Canada and China strengthen cooperation - Carney: New strategic partnership promises "historic" benefits
Canada and China are forging a new strategic partnership that promises "historic" benefits by leveraging each other's strengths, Canadian Prime Minister Mark Carney told Chinese leader Xi Jinping.
The first Canadian prime minister to visit China since 2017, Carney was on a mission to rebuild ties with Canada's second-largest trading partner after the United States, after months of diplomatic efforts to resolve previous tensions.
"It is important to begin this new strategic partnership at a time of division," Carney told Xi, calling for a focus on areas that could bring "historic gains" for both sides, such as agriculture, agri-food, energy and finance.
"Here I believe we can make immediate and sustainable progress," he added.
Canada is seeking to strengthen ties with the world's second-largest economy after US President Donald Trump imposed tariffs on some of its goods and suggested the early US ally could become the country's 51st state.
China, similarly hit by Trump's tariffs since he returned to the White House last year, is also keen to cooperate with a Group of Seven country in a traditional US sphere of influence.
"I look forward to continuing to work with you, with a sense of responsibility to history, our peoples and the world, to further improve China-Canada relations," Xi told Carney.
Analysts say the rapprochement could reshape the political and economic context in which the Sino-American rivalry plays out, although Ottawa is not expected to dramatically distance itself from Washington.
Despite the prospects for partnership, several economic and trade issues remain to be resolved. In 2024, former Prime Minister Justin Trudeau's government imposed tariffs on Chinese electric vehicles, following similar US sanctions.
At the time, Trudeau justified the tariffs on the grounds of unfair advantages in the global market secured by Chinese manufacturers thanks to state subsidies, a scenario that could harm the Canadian automotive industry.
China retaliated last March with tariffs on more than $2.6 billion worth of Canadian agricultural and food products, such as canola oil and meal, followed by tariffs on canola seed in August, leading to a 10.4% decline in Chinese imports of Canadian goods by 2025.
German economy grows for first time since 2022 - The revival is good news for the eurozone as a whole
Europe's largest economy showed signs of recovery last year after almost a decade of stagnation, but falling exports, fierce competition from China and......
Britain, economic growth exceeds expectations - The pound experienced a slight increase in value against the dollar
Britain's economy grew more strongly than expected in November, boosted by Jaguar Land Rover's return to full production after a cyberattack hit the......
108 billion USD in natural disaster payouts - Global insurance companies paid less last year
Global insured losses from natural disasters fell to $108 billion last year, Munich Re said in a report. That compares with an inflation-adjusted $147......
AAPSK publishes updated catalogs of seized and confiscated assets for 2025
The Agency for the Administration of Sequestered and Confiscated Assets (AAPSK) has published on its official website the updated versions for 2025 of the......
"Fiscal Peace" is published in the Official Gazette, the benefit for businesses starts in 15 days
The 7 laws of the Fiscal Package, including the so-called "Fiscal Peace" law, were published in the Official Gazette today. The laws enter into force in 15......
The Government approves the Macroeconomic and Fiscal Framework for the period 2027-2029
The Council of Ministers approved at today's meeting the Macroeconomic and Fiscal Framework for the period 2027-2029. The document defines the strategic......
Decision, Government appoints the Director General of the National Environmental Agency
At today's meeting, the Council of Ministers decided to appoint Marjeta Përlala as Director General of the National Environmental......
Balluku: Albania and the UN towards the new cooperation framework 2027–2031
Deputy Prime Minister and Minister of Infrastructure and Energy, Belinda Balluku, participated today in the meeting of the Joint Executive Committee between......
