On June 4, Toronto Region Board of Trade hosted its final Policy Committee meeting for the 2024–2025 cycle.
The event brought together members from across sectors to reflect on a year of advocacy and momentum. A highlight of the morning was a fireside chat with Dr. Ailish Campbell, Canada’s Ambassador to the European Union, who delivered timely insights on global trade volatility, Canada’s evolving position in Europe, and what it will take to remain globally competitive.
Competing in a Fragmented World
With rising protectionism and uncertainty surrounding U.S. trade policy, Dr. Campbell emphasized the urgent need for Canada to diversify its economic partnerships. The European Union (EU), Canada’s second-largest trading partner represents a vital anchor, with two-way trade reaching $161.9 billion in 2024.
Ambassador Campbell outlined four priorities guiding Canada’s trade approach:
- Deepening ties with the EU, ensuring Canada-European Union Comprehensive Economic and Trade Agreement (CETA)’s potential is realized to its fullest, strengthening economic resilience.
- Removing interprovincial trade barriers, ensuring Canada functions as one economy to support global competitiveness.
- Trade diversification with reliable partners and countries.
- Pursuing a new economic and security agreement with the U.S., while hedging risk through broader global engagement.
Her message was clear: Canada is a long-term player and must act with purpose to remove trade barriers. Business and government must partner closely to seize opportunities in Europe and beyond. This urgency resonated with members who emphasized the need to remove barriers that hinder access to EU market.
Committee Discussions:
The morning also featured focused sessions from each of the Board’s four policy committees. Key themes and insights included:
- Transportation, Infrastructure & Land Use Committee
- Members discussed next steps for the Board’s Congestion Action Plan, which received support from Toronto City Council. The discussions focused on implementation momentum, transit/service integration, and priorities ahead of our upcoming Infrastructure symposium.
- Energy & Climate Committee
- The committee explored Canada’s permitting reform agenda and Ontario’s potential as an energy superpower. The Board also previewed an upcoming spotlight report on clean energy competitiveness.
- AI & Innovation Economy Committee
- Building on the Complacency to Competitiveness report, discussions focused on commercialization, SME adoption, and recommendations to maximize the impact of the Canada Innovation Corporation.
- Talent Ecosystem Committee
- The group weighed strategies to strengthen Ontario’s Immigrant Nominee Program (OINP) and scale micro-credentialing. The Board also shared updates on work-integrated learning pilots.
Looking Ahead:
The next round of Policy Committee meetings will kick off in Fall 2025 with our annual Policy Priority Setting Session (PPSS) on September 9th, 2025, as we launch into a new committee meeting cycle. We look forward to building on this momentum with our members and partners across the region.
