, including the EU Global Gateway initiative. Under these initiatives, we welcome our collaboration in support of the Just Energy Transition Partnerships with South Africa, Indonesia, Vietnam, and Senegal, including under the Great Green Wall initiative. We will continue our close cooperation on the Kiwa Initiative, a multi-donor program that aims to strengthen climate change resilience in the Pacific Islands through nature-based solutions. FinDev Canada will continue to partner with EU-based development finance institutions to advance sustainable infrastructure solutions in support of positive development, climate and nature outcomes.

VIII. Conclusion

43. Canada and the EU are committed to addressing today’s global challenges, including economic uncertainty, climate change, biodiversity loss, digital transformation, natural disasters and regional instabilities. Canada and the EU will be guided by our common commitment to democratic values, the rule of law, human rights, sustainability and an inclusive, multilateral, and rules-based international system. We will continue to work together in safeguarding our shared values, addressing common challenges, embracing the new opportunities of a rapidly changing world and strengthening the dynamic EU-Canada people-to-people contacts.