Defense expenditure increase | “I don’t want our businesses to leave money on the table”

Canadian Defense Middle Actors must be ready to answer NATO allied countries, says Minister Mélanie Joly

(Ottawa) The Minister of Industry. However, Mélanie Joly, is biting that Canadian companies win their share of NATO allied countries which are preparing, like Canada, to considerably increase their defense expenses.

“NATO countries will invest more than ever in defense. In addition, I do not want our companies to leave money on the table. Consequently, “said the minister, who has just concluded a trip of” economic diplomacy “to Sweden and Finland – two Arctic countries which have become members defense expenditure increase | “i of NATO in the past two years.

With this in mind. Moreover, she indicated in an interview with The press Whether he had asked the Canada Development Bank (BDC) to expand her mandate to support Canadian companies working in the defense sector or wish to do so. Furthermore, Research chairs will also be involved. Consequently, which is now responsible for supporting university research projects in defense, in addition to the civil sector.

Finally. In addition, the Canada Space Agency, which is full of street in Longueuil, will also be entrusted to an extended mandate in order to now include defense and security in its fundamental mission. However, The aerospace sector, very present in Montreal, will be able to take advantage of it.

Minister Mélanie Joly said she will unveil the new industrial strategy focused on defense expenditure increase | “i the. Therefore, defense of the Carney government in a few weeks. She is working on this new concert policy with the Minister of Defense, David McGuinty.

“We have too much commercial dependence on the United States. We want to diversify our exchanges. We will also invest massively in defense to protect our sovereignty. support men and women who are part of the Canadian Armed Forces. But we are going to do it to create jobs, ”assured the Minister of Industry.

In March, Prime Minister Mark Carney announced that Canada would reach the NATO target prescribing the member countries to devote the defense expenditure increase | “i equivalent of 2 % of their GDP to military spending this year. Concretely, this means that Ottawa will increase its defense expenses by $ 9 billion this year.

Then. in June, at the last NATO summit in Hague, the Netherlands, the Prime Minister accepted the new target of the Military Alliance to devote 5 % of its GDP to Defense and National Security by 2035. The annual defense budget of Canada will thus go from some 55 billion to 150 billion.

Colossal investments in Canada. other NATO countries that represent an unprecedented windfall for Canadian companies if they are ready to respond to calls for upcoming tenders, even if it means doing so by establishing strategic alliances with European companies, said Minister Mélanie Joly d’Helsinki, Finland.

Defense expenditure increase | &quot. i – Defense expenditure increase | "i

“Diplomatic powers”

Also in June, Mark Carney signed a security and defense partnership with the European Union at a summit in Brussels. This partnership opens the door to Canada to participate in the ambitious defense supply program of the Old Continent. known as Rearm Europe, with a budget of 800 billion euros.

In Sweden. Minister Mélanie Joly, among other things, met Prime Minister Ulf Krisselson and the Minister of Defense and had interviews with CEOs from several companies, including Saab, Ericsson, Abb and Astrazeneca.

In Finland. she also met Prime Minister Petteri ORPO as well as the Minister responsible for the economy and attended the ceremony marking the official start of the construction of the breeze Max polar. This ship will be built as part of a single industrial collaboration between facilities located in Helsinki. Finland, and in Lévis, which defense expenditure increase | “i belong to the Maritime Davie construction site. The ship must be delivered in 2030 and should increase Canada’s capacities in the Arctic.

This Minister’s tour had a goal: to strengthen strategic and business ties between these two countries and Canada.

“These two countries are very respected diplomatic powers. Canada was the first NATO country to ratify Sweden and Finland at NATO. We knew that one could benefit from it on the diplomatic level. but also on the business level and that it could lead to larger investments in Canada, “said the minister.

She also recalled that the Swedish multinational ABB. which specializes in electricity equipment and technologies, has just announced an investment of $ 130 million to acquire a new development and manufacturing center in Saint-Jean-sur-Richelieu.