ISTANBUL
Canada announced Monday that it agreed to participate in the European Union's Security Action for Europe (SAFE) initiative related to defense procurement.
"As Canada’s new government rebuilds, rearms and reinvests in the Canadian Armed Forces, we are focused on providing the women and men in uniform with the equipment they need, when they need it," Canadian Prime Minister Mark Carney's office said Monday.
"As part of this mission, Canada signed a Security and Defense Partnership with the European Union earlier this year and launched negotiations toward Canada’s participation in Security Action for Europe (SAFE), a key pillar of the EU’s Readiness 2030 plan,” it added.
"Today, the Prime Minister, Mark Carney, announced the conclusion of negotiations for Canada’s participation in SAFE – unlocking billions of dollars in potential defense opportunities for Canadian businesses"
SAFE, adopted by EU leaders in May 2025, will provide competitively priced, long-term loans to accelerate urgent defense procurement.
It forms part of the European Commission's ReArm Europe Plan/Readiness 2030, which aims to unlock over €800 billion ($928 billion) in defense spending across the EU.
While the loans will be available only to EU member states, Ukraine and European Economic Area (EEA) and European Free Trade Association (EFTA) countries will also be eligible to participate in joint procurement under the scheme.
Carney said in the statement that Canada and the EU are elevating their defense partnership in a dangerous and divided world.
"Canada’s participation in SAFE will fill key capability gaps, expand markets for Canadian suppliers, and attract European defense investment into Canada," he added.