Toronto Economic Forum 2024: The prospects for Greek-Canadian business cooperation

The opportunities and challenges facing Greece and Canada in their efforts to improve cooperation were discussed during the Toronto Economic Forum 2024, an event that is an initiative of the Economic Forum of Delphi, with the cooperation of The Hellenic Initiative Canada, the Hellenic-Canadian Chamber of Commerce and the Greek Embassy in Ottawa.

Trade relations between the two countries are strengthening, with notable growth in exports and investment. CETA (Comprehensive Economic and Trade Agreement) is the basis for this development.

“What is really interesting is that if we look at exports in merchandise to Greece in 2023, they increased by around 20%. This is a significant number for one year’s growth and something we really need to take stock of and be proud of, in the sense that the ground that was laid by the Free Trade Agreement has in fact led to substantial growth and the opportunities remain,” the vice-president of Canadian Corporate Business, Export Development Canada, Sven List.

He referred to a series of investments that Canada has made in our country and what it means for the future of cooperation.

“If we think about some of the investments that Canada has made, the Canadian private sector, El Dorado and airport infrastructure, etc., we find that they are long-term investments. These show the commitment of the two countries to build something together,” he noted.

List also sees opportunities in common problems.

“We both deal with climate change in a different way, but we both deal with climate change. And some of the challenges are actually very similar. So if we think about forest fires, Canada, Greece are facing a very similar challenge and I think this is an area where we can double our efforts and find ways to work together,” he pointed out.
At this point, reference was made to the large order of Canadair firefighting aircraft, which our country proceeded with.

He also referred to the tax framework.

“We have a stable tax framework, a very friendly investment framework … We have the capital, we have the availability of capital that is necessary, we have talent and we manage to attract Greek talent back to Greece,” stressed the managing director of the Hellenic Development Investment Bank, Antigoni Lymperopoulou, who also highlighted the dynamics of the Greek start-up business ecosystem and the attraction of investments and pointed out the importance of synergies and the exchange of know-how between Greece and Canada.

In addition, Greece is developing into a regional energy hub, with an emphasis on Renewable Energy Sources and energy security, creating an attractive framework for cooperation in this field as well, Nikos Stamou, Director of Investment Promotion, Energy, Environment and Services, Enterprise Greece, stated.

SOURCE; ANA-MPA