Canada courts deeper ties with Australia as two nations look to diversify beyond U.S.

Summary

• Over 160 business & political leaders gathered in Vancouver for the 10th Australia Canada Economic Leadership Forum to strengthen bilateral ties.
• Prime Minister Mark Carney described Australia as Canada's strategic cousin amidst a geopolitical realignment following U.S. President Donald Trump's return to the White House.
• Canadian AI & Digital Innovation Minister Evan Solomon emphasized the need for resilient partnerships with trusted allies like Australia in sectors including mining, AI, & technology.
• Canada purchased a $2.5-billion over-the-horizon radar system from Australia in 2025, marking the largest defense export in Australian history.
• Cumulative investments between the two nations exceed $240 billion, driven by cross-border flows in energy, critical infrastructure, & pension funds.
• Canada & Australia signed a historic investment pact in March 2026 linking Canada Pension Plan Investments with major Australian super-annuation funds for infrastructure & real estate.
• Forum chair Mark Romoff stated that current geopolitical conditions create a unique, time-sensitive opportunity for deepening economic cooperation.