Good evening.
Just before I take your questions, I’ll just say a few words about what’s been going on this week. Another busy week. A good week for Canada. And I will say just few words about what we’ve been building.
We’ve been building defence capabilities at home, building trust and partnerships with our allies, and building new opportunities here in Saudi Arabia.
On Monday, in Halifax, we announced the largest defence procurement in Canadian history, and we’re now beginning the process of negotiating up to 12 state-of-the-art submarines from Thyssenkrupp Marine Systems.
This is historic, not just for the new capability that we’re going to deliver to Canadian submariners, but also for the speed, ambition, efficiency, and impact of the procurement process.
We received, reviewed, and selected bids in less than a year – five years ahead of the original schedule – and that’s an important change to process. It’s the Defence Industrial Strategy in action.
On Monday, we chose our own way of generating the sovereign capability we will need to defend our coastlines, our Arctic, and our population.
At this moment, we are facing real-world threats. Canada is ready to defend its interests, its citizens, and its allies, who will confront those threats.
We are rapidly building up our capabilities by making historic investments in new submarines, a new Over-the-Horizon Radar system, icebreakers, aircraft, and cyber-defence capabilities.
The generational investments we are making in the Canadian Armed Forces meant that, on Tuesday, for the first time in nearly 40 years, Canada arrived at a NATO Summit with our defence, investments, and capacity on a clear upward trajectory.
We have already hit NATO’s 2% target, and we’re on a clear path to 5% by 2035, which is the NATO objective.
We arrived in Ankara as a stronger, more capable member of the Alliance. At the NATO Summit, I met with President Erdoğan, where we agreed to launch negotiations on a new free trade agreement with Türkiye – a trade agreement that can unlock billions in trade between our two countries.
We signed new defence contracts that will grow our industrial base and jobs at home in Canada. We agreed to open negotiations to join the NATO Innovation Sub-Fund and announced that Canada will host the NATO 2027 Industry Forum, a sign of our ambition in building jobs and growth here at home.
As we build our strength at home, we’re also deploying it abroad. In Ankara, we announced that Canada will extend Operation REASSURANCE, the Canadian-led brigade in Latvia, to 2031.
It’s our largest overseas mission and we’re increasing it, deploying more personnel for a total ground presence of about 2,600.
That’s Canadian soldiers joined by 15 other nations of the NATO Alliance. Canada will now stand as the third Framework Nation of NATO’s Multinational Division North alongside Latvia and Denmark, taking even greater responsibility for NATO’s eastern flank.
Flowing from the work we started in Montréal this past spring, we garnered new support for the Defence, Security and Resilience Bank. This institution, led by Canada and based in Canada, will mobilise private capital for our collective security.
In Ankara, eight of our Allies and partners agreed to support the Bank, which will help us establish it more quickly and increase its potential influence.
Furthermore, we remain steadfast in our commitment to Ukraine. We have allocated new funds for ammunition, air defence, armoured vehicles, and essential equipment. This is part of the general support that we have been providing and that has made Canada one of Ukraine’s key partners ever since this terrible war began.
I also held a series of bilateral meetings including with the NATO Secretary General and with leaders from over a dozen countries. So, through new investments, deeper industrial and defence partnerships, strengthened support for Ukraine, and an expanded role in reinforcing NATO’s eastern flank, Canada is delivering on our commitments and helping to build a stronger and more secure NATO.
Here, today, in Jeddah, we are building partnerships with Saudi Arabia, harnessing the ambition of our nations to catalyse greater security, prosperity, and opportunity for both our peoples.
Canadian and Saudi businesses have signed 13 new commercial agreements across education, critical minerals and mining, energy, infrastructure, security, artificial intelligence (AI).
In education, agreements to train workers in some of Saudi Arabia’s most dynamic industries, building the skills that will power its next decade of growth.
In critical minerals and mining, new Canadian engineering partnerships are working on some of the most ambitious mining projects here, unlocking over $2 trillion of mineral wealth.
In energy and infrastructure, Canadian expertise is supporting roads, rails, and urban development across Saudi Arabia, along with clean building technologies that help it build sustainably.
And in defence and security, new training partnerships support Saudi Arabia’s efforts to build domestic aviation and defence industry capabilities.
In artificial intelligence, Canadian AI and health technology partnerships are helping to transform patient monitoring, diagnostics, and surgical care.
We’re aiming to conclude negotiations with Saudi Arabia for a Foreign Investment Promotion and Protection Agreement by the first quarter of next year.
Canada’s Minister of Finance, who is here, intends to lead a delegation of Canadian pension funds – representing $2 trillion in capital – to visit Saudi Arabia in the coming months, to identify new investment opportunities.
And Saudi Arabia’s Public Investment Fund will visit Canada in the fall, attending our Canada Investment Summit, where we will showcase some of our transformative projects.
Canada is also announcing that we will participate in Expo 2030, here in Saudi Arabia, bringing Canadian projects and expertise, and showcasing the best of Canada at what will be a landmark event.
I would like to thank His Royal Highness, the Crown Prince and Prime Minister of Saudi Arabia, for his hospitality and for our rich discussions this afternoon.
Canada and Saudi Arabia have growing cooperation across key sectors, some of which I’ve referenced.
But I also want to recognise Saudi Arabia’s broader efforts to promote regional stability and security.
So, in four days, across three countries, we’ve worked to build our strength, to build trust with our allies, and to build a new partnership with the world.
In this time of uncertainty, we’re choosing to act. We’re choosing to build Canada strong.
Thank you.