The leaders of official export credit agencies (ECAs) from the G7 nations – Canada, France, Germany, Italy, Japan, United Kingdom and the United States of America – were hosted by Export Development Canada in Toronto, Canada to discuss a number of pressing geopolitical, economic and sustainability matters impacting exporters and global trade flows.
Discussions examined how the G7 ECA Heads are moving their organizations forward on digitalization, climate change, inclusive trade, and how ECAs can serve as strategic accelerators for the growth of small- and medium-sized exporters.
In light of Russia’s egregious invasion of Ukraine, the G7 ECA Heads focused on the impacts on global supply chains, energy security, and how ECAs can support their exporters through turbulent times and how they can work together to support Ukraine as it rebuilds.
The G7 ECA Heads are unified in their strong desire to heighten their relevance to their nations’ exporters and explored ways to accelerate collective efforts to modernize the Arrangement on Officially Supported Export Credits.
Acknowledging the themes expressed in the recent G7 Political Leaders’ Communiqué, the ECA Heads recognized the need for bold contributions to climate action, and discussed alignment of shared climate policy obligations and ongoing efforts to support companies through the global energy transition.
For the first time, the G7 ECA Heads invited Growing Professionals from within their organizations to participate in the meetings. This mentorship initiative is in the spirit of fostering the next generation of international trade professionals. The Growing Professionals’ own Joint Statement is enclosed herein.
The G7 ECA Heads agreed on the importance of more frequent engagement and collaboration to ensure meaningful progress on these issues and will meet virtually in December 2022. The next annual meeting of the ECA Heads will be held in Italy in 2023.
Joint Statement of the Growing Professionals from the G7 Export Credit Agencies
On October 27 and 28, Growing Professionals from the G7 Export Credit Agencies (ECAs) met for the first time in Toronto to conduct an agenda parallel to the 2022 G7 Heads of ECAs meeting.
The discussions explored the role of ECAs in times of uncertainty and the group presented thoughts and ideas on what the ECA of the future looks like, how risks can be turned into opportunities and the merits of inspiring and engaging the future leaders in the international trade profession.
We commit to continuing the dialogue within the first cohort and transferring this knowledge back to our respective ECAs in order to make collective and positive impact on trade through export finance.
Through trade and dialogue we can seize opportunities for a better world.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.