New and expanded agreement creates the conditions for businesses to thrive and for workers on both sides of the border
Ontario has renewed and expanded a trade agreement with the State of Maryland, aiming to deepen cooperation in life sciences, information technology and clean energy as part of the province’s plan to build what it calls the most competitive economy in the G7.
Premier Doug Ford said the Memorandum of Understanding strengthens a longstanding partnership rooted in innovation and shared economic priorities. “By rejecting tariffs and trade barriers and building Fortress Am-Can … we can support workers and businesses in Maryland and Ontario while attracting investment and exchanging cutting-edge innovations and technologies,” Ford said in a statement.
Maryland Governor Wes Moore said the strengthened relationship will help fuel growth in sectors both jurisdictions are trying to expand. “We are proud to double down on Maryland’s friendship with Ontario,” Moore said. “By expanding … to include key sectors like life sciences and I.T., we are furthering Maryland’s leadership in industries of the future.”
The new agreement builds on an MOU first signed in 2020 and reinforces efforts to improve North America’s economic competitiveness by reducing trade barriers. Ontario’s Minister of Red Tape Reduction, Andrea Khanjin, said the province is focused on keeping its economy “open, competitive and ready for growth.”
Goods traded between Ontario and Maryland totalled $2.7 billion in 2024. Officials say the updated MOU will help businesses on both sides of the border collaborate more effectively and adapt to global economic shifts.
Maryland Commerce Secretary Harry Coker Jr. said the two regions share priorities ranging from digital-economy development to climate-change solutions and that continued communication will “strengthen ties between both regions.”
Since 2023, Ontario has signed similar economic cooperation agreements with Indiana, Michigan, Nevada, Illinois and New Jersey.
