Luxembourg, Canada Discuss Strengthened Financial Cooperation in Strategic International Context

From Saturday 18 to Wednesday 22 October 2025, Luxembourg's Minister of Finance, Gilles Roth, undertook a working mission to Canada, with stops in Montreal, Ottawa, and Toronto, alongside Luxembourg for Finance (LFF).

According to Luxembourg's Ministry of Finance, this mission aimed to deepen ties between the two countries in the field of financial services, support cross-border investment and promote cooperation in innovation, sustainable finance and talent development.

Minister Roth stated: "This mission took place in the context of Canada's presidency of the G7 in 2025, a strategic opportunity for Canada to strengthen its role on the international stage and promote economic partnerships with countries like Luxembourg."

In Montreal, Minister Roth held bilateral meetings with Éric Girard, Quebec's Minister of Finance, to discuss the economic situation, competitiveness and prospects for collaboration between financial ecosystems. The fact that Luxembourg's financial centre combines a high level of English proficiency with fluency in French is considered a major asset for strengthening economic ties with Quebec, according to the ministry.

In Ottawa, Minister Roth met with François Philippe Champagne, Canada's Minister of Finance and National Revenue, who currently chairs the G7 Finance Ministers' Meetings, to discuss economic and geopolitical priorities, capital market integration and investment opportunities between Luxembourg and Canada. The two ministers agreed to strengthen bilateral relations in the field of financial services, given the largely untapped potential, at a time when both countries must invest significantly in strategic areas such as cybersecurity, defence and the green transition.

The programme also featured a working session with McGill University and a presentation by Minister Roth to students at the Desautels Faculty of Management in Montreal, focusing on European competitiveness, innovation and the financial careers of tomorrow. These discussions focused on skills development and academic ties with McGill's new master's programme in Luxembourg, which will be McGill University's first location and programme in Europe (for more on this, see: https://chronicle.lu/category/finance-1/55443-mcgill-university-to-launch-master-of-management-in-finance-in-luxembourg).

Throughout the mission, Minister Roth met with the heads of several Canadian financial institutions in Montreal and Toronto. The discussions, centred around strengthening economic and financial relations between Europe and Canada, focused in particular on bilateral investment flows, the presence of these players in the Luxembourg financial centre and future development prospects, notably in the areas of capital markets, investment funds, private assets and financial technologies.

Minister Roth also visited the new Luxembourg Embassy in Ottawa (for more on this: https://www.chronicle.lu/category/abroad/55329-luxembourg-opens-embassy-in-canada). The ministry also noted that this visit took place in the year of the 80th anniversary of diplomatic relations between Luxembourg and Canada.

"This mission to Canada was dedicated to partnership and the sharing of common values ​​such as multilingualism, pragmatism and innovation," said Minister Roth. "Canada is increasingly looking to Europe to diversify its economy, and Luxembourg, with its international financial centre, can serve as both a gateway to the European Union and a platform for accessing European investors. A real dynamic is now building to deepen economic relations between our two countries and Luxembourg is ready to contribute fully. Together, we can intensify our cooperation, stimulate investment, create skilled jobs and strengthen the competitiveness of our economies." He also thanked "our Canadian hosts for their warm welcome and the quality of our discussions" and McGill University for "its commitment to training the talents of tomorrow."