Canada should become a world leader in producing and processing raw materials for military equipment and defense systems, according to an influential business group.

The Business Council of Canada urged the government to work with other NATO members to create a “critical mineral reserve for defense technology and military purposes,” helping allies lock in a stable supply of key materials amid the threat of export controls and limited inventories.

It’s one of a list of ideas proposed in a new report by the council, which represents some of Canada’s largest companies and their executives. The group said Prime Minister Mark Carney’s government needs to take a bolder approach in areas such as energy, agriculture and mining to get the Canadian economy out of low gear.

“Canadians are no better off today than they were a decade ago,” said the report. “The problem is clear. Canada lacks the export infrastructure to fully leverage its natural assets and deliver to allies and trading partners the commodities they need and want.”

Among the North Atlantic Treaty Organization’s list of 12 critical raw materials essential for the defense industry, all can be found in Canada, from cobalt in Newfoundland and Labrador, to graphite in Quebec, platinum in Ontario and germanium in British Columbia.

The defense-critical minerals push fits with Canada’s greater focus on military spending under Carney, the former central banker who became prime minister in March. Last month, the government announced an immediate hike to its defense budget to meet NATO’s target of spending 2% of gross domestic product.

Other proposals in the report — titled “Selling to our strengths” — include using Canada’s vast resources to help other nations with their energy security, and revamping foreign and trade policy to grow the country’s market share.

“The world has changed — and if we play our cards right, it may be changing in Canada’s favor,” the Business Council said. “We can get what we have to those who want it — in a way that increases both economic security and economic growth.”