The Business Council of Australia and the Business Council of Canada have signed a pivotal memorandum of understanding to accelerate trade and investment between the two nations.
The agreement was formalised on March 5 on the sidelines of Canadian Prime Minister Mark Carney's official visit to Australia, underscoring a deepening bilateral relationship.
The MOU, witnessed by Australian Minister for Trade and Tourism Don Farrell and NSW Minister for Industry and Trade Anoulack Chanthivong, establishes a strategic framework to enhance business-to-business engagement.
By identifying fresh avenues for capital flow, the councils aim to leverage the shared strengths of their resource-rich, open economies.
BCA CEO Bran Black emphasised the domestic impact of the deal, noting that with trade supporting one in four Australian jobs and nearly 46% of the national GDP, such global partnerships deliver "real benefits for all Australians."