Prime Minister Mark Carney described Canada as an investment haven on Tuesday at a gathering of the global financial elite, but acknowledged that relations with the United States remain crucial despite the escalating trade war.
Carney held the Canada Investment Summit as part of his drive to diversify an economy that he insists has become too dependent on an increasingly protectionist United States.
The guest list for the event in Toronto includes representatives of Gulf sovereign wealth funds, European banks, and the China Investment Corporation, in addition to the richest man in Africa, Nigerian businessman Aliko Dangote, along with American investors.
“Our goal is to stimulate C$1 trillion (US$720 billion) worth of investment in Canada over the next five years,” Carney said at the event, promising tax cuts and reduced red tape to make the country more attractive to foreign capital.
