During a visit to Brazil, Minister of Trade Victor Fedeli highlights strategic sectors, a pro-investment environment, and bilateral opportunities for Brazilian companies
By Pedro Augusto
Ontario, the economic engine of Canada, is turning its attention to Brazil to strengthen trade relations and expand bilateral investment. The message was reinforced by the Province’s Minister of Economic Development, Job Creation and Trade, Victor Fedeli, during a visit to the country in November. On the occasion, he met with business leaders and representatives of industry associations and the Brazilian government in search of new partnerships, with support from the Chamber of Commerce Brazil–Canada (CCBC).
Today, according to CCBC data, trade between Brazil and Ontario represents one of the main pillars of the bilateral economic relationship. In 2024, Brazil was Ontario’s 10th largest exporter, with USD 3.96 billion in sales—mainly gold, aluminum, aircraft, and sugar—reflecting the strength of the mining, agribusiness, and aerospace sectors. In the opposite direction, Ontario exported USD 336 million to Brazil, led by pharmaceuticals, aircraft parts, and nickel powder, underscoring the importance of the chemical and pharmaceutical industries in the partnership. In this context, the trade balance shows a surplus of USD 3.5 billion in Brazil’s favor.
According to the minister, the global landscape calls for closer ties among countries with high potential for cooperation. “There has never been a more important moment for companies and governments around the world to come together, given the current international climate of change,” he said. The minister also emphasized Brazil’s relevance to Canada and to the province he represents. “Brazil is a very important trading partner for Canada and for Ontario.”
Among the areas with the greatest potential for cooperation, Fedeli highlights three priority pillars: agribusiness, defense, and investment. In agribusiness, about 10% of bilateral trade already involves food and agricultural products. “It is a very important sector for us,” the minister noted.
For Fedeli, geopolitical shifts and the new trade landscape shaped by the United States have helped drive fresh opportunities. “The current environment makes Defense a truly critical sector; there are significant opportunities for companies from Brazil and Ontario to work together on strategic projects,” he said, mentioning the sharp increase in European investment in the sector.
The minister’s visit also aimed to present Brazilian companies with Ontario’s competitive advantages as an investment destination. The province currently has one of the most dynamic ecosystems in North America. “In Ontario, we have all the pieces companies need to grow: clean and stable energy, a strong innovation environment, a highly skilled workforce, and one of the best education systems in the world,” he emphasized.
In terms of investment, flows between Brazil and Ontario have been gaining relevance. As Canada’s financial and commercial hub, Ontario receives a significant share of the USD 2.2 billion invested by Brazilian companies in Canada, including CCBC member companies such as Biolab and Stefanini. In the opposite direction, Ontario-based companies account for a substantial portion of the USD 23.2 billion invested by Canadians in Brazil, including members such as Kinross and McCain. This landscape points to significant untapped potential in sectors such as life sciences, infrastructure, and innovation.
The visit to Brazil marks a strategic effort by the Ontario government to strengthen its global presence and identify opportunities in emerging markets. For the minister, Brazil is a natural partner in this process, both because of the strength of its industry and the cultural proximity developed between Brazilian and Canadian communities.
“Ontario and Brazil have a long and very positive relationship in trade,” he said. “Now is the ideal time to make this relationship grow,” Fedeli concluded.
