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  4. Prime Minister Carney deepens cooperation with Nordic countries in defence, Arctic security, and critical minerals
Oslo, Norway

In a more dangerous, divided, and uncertain world, security can no longer be taken for granted. Canada is strengthening its defences in the North and working closely with trusted partners to protect our sovereignty and reinforce collective security.

To bolster Canada’s Arctic security, defence, and economic partnerships, the Prime Minister, Mark Carney, travelled to Bardufoss and Oslo, Norway, this week. In Bardufoss, the Prime Minister observed Exercise Cold Response – a Norwegian-led NATO exercise above the Arctic Circle to enhance the Alliance’s readiness, interoperability, and defence capabilities. Prime Minister Carney was joined by the Prime Minister of Norway, Jonas Gahr Støre, and the Chancellor of Germany, Friedrich Merz.

In Oslo, Prime Minister Carney met with Prime Minister Støre. The two leaders issued a joint statement outlining new ambition to build on the longstanding and close partnership between Canada and Norway, including their shared commitment to NATO, support for Ukraine, cooperation in the Arctic, and new partnerships on energy, critical minerals, trade, emerging technologies such as space communications and security, and artificial intelligence (AI).

While in Norway, Prime Minister Carney attended the Canada-Nordic Summit, where he met with leaders from Denmark, Finland, Iceland, Norway, and Sweden to reinforce efforts to strengthen transatlantic security in the North. In a joint statement, the leaders outlined the deepened partnership between Canada and Nordic nations – in trade, technology, energy, and defence and security.

Norway is home to the world’s largest sovereign wealth fund with a value of over $3.5 trillion. In Oslo, the Prime Minister held meetings with business leaders to position Canada as a premier destination for international capital. As Canada diversifies its trade partnerships, accelerates major nation-building projects, builds out its defence capabilities, and attracts greater investment into its economy, Prime Minister Carney emphasised the opportunities to invest in Canada. Building on this momentum, Canadian company Champion Iron has recently announced that they are moving forward with the acquisition of Norwegian company Rana Gruber ASA, a leading producer of high-grade iron ore in Norway. The proposed transaction is for an estimated equity value of approximately $400 million.

Following the conclusion of his visit, the Prime Minister will visit the United Kingdom to meet with the Prime Minister of the United Kingdom, Sir Keir Starmer, and have an audience with His Majesty King Charles III. The prime ministers will discuss progress underway to deepen Canada and the United Kingdom’s defence, trade, and economic partnerships.

In this period of rapid change, Canada is safeguarding our interests, modernising our defence capabilities, and strengthening partnerships abroad. By working with valued partners like Norway, we are turning shared priorities into concrete action with strength and unprecedented ambition.

Quote

“The Arctic and the High North are central to Canada’s national identity and strategic autonomy. Canada is intensifying our cooperation with trusted Nordic partners to bolster Arctic and transatlantic security, build economic strength at home, and catalyse massive opportunities for Canadian businesses and workers.”

The Rt. Hon. Mark Carney, Prime Minister of Canada

Quick facts

  • This is Prime Minister Carney’s first visit to Norway since taking office and the first visit to Norway by a Canadian Prime Minister since 1980. He was accompanied by the Minister of National Defence, David J. McGuinty, and the Secretary of State (Defence Procurement), Stephen Fuhr.
  • Exercise Cold Response brings together troops from 14 nations, including Norway, the United States, the United Kingdom, Germany, the Netherlands, France, Italy, Canada, Spain, Türkiye, Sweden, Finland, Denmark, and Belgium to train for operations in Arctic and extreme winter conditions.
  • The Nordic 5 countries (Denmark, Finland, Iceland, Norway, and Sweden) have a total GDP of $2.8 trillion.
  • An example of growing defence industrial collaboration between Canada and Norway is a recent $9.6 million contract awarded to the joint venture Kongsberg Vanguard LP – a partnership between Norwegian firms Kongsberg Defence & Aerospace and Salt Ship Design, as well as Ottawa-based Adaptive Marine Solutions Inc. Together, the joint venture will design the Canadian Coast Guard’s future mid-shore multi-mission vessels, which will be built under Canada’s National Shipbuilding Strategy.
  • In his meetings with Nordic partners, Prime Minister Carney underscored that Canada is strengthening its defence industrial base through the $6.6 billion Defence Industrial Strategy, including through the establishment of the Defence Investment Agency, which will accelerate the delivery of new capabilities to the Canadian Armed Forces while strengthening allied defence supply chains that support collective security.
  • Prime Minister Carney also affirmed Canada’s efforts to establish the Defence, Security and Resilience Bank to mobilise financing at scale to increase defence production, foster joint procurement opportunities, and bolster secure and resilient supply chains among NATO Allies and trusted international partners.
  • Canada officially joined the European Union’s Security Action for Europe (SAFE) initiative at the Munich Security Conference in February 2026. SAFE is a key pillar of the EU’s Readiness 2030 plan, and Canada’s participation in SAFE will enhance defence readiness on both sides of the Atlantic.

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