Canada endorses OECD joint statement on supporting global economic recovery from COVID-19

From: Global Affairs Canada

News release

October 6, 2021 - Ottawa, Ontario - Global Affairs Canada

International cooperation is essential to addressing the health, economic and social crises stemming from the COVID-19 pandemic, and to building back a stronger global economy that is more inclusive, green and sustainable.

Over the last two days in Paris, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, and the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, attended the 2021 Ministerial Council Meeting of the Organisation for Economic Co-operation and Development (OECD).

Minister Ng joined the in-person ministerial meetings to discuss the shared values and priorities of OECD members, and to advance initiatives such as the Global Relations Strategy—an initiative co-led by Canada. The Minister underscored the importance of achieving environmentally sustainable growth that produces meaningful economic, social and health-related outcomes, the benefits of which are shared by everyone. She emphasised that preparing for a digital future is especially key for driving this inclusive and sustainable economic growth. 

On the theme of inclusive trade, Minister Ng shared Canada’s best practices in addressing trade and labour standards in international trade agreements to benefit workers and communities. She also met with Mathias Cormann, the recently-appointed Secretary-General of the OECD, to discuss Canada’s approach to trade that benefits and provides opportunities that can be more widely shared, including support to accelerate OECD’s work to empower more under-represented groups such as women, SMEs and Indigenous peoples.

Concurrently, Minister Ng attended a ceremony with her counterparts from Chile and New Zealand to formally welcome Mexico as a member of the Inclusive Trade Action Group (ITAG). Mexico also presented its official documents to ITAG members to join the Global Trade and Gender Arrangement (GTAGA). The Arrangement highlights the importance of mutually supportive trade and gender policies, and of removing barriers to women’s participation in trade as part of broader efforts to achieve equality and women’s economic empowerment.

Joining virtually, Minister Fortier represented Canada in a ministerial discussion on building an inclusive future. Minister Fortier emphasized the need to level the global playing field to ensure an inclusive and sustainable recovery from the COVID-19 pandemic for all economies. She highlighted Canada’s action to address gender inequalities, address systemic barriers to economic participation and tackle the she-cession.

Minister Fortier also discussed Canada’s new Quality of Life Framework, which is organized into five interrelated domains: prosperity, health, environment, society and good governance. The Framework will bring a well-rounded, inclusive and sustainable perspective to policymaking by considering the potential impacts of policies on a range of outcomes, across different sexes, genders, regions, sectors, ethnicities, ages and income levels.

OECD members, including Canada, endorsed a joint statement on their commitment to supporting the global economic recovery from the COVID-19 pandemic, and to building a more sustainable, inclusive and resilient future.

Quotes

“Canada is committed to open and transparent market economies and a rules-based international trading system. We will continue to work closely with our OECD partners on shared priorities that reflect our common values, with a focus on ensuring a recovery from the COVID-19 pandemic that is resilient, inclusive and sustainable and which provides opportunity, prosperity and well-being for all.”

- Mary Ng, Minister of Small Business, Export Promotion and International Trade

“The COVID-19 recession has disproportionately affected low-wage workers, young people, women and racialized groups, and closing these gaps and leveling the playing field will be critical to securing an inclusive and sustainable recovery. Canada will continue making investments to ensure that no one is left behind in the post-pandemic economic future.”

- Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance

Quick facts

  • The OECD is an international organization whose goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.

  • The OECD is comprised of 38 members from North America, South America, Europe and the Asia-Pacific region, and along with its key partner countries, represents about 80% of world trade and investment.

  • Canada is 1 of the 20 founding members of the OECD (and a member since 1961).

  • Established on the margins of the 2018 Asia-Pacific Economic Cooperation Leaders’ Summit, the Inclusive Trade Action Group (ITAG) aims to advance inclusive trade initiatives globally.

  • On August 4, 2020, ITAG ministers signed the stand-alone Global Trade and Gender Arrangement, which commits each participant to advancing gender responsive and inclusive trade by removing the barriers that women and all genders face when participating in trade.

  • Studies show that by advancing gender equality and women’s participation in the economy, Canada could add up to $150 billion to its GDP by 2026.

Associated links

Contacts

Chris Zhou
Office of the Minister of Small Business, Export Promotion and International Trade
343-551-0457
chris.zhou@international.gc.ca

Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
Follow us on Twitter: @CanadaTrade
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Isabella Brisson
Senior Communications Advisor & Press Secretary
Office of the Minister of Middle-Class Prosperity and Associate Minister of Finance
579-337-5723
Isabella.brisson@fin.gc.ca

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

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