Good morning, Madam Chair and committee members.
Thank you so much for the opportunity to address the committee at a time marked by economic upheaval, escalating geopolitical tensions and the pressures of rapid technological change. In the face of these challenges, Canada is focusing on what we can control. Even as fiscal constraints sharpen the trade-offs we face, our priorities are clear: protecting Canada's sovereignty and ensuring our long-term prosperity.
As I emphasized at the G7 foreign ministers' meeting earlier this month, our approach rests on building strong, resilient and purposeful global partnerships.
Canada's strength abroad has to be anchored in resilience, trust and clear objectives right here, at home. Our economic security is also our national security. Resilient economies create resilient societies, secure borders and real opportunities for all Canadians.
For this reason, our government's foreign policy rests on economic resilience, robust defence and security, and it remains guided by our core values. As Minister Champagne has said, “We are building an economy by Canadians, for Canadians.” We are laser-focused on diversifying trade, strengthening supply chains and attracting targeted foreign investment to secure Canada's future.
My recent travel to Europe, Asia and the Americas has been focused on deepening partnerships in strategic markets. These partnerships strengthen our commitment to a stable, rules-based trading system, reinforcing both our prosperity and our resilience to global shocks.
Backed by budget investments, initiatives like team Canada trade missions and our work to position Canada as a top-tier investment destination are creating new opportunities for Canadian businesses and communities. Our network of diplomatic missions abroad has received clear instructions to deploy all necessary resources to advance trade diversification and economic diplomacy. Stable, rules-based trade and strong alliances are absolutely essential not only for economic growth but also for the protection of our borders, our rights and our democratic institutions.
We must also turn our attention to regions where we can deepen ties with like-minded states, including the Arctic. First and foremost, Canada is an Arctic nation. Forty per cent of our territory and over 70% of our coastline are in the Arctic, shaping both our domestic and our foreign policy. We have recently appointed an Arctic ambassador, along with planning the opening of a consulate in Greenland, both of which will expand our diplomacy vis-à-vis the Arctic.
During discussions with ministers of foreign affairs in Arctic states, a clear consensus emerged that it was now time to strengthen our northern presence and collaboration, especially in light of climate and geopolitical changes.
Canada's latest budget earmarked $80 billion in defence spending, putting us on a path to reach 2% of GDP this year and 5% of GDP by 2035. A substantial portion of this will support dual-use infrastructure, such as new or expanded airports and ports and runways in the Canadian Arctic.
As foreign minister, my focus is on deepening collaboration with Arctic states and partners to ensure Canada's sovereignty and security.
I will move now to emphasizing our support for Ukraine. Over $22 billion or so to Ukraine signals Canada's unwavering support for international law, sovereignty and security. We're also investing in cyber-technology and technology-driven defence modernization, recognizing the evolving nature of global threats.
Canada's foreign policy will always be guided by our core values, driven by pragmatism and sustained by budgeted investments.
That means expanded humanitarian support, efforts to advance a two-state solution in the Middle East, sustained support to help restore security in Haiti and efforts to reform multilateral institutions so that they remain fit for purpose and capable of addressing today's global challenges.
Our G7 presidency this year has placed Canada's priorities firmly at the heart of the international agenda. Canada is fully committed to working with partners in multilateral organizations to advance common priorities and address global challenges that directly impact Canadians. Our core values continue to define who we are and serve as a strength on the world stage.
In conclusion, as we face a global landscape marked by renewed strategic competition and economic coercion, we must recognize that our approach must be sustained commitments and focused investments that reflect the realities of today's global landscape. Our engagement on the world stage is deeply connected to the daily lives of Canadians. Every decision we take internationally is designed to deliver tangible benefits for all Canadians across the country, in every province and territory.
I'm ready to answer your questions.
Thank you very much.