Newsletter – March 2024

Newsletter from Brussels - Capital of the European Union - March 2024


Why Canada is a strategic place for european companies to invest?

In 2023 the population of Canada has grown by 1.25 million.

City of Montreal, Autumn

Good economic fundamentals 
Canada’s GDP growth in the last quarter of 2023 was 0.3%. November’s increase in the goods sector was exceptional compared with the previous 10 months.

Overall government net debt also the lowest in the G7 in 15 years.
The Consumer Price Index (CPI) slowed more than expected in January to 2.9%, after rising 3.4% in December, and is now within the Bank of Canada’s target range.

Canada’s demographic situation was the biggest surprise of 2023. Over the past year, the population has grown by 1.25 million. Canada’s population growth rate was 3.2%, 5 times the OECD average.

A highly competitive business climate
Canada ranks 1st for business climate among the major G20 countries, and among the top 3 in the world for over 15 years.
Canada ranks 4th among G20 countries for the least complex legal framework for doing business.

It takes less effort and time to start a business than in the rest of the OECD countries.

Canada has a relatively low corporate income tax rate, with a general statutory corporate rate of 26.2%.

The 2nd lowest marginal effective tax rate in the G7 on new business investment (13.2%), thanks in particular to advantageous tax deductions on capital investment.

A talented and dynamic workforce
Canada has one of the best-educated workforces and some of the best universities in the world. More than half of all Canadians aged 25 to 64 have completed post-secondary education.

3 Canadian universities are ranked among the 50 best in the world.

Canada attracts talent from around the world, with the number of foreign students almost tripling over the past decade.

Easy access to markets
Companies in Canada have excellent access to the markets of 61% of the world economy, thanks to 15 free trade agreements.
Incomparable access to the U.S. market, with 16 of Canada’s 20 largest cities within an hour and a half’s drive of the U.S. border.

A great place to live.
Globally, Canada offers the best quality of life in the world and has one of the highest standards of living among G20 countries.

Natural resources make Canada a land of opportunity.
Abundant natural resources make Canada a prime location for forward-thinking companies seeking advanced R&D and world-class expertise in energy, minerals and metals, forestry, geosciences and sustainable resource management.

Canada offers a reliable transportation infrastructure that connects businesses to markets around the world. Looking to a greener future, Canada is committed to environmental, social and governance (ESG) initiatives in the natural resources industry.

3rd largest producer of hydroelectricity in the world

4th largest producer of oil and uranium in the world

5th largest producer of natural gas in the world

As a world leader in hydrogen and fuel cell technologies, Canada is well placed to help shape the future of hydrogen. It is also the lowest-cost producer of carbon-free and low-carbon hydrogen among the 21 member economies of the Asia-Pacific Economic Cooperation (APEC).

Canada is one of the world’s leading manufacturers of forest products. In 2021, forestry contributed over $34.8 billion to Canada’s GDP.

Text by
Rachelle SORIN
General Manager
National Bank of Canada


Horizon Europe: Canada joining the 27 EU member states for fruitful collaboration

Great opportunities of collaboration regarding global challenges and European industrial competitiveness.

Université de Montréal (UdeM) is a comprehensive research university, 4th in Canada and 1st in Québec. Together with its business school (HEC Montréal) and its engineering school (Polytechnique Montréal), it hosts about 67,000 students on its campus. It spans 10 sectors of excellence in research (among which AI, health, DD, quantum, new materials, cybersecurity…). The originality of Université de Montréal also lies in its approach, which is resolutely interdisciplinary and intersectorial, with a focus on citizen involvement and knowledge mobilization. Université de Montréal works with all kinds of stakeholders : other universities and research centres, industries, SMEs, NGOs, governments, local and regional authorities… It carries the vision of an engaged science, beneficial to communities and commited to tackling global challenges.

Deeply rooted in its home-town, Université de Montréal, is also open to the world and eager to dialogue with new partners in Europe.

In November 2023, negotiations between Canada and the European Commission regarding an association to pillar 2 of Horizon Europe eventually came to a positive conclusion. As a reminder, Horizon Europe is the EU’s key funding programme for research and innovation with a 2021-2027 budget of €95.5 billions. More specifically, its second pillar offers great opportunities of collaboration regarding global challenges and European industrial competitiveness, in 6 areas :

  1. Health
  2. Culture, Creativity and Inclusive Society
  3. Civil Security for Society
  4. Digital, Industry and Space
  5. Climate, Energy and Mobility
  6. Food, Bioeconomy, Natural Resources, Agriculture and Environment

As of now, Canadian universities can apply as associated-country partners,  together with their European counterparts, be they from academia, from civil society or from the industrial sector.

This momentum is a great opportunity to enhance transatlantic cooperation and to strenghten the value chain between fundamental science, industrial R&D&I and global issues, for the best of all parties.

Text by

Isabelle Lépine
Europe Office Director
Université de Montréal 


Coming Event

The Germany-Canada Conference is held once a year in Germany that brings together political and business decision-makers from Germany, Canada and the EU.

Germany and Canada have common values, a commitment to preserving and promoting the rules-based international order and have common ambitions for the future like collaboration on trade, climate change, technology, security issues, human rights, and others.

The Germany-Canada Conference is a great way to built business relationships through interactive debates, private meetings and an exclusive networking session.


To register, please click this link
Presented by


18-10-2023 – Canada-Europe Economic Chamber – EU
4th Edition of the EU-Canada Business Summit
Cercle Royal Gaulois, Brussels

Recording here

08-06-2023 – Canada-Europe Economic Chamber – EU
Why European Companies Like Marshall Are Flocking to New Brunswick, Canada?

Recording here

12-05-2023 – Canada-Europe Economic Chamber – EU
Germany-Canada Conference
Berlin, Germany at BVMW Headquarters

Photos here

Montreal  Brussels  Ottawa  Paris Toronto Berlin Vancouver  Amsterdam  Hamilton London  Calgary
Madrid  Winnipeg Rome Quebec Oslo Edmonton  Vienna  Victoria  Dublin  Regina Lisbon  Halifax
Athens St-John’s  Copenhagen Moncton  Bratislava  Saskatoon  Budapest  Windsor  Warsaw  Charlottetown
Bucharest  Sherbrooke  Luxembourg  Yellowknife  Helsinki  Whitehorse  Geneva  Kitchener  Prague  Gatineau
Sofia  Red Deer  Zagreb  Fredericton  Talinn  Sudbury  Nicosia  Kingston  Ljubjana  Lethbridge  Valletta
Thunder Bay  Vilnius  Cornwall  Riga  Trois-Rivières  Zurich  Kelowna  Stockholm  Saguenay  Reykavik

since 2016