Germany's Klingbeil says Canada 'ideal' partner amid global tensions
08.05.2026, DPA
Photo: Soeren Stache/dpa
German Finance Minister Lars Klingbeil called for closer economic cooperation with Canada on Friday, citing growing geopolitical tensions and the economic fallout from the conflict involving Iran.
Speaking during a meeting in Toronto with Canadian Finance Minister François-Philippe Champagne, Klingbeil said Europe needed to reduce strategic dependencies and strengthen its economic resilience and sovereignty.
It is becoming clear that Europe must move away from dependencies and strengthen its resilience and sovereignty, Klingbeil said. "And Canada is an ideal partner for this."
The two-day visit is focused on expanding cooperation in areas including critical raw materials, defence and artificial intelligence.
Klingbeil also sought to encourage greater Canadian investment in Germany, describing the country as an innovative business location made more attractive through reforms and investment incentives.
The two ministers also visited a facility operated by Canadian aircraft manufacturer Bombardier.
Champagne highlighted his recent participation in meetings of EU finance ministers and the Eurogroup, saying closer ties with Europe were intentional and reflected a shared interest in strengthening trans-Atlantic cooperation.
Klingbeil described Canada as a "partner in values."
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