Ottawa [Canada], March 13 (HBTV): Mark Carney, who was recently elected as the leader of the Liberal Party, will take oath as Canada's 24th Prime Minister along with his cabinet on Friday, CTV News reported.

He will be taking over from Canadian Prime Minister Justin Trudeau after securing a win in the Liberal leadership on the first ballot held on Sunday.

Canada's Governor General Mary Simon's office announced that the swearing-in ceremony for the prime minister and members of the Canadian ministry will take place in the Rideau Hall ballroom at 11 am EDT.

On his first day as Liberal leader, Carney met Trudeau at the Prime Minister's Office to discuss the transition period. By the end of the day, Carney stated the changeover would be 'seamless' and 'quick,' according to the CTV News report.

In the days since, Carney has been holding meetings with key officials in Ottawa and beyond, while work has been underway behind the scenes to facilitate the transition of power, both from a bureaucratic and a security standpoint.

According to the report, Carney, the former Governor of the Bank of Canada and the Bank of England, has divested all his assets into a blind trust. Trudeau is expected to visit the Governor General on Friday to officially tender his resignation, after which Carney will take the oaths of office and allegiance.

Canada's new Prime Minister will unveil his new ministry, which will include his cabinet selections. Several key figures who played prominent roles in managing US President Donald Trump's tariffs supported Carney during the leadership race, CTV News reported.

Carney will assume office at a time when polling shows the Conservatives and Liberals are closely matched, amid growing concerns in Canada over relations with the United States. The same polling indicates Trudeau will conclude his tenure with his favorability at a 12-month high.

In his final speech as Liberal leader, Justin Trudeau highlighted the 'achievements' of the Liberal Party over the past decade while looking toward the future, hours before his successor's announcement, CBC News reported.

In his speech at the Liberal Leadership Convention, Trudeau said, 'I am damn proud of what we've done over these past 10 years for the middle class and the people working hard to join it.'

Trudeau emphasized the importance of preserving Canada's values, saying, 'Democracy is not a given. Freedom is not a given. Even Canada is not a given... None of those happened by accident. None of them will continue without effort.'

After resigning as Prime Minister, Trudeau was seen exiting Parliament in a playful manner — carrying a chair and sticking out his tongue.

As per convention, Canadian lawmakers are allowed to take their chairs with them when they leave Parliament. Brian Lilley, a political columnist for the Toronto Sun, remarked on X, 'When any MP leaves the Commons, they are allowed to take their chair, their seat with them. I find it a great tradition, one that I support. That said, this is a weird photo of Trudeau leaving with his. Also, perhaps another sign of a looming election.' (ANI)