By Amy Pigeon
By all accounts, the global economic atmosphere is stormy. With the reverberations of geopolitical instability and trade tensions escalating—particularly with the U.S. poised to intensify tariffs under another Trump presidency—countries like Canada are not-so-quietly searching for new, stabilizing alliances. One of the most promising answers came in the form of a gathering on the 35th floor of Toronto’s Ontario Investment and Trade Centre: Invest in Italy Toronto 2025.
The event, hosted by the Italian Trade Commission in partnership with the Embassy of Italy in Canada and the Italian Chamber of Commerce of Ontario, was more than a polished networking luncheon. It was a pointed, hopeful declaration: Italy is open for business—and it wants to do business with Canada.
Among the standout moments was the refreshing candor of Daniel Tisch Echevarria, President and CEO of the Ontario Chamber of Commerce. Speaking with urgency and optimism, Tisch acknowledged the difficult questions Ontario businesses are grappling with in light of a potential U.S. trade war. “When we asked them how they plan to navigate it,” he shared, “they said one of three things: they would raise prices, cut workforce, or find new trade partners.” Tisch paused, then smiled: “Clearly, the best option is finding new partners. And I believe Italy is one of them.”
That sentiment echoed through every keynote and panel of the day. Ambassador Alessandro Cattaneo reminded attendees of Italy’s deep cultural and commercial ties with Canada, and the 73% increase in trade between the two nations since 2016, as highlighted in Sameena Qureshi’s remarks from the Canadian Embassy in Rome.
So what does Italy offer that others don’t?
Plenty. And quantifiably so.
According to Giovanni Carpenteri of ITA Canada, Italy is now the largest EU beneficiary of the EU Recovery and Resilience Facility, securing a staggering €191.5 billion for infrastructure, education, green technology, and digital innovation under its National Recovery and Resilience Plan.
Strategic tax incentives, development contracts, and generous grants await Canadian investors—with especially compelling opportunities in Southern Italy through the ZES UNICA (Special Economic Zone), offering tax credits of up to 60% for small businesses and streamlined approvals for projects.
The sectors ripe for partnership? Mechatronics, life sciences, circular economy, and advanced manufacturing. Italy boasts:
- Over 18,000 machinery and equipment firms (the largest in the EU)
- The fastest-growing pharma export industry in Europe, valued at over €48 billion in 2023
- The highest waste recycling rate (83.2%) among major EU nations
Carmine Porello of the Bank of Italy called it a “vibrant business and technological environment” with “resilient fundamentals and world-class academic institutions.”
In other words: Italy is the smart partner in an increasingly risky world.
Yet, what made this event special was not just the numbers, but the nuance. As Jonathan Strong of GEOTAB spoke of expanding their connected mobility platform into Europe, or as Donatella Ciccimarra and Lorenzo Robbe of Invitalia outlined national support systems, one thing became clear: this was not about vague opportunity, but strategic alignment.
Canada and Italy are not just economic partners. They’re G7 allies, NATO members, and long-time cultural companions. The Italian diaspora in Ontario runs deep.
And now, in this moment of global uncertainty, they have something else in common: a future to shape, together.
As Marco Saladini, Director of the Italian Trade Agency in Canada, eloquently put it: “Italy is not only a welcoming and beautiful country, but also home to a thriving business environment and positioned to capture the European advantage. We’re here to help Canadian companies take that step.”
And now might be the time to take it. – VV
It’s definitely worth coming and taking a closer look!