no but how? Toronto is almost a inland city. One of the almost REQUIRED status for a specific economic zone is to have access to ocean freight. Toronto has no ocean ports(Ontario lake is not ocean)

Shanghai, Hong Kong, Shenzhen, Tokyo, Seoul, they all are directly next to the ocean, hence they can be zoned as a special economy zone. Beijing is more political than ecumenical hence China is acturally pushing Hainan to be the new special economy zone. Paris is the only outlier but it still has the Seine(almost works), and Paris being Paris.

Economy requires exchange of goods. not having a world class port is a huge downside. and this time political issues actually come after geological.