Prime Minister Mark Carney and Luxembourg Prime Minister Luc Frieden have announced a series of new partnership initiatives following meetings in Ottawa from February 7 to 9.
The discussions focused on expanding cooperation in finance, education, trade and defence, reflecting the longstanding relationship between the two countries. Luxembourg is considered a significant investor in Canada and an important ally within NATO.
Among the measures announced is the launch of a Canada Luxembourg Financial Sector Policy Dialogue beginning in 2026. The forum is expected to bring together officials to collaborate on issues such as financial stability, sustainable finance, financial technology and capital markets development.
The leaders also welcomed the establishment of the McGill Luxembourg Centre for Finance and a new Master of Management in Finance program. The initiatives are intended to strengthen research collaboration and increase opportunities for student and talent exchanges.
In addition, both governments committed to expanding trade and investment across sectors including advanced manufacturing, infrastructure, aerospace and space related industries.
Security issues were also part of the talks. The prime ministers reiterated support for Ukraine and discussed the need to strengthen defence supply chains. They noted ongoing conversations about the potential creation of a Defence, Security and Resilience Bank aimed at supporting long term financing for related projects.
As part of the visit, Carney extended an invitation for Luxembourg’s Grand Duke to travel to Canada in the future.
(Written by: Joseph Goden)
