Minister Champagne concludes consequential European trip, strengthens security and trade ties with key allies

News release

September 20, 2025 - Copenhagen, Denmark - Department of Finance Canada

As Canada and the European Union mark the 8th anniversary of the Comprehensive Economic and Trade Agreement (CETA), the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today concluded a consequential and productive trip to Copenhagen, Denmark, where he participated in the meeting of European Union (EU) Economy and Finance Ministers (ECOFIN).

Invited by Denmark, which currently holds the EU Council Presidency, Minister Champagne joined counterparts from the United Kingdom, Norway, Ukraine, and EU member states in participating in the ECOFIN meeting.

Minister Champagne engaged in various international priorities with his European counterparts, including the economic effects of geopolitics, and reforms to strengthen productivity and economic resilience. Top of the agenda was the need to establish closer defence and security ties amid changing geopolitics and trade patterns. He also participated in a pivotal roundtable on Arctic security with local interlocutors, where he highlighted Canada and Denmark’s leading roles in a region of growing geopolitical significance and change.

On the margins of the meeting, Minister Champagne held key bilateral discussions, including with his counterparts from the European Union, France, the United Kingdom, the Netherlands, Denmark, Poland, Italy, Germany and Ukraine. The Minister also underlined the potential for deeper bilateral collaboration between Canada and Denmark on issues such as renewable energy and sustainable infrastructure.

This visit also builds on a new era in Canada-Europe partnership, from the launch of the Strategic Partnership of the Future and the Security and Defence Partnership in June to a new industrial policy dialogue in July – deepening cooperation on security, resilience, and clean growth.

Quotes

“Canada and Europe are bound by deep historical ties that have shaped our shared values and vision for a stable and prosperous future. This trip was about turning that vision into action, focusing on strengthening this relationship through deeper economic cooperation to build resilience and create greater prosperity on both sides of the Atlantic.”

- The Honourable François-Philippe Champagne, Minister of Finance and National Revenue

Quick facts

ECOFIN is responsible for negotiating and adopting legislative acts related to the European Union’s economic policy, taxation issues, and the regulation of financial issues. It also prepares and adopts, together with the European Parliament, the EU annual budget.
The EU is Canada’s second-largest global trading partner for goods and services, and second-largest partner for two-way direct investment, after the United States. Trade relations are governed by the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which addresses or eliminates barriers in virtually all sectors of the bilateral trade.
Canada and the EU also work closely on a wide range of issues, including foreign policy, international peace and security, climate change and environment, health, and development cooperation.

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Contacts

Media may contact:

John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
john.fragos@fin.gc.ca

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries

Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca

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2025-09-20