Global Response

The Canadian Chamber of Commerce is Canada’s representative to a number of international business groups, including the International Chamber of Commerce, Business at the OECD, the B7, the B20, the Global Business Coalition and the Global Services Coalition.

In the context of COVID-19, the work occurring within these bodies is critical for deciding policies that will affect our country’s response to the crisis, the restarting of the economy and the long-term recovery.

Top Issues

• Business at OECD 2020 Economic Policy Survey Results: Business at OECD annually surveys the lead business organization from each of its member countries. Key highlights from the 2020 survey included: 95% of companies perceiving the current business environment to be weak versus only 16% in 2019; 75% of respondents expecting this economic downturn to be worse than the 2008-09 financial crisis; and only half of respondents view OECD government responses to be sufficient to supporting the economy. Key policy measures needed looking ahead include liquidity, combatting protectionism, and support for labour markets.

• The Global Business Coalition Members Call to G20 for Measures to Enable Global Supply of Vital Protective Gear, Medicines and Medical Supplies: As countries around the world impose various restrictions on medical equipment and supplies, leading business associations around the world have made it clear to their governments that export controls on these lifesaving products is ultimately detrimental to our collective global interests.

• Ensuring Resilience of Global Supply of Essential Services in Combating COVID-19: Services play a critical role in the economy and even more so in the current context. Leading business groups representing the services sector joined together to outline to governments the crucial role of services in response to COVID-19. This includes the role of services enabling the movement of goods as well as the provision of services digitally to consumers and businesses.

• Guidance Paper on the Impact of COVID-19 on Trade Finance Transactions Issued Subject to ICC Rules: Timely access to trade finance enables global commerce. The ICC has published guidance for companies under its mandate to develop trade finance best practice guidance that support the flow of goods during the COVID-19 pandemic.

• International Chamber of Commerce: 10 Ways Trade Can Help SMEs: SMEs compose 90% of the companies across the globe and 50% of all employment. They rely on access to foreign markets to grow and provide jobs. Governments can use trade measures, such easing border restrictions and shifting towards paperless customs procedures, to assist SMEs during the COVID-19 recovery.

KPMG: Global landscape

This resource offers a global overview of government and institution measures by country and topic (tax, employment, economic, and others) in response to COVID-19. The information is updated regularly.

Access the reports here.

More Information

• Business at the OECD

  The Organization for Economic Co-operation and Development (OECD) is a key global forum for decisions and best-practice standard setting on a range of issues that affect businesses. The OECD is currently engaged in providing benchmarking on policy responses to COVID-19 and developing measures to help the re-start of national economies. Business at OECD is the OECD’s officially recognized business advisory group, and the Canadian Chamber has the ability to nominate members to participate in Business at OECD advisory committees.

  • Tackling the coronavirus (COVID-19) crisis together
  • Key policy responses from the OECD
  • Business at OECD tax priorities amid COVID-19
  • Business at OECD recommendations to combat trade in illicit products during COVID-19 and future pandemics
  • Business at OECD agriculture policy recommendations in response to COVID-19
  • Equity injections and state ownership of enterprises during the COVID-19 crisis

• International Chamber of Commerce

  The International Chamber of Commerce (ICC) is the world’s largest business organization, representing companies of all sizes and in all regions of the world. The ICC advocates for the interest of the global business community in a range of international institutions and writes global standards in areas such as trade finance. As the National Committee for Canada, the Canadian Chamber is the avenue for businesses to become involved in ICC activities.

  • G20 Trade Ministers Letter
  • Joint Letter to G20 Heads of State and Government
  • Joint Letter from ICC, the B20 and WHO Calling on G20 Leaders to Respond to COVID-19 Pandemic
  • World Health Organization Joint Statement on COVID-19
  • Guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules
  • ICC calls for urgent action to “Save Our SMEs”
  • International Chamber of Commerce and World Customs Organization joint statement on supply chains

• Global Business Coalition

  The Global Business Coalition (GBC) is an association of the world’s largest business federations in industrialized countries. In response to COVID-19, the 16 members of the GBC are advocating for critical action by governments to ensure the functioning of cross-border supply chains.

  • Call to G20 for Measures to Prevent the Spread of COVID-19 and Mitigate Its Effects on People and Markets
  • Call to G20 for Measures to Enable Global Supply of Vital Protective Gear, Medicines and Medical Supplies
  • Joint Statement on Air Cargo

• Global Services Coalition

  The Global Services Coalition (GSC) represents interests of the services industry and works to ensure companies providing services remain competitive internationally. The Canadian Chamber is represented through its Canadian Services Coalition group.

  • Ensuring Resilience of Global Supply of Essential Services in Combating COVID-19

• G20

  The G20 is the key decision-making body for the world’s 20 largest economies. The Canadian Chamber is the lead organization in Canada for the B20, which is the official business advisory group to G20 governments. The G20 sets the global economic agenda that has an impact on the work of expert institutions in response to COVID-19.

  • G20 Trade and Investment
  • Joint Statement on Employment, Skills and Women
  • G20 Labor and Employment Ministers’ Statement on COVID-19
  • Comparison between B20 Statement on Finance & Trade, and G20 Action Plan on COVID-19
  • G20 Extraordinary Agriculture Ministers Meeting Statement

• Video resources

   

  Mark Agnew, our Senior Director of International Policy, talks to you about the international work we’re currently doing in response to COVID-19. The Canadian economy can’t be isolated from global markets despite this pandemic given that trade is 60% of our GDP.