Astrid von Schmeling 2026-06-23 Astrid von Schmeling 2026-06-23

Canada and Sweden’s strategic partnership and what it means for business

A partnership founded on shared values and common interests, the Strategic Partnership ‍ ‍between Canada and Sweden was signed in November 2025 by leaders of both governments. It strengthens our cooperation across five pillars and reflects the rich and deepening ties between our peoples, governments, institutions, and businesses.It All Begins Here

On 18 November 2025, Prime Ministers Mark Carney and Ulf Kristersson signed the Canada-Sweden Strategic Partnership, surrounded by the pomp and ceremony that only a state visit by a King and Queen can bring. The partnership connects two like-minded nations, NATO Allies, and trading partners, committing them to a political framework to turn shared values into shared value.

“The visit made it very clear: our relationship, which was already strong, grounded in shared values and strategic interests, has a momentum and a relevance that is carrying us toward even deeper cooperation,” Canadian Ambassador to Sweden Robert Sinclair underlined at the launch of the Canadian Chamber of Commerce recently in Stockholm. “This is why, during the visit, our two countries entered into a Strategic Partnership Agreement — a framework that sets out concrete action across five pillars.”

Our partnership is grounded on shared priorities to increase trade. Sweden has a legacy as an exporting nation that spans centuries, and Canada has a stated intention to double its non-US exports by 2035, positioning itself as an energy superpower and a supplier to like-minded partners. Both economies are diversifying away from dependencies and broadening their focus to find reliable trading partners.

A match made in heaven? Maybe. But it needs concerted effort, long-term thinking, and the input of business to make it a reality. For businesses on both sides of the Atlantic, the partnership creates a political platform for deeper commercial, industrial, and research ties, and the impetus to create something that will last and secure certainties in this more volatile global business climate.

A relationship already in motion

Canada was listed as Sweden's 14th largest export markets in 2024, so there is certainly room to grow. At the same time, bilateral merchandise trade reached CAD 6.2 billion in 2025, an increase of 135 % since 2016. This is driven in large part by the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which eliminated tariffs on virtually all Swedish exports to Canada. According to the Government of Sweden (August 2025), roughly 130 Swedish subsidiaries operate in Canada, with more represented through distributors, and around 85 Canadian companies are established in Sweden.

Grounded on five interconnected pillars

The Strategic Partnership organises cooperation across five pillars, each with designated government coordination and a defined scope. The Canadian Chamber’s strategy is shaped around these five pillars, giving its mission clarity and greater urgency. The five pillars:

Economic development, competitiveness, trade, and investment
Security, defence, and resilience
Arctic cooperation and North-North connections
Digital transition, research, science, innovation, technology, health, and life sciences
Climate, environment, and energy

For business, the pillars read as opportunity: from access to critical minerals and battery value chains, defence industrial partnerships, Arctic infrastructure, life sciences collaboration, decarbonised steel, and fossil-fuel free electrification. These are sectors where Canadian resources and markets, and Swedish industrial and engineering knowhow, are often complementary.

The Chamber’s role

At our launch, Ambassador Sinclair explained to an audience of business leaders what he’d like to see from the Chamber, “The Chamber will also hold governments’ feet to the fire and keep us focused on getting things done. Because now is not the moment to be timid. Our leadership has extraordinary public license to do things that were unthinkable just a short while ago. Think Sweden and NATO, and Canada being the first to ratify Sweden’s accession. Think 5% of GDP. Think Global Eye. And with that license comes an obligation to deliver. That’s the contract.”

“The Chamber can help us honour that contract by thinking outside the box, doing things that maybe are a little outside an embassy’s wheelhouse, and by helping to form partnerships, generate investments and grow business and the ties that bind us together. “

From launch to action

The Strategic Partnership is a framework built for implementation. The two governments are developing an action plan with actions under each pillar. Instruments include business meet-ups, roundtables, and conferences, memoranda of understanding and agreements, joint projects and cooperation platforms, regular political and civil servant consultations, personnel exchanges, and joint engagement with businesses, academia, and civil society.

Global Affairs Canada and Sweden's Ministry for Foreign Affairs coordinate the overall application of the partnership, with progress reviewed annually. Momentum is already visible. The two prime ministers met again in Davos in January 2026 and agreed to accelerate cooperation on information sharing and on Arctic and Euro-Atlantic defence and security, building directly on the November framework. The first follow-up on the partnership's progress was held in Ottawa on 8 June, where the Canadian Chamber of Commerce in Sweden had a seat at the table.

The business take-away

Strategic partnerships succeed when governments open doors and businesses walk through them. This Partnership invites private sector engagement. The early proofpoints, from GlobalEye to energy solutions, and collaborations that stretch from mining to AI show that commercial outcomes follow political alignment when the business logic is sound.

– Astrid von Schmeling, Deputy Chair, Canadian Chamber of Commerce

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