Canada to join EU's SAFE security initiative
Canada has agreed to join the EU's SAFE initiative (Photo: ElasticComputeFarm/Pixabay)
Canada has reached an agreement to join the European Union's Security Action for Europe (SAFE) security initiative, which will provide Canadian defense companies with expanded access to the European market, Prime Minister Mark Carney's office announced on Dec. 1, according to Reuters.
"Canada’s participation in SAFE will fill key capability gaps, expand markets for Canadian suppliers, and attract European defence investment into Canada," the premier said in a statement.
SAFE is a 150 billion euro ($174 billion) rearmament fund announced earlier this year. It forms part of a broader initiative aimed at preparing the European Union for self-defense by 2030, against concerns over a potential Russian attack and doubts about U.S. protection.
In early September, 19 European Union member states submitted requests for loans under the SAFE instrument. 13 European countries expressed willingness to provide aid to Ukraine from the funds received.
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