Prime Minister Carney and Premiers Advance Economic Transformation Plan at First Ministers’ Meeting

At the First Ministers’ Meeting 2025, leaders advanced Canada’s $1-trillion economic strategy and major project investments.

Ottawa — Prime Minister Mark Carney met virtually with provincial and territorial premiers Monday to advance Canada’s economic transformation strategy, outlining how the federal government intends to shift the country away from reliance on a single trade partner toward a more resilient, diversified economic model.

According to the Prime Minister’s Office, the meeting focused on the core priorities of Budget 2025, which aims to enable $1 trillion in total investment into Canada over the next five years. First Ministers reaffirmed their commitment to working collaboratively on national economic goals.

Major Projects Office Central to $116B Infrastructure Pipeline

Carney highlighted the federal government’s focus on nation-building infrastructure, pointing to progress on major projects referred to the Major Projects Office (MPO). A second tranche of projects was recently added, covering initiatives tied to Canada’s long-term strategic priorities:

• Expanding energy sector capacity

• Developing new trade and economic corridors

• Advancing critical minerals production

• Strengthening national data sovereignty

Combined with the first tranche announced in September, these projects represent more than $116 billion in planned investment and are expected to generate “tens of thousands” of new careers nationwide.

Several provinces, the PMO noted, are already advancing draft cooperation agreements to help streamline major project reviews.

I spoke with Canada’s Premiers today about how Budget 2025 will enable us to build big — more homes, new infrastructure, major nation-building projects.

Working together, we’ll get big things built faster and create more opportunities for our workers and businesses. pic.twitter.com/jlZHNTGRNU

— Mark Carney (@MarkJCarney) November 17, 2025

Housing and Interprovincial Trade Barriers Part of the Discussion

Premiers and the Prime Minister also discussed efforts to support Canada’s housing supply, including exploring ways to standardize building codes across provinces to speed up construction and reduce costs—an item that has been gaining national momentum.

Reducing interprovincial trade barriers remains an ongoing priority, with First Ministers acknowledging that these barriers continue to limit economic productivity and mobility.

International Trade and Security Updates

Carney briefed premiers on recent trade and security discussions with international partners, including the United States. The federal government reiterated its goal of securing trade agreements that strengthen economic stability and protect Canadian workers.

The Prime Minister also pointed to progress from his recent Indo-Pacific trip and announced that he will travel to the United Arab Emirates and later to the G20 Leaders’ Summit to continue building international partnerships.

More First Ministers’ Meetings Planned

The federal and provincial leaders agreed to meet regularly, with the intent to hold the next First Ministers’ Meeting in person in early 2026.

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