Canadian PM on G20, Global South, and Shifting Global Economy

Shifting Global Economic Landscape

• 🌍 The G20 summit represents a significant portion of the world's population, GDP, and trade, even with the United States' absence.
• 📈 The speaker notes a shifting center of gravity in the global economy, moving from concentrated power to a diffusion of technology, energy, and influence.
• 🌱 This shift is characterized by the rise of the Global South and new, important roles for middle powers like Canada in multilateral arrangements.

Canada's Economic Strategy

• 🇨🇦 Canada aims to prosper under this global shift by implementing a new economic strategy.
• 🤝 This involves signing new deals with partners, diversifying trade, and attracting billions of dollars in new investment.

G20 Priorities and Multilateralism

• 🎯 The G20, under South Africa's presidency, is focused on solidarity, equality, and sustainability, which Canada strongly supports.
• 🌉 Canada views the G20 as a crucial bridge for cooperation, especially as some countries retreat into geopolitical blocs or protectionism.

Deepening Partnerships in Africa

• 🇿🇦 Canada has deepened partnerships at the summit, including opening FINDev Canada's new office in Cape Town to finance sustainable development and connect Canadian firms to African opportunities.
• 💡 Discussions have begun with South Africa on a foreign investment protection agreement to boost private sector engagement in infrastructure, clean energy, and minerals.
• ⛏️ Progress was made on a critical minerals production alliance, securing South Africa's agreement for cooperation on responsible sourcing and investor protection.

Navigating Global Challenges

• ⚠️ Despite progress, multilateralism faces significant challenges, with its nature currently in flux.
• 🇺🇦 Canada is a core member of the "coalition of the willing" regarding the Ukraine peace plan, forming a common position with European leaders and Japan.
• 📞 This common position has been communicated, with national security advisors following up and the PM scheduled to speak with President Zelenskyy.