The European Commission (“Commission”) announced that Canada and the European Union (EU) launched the “Alliance for the Future” initiative at the 21st Canada-EU Summit held in Montréal on 29–30 October 2026, with the aim of enhancing economic security, trade, technology and strategic cooperation. Announced by Canadian Prime Minister Mark Carney, President of the European Council António Costa and President of the European Commission Ursula von der Leyen, the initiative's most significant development in the field of competition law was the conclusion of negotiations on the Canada-EU Competition Agreement. The Agreement aims to enable Canadian and European competition authorities to more effectively address anti-competitive practices by companies operating on both sides of the Atlantic and to ensure fair prices for consumers. This development represents an important step towards strengthening international cooperation and coordination between competition authorities, particularly in relation to companies operating across borders.
The initiative also includes the conclusion of negotiations on the Canada-EU Digital Trade Agreement, which seeks to facilitate online trade in goods and services by updating the applicable digital trade rules and simplifying cross-border transactions. Furthermore, the parties announced plans to establish a joint working group and conduct further negotiations on connecting their instant payment systems and improving reciprocal market access in the banking, insurance and fintech sectors. These developments are also significant in terms of supporting competitive markets, expanding consumer choice and facilitating cross-border economic activities.
(Commission – 30.10.2026)
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