Federal ministers tout Canada-Europe trade expansion at Montreal conference

Canada needs to double its exports to Europe and realign with the European market as U.S. tariffs pose a real challenge to the economy, according to federal ministers speaking Monday at the Conference of Montreal.

Industry Minister Mélanie Joly emphasized aluminum and aerospace as priority sectors. "Europe's needs in terms of aluminum are massive as we're developing even more defence production," she said, noting Quebec's hub status in aerospace. Finance Minister François-Philippe Champagne highlighted the Comprehensive Economic and Trade Agreement (CETA) as offering preferential market access and pointed to Montreal's emerging artificial intelligence ecosystem as a driver of future growth.

"When you're looking at Montreal, you have to think what is going to drive the next industrial revolution is artificial intelligence," Champagne said. "Montreal is always referred to. We have the best researchers, we have the Mila Institute, we have a huge ecosystem." The three-day conference, held annually in Montreal, welcomes world leaders in government, business, and academia to discuss the economy, sustainability, and innovation. This year's theme is leadership amid uncertainty. Mayor Soraya Martinez Ferrada highlighted that Montreal has become central to Canada's strategic economic decisions, particularly after the unveiling of Canada's artificial intelligence strategy at Mila last week.