(MENAFN- UkrinForm) This is stated in a joint declaration by Canadian Prime Minister Mark Carney and European Commission President Ursula von der Leyen, Ukrinform reports.

“We welcome the conclusion of the negotiations on an Agreement for the participation of Canadian SAFE. The EU's €150 billion defence investment instrument will ramp up Europe's defence industrial base with joint procurement, in which all participating countries will benefit. In these geopolitically turbulent times, it is a means to increase cooperation, meet defence targets and spend better, as we address short-term urgency and long-term needs,” the statement emphasizes.

It is noted that the conclusion of SAFE negotiations“builds on our commitment to joint defence cooperation” as outlined in the Security and Defense Partnership signed at the successful Canada-EU summit earlier this year.

“This is the next step in our deepening cooperation and symbolic of the shared priorities of the European Union and Canada. Together, we will create resilient defence supply chains between our industries at a crucial time for global security,” the declaration says.

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The parties stress that this cooperation will strengthen their respective industrial bases, create more jobs, boost economic growth, and expand capabilities – all of which are crucial for defense readiness.

“Finally, SAFE will also provide vital support to Ukraine and increase the resiliency of the Ukrainian defence industry. We have stood by Ukraine since the start of Russia's brutal war of aggression and we continue to stand by its side, as we work towards a just and lasting peace for Ukraine,” the Canadian Prime Minister and the European Commission President conclude.

As reported by Ukrinform, in May the European Council approved the SAFE (Security Action for Europe) rearmament credit program through the EU General Affairs Council.

Photo: Unsplash

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