More than 70 years ago, NATO was founded amid upheaval in the international order. To strengthen our resilience to shocks, to protect our collective territory, and to uphold the enduring truth that we are stronger together.

This NATO summit is similarly taking place at a transformational moment for Canada, for the allies of NATO. The international rules-based system on which the alliance has relied upon is under unprecedented pressure, and the threats that are facing individual member states are evolving. They differ, both in their form and severity. And at the same time, Canada's own relationship with NATO, is appropriately evolving. To put it in a bit of context, for over a century, Canada has been a net exporter of security to Europe. And now, with those evolving threats worldwide, the threats to our own sovereignty are becoming more acute. With increasingly open Arctic waters and rapid advances in cyber and AI and quantum, with advanced missile capacities, we can no longer rely on our geography to protect us. As the global landscape shifts, the collective security created by the alliance remains the strongest and the most effective way of protecting Canadian sovereignty and protecting the security of Canadians.

So, together with our allies, we must ensure that NATO remains strong, unified and ready to confront the threats not just of today, but of tomorrow. And so, in this pursuit, Canada is helping to ensure that the alliance and the peace that it can help protect, prevail. In order to do so, we must invest in our strength, because Canada's leadership must be defined not just by the strength of our values, but by the value of our strength. That's why earlier this month, Minister of Defence, Foreign Affairs, the Chief of the Defence staff and I unveiled Canada's plan to rebuild, rearm and reinvest in the Canadian Armed Forces, to protect, first and foremost, Canadians, to protect our interests, and also to help protect our allies. In doing so, we are reaching NATO's 2% target this year. We've arrived at this summit looking forward with a plan to help lead with new investments, to build our strength. This morning, Canada, or just now, I guess it went into the afternoon, Canada and our allies agreed to a new (defence industrial. There's a new) defence investment pledge, which secures Canada's strategic and security goals.

As part of that, Canada is already beginning working towards a target of 3.5% of GDP by 2035, by expanding our plan to invest in the Canadian Armed Forces, to modernize our military equipment and technology, to help build up our own defence and security industries, as well as to diversify our defence partnerships. We're also working to ensure that we are spending 1.5% of our GDP in defence and security related infrastructure. So, that means ports, airports, infrastructure to support the development and exportation of critical minerals, telecommunications and emergency preparedness systems. These investments serve our defence, as well as protecting the readiness and resilience, to protect Canadians. At the core of our defence investment, of course, are the men and women of the Canadian Armed Forces. And as I speak to you today, Canadian troops are participating in NATO deterrence and defence missions across Central and Eastern Europe, as well as building capacity in the Middle East. As part of Operation Reassurance, Canada is leading a 14-nation strong multinational brigade with over 2,000 Canadian Armed Forces in Latvia. We're working with our allies and partners across Europe to train Ukrainian soldiers, who are defending their homeland from Russia's illegal and barbaric invasion. These are the women and men we are investing in, the forces we will expand with new incentives and new recruitment efforts.

Canada will also strengthen its industrial capacity through a robust strategy and international partnerships. On Monday, at the Canada-EU Summit, we concluded the new EU‑Canada Security and Defence Partnership. This partnership marks the first of two steps leading to Canada's participation in the European Security Initiative and the launch of the ReArm Europe Plan, which will allow us to achieve our objectives quickly and cost-effectively.

Canada does have enormous industrial capacity, but that will grow significantly. As our allies seek to increase their military readiness, they will buy more equipment and technology made in Canada, by Canadian workers, in shipyards, in labs, shop floors right across our country. We’ll make the drones, the icebreakers, the aerospace technologies, and much more that's needed to build a more secure world.

At the G7 Summit, in Kananaskis, I announced new measures to support Ukraine’s long‑term sovereignty and security. We imposed further sanctions on the Russian regime, its shadow fleet, and its energy revenues, as well as on individuals who facilitate and profit from the atrocities committed by the Kremlin.

We are providing Ukraine with $2 billion in additional funding and we are also offering nearly $2.3 billion to help rebuild its infrastructure, public services and civil society.

Canada is helping to ensure, and through our discussions I'm very pleased the discussions and how they evolved, that the new NATO targets at 5% of GDP, those new NATO targets are tailored to address new threats and challenges. And that the capabilities required to meet this moment have been the driving factors for those targets. Importantly, the trajectory and the balance of the new NATO defence pledge will be reviewed in 2029 to ensure that the commitments align with the global security landscape. Throughout Canada's history there have been turning points when the world's fortunes have been in the balance, and each time Canada has chosen to step up, to lead on the path of democracy and freedom. We're once again at one of those moments. If we want the world of tomorrow to be shaped by our values, Canada must be ready. If we want a more secure world, we need a stronger Canada, that works with our allies. And today, it's a very important step to build both.