Carney, Luxembourg PM discuss defence financing, trade, and global security
Canada, Luxembourg defence cooperation expands through new trade and security initiatives
OTTAWA — Prime Minister Mark Carney held talks Monday with Luxembourg Prime Minister Luc Frieden, focusing on expanding bilateral trade, advancing defence cooperation, and addressing ongoing global security challenges.
The conversation builds on Prime Minister Frieden’s visit to Canada earlier this year and reflects growing ties between the two countries across key sectors including technology, commerce, and defence.
Expanding trade in aerospace and satellite technology
Both leaders highlighted opportunities to strengthen trade and investment, particularly in aerospace and satellite communications—areas where Canada and Luxembourg share complementary strengths.
Officials say enhanced collaboration in these sectors could drive innovation, support high-value industries, and create new economic opportunities for businesses in both countries.
Canada and Luxembourg have a growing bilateral partnership across trade, commerce, technology, and defence.
Prime Minister @LucFrieden and I spoke today about deepening our partnership in areas like satellite communications and establishing the Defence, Security, and…
— Mark Carney (@MarkJCarney) April 20, 2026
Defence, Security, and Resilience Bank advances
A key focus of the discussion was progress on establishing the Defence, Security, and Resilience Bank (DSR Bank), a proposed multilateral institution designed to mobilize private capital to scale defence industries.
The initiative aims to:
- Provide long-term, low-cost financing
- Accelerate defence production capacity
- Strengthen collective security among partner nations
Prime Minister Carney thanked Prime Minister Frieden for Luxembourg’s role in advancing the initiative, which is expected to support Canadian industries and workers.
Global security: Ukraine and the Middle East
The leaders also addressed ongoing international conflicts, emphasizing the importance of achieving a lasting peace in Ukraine and the need for de-escalation in the Middle East.
Both sides reiterated the importance of diplomatic engagement and coordinated international efforts to maintain stability in key regions.
Strengthening bilateral ties
The call reflects a broader effort by Canada to deepen partnerships with like-minded nations, particularly in areas tied to economic resilience and security.
Prime Ministers Carney and Frieden agreed to remain in close contact as discussions continue on trade, defence cooperation, and global security priorities.
Source: Prime Minister’s Office (pm.gc.ca)
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