Voyageur 154
Carney Courts the Money That Left, and Ecuador Deal Gives Canada Another Door.
News for residents of the “11th province”: Canadians abroad.
Please don’t forget to share, subscribe or send feedback.
Carney Courts the Money That Left
PM Mark Carney is trying to pull a trillion dollars of runaway foreign capital back to Canada, with a two-day investment summit that will be running in Toronto on September 14 and 15.
Global News says the summit is expected to bring international business leaders, CEOs and institutional investors together as Ottawa pitches major projects. RBC has described the past decade as Canada's biggest modern capital exit, with $2 leaving the economy for every $1 that came in. Yikes.
This is where the maple leaf meets the money map. A country that can attract capital has more capacity to build airports, energy projects, mines, ports and the boring infrastructure that makes long-term growth sustainable. A country that can’t raise money has fewer choices, and growth is likely to be strangled.
The guest list is still fuzzy, we’ll know in September how many people are willing to show up with chequebooks.
Read more: Global News
Advertisement:
A photo from the old country:
Ecuador Deal Gives Canada Another Door
Canada and Ecuador were able to get a free trade deal over the line in Ottawa on Friday, the latest small but deliberate step in Canada's hunt for trade routes that go almost anywhere but through Washington.
Canada's National Observer, carrying The Canadian Press, says the pact will have Ecuador effectively remove tariffs from all Canadian imports. Ottawa says bilateral trade with Ecuador was almost $2.2 billion in 2025. The signing had no public event, which is seems overly low-key for a deal that took more than two years of talks.
It seems clear that there won’t be a rush of people to suddenly move to Quito with a briefcase full of maple syrup, but Ottawa is making some headway in making Canadian business feel less trapped by our friends directly south. For Canadians in Latin America, or anyone running a Canadian company from abroad, the smaller trade doors can make a big difference, even when the deal is unaccompanied by fanfare.
Read more: Canada's National Observer / Global Affairs Canada