Mark Carney kicked off his four-day Australian tour at an event in Sydney where the two nations' super-sized pension funds agreed to cooperate more closely.
Australia's superannuation system is set to eclipse its Canadian counterpart within the next decade.
Announcing the deal, nine Australian funds representing 14 million accounts and $1.4 trillion in assets said the initiative would help facilitate government dialogue on policy barriers and their solutions to get more bang for their investment buck.
The countries' respective pension systems are forecast to manage a combined $20 trillion in assets by 2040.
As of 2024, Canadian direct investment into Australia was about $60 billion while about $30 billion was headed in the other direction, the Canadian government said.
Canada's Finance Minister Francois-Philippe Champagne, who is travelling with Mr Carney, said synchronicity between the two systems made a lot of sense.
"They (the pension and super funds) are looking at financing quite similar assets, when it comes to roads, airports, ports," Â he told ABC RN on Wednesday morning.
"There is much for us to learn from each other, to work more closely together."
The local funds signed onto the arrangement are the Australian Retirement Trust, AustralianSuper, Aware Super, CareSuper, CBUS, HESTA, Hostplus, IFM Investors and Rest.
Mr Carney attended an official signing event for the deal in Sydney on Wednesday morning.
He pressed the flesh with those in attendance, including executives from the Australian funds.
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