CANADA NEWS RELEASE: Minister Champagne Concludes Visit to Brussels to Deepen Economic and Security Partnerships

February 16, 2026

Department of Finance Canada

In a historic first for a Canadian Finance Minister, Minister Champagne participated in a session on global imbalances during a meeting of the Eurogroup. He called for a shared diagnosis among partners, and coordinated policy actions to promote orderly rebalancing and minimize geo-economic risks. The Minister underscored the importance of advancing this work through the G7 and G20, and stressed that Canada and its European partners must work collectively to support a gradual and well-calibrated adjustment process that reinforces global resilience against shifting economic currents.

The Minister also held bilateral meetings with European leaders, including Eurogroup President Kyriakos Pierrakakis, as well as the ministers of Finance and Economy of the European Union (EU), France, Spain, Luxembourg, Romania, Estonia, Netherlands and Poland. During a meeting with Luxembourg’s Minister of Finance, Gilles Roth, the Minister launched the Canada-Luxembourg Financial Sector Policy Dialogue to deepen cooperation on financial stability and regulatory innovation.

In addition, Minister Champagne met with business leaders to discuss financial services opportunities between Canada and Europe and the importance of stable rules-based trade, while promoting Canada as a prime destination for global investment.

While in Brussels, Minister Champagne continued engaging his counterparts on the Defence, Security and Resilience Bank (DSRB)—a new multilateral institution focused on financing defence, security and resilience projects for North Atlantic Treaty Organization (NATO) members and allied nations. The Minister also highlighted how Canada’s world-class industrial base and skilled workforce are uniquely positioned to support the evolving security and technology needs of our transatlantic partners.

Quick facts

• The Eurogroup is an informal body that ensures close coordination of economic policies among the euro area Member States and promotes conditions for stronger economic growth.
• The EU is Canada’s second-largest global trading partner for goods and services, and second-largest partner for two-way direct investment, after the United States.
• This visit builds on a new era in the Canada-Europe partnership, from the launch of the Strategic Partnership of the Future and the Security and Defence Partnership in June 2025, to a new industrial policy dialogue in July 2025 by Prime Minister Mark Carney—deepening cooperation on security, resilience, and clean growth.
• Budget 2025 includes measures to leverage strategic opportunities in Europe and deepen trade relations with European partners by undertaking new trade missions with Canadian businesses and supporting Canadian Chambers of Commerce in Europe, and sets out a clear plan to catalyze more than $500 billion in new private-sector investment over the next five years.

Additional Resources

• Minister Champagne strengthens trade and defence ties with key European partners
• Canada announces new, strengthened partnership with the European Union
• Joint statement: Enduring Partnership, Ambitious Agenda
• Canada and the European Union

Contacts

John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
john.fragos@fin.gc.ca

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000