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‘We can set the agenda:’ Carney continues middle power pitch in Australia

Mark Carney promotes Canada and Australia’s cooperation on critical minerals, defense projects, and trade to build a coalition of middle powers with a combined GDP larger than the U.S.

  • At the Lowy Institute in Sydney, Mark Carney said Canada and Australia share legitimacy and trust, renewing his argument that middle powers should convene and set global agendas.
  • Carney said Canada and Australia can pool critical minerals and defence capacity, partnering on AI and aerospace projects while linking the CPTPP and European Union to create a 1.5 billion people trading bloc.
  • Ahead of his address, Carney met business and investment leaders including Simon Trott, Jack Cowin, Raphael Arndt, Shemara Wikramanayake and Kate Galvin, and he noted their combined GDP surpasses the U.S. and trade triples China’s.
  • Next he will head to Canberra to meet Australian Prime Minister Anthony Albanese and address the Australian Parliament after Ottawa and Canberra signed an agreement last year for an over-the-horizon radar system for Arctic use.
  • After the Lowy Institute address, Carney said during the Q&A, `dropping the F-word` while recounting his time as Bank of Canada governor during the 2008 crisis, joking about central bankers' fun.
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The Toronto Star broke the news in Toronto, Canada on Wednesday, March 4, 2026.
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