Today I met with Canada's Minister of Finance and National Revenue, the Honourable François‑Philippe Champagne, to advance our shared commitment to boosting economic resilience, productivity and prosperity.
Canada and Australia have a lot at stake and a lot to gain as middle powers in an increasingly complex and volatile global economic environment, and there are big opportunities from closer collaboration.
Our discussion focused on global economic challenges and shared priorities, including the impact of global conflict and uncertainty, the importance of boosting resilience, promoting open trade and encouraging two‑way investment.
Leaders agreed to establish an Economic Security and Prosperity Ministerial between respective Economic Ministers, and Minister Champagne and I look forward to championing this important initiative over the years ahead.
This initiative will include a focus on better regulatory alignment between our economies, easier two‑way investment, and further cooperation on critical minerals.
Leaders also agreed to prioritise the modernisation of the Australia-Canada Tax Treaty to support investment, including for our superannuation and pension funds.
Updating the treaty will help support joint investments in major projects and ensure the agreement, which was last updated in 2002, reflects modern tax policy settings and international standards.
Australia and Canada will work together to make our economies more resilient and more productive, and seize the opportunities of a world undergoing transformational shifts and technological change.
