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 organisations forward on digitalisation, 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 were unified in their strong desire to heighten their relevance to their nations’ exporters and explored ways to accelerate collective efforts to modernise the Arrangement on Officially Supported Export Credits.
Acknowledging the themes expressed in the recent G7 Political Leaders’ Communique, the ECA Heads recognised 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 organisations 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.
