The third Toronto Economic Forum, held in the heart of Toronto on November 7, marked a significant step forward in the economic and political collaboration between Greece and Canada. This year’s event, attended, among others, by Ontario Premier Doug Ford and Greek Deputy Minister of Development and Investments Nikos Papathanasis, discussed critical areas where the two countries seek to enhance cooperation, such as energy, trade, joint ventures, innovation and nutrition.
Greek delegates emphasized the country’s economic reforms and open investment climate. Deputy Minister Papathanasis conveyed Greece’s ambitious reform efforts aimed at drawing international investment. “Greece has become an attractive country for investments,” he said, attributing this change to streamlined regulations and targeted incentives aimed at spurring growth in sectors such as tourism, technology and energy. Papathanasis stressed that, in addition to common values and democratic principles, Greece and Canada share a deep commitment to multiculturalism and the rule of law, laying the groundwork for enduring diplomatic and business relations.
An important moment in the forum came when the founder and chief data scientist of the Nanos Research Group of Companies in Canada, Nik Nanos, presented his research on the improved image that Canadians have of Greece, as recorded in the last decade, and the factors that played a role in this development. Nanos said that in 2013, Canadians were three times more likely to have an unfavorable impression of Greece compared to a favorable one. However, this trend has reversed and today Canadians are five times more likely to have a favorable view of our country. Several factors have contributed to this positive shift, among which are the perception of Greeks as welcoming people, the fact that Greece is a safe place to visit and the country’s attractiveness as a holiday destination. These views are described as “gateways” to further discussions about Greece’s reputation as a NATO ally and as a viable destination for investment.
Another factor for the positive change was the visit of the Greek Prime Minister Kyriakos Mitsotakis to Canada a few months ago. “I don’t think we can underestimate the importance of diplomacy, the work that the embassy and consulate in Canada do in terms of promoting the interstate relationship. I don’t think we can underestimate, also, the importance and the opportunity of the visit of the Greek prime minister, Kyriakos Mitsotakis, to Canada to talk about Greece, to talk about transnational cooperation, to talk about all the available opportunities,” he said.
Nanos pointed out that despite all this, about one in five Canadians remain uncertain about their views on Greece, which suggests that more needs to be done, with an emphasis on highlighting Greece’s role as a NATO ally, particularly in a time of geopolitical turmoil. “I would say that in a world where there is uncertainty in the Middle East and in a world where there is uncertainty between Russia and Ukraine and between China and the United States, the narrative that Greece is, not only an economic partner, not only a place of beauty, a place to vacation, but as a NATO ally it has a role in stability, I think that’s an opportunity,” he added.
In the panel discussions that followed, Greek and Canadian businesses showed interest in forming strategic alliances that could facilitate sustainable tourism and clean energy development. In line with the forum’s theme of economic recovery and growth, Canadian investors were encouraged to consider Greece’s evolving market landscape, especially in tourism and real estate, where a more robust regulatory environment has enhanced stability and opportunity.
While the forum celebrated growing diplomatic ties, discussions also touched on logistical challenges, such as the need for a memorandum of understanding to support year-round flights between Greece and Canada. Both Air Canada and Air Transat have been involved in negotiations to establish this link, which would not only boost tourism but also benefit trade and business activities.
From left: Constantine Katsigiannis, president of the Canada-Greece Chamber of Commerce, Greece; Maira Myrogianni, the Greek Foreign Ministry’s secretary-general for Greeks abroad and public diplomacy; Athanasios Balermpas, the Greek Interior Ministry’s secretary-general of interior and organization; John Sotos, co-president at The Hellenic Initiative Canada; Endy Zemenides, executive director at the Hellenic American Leadership Council; and Afroditi Xydi, executive director at the Deon Policy Institute, US.
In another panel titled “Connecting the Greek Diaspora with the Homeland,” Greek officials presented the 2024-2027 Strategic Plan for Hellenism Abroad, which aims to strengthen Greece’s ties with the Greek diaspora, the plan to establish postal voting in national elections, the improvement of the services provided by the consulates, the simplification and digitization of procedures related to the granting of citizenship, as well as simpler transactions of expatriates with the Greek state. “We can and must listen more to the people of the diaspora, the Strategic Plan is a very good start, we made an effort after many years,” said Maira Myrogianni, the Greek Foreign Ministry’s secretary-general for Greeks abroad and public diplomacy.
Athanasios Balermpas, the Interior Ministry’s secretary-general of interior and organization, said: “We have two types of Greek diaspora – those who are already Greek citizens and the people who want to become Greek citizens because they are of Greek origin. We have made great progress in providing information to people who want to become Greek citizens.”
For his part, John Sotos, co-president of The Hellenic Initiative Canada, said voting rights are not the only issue that concerns the Greek diaspora, noting the need to better staff consulates and digitize processes so that they are much more efficient. “Canada is a huge country and, for example, the consulate in Toronto serves an area that is probably ten times larger than the Greek mainland.”
Endy Zemenides, executive director of the Hellenic American Leadership Council in the US, expressed the opinion that the core of the Strategic Plan that was presented is “to get Greeks abroad to vote in Greece.”
“If that is the number one purpose to the exclusion of other things, we are not necessarily diaspora. We are not a constituency. Some of you may feel like a constituency. I don’t feel like a constituency,” he said, and countered: “I feel like a bridge. I am connected to all of you because we are all Greek.”
In a conversation following the end of the forum, Kathimerini’s Executive Editor Alexis Papachelas discussed Greece’s current challenges and the broader geopolitical landscape. As the forum’s honorary guest, he was interviewed by pollster Nik Nanos, who delved into pressing issues concerning Greece’s future, the US elections and Greek-American relations.
Addressing the most significant domestic challenges, Papachelas said there’s substantial work to be done in cutting red tape while there is a need for deeper reforms in the judicial system. He also said that while progress has been made in education, there is still a long way to go. Another problem is Greece’s ongoing demographic crisis and the severe impact of climate change, which is affecting Greece and all of Southern Europe.
Alexis Papachelas (right), Kathimerini’s executive editor, discussed Greece’s current challenges and the broader geopolitical landscape in a discussion with Nik Nanos, chief data scientist and founder of Nanos Research.
Papachelas also provided a thorough assessment of the international context, particularly the complex dynamics between Greece and Turkey, saying it “will remain a challenge for Greece and the West.” This unpredictability, he said, exacerbates the tension and makes strategic planning difficult. Additionally, he said that Greece must also navigate its responses to the evolving situations in Ukraine, the Middle East, and China – all with significant implications for the nation’s strategic interests. Reflecting on Greece-US relations, Papachelas highlighted the deepening alliance between the two countries. He emphasized that this partnership is essential for Greece as it navigates complex geopolitical shifts and strives to protect its national interests in an increasingly uncertain global environment.
The forum was organized by the Delphi Economic Forum, with the cooperation of The Hellenic Initiative Canada, the Hellenic-Canadian Chamber of Commerce and the Greek Embassy in Ottawa.