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Canada can weather Brexit storm: PM

Xinhua, June 25, 2016 Adjust font size:

Canadian Prime Minister Justin Trudeau said Friday that his country's economy is in a good position to weather the storm in the wake of Britain's vote to leave the European Union.

"While last night's vote will undoubtedly increase global economic uncertainty, Canadians can be reassured that we are monitoring the situation closely and that we will work with our partners across the world to maintain stability and create economic growth," Trudeau said in French and broadcast by CTV.

Trudeau said he had spoken with Finance Minister Bill Morneau and Bank of Canada Governor Stephen Poloz, who were in contact with their Group of Seven counterparts.

"They are monitoring world markets knowing that Canada's financial system remains strong and stable," Trudeau said, after the Canadian dollar lost more than a cent against the U.S. dollar.

"Canada has tremendous economic fundamentals that we are strengthening with key investments in infrastructure and measures to grow our middle class. We are well positioned to weather global market uncertainty as we have done in the past," added the Canadian prime minister.

Calling Britain and the European Union (EU) important strategic partners for Canada, he said his country will continue to build relations with both.

In his press conference to mark the end of the parliamentary sitting on Wednesday, Trudeau said the outcome was up to the British people, but Britain and the EU are "stronger together."

The fate of the Canada and European Union Comprehensive Economic and Trade Agreement (CETA) weighed heavily on the mind of Trudeau's government as well as the opposition Conservative Party.

Canadian International Trade Minister Chrystia Freeland, who touted CETA as a "gold-plated trade deal," said she has already spoken with her EU counterpart about it.

Conservative member of parliament Jason Kenney, a former immigration minister and defense minister who congratulated the British people for "embracing a confident, sovereign future," urged Trudeau to make negotiations for a Canada-Britain trade deal a priority. Endi