Heads of G7 ECAs meet in Toronto

(UK Government, Toronto, 3 November 2022) The leaders of the official export credit agencies 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. The G7 ECA Heads focused on the impacts of the Russia/Ukraine war 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 OECD Arrangement on Officially Supported Export Credits. Acknowledging the themes expressed in the recent G7 Political Leaders’ Communique, 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. The next annual meeting of the ECA Heads will be held in Italy in 2023.