Australia is following with interest Canada's efforts to forge a deeper relationship with the European Union, while Canberra also seeks to diversify its trade ties.
"We are on the same page," Australian Trade Minister Don Farrell told the Sydney Morning Herald.
"We will follow with great interest what Carney does," he added, referring to Canadian Prime Minister Mark Carney.
Canada is seeking a “unique alliance” with the European Union, but not membership in the bloc. The move comes at a time when Ottawa is facing an escalating trade war with the United States.
Farrell did not provide details on whether Australia is currently seeking a new relationship with the EU or what form that might take.
Australia is also trying to diversify its trade relations after facing US tariffs on a range of exports, despite its long-standing security alliance and free trade agreement with Washington.
According to the Wall Street Journal, Canada and the EU are discussing the possibility that Canadian goods, services and workers in strategic sectors, including energy, artificial intelligence, defense and critical minerals, could move freely.
The talks also include joint infrastructure projects, such as undersea cables, data centers, cloud storage, satellite networks, and infrastructure for transporting Canadian energy to Europe.
Farrell said Australia is open to the possibility of new agreements with the EU.
"The world is being divided between protectionists and supporters of free trade," he declared.
"It is indisputable that Australia's prosperity over the past 50 years has come from our engagement with the world," the minister added.
Australia and the European Union signed a free trade agreement in March, after eight years of negotiations, removing tariffs on almost all goods.