Canadian Prime Minister Mark Carney announced the conclusion of negotiations for Canada’s participation in the European Union’s Security Action for Europe (SAFE). In a news release from the prime minister’s official website yesterday, Carney said Canada and the European Union will work to swiftly ratify the bilateral SAFE agreement with the goal to officially launch Canada’s participation. With this agreement, Canada will become the only country outside of Europe with preferential access. Carney said Canadian participation will give Canada’s defense industry expanded access to the European market, attract new reliable suppliers for the Canadian Armed Forces, and catalyze massive private investment in Canada. The EU Council officially approved the establishment of the SAFE instrument in May, which would provide a total of 150 billion euros in financial support for member states to procure security and defence equipment through long-term loans with preferential interest rates.<><>