Defense contracts in London will be pursued by Quebec
Quebec to Attend DSEI Exhibition Amidst Israeli Delegation Absence
The United Kingdom Defense and Security Exhibition (DSEI), one of the world's leading defense events, is taking place this week in London. However, an Israeli government delegation will not be in attendance, due to the intensification of Israel's military operation in Gaza.
Investissement Québec, the economic development agency of the Canadian province of Quebec, is preparing to travel to the UK for this major industry fair focusing on defense contracts. The mission will be overseen by Investissement Québec, which has revised its investment policy to support projects in the military domain.
Quebec boasts expertise in aerospace and artificial intelligence, key sectors for defense, and has nearly 1,200 companies working in the defense sector or related to it. More than 20 Quebec companies will accompany the delegation to the exhibition.
The Caisse de dépôt et placement du Québec, a major Quebec-based investment firm, has affirmed it does not support Israel. This stance aligns with Investissement Québec's values, which ensure that any investments made are studied rigorously for their merits before proceeding.
When Investissement Québec enters the defense domain, it does so on a case-by-case basis. The agency will not finance the production of anti-personnel mines, chemical or nuclear armaments. The revised policy allows Investissement Québec to make interventions in companies that manufacture non-controversial weapons destined for Canada's allied countries.
The DSEI exhibition brings together around 45,000 participants from nearly 90 countries. Major buyers such as Safran and Babcock will be present at the event. The foreign sales of companies supported by Investissement Québec's export teams have increased from around $1 billion five years ago to nearly $5 billion today.
Canada and Europe have promised massive defense investments under US pressure. Canada has committed to increasing its military spending to 5% of its GDP within ten years, which would require spending of around $150 billion. The European Commission has presented a plan for investments of €800 billion - around $1.3 trillion - in the defense sector.
As the world grapples with increasing geopolitical tensions, defense spending is on the rise. The DSEI exhibition in London serves as a platform for nations and companies to showcase their defense capabilities and forge new partnerships. Quebec's attendance at the event underscores its commitment to the defense sector and its ambition to play a significant role in shaping the future of global security.
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