Ottawa, Sep 23 (IANS): Canadian Prime Minister Justin Trudeau has announced new military, economic, peace and security, and development assistance and investments for Ukraine, after a meeting with visiting Ukrainian President Volodymyr Zelensky.

In a press release posted on his office website on Friday, Trudeau said Canada is "shifting the approach to provide multi-year assistance", Xinhua news agency reported.

He announced a new investment of 650 million Canadian dollars ($487.5 million) over three years to supply Ukraine with 50 armoured vehicles, including armoured medical evacuation vehicles.

According to the release, Trudeau and Zelensky signed the modernized Canada-Ukraine Free Trade Agreement, which ensures high-quality market access terms for Canadian businesses participating in Ukraine's economic recovery.

The two countries have agreed to work with international partners to establish a working group of eminent persons to provide advice to decision-makers on the seizure and forfeiture of Russian assets, including Russian central bank assets, the release said.

Trudeau announced an additional 34 million Canadian dollars ($25.5 million) in development assistance for four multi-year initiatives supporting mental health, small-scale farmers and restoration of agricultural livelihoods, local infrastructure rehabilitation and reconstruction, as well as technical assistance for inclusive recovery.

Trudeau also announced new sanctions targeting 63 Russian individuals and entities, the release said.

Zelensky, who was visiting Canada from Thursday to Friday, delivered a speech to parliamentarians on Friday calling on Canada and other Western allies for further support.