Ottawa is rolling out the red carpet for the world's biggest investors, casting Canada as a stable, resource-rich destination in a period of deep geopolitical and economic uncertainty. The Canada Investment Summit, the largest in the country's history, brings together executives controlling more than C$120 trillion (€74.7tn) in assets, including representatives from Bank of America, Berkshire Hathaway, and major Gulf sovereign funds, alongside Nigerian industrialist Aliko Dangote.
Prime Minister Mark Carney has framed the gathering as a chance to sell a country that is both mineral-rich and energy-abundant, and that is actively seeking to diversify its trade relationships away from the United States. The summit comes as Washington prepares to impose further tariffs on Canadian goods, deepening a trade dispute that has already disrupted cross-border commerce.
Trust as the new currency
Finance Minister François-Philippe Champagne told AFP that Canada's pitch is not about comparing itself to others, but about offering something increasingly rare: reliability. "The most sought-after commodity today is trust," he said. "Canada is more and more seen as a trusted partner in a very uncertain world."
Champagne acknowledged that Canada has long been criticised by investors for slow project approvals and bureaucratic hurdles, but insisted that the government has heard the message. "We understand now that speed and skill are what's needed to seize this golden opportunity," he said, adding simply: "The world has changed."
The minister pointed to Canada's vast reserves of critical minerals, which he described as "the fuel of the 21st century," as well as its abundant energy resources. These assets, he argued, position Canada to benefit from the global shift towards cleaner technologies and supply-chain resilience.
Europe at the centre of Canada's realignment
The summit is taking place against a backdrop of deteriorating relations with Washington, and Carney is using the moment to strengthen ties with Europe. After the summit, he will travel to Strasbourg to address the European Parliament, continuing a push that began with his speech at the World Economic Forum in January, where he called on middle powers to unite against what he termed "superpower aggression."
Champagne said the Canada-EU alliance would deepen this week, with new agreements expected. The European Union has already been exploring closer cooperation with Canada, including possible associate membership in the bloc's research and innovation programmes. The two sides have also been coordinating on issues ranging from critical minerals to technology regulation.
Carney's outreach to Europe is part of a broader strategy to reduce Canada's dependence on the US market. The prime minister has been vocal about the need for Canada to diversify its trade partners, and the EU is seen as a natural ally. "We have the critical minerals to power the growth," Champagne said, noting that Europe's green transition will require vast amounts of these resources.
The summit also comes as Canada and the EU are working to finalise a series of bilateral agreements, including on expanded air links and investment facilitation. These moves are designed to make it easier for European companies to do business in Canada, and vice versa.
Despite the tensions with Washington, American investors are still attending the summit, a sign that Canada's appeal extends beyond its immediate neighbourhood. Champagne declined to characterise Canada as a hedge against a more protectionist US, saying: "I don't compare with others. Capital will go where it finds the opportunities."
But the timing is telling. The White House is expected to impose new tariffs this month, and the trade war has already led to retaliatory tariffs from Canada on US goods. The summit is an opportunity for Canada to position itself as a stable, rules-based alternative in a world where trade barriers are rising.
For European investors, the message is clear: Canada is open for business, and it is looking across the Atlantic. As Champagne put it, "the world has changed," and Canada is adapting to that new reality.
