Italy reaffirmed its commitment to expanding economic partnerships with Canada during a strategic meeting held in Quebec City.
Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Hon. Antonio Tajani, chaired a roundtable discussion that brought together Italian economic stakeholders active in the Canadian market. The event was organized by the Embassy of Italy in Canada, in collaboration with the Italian Chamber of Commerce in Canada, the Consulate General of Italy in Montreal, and the Italian Trade Agency (ICE).
The event, held at Le Bonne Entente hotel on March 14th, gathered business leaders, institutional representatives, and economic experts.
Strategic Opportunities for Italy
Italy and Canada have fostered increasingly strong trade relations. The Canadian market, known for its innovative manufacturing sector and rich natural resources, aligns with many of Italy’s economic needs, facilitating mutually beneficial cooperation.
According to Francesco Biondi Morra di Belforte, Director General of the Italian Chamber of Commerce in Canada, both countries share the desire to diversify their economies. “The Canada-Italy business relationship is underdeveloped, yet the potential is enormous,” he stated. He also highlighted Italy’s recent economic progress and the availability of attractive programs to encourage foreign investments in key sectors such as aerospace, automotive, agribusiness, green energy transition, raw materials, life sciences, mechanics, microelectronics, semiconductors, real estate, and tourism.
Key Discussion Topics
The roundtable addressed several essential themes:
- Opportunities and risks arising from the current economic climate between Canada and the United States.
- Growth prospects for Italian businesses in the Canadian market.
- The role of the Italian “system,” both nationally and internationally, in supporting Italian companies abroad.
- The impact of new technologies on internationalization trends.
Among the participants were several major Italian companies established in Canada, including Leonardo, Fincantieri, Ferrero, Mapei, Labomar, and Coop North America. This gathering marked an important step in strengthening economic ties between Italy and Canada, paving the way for new business and investment opportunities.
