News
Ontario, Canada Highlights Portugal as Trade, Investment and Job-Creation Ties Set to Grow
08 Oct 2026, 20:00
Against the backdrop of a changing global trade landscape, Portugal is increasingly being viewed by North American regions as an important European partner.
Recently, Ontario Premier Doug Ford said during a Portuguese-Canadian business event in Toronto that Ontario hopes to further strengthen its economic and trade relationship with Portugal. He noted that, as the United States becomes more inward-looking economically, Ontario is actively seeking new international markets and trade partners, with Portugal standing out as one of the European countries where cooperation could be deepened.
Ford described Portugal as an “important trade partner” for Ontario. He said the two sides already have a foundation for cooperation, with significant room for further growth. According to Ford, bilateral trade between Ontario and Portugal is expected to exceed CAD 1.1 billion in 2025, equivalent to around EUR 682 million.
While this figure may not be enormous, it carries meaningful weight in the current international trade environment. For Ontario, Portugal is not just another European market; it can also serve as an important gateway into the European Union and a platform for expanding transatlantic supply chains. For Portugal, growing attention from Canada could mean more investment, deeper industrial cooperation and new job opportunities.
Ford specifically highlighted aerospace, advanced manufacturing and life sciences as key areas where Ontario and Portugal could deepen future cooperation. These are high value-added sectors and are also aligned with Portugal’s broader push toward industrial upgrading in recent years.
Portugal’s ambassador to Canada also said during the event that there is an opportunity to take economic relations between the two sides to a new level. He pointed to growing cooperation opportunities in mining, aerospace and defence, technology and software, pharmaceuticals and life sciences, renewable energy and agribusiness.
Behind these sectors lies a broader shift in Portugal’s international positioning. In the past, Portugal was often associated first with tourism, retirement, real estate and immigration. Today, however, more international companies are beginning to see Portugal as a European node for technology, energy, manufacturing and talent cooperation.
In the context of trade tensions between the United States and Canada, Ontario’s search for market diversification is hardly surprising. As one of Canada’s most important economic provinces, Ontario has long relied heavily on trade with the United States. But as US policy places greater emphasis on domestic priorities and trade protection, Canadian provincial governments and businesses naturally need to look for new directions.
Portugal’s advantage lies in the fact that it is both a member of the European Union and a country with deep historical and commercial ties to North America, Latin America and the Portuguese-speaking world. For Canadian companies, Portugal can be a relatively friendly and cost-competitive cooperation window with access to the EU market.
During the event, a representative of the Portuguese-Canadian Chamber of Commerce also mentioned that labour shortages and economic uncertainty are among the main concerns for Portuguese-Canadian companies in Ontario. This point is also worth noting. When companies face workforce shortages and pressure from a slowing market, cross-border cooperation, technological upgrading and the development of new markets often become even more important.
From an investment perspective, this news sends a positive signal: economic ties between Portugal and North America are being reassessed and strengthened. If the two sides move toward more concrete cooperation in aerospace, defence technology, renewable energy, life sciences and software services, this could help raise the industrial value of Portugal’s economy while attracting more skilled jobs and foreign investment.
For those following Portugal’s investment, immigration and long-term development outlook, this is worth watching. A country’s attractiveness is not determined only by property prices, rents or immigration policies; it also depends on whether it can continue to attract international capital, companies and high value-added industries.
In short, Ontario’s public statement is not merely diplomatic courtesy. It reflects a broader environment in which global supply chains are being reorganized, North America is seeking greater market diversification and European industrial cooperation is gaining momentum. In this process, Portugal is being rediscovered by more international markets.
If Portugal can turn this type of cooperation from intention into actual investment projects, the benefits will go beyond bilateral trade figures. They could also extend to Portugal’s job market, technology sector, energy transition and overall investment environment.
For investors, this is a trend worth paying attention to: Portugal is gradually moving beyond its traditional image as a tourism and real estate destination and becoming a European gateway with real industrial cooperation value. As a North American economy such as Canada begins to strengthen its ties with Portugal, the country’s future role in transatlantic trade and investment may become more important than ever.