The opening of doors for critical minerals supply chain between Canada and South Korea, and working together towards enhancing economic ties, with the aim to diminish their dependence on China was agreed by the Prime Minister Justin Trudeau of Canada and President Yoon Suk Yeol of south Korea.
The increasing threat authoritarianism around the world was a theme in Trudeau’s address to the South Korean National Assembly.
Trudeau recognizes that China is a vital economic partner around the world, However, the need for a careful approach when co-operating with China. He said it is important to know where to compete on economic grounds and where to challenge on human rights issues.
A memorandum of understanding was signed on critical minerals, clear energy transition and energy security, foreseeing potential investment and trade for Canada.
Both countries aimed to become reliable partners in relation to the supply chain for electric vehicles, and minerals needed to make their batteries.
Trudeau’s visit to South Korea, stressed their commitment to strengthen economic and military ties, to reduce the influence of Beijing.
The partnership was signed with LG energy solution, a South Korean battery maker for critical materials, as automaker Stellantis, halted construction on electric-vehicle battery in Windsor, following a dispute with Canada’s federal government.
Negotiations are underway between the federal government and Stellantis, but requiring Ontario to contribute a largest share than the $500 million in capital cost it had put initially on the table.
Canada has delivered good jobs for the middle class across the country, by the investing partners from around the world.
Trudeau assured that they have welcomed thousands of Korean students to universities, now wanting to do even more by offering more opportunities for youth in both countries.
Trudeau informed that the federal government together with South Korea will commit to advance in human rights in North Korea. Human right organization will be aided by the federal government in this regard.
He also informed that the two countries can jointly address climate change, which is a part to safeguard against geopolitical instability with a more resilient economy.
