On the evening of May 27th at Tartu College, the Toronto Estonian community gathered together with an Estonian parliamentary delegation, the Attorney General of Ontario, and Canadian business leaders for the highly anticipated launch of the Estonian Canadian Business Chamber. Hosted by KESKUS and generously sponsored by Northern Birch Credit Union, this event signalled a new stage for commerce, trade, and investment between Canada and Estonia, enabling vital professional connections.
Before and after the formal program, attendees—which included accomplished professionals from the Toronto Estonian community—seized the opportunity to network and connect over hors d’oeuvres and drinks. The evening also served as a crucial initial membership drive for the new chamber.
“The establishment of this Estonian Canadian Business Chamber… echoes that priority to focus on reliable trading partners.”
(Ellen Valter)
The program, guided by Ellen Valter, project lead for the more than $50 million KESKUS construction project, underscored the chamber’s strategic importance. Valter opened by aligning the chamber’s establishment with Canadian Prime Minister Mark Carney’s mandate to strengthen global trade partnerships: “The establishment of this Estonian Canadian Business Chamber… echoes that priority to focus on reliable trading partners,” Valter stated, noting Canada’s $152 billion annual trade with the EU and Ontario’s economic prowess. She explained KESKUS, set to open in a year, will support the chamber, but its direction will be “informed purely by ongoing business interests. It’s up to us in this room to take it forward.”
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Valter emphasized Estonia’s digital talents, calling it a “pioneer in e-governance and digital transformation,” offering valuable expertise to Canada. Conversely, Canada's diverse economy provides fertile ground for Estonian entrepreneurs. “This chamber will promote and advocate for the exchange of technological know-how, foster innovation driven growth,” she added.
Ambassador Margus Rava, Estonia’s Ambassador to Canada, was personally thanked by Valter for his indispensable support. The event welcomed a ten-member Estonian parliamentary delegation, led by the Honourable Mario Kadastik, an Estonian Member of Parliament, Nuclear Energy Support Group member, and physicist. Kadastik detailed their visit’s focus on nuclear energy, noting Canada’s leadership in Small Modular Reactors. “Estonia is very actively pursuing now a move towards nuclear energy… as Canada is a front runner, we wanted to get a full in-depth view,” he explained, highlighting existing collaboration and potential “joint projects.”
The Honourable Doug Downey, Attorney General for Ontario, also expressed enthusiasm. “I’m truly thrilled to be here,” he said, citing recent global events bringing nations closer. Downey shared how Estonia inspired Ontario’s “digital transformation project” in the courts, adding that “Estonia was very helpful in terms of thinking about… how do we allow it to grow with innovation?”, praising Estonia's “ability to add on and improve.”
NEO Performance Materials’ strategic investments in Estonia, including two rare earth facilities… were both completed on time, on budget, and on spec. He attributed this success to Estonia’s “digital maniacs”…
Vasileios Tsianos, VP of Corporate Development for NEO Performance Materials, offered a compelling case study. Tsianos, who has spent considerable time in Estonia, expressed deep admiration. He detailed NEO Performance Materials’ strategic investments in Estonia, including two rare earth facilities—one of the only industrial-scale separation facilities outside of China, and a permanent magnet facility—both completed on time, on budget, and on spec. He attributed this success to Estonia’s “digital maniacs” who embrace AI, and its proactive nuclear energy development. “There will be a phase two. There will be a phase three, more investment in Estonia,” he affirmed, eager for NEO Performance Materials to join the chamber.
Anita Saar, President and CEO of Northern Birch Credit Union, the event’s sponsor, reiterated her organization's commitment to the Estonian and Latvian communities, highlighting the Estonian side’s seventy-one-year legacy, the Latvian side’s sixty-six year legacy, and five years together as NBCU. “We are just so thrilled to be here and participate in this launch tonight,” Saar expressed, noting their full range of financial services.
David Riggs, General Manager for Hopp (the Canadian brand of Estonian mobility company Bolt), shared Bolt’s success story. Founded by a nineteen-year-old, Bolt became a unicorn “in excess of one billion in valuation” in just five years. Riggs credited Hopp’s rapid Canadian growth—reaching second place in this market within three months—to Bolt’s innovation culture and the invaluable support of the Estonian expat community. “Whenever we ask for help, there’s always somebody there to open doors for us,” he noted, proclaiming Hopp as proof that “Canada is open for business.”
Valter concluded by encouraging membership, offering a 10% discount for the launch night ($90 individual, $300 corporate). She outlined plans for the chamber, including a website and activities starting in the fall.
The launch of the Estonian Canadian Business Chamber marks a significant step towards deepening economic ties, facilitating innovation, and cultivating enduring professional relationships between Canada and Estonia.
Keep an eye on the KESKUS newsletter for more information about the business chamber before activities start in the fall.
