Prime Minister Carney secures new economic, security, and talent partnerships with Luxembourg

CANADA, September 2 - The Prime Minister, Mark Carney, welcomed the Prime Minister of Luxembourg, Luc Frieden, to Ottawa, Ontario, from February 7 to 9, 2026. As a major financial hub, a NATO Ally, and one of the largest sources of foreign direct investment in Canada, Luxembourg is a key partner for Canada.

Building on over 80 years of close diplomatic relations and a growing relationship across trade, commerce, and defence, Prime Minister Carney and Prime Minister Frieden underlined a series of new partnerships between Canada and Luxembourg.

First, the leaders announced the launch of the 2026 Canada-Luxembourg Financial Sector Policy Dialogue, which will bring together finance officials to advance collaboration on financial stability, sustainable finance, fintech innovation, and capital markets development.

Second, Prime Minister Carney and Prime Minister Frieden welcomed the establishment of the McGill Luxembourg Centre for Finance and McGill’s Master of Management in Finance program. With McGill’s global academic leadership and Luxembourg’s position as a leading financial centre, these programs will strengthen cutting-edge academic and research collaboration, expand student and talent exchanges, and equip Canadian students with new opportunities across the financial sector.

Third, the leaders committed to expanding bilateral trade and investment, including in sectors such as advanced manufacturing, infrastructure, aerospace, space, and related technologies.

The prime ministers reiterated their enduring support for Ukraine against Russian aggression, and agreed on the imperative of achieving a just and lasting peace, backed by robust security guarantees. They emphasised mobilising capital and strengthening defence supply chains in support of our collective security, including in the Arctic, noting ongoing discussions on the establishment of the Defence, Security and Resilience Bank (DSR Bank). They discussed the importance of the DSR Bank and agreed to deepen cooperation to fill an important gap: multi-year, low-cost financing for defence, security, and resilience initiatives. The DSR Bank would allow the commercial sector to work more closely with the defence sector to support Canadian workers and businesses.

As a reflection of the close ties between Canada and Luxembourg, Prime Minister Carney invited His Royal Highness Guillaume, Grand Duke of Luxembourg, to visit Canada in the near future.

In an increasingly dangerous and divided world, Canada’s new government is focused on what we can control. We are building our strength at home and strengthening our relationships with reliable partners abroad. 

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“The relationship between Canada and Luxembourg is strong and growing. We’re focused on working more closely together, across finance, defence, and education, to create more opportunities for our businesses, workers, and citizens.”

The Rt. Hon. Mark Carney, Prime Minister of Canada

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