Blog /

Recapping the 2024 B7 Summit in Italy 

Recapping the 2024 B7 Summit in Italy 

In mid-May, the Canadian Chamber led a business mission to Rome, Italy, to take part in the Business 7 – or “B7” – Summit.

In mid-May, the Canadian Chamber led a business mission to Rome, Italy, to take part in the Business 7 – or “B7” – Summit. The group was comprised of two dozen delegates who are business leaders from various economic sectors, including technology, finance, sustainability and law. 

Canadian Chamber’s pre-B7 event on AI 

To set the stage for the Summit’s discussions, the Canadian Chamber hosted a pre-B7 event in Rome titled: “AI: The Missing Piece of the Productivity Puzzle?” to explore the transformative role of AI in driving economic growth and productivity. Speakers included the Hon. David Lametti and Elissa Golberg, Ambassador of Canada to Italy, as well as several global experts on AI from G7 counties and leading technology organizations, including from AWS, OpenText and Telus. 

B7 Summit – May 17, 2024 

The day-long B7 Summit was a culmination of months of work from Confindustria, the Italian industry organization overseeing the B7 presidency this year, as well as its member organizations from each G7 country. The ultimate goal was to produce a succinct policy recommendation document from which the G7 can draw upon while developing its own final communiqué. This year, the B7’s work was focused on four clusters: economic security and global value chains; data economy and digital transformation; energy, environment and climate change transition; future of work. The impact of AI on business and the economy was the major overarching theme. 

Read the final 2024 B7 communiqué: Leading the Transition Together

B7 Summit speakers included prominent CEOs of global companies and government officials from G7 countries, including Larry Fink, CEO of BlackRock; Mathias Cormann, Secretary General at the OECD; Gilberto Pichetto Fratin, Italy’s Minister of Environment and Energy Security; Chrissy Taylor, President and CEO of Enterprise Mobility, John Denton, Secretary General of the International Chamber of Commerce, Borje Ekholm, CEO of Ericsson; Alan Mak, UK Minister of Foreign Affairs and International Cooperation, and many more. 

From the Canadian delegation, the Canadian Chamber’s President and CEO Perrin Beatty opened the program with remarks on the importance of multilateral collaboration during uncertain times, while OpenText’s Chief Architect Lars Rossen spoke about leveraging AI for economic growth during his panel. 

In the current turbulent international moment, the B7 plays an integral role in facilitating cooperation between governments and the global business community, and also in articulating an economic vision for navigating the challenges and opportunities we collectively face. From maximizing the benefits of artificial intelligence, to enabling the global energy transition, to preserving global economic security, it is important that we are ambitious in advancing our shared prosperity and security. As Canada will hold the G7 Presidency in 2025, the Canadian Chamber of Commerce looks forward to continuing the important work of the B7 in the coming year.

At the conclusion of the program, the Canadian Chamber and its B7 leadership counterparts took part in a closed-door meeting with Giorgia Meloni, Italy’s Prime Minister, to formally deliver the final B7 communiqué and convey to her government the key priorities of the B7. The Prime Minister engaged with the small group on various topics, including on international cooperation, energy transition, AI and immigration. 

Complementary B7 events in Rome 

Breakfast with the Ambassador 

While in the Italian capital, the delegation visited the Canadian Ambassador’s official residence, Villa Grandi, for a casual breakfast attended by Italian business leaders and friends of the Embassy. Ambassador Elissa Golberg spoke about the historical significance of the four storey-villa that is bordered by Rome’s ancient Aurelian walls. The Canadian government purchased the two-acre property through post World War 2 reparation funds from the Italian government, a war in which 5,200 Canadian soldiers died in Italy, and where 92,000 served. According to former Canadian Ambassador to Italy Robert Fowler, the residence is “a monument to the sacrifice of Canadians who fought in Italy during the Second World War.” 

B7 Welcome Dinner 

On the eve of the Summit, the Canadian delegation had the chance to meet and catch up with its B7 counterparts during the B7’s official welcome dinner hosted by Confindustria at the Palazzo Colonna, one of the oldest and largest private palaces of Rome. It was also an opportunity for business leaders of G7 countries to compare notes on emerging economic opportunities and challenges, and potential areas for collaboration. 

In 2025, Canada will assume the G7 presidency and as result, the Canadian Chamber will play host to the 2025 B7 Summit. Stay tuned for announcements regarding the location and dates this summer. 

The Canadian Chamber is most grateful for the generous support of OpenText, AWS, Microsoft, Telus and the Canadian Chamber in Italy which made this important international mission possible. 

Share this

Sign Up for Our Newsletter

Sign Up to receive the latest news from the Canadian Chamber of Commerce