Canada in the SAFE system. Historic agreement with the European Union

Canada has completed negotiations on participation in the European SAFE (Security Action for Europe) defense lending system, the press office of Canadian Prime Minister Mark Carney announced on Monday.

“In a dangerous and divided world, Canada and Europe are taking their defense partnership to the next levelto rapidly deliver new equipment and technologies, accelerate NATO goals and open up enormous opportunities for our defense manufacturers. Canada's participation in SAFE will fill key production gaps, expand markets for Canadian suppliers and attract European defense investment to Canada,” Carney said.

Canada and the EU will now complete the ratification process, the goal is official start of Canada's participation in SAFE in the coming weeks.

June 23 this year Canada signed a Defense Partnership Agreement with the European Union and negotiations on Canada's participation in SAFE also began. This system of loans for the rearmament of 27 EU countries, Ukraine and the countries of the European Economic Area has an amount equivalent to 244 billion Canadian dollars, and has now become available also to Canada, the only non-European country that can benefit from SAFE.

During the NATO summit in The Hague in June this year, Prime Minister Carney announced that Canada had committed to investing 5 percent. of its GDP in defenseand this level of spending is to be achieved by 2035. According to the Prime Minister's previous announcements, the level of 2 percent. Canada is expected to reach GDP in defense spending in 2025. The new Canadian government Defense Investment Agency will be responsible for streamlining the signing of contracts.

from Toronto Anna Lach (PAP)

lach / san /