OTTAWA, CANADA — February 13, 2025 — The Canadian Chamber of Commerce has announced the overarching theme for the 2025 Business 7 (B7): "Bolstering Economic Security and Resiliency," which will set the tone for all activities throughout the year. This initiative highlights the pressing need for collective action amid increasing global uncertainty and geopolitical flux.
Canada, currently holding the B7 presidency, aims to tackle the concrete impacts of uncertainty facing businesses, striving to create a roadmap for resilience. "Economic security will not only act as the central focus for the B7 Summit program held May 14–16 in Ottawa but will also guide the policy recommendations contained in the 2025 B7 Communiqué," remarked Candace Laing, President and CEO of the Canadian Chamber of Commerce.
The summit emphasizes the importance of business roles in supporting prosperity and livelihoods across communities. It has secured the partnership of over thirty leading corporate entities from diverse sectors such as health sciences, technology, mining, and energy. Major players include the Boston Consulting Group (BCG), which serves as the official Knowledge Partner, and prominent companies like Microsoft and AWS.
"At AWS, we are committed to developing AI responsibly and helping businesses and workers across all sectors implement AI safely and effectively," said Nicole Foster, Director of Global AI/ML & Canada Public Policy at AWS. This reflects the summit’s focus on realizing the full potential of responsible AI as a catalyst for innovation and growth.
Beyond technological advancements, the B7 summit will address broader economic challenges, including the threat of protectionist measures from other nations, particularly the United States. Recent discussions have pointed toward the reality of tariffs on Canadian aluminum and steel exports, with analysts expressing concerns over the potential repercussions.
According to economists, Canada stands to be disproportionately affected due to its status as the US's most significant source for these metals. Prime Minister Justin Trudeau's government is reportedly exploring ways to mitigate such tariffs and diversify trade relationships, aiming to reduce reliance on the US.
"For far too long, we have lacked ambition and long-term vision for our prosperity. We can no longer afford to have comfort and complacency," urged the Business Council of Canada, which has released the report "Ambition and Action." It outlines structural changes needed to strengthen Canadian industries and expand high-growth sectors.
Both the B7 and the Business Council of Canada recognize the urgent need for collaborative strategies. The policy priorities of the B7 will include promoting rules-based global trade and facilitating business-led transitions toward more sustainable energy practices.
Specifically, discussions are expected to focus on how to manage internal trade barriers within Canada, which complicate trade flows between provinces. Experts have noted the differing regulations across provincial lines, emphasizing the need for potential harmonization to bolster internal commerce.
Avery Shenfeld, chief economist at CIBC, expressed how such dynamics affect the overall Canadian economy. He urges consideration of Canada’s trade-policy frameworks as well as potential non-tariff strategies as protective measures against external pressures.
"Canada has exemplary resources, including strategic minerals; we should leverage these to strengthen our position," said Shenfeld, noting the importance of self-reliance and market stability.
The B7 summit aims to set the stage for Canada not only to respond to current challenges but also to leverage opportunities for sustainable growth. Engaging leading firms and industry experts showcases Canada’s commitment to collaboration, innovative practices, and the establishment of comprehensive frameworks for future resilience.
Through extensive consultations with organizations representing all G7 countries, the B7 has prepared to offer concrete policy recommendations by the time of the summit. These measures will tackle the immediate economic risks and lay the groundwork for long-term prosperity.
The willingness of the corporate sector to mobilize support and alignment is apparent, as companies recognize the pivotal role they must play amid global uncertainties. The theme of the B7 summit embodies this commitment to shared growth, stability, and the strategic management of economic resources.
With the B7 summiting just months away, discussions surrounding Canada’s economic future are heating up. The country’s ability to adapt and enforce resilience will not only determine its immediate survival against tariffs but also carve its path forward as it seeks to position itself competitively on the world stage.
Looking ahead, Canada’s initiatives and collective engagements during the B7 could very well redefine its economic interactions beyond its borders, establishing new norms, promoting trade, and ensuring sustainable advancement.