POSITION | EXTERNAL ECONOMIC POLICY | CANADA
Working Together for a Competitive Economy Unlocking the full potential of German-Canadian partnership
March 2025 Executive Summary ▪
Germany and Canada are not only important economic partners, the two countries also share key values. This is particularly important in times of geopolitical and geoeconomic uncertainty when economic resilience and the defense of our shared value system and the rules-based trading system are of growing importance. The economic ties between Germany, the European Union (EU), and Canada should therefore be further deepened.
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Trade and investment: CETA must finally be ratified by all EU member states. This would be an important and much needed contribution to a proactive EU trade policy with key partners, which would advance the diversification of supply chains and the reduction of dependencies. Moreover, trade must be further simplified – for example by further reducing non-tariff barriers to trade and in public procurement.
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Raw materials: Canada should be given more strategic consideration when it comes to securing raw materials for German industry. In-depth cooperation along the value chain, including circular economy approaches, could be achieved primarily with expertise, technology and skilled workers from Germany, as well as the raw materials from and the experienced mining industry of Canada. When it comes to raw materials, Germany and Canada should cooperate more closely at the political level. This includes training, industry-relevant research and technology development, and supporting private-sector activities – for example regarding financing and risk mitigation. Furthermore, trilateral and plurilateral cooperation abroad, as well as industry-relevant cooperation in the context of the EU-Canada Raw Materials Partnership should be promoted. Best regulatory practices should also be aligned. Relevant issues include the classification of critical and strategic raw materials, measures to strengthen domestic mining and its public acceptance as well as improvements with regard to energy costs, technology-open approaches (CCS), planning and approval procedures, and transport logistics.
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Energy and climate: The activities of the Canada-Germany Energy Partnership are to be welcomed, with companies and research institutions being involved at an early stage to implement industry-related projects. The planned transatlantic hydrogen export to Germany and the EU and the creation of joint financing mechanisms should be specified quickly. A strategic partnership in
Anna Kantrup | External Economic Policy | T: +49 30 2028-1526 | a.kantrup@bdi.eu | www.bdi.eu