Photo: Samuel Tessier
Last week, the business federations of the G7 nations met for the 2018 B7 Business Summit, which we hosted in Québec City. The Summit is the premier event for business representatives from G7 member countries to gather and discuss key issues facing the global economy, including growth, trade, innovation and productivity.
The Summit also marked the end of a months-long process to develop key universal recommendations for the G7 leaders ahead of their summit, which takes place this June in Charlevoix, Québec. We are proud to share these recommendations, compiled in a summary letter or more fully in the 2018 B7 Declaration, with you. We have also prepared a letter from our Host Committee that provides the Canadian perspective of the B7 themes.
The declaration from the B7 outlines specific strategies to mold the global economy towards a more inclusive and prosperous future, despite the many challenges the countries of the G7 are currently facing. The declaration includes 18 recommendations that centre around three themes: resource efficiency, inclusive growth and scaling-up small business.
These recommendations are rooted in the principal belief that growth generated by freer trade provides the best tool to lower poverty, creates a more prosperous middle class and raises living standards for all. Businesses and governments must unite against protectionism to preserve the role of open markets and global trade. It is imperative that we uphold our trade agreements and create new ones and by strengthening institutions, like the World Trade Organization, that form the backbone of the global trading system.
The B7 Business Summit featured discussions with prominent figures from around the world and from the Canadian Government. Prime Minister Justin Trudeau spoke at the welcoming breakfast, and many Cabinet ministers participated in theme discussions, including the Hon. François-Philippe Champagne, Minister of International Trade; the Hon. Bill Morneau, Minister of Finance; the Hon. Jean-Yves Duclos, Minister of Families, Children and Social Development; and, the Hon. Bardish Chagger, Minister of Small Business and Tourism. Parliamentary Secretary Kim Rudd and Parliamentary Secretary Joel Lightbound also participated.
The B7 Business Summit Host Committee, which is led by our President and CEO, the Hon. Perrin Beatty, and co-chaired by Dawn Farrell, President and CEO, TransAlta Corporation and Director, Business Council of Canada, and Monique F. Leroux, Chair of the Board, Investissement Québec and former President and CEO, Desjardins, oversaw the event.
For more information, please visit www.b7canada.ca.
Letter from the Host Committee