In a significant meeting in Toronto, Ontario, Canadian Prime Minister Justin Trudeau and Italian President of the Council of Ministers Giorgia Meloni reaffirmed the deep-rooted friendship and shared values between Canada and Italy.
They discussed mutual interests aimed at fostering sustainable prosperity for their citizens amid the complexities of the global landscape. Both leaders recognized the critical role of resilience in navigating global challenges and committed to strategic collaboration between Canada and Italy.
As nations with a strong trading relationship, they underscored the importance of a rules-based order and the benefits of predictable, transparent, and accessible business environments.
Statement Issued by Prime Minister Trudeau and Meloni (Credits: Bloomberg)
This meeting celebrated the robust and expanding economic partnership between the two countries, highlighting their complementary economies and the vital contributions of small and medium-sized enterprises.
Canada and Italy’s trade and investment ties are substantial, with Italy being Canada’s second-largest trading partner in the European Union.
The bilateral trade reached a record $15.8 billion in 2023, reflecting the dynamic economic engagement between the two nations. The leaders also acknowledged the significant contributions of the 1.6 million Canadians of Italian descent to both countries.
To strengthen their bilateral relationship further, Trudeau and Meloni agreed to establish the Canada-Italy Roadmap for Enhanced Cooperation.
This ambitious plan outlines areas of collaboration for the next 3-5 years, including energy security, sustainable energy transition, climate change, biodiversity, migration, sustainable economic growth, and research and innovation, particularly in artificial intelligence.
The Roadmap signifies a commitment to a renewed partnership aiming to enhance the prosperity of both nations and advance shared global objectives. Progress on this initiative will be reviewed at their next meeting in Italy in June.
Additionally, the leaders discussed Italy’s G7 Presidency priorities and their collective commitment to addressing global challenges and advancing shared goals.
With Italy holding the G7 Presidency in 2024 and Canada in 2025, both countries will focus on upholding the rules-based international order, promoting human rights, economic and supply chain resilience, digital governance, environmental and climate initiatives, and health and food security. They also pledged to continue G7 discussions on irregular migration.
Canada and Italy are dedicated to advancing the Sustainable Development Goals and supporting sustainable economic development, particularly in collaboration with African partners.
Canada expressed support for Italy’s emphasis on Africa during its G7 Presidency and the objectives of the Mattei Plan unveiled at the recent Italy-Africa Summit.
As NATO allies and partners in the G7, G20, and UN, Canada and Italy are committed to addressing global security, political, and economic challenges, including Russia’s aggression against Ukraine and the conflicts in Gaza, the Middle East, and the Red Sea.
Both countries support a free and open Indo-Pacific, emphasizing inclusivity, prosperity, security, and adherence to the rule of law.
