Prime Minister Carney builds resilient partnerships and attracts new investments at the World Economic Forum Annual Meeting
As the global economy shifts, Canada’s new government is focused on what we can control: we are diversifying our trade partnerships and attracting massive new investments to build a stronger, more sustainable, more resilient economy.
As part of this mission, the Prime Minister, Mark Carney, participated in the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. The WEF Annual Meeting brings together nearly 3,000 leaders from government, business, academia, and international organisations, representing more than 130 countries.
On January 20, the Prime Minister delivered a special address in which he outlined Canada’s approach of principled and pragmatic engagement. He argued that in an era of great power rivalry, middle powers like Canada are not powerless – that we can shape the outcomes we want by acting together.
In Switzerland, Prime Minister Carney met with the President of France, Emmanuel Macron, the Secretary General of the North Atlantic Treaty Organization (NATO), Mark Rutte, and the Prime Minister of Sweden, Ulf Kristersson, to discuss the changes in global trade and security. He focused on maintaining international support for a strong, independent, and sovereign Ukraine, highlighting recent advancements to achieve a just and lasting peace, and outlined Canada’s roadmap for strengthening existing relationships and building a web of resilient new trade networks.
The Prime Minister reaffirmed the fundamental principles of sovereignty and territorial integrity, and that decisions on the future of Greenland are for Greenland and Denmark to make. In meetings with European leaders, the Prime Minister expressed his strong opposition to tariffs over Greenland, calling for focused talks to achieve the shared objectives of security and prosperity for the Arctic. He outlined ongoing efforts by Canada to increase investments in Arctic defence, security, and infrastructure, and maintained that the most effective way to ensure Arctic security is by working within the NATO Alliance.
At the Annual Meeting, the Prime Minister discussed the Gaza Board of Peace and appreciated President Trump’s leadership in bringing the conflict in Gaza to an end, including through the declaration of Phase Two.
To catalyse massive investment in Canada, the Prime Minister met with business leaders from companies with a combined market capitalisation of approximately $10 trillion – representing immense potential for new investments in Canada’s infrastructure, energy, manufacturing, and defence sectors. He emphasised Canada’s competitive advantages in clean and conventional energy, defence, agriculture, AI, quantum computing, and health technology – and its role as a premier destination for global capital and investment. He underscored Canada’s mission to unleash $1 trillion in investment over the next five years, while building a stronger, more sustainable, and globally competitive economy.
The Prime Minister’s participation at the WEF Annual Meeting builds on his latest engagements in the People’s Republic of China, where he launched a new strategic partnership across energy, agri-food, and financial services, and in Qatar, where he secured a new partnership to expand trade, attract investment, and accelerate bilateral defence cooperation.
In an increasingly uncertain world, Canada’s new government is focused on what we can control. We are leveraging trade, investment, and resilient partnerships that will generate meaningful opportunities at home and build a stronger, more independent Canadian economy.
Quote
“Nostalgia is not a strategy. While the old world is not coming back, from its fracture, Canada can build something better, stronger, and more just. In just five days, we reached a new agreement with China that will unlock $7 billion in export markets, secured a new partnership with Qatar to invest in major projects and deepen trade and defence ties, and engaged with leading global investors to choose Canada. Canada’s new government is building our strength at home and engaging with principle and pragmatism – diversifying our trade and attracting massive new investment – to build Canada strong.”
— The Rt. Hon. Mark Carney, Prime Minister of Canada
Quick facts
- This was Prime Minister Carney’s first participation in the WEF Annual Meeting as Prime Minister.
- The Prime Minister was accompanied at the WEF Annual Meeting by the Minister of Foreign Affairs, Anita Anand, the Minister of Finance and National Revenue, François-Philippe Champagne, the Minister of Industry and Minister responsible for Canada Economic Development for Québec Regions, Mélanie Joly, and the Minister of International Trade, Maninder Sidhu.
- Canada is building a trading network that is the envy of the world, with preferential access to 1.5 billion consumers across 16 free trade agreements, 51 countries, and two thirds of global GDP.
- Canada has secured a dozen international trade and security partnerships on four continents in six months.
- Canada is AAA-rated, has the lowest net debt-to-GDP ratio in the G7, and ranks number one in the G7 for banking stability and number two globally for foreign direct investment (FDI) confidence.
- Canada has the lowest marginal effective tax rate (METR) on new business investments in the G7.
- Together, the first and second tranches of projects referred to the Major Projects Office represent a combined potential investment of more than $116 billion in our economy and will create thousands of well-paying careers for Canadians.
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