The European Union and Canada announce the creation of an alliance

Canada and the European Union have announced the creation of a strategic alliance "to build a common space of economic security and prosperity."

The alliance was formed as a response to geopolitical tensions, the fragmentation of the global economy, as well as the struggle for resources and global rivalry in the field of high technologies, according to the countries' joint statement.

Canadian Prime Minister Mark Carney said that Ottawa is seeking the deepest possible partnership with Brussels. He stated that Canada will nevertheless become the first "associate member" of the European Union, despite the fact that Germany, France, Belgium, Italy and at least four more EU countries had previously opposed the idea of granting it such a status. Mr. Carney noted that he and his European colleagues will in the coming months determine the scope and framework of this "new form" of membership in the European Union, Reuters reports.

In a joint statement published following the summit, the leaders of Canada and the EU declared their "unwavering commitment to effective multilateral cooperation, democracy and the international order." The document states that Canada and the EU will work on resolving the conflicts in Ukraine and the Middle East, as well as on strengthening security ties in other regions, including the Arctic.

The statement notes that the parties have concluded negotiations on a digital trade agreement that will supplement the existing trade agreement between Canada and the EU. According to government statistics, trade with the EU accounts for about 9% of Canada's trade turnover.