Canadian businesses and Brazil’s G20: Recapping the Canadian Chamber mission to the B20 in São Paulo

The Canadian Chamber of Commerce convened a delegation of Canadian business leaders in São Paulo, Brazil from October 23 to October 25 for the B20 Summit. The business-led trade mission highlighted the importance of Canadian engagement with the region, the importance of the B20 as a convening forum for the global business community, as well as need for deepening cooperation between the G7 and the G20.

From its inception in 1999, Canada has been an important player in the G20. Canada is widely credited with pioneering the concept and mission of the G20, co-creating it as a finance ministerial forum in 1999 under the direction of Finance Minister Paul Martin. Successive Canadian governments have since worked with other member countries to strengthen and elevate the forum to a major leader-level intergovernmental organization that now comprises around 85% of the world’s GDP.

As global trade grows increasingly fragmented, the G20 has emerged as an increasingly relevant international forum for bridging divides and facilitating productive global economic cooperation. In this context, it is important that the Canadian government meaningfully engage the G20 to ensure that this important global platform works for Canada and Canadian businesses. As Canada holds the G7 Presidency in 2025, how Canada engages with the G20 will be particularly consequential in the coming months.

In 2024, Brazil holds the G20 Presidency and Brazil’s National Confederation of Industry (CNI) serves as the Business 20 (B20) host organization. The B20 is the official G20 dialogue forum with the global business community.

Throughout this past year, the Canadian Chamber of Commerce has worked closely with CNI to develop the B20’s key priorities. Through the Canadian Chamber’s ongoing engagement with the B20, Canadian businesses are influencing the G20 agenda by shaping the B20 Brazil Final Communique and the activities of the various B20 Task Forces and Action Councils.

The Canadian Chamber’s mission to the B20 Summit in São Paulo sought to build on these ongoing efforts by deepening connections between Canadian and Brazilian businesses, as well as by connecting Canadian businesses with the G20 business community.

The Canadian Chamber’s business delegation included Canadian business leaders from various sectors including mining, financial services, professional services, and investment promotion.

Brazil-Canada Summit

The Canadian Chamber delegates kicked off the mission in São Paulo on October 23 with the Brazil-Canada Summit. Organized by the Chamber of Commerce Brazil-Canada (CCBC), the Brazil-Canada Summit brought together key speakers from business, government, and academia, for sessions focused on advancing Canadian innovation in Brazil and on a global scale. Speakers included, Emmanuel Kamarianakis, Ambassador of Canada to Brazil, Loui Anastasopoulos, CEO at TSX, and Matthew Holmes, the Canadian Chamber’s EVP International and Chief Public Policy.

Bloomberg New Economy

Bloomberg New Economy at B20 is a special global gathering that took place on the margins of the B20 Summit in São Paulo. The Bloomberg New Economy event brought business and government together to set the agenda for global economic development and transformation. Canadian Chamber delegates enjoyed access to this premier global event, which featured Carlos Fávaro, Brazil’s Minister of Agriculture and Livestock, Katherine Tai, Trade Representative of the United States of America, as well as a variety of global business leaders including Bill Gates.

Canadian Chamber Roundtable on Canada-Brazil & G20

On the second day of the mission, prior to the official start of the B20 Summit, Canadian Chamber delegates took part in an exclusive morning roundtable discussion regarding Canada-Brazil relations, Brazil’s G20 Presidency, and the future of Canda’s engagement with the region. This roundtable was co-hosted by Chamber of Commerce Brazil-Canada (CCBC). In addition to the Canadian Chamber delegation, participants included Caroline Charette, Consul General of Canada to Brazil in São Paulo, as well as Brazilian policy experts, representatives of Brazilian trade and investment promotion government agencies, and businesses.

B20 Summit

The B20 Summit bought together over 1,000 business representatives from G20 countries to discuss economic and business issues of global significance. The 2-day B20 Summit program included panels and engagement opportunities with global experts, business leaders, and G20 government officials, including Brazil’s Vice-President, Geraldo Alckmin. Canadian Chamber delegates participated in the formal B20 program, as well as networking activities and various informal side-meetings.

Making the G7 and G20 work for Canadian business

Since returning from the B20 Summit in São Paulo, the Canadian Chamber team has remained engaged in finding ways to make the G20 work for Canadian businesses. In the lead up to the G20 Leaders’ Summit, Matthew Holmes participated in a high-level roundtable on Canadian business’ interests related to the G20 hosted by the Rotman School of Management. Key roundtable participants included Cynthia Termorshuizen, Canada’s G7 Sherpa, Emmanuel Kamarianakis, Ambassador of Canada to Brazil, and the Hon. Bill Morneau, Canada’s 39th Minister of Finance from 2015 to 2020.

Looking forward, next year’s G20 and G7 Presidencies will present significant opportunities for Canadian businesses. South Africa will hold the G20 Presidency, marking the first time an African country has presided over the G20, and Canada will hold the G7 Presidency. The Canadian Chamber will remain steadfastly committed to advancing the interests of Canadian businesses through our leadership as the B7 host organization in Canada, as well as our close engagement with our South African partners on the B20.

The Canadian Chamber of Commerce extends our sincere thanks to our partners, the Chamber of Commerce Brazil-Canada and the Consulate General of Canada in São Paulo, for their assistance with our mission.