Champagne Wraps G7, G20 Talks Triumphantly in S. Africa
With global political and economic uncertainty abounding, strong relationships and cross-continental collaboration with reliable nations has never been more important. Canada is spearheading a new era of collaboration and partnership with nations it can trust and whose priorities it shares.
The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today concluded his participation in the G7 and G20 meetings of Finance Ministers and Central Bank Governors (FMCBG) in Durban, South Africa – a key engagement under Canada’s ongoing G7 Presidency and a demonstration of Canada’s commitment to strong international partnerships.
At the G20 meeting, Minister Champagne outlined Canada’s vision for the global economy, as well as for the international financial architecture, international taxation and ways to improve longer-term growth prospects for Africa. Discussions during the meeting included the importance of sustainable finance and the role of resilient infrastructure in supporting economic development.
The Minister leveraged the occasion to engage in a series of bilateral meetings with his counterparts, further strengthening Canada’s relationships and fostering collaboration with key global partners. This included meetings with Ministers from Indonesia, Australia, the United Arab Emirates, Norway, Sweden, Singapore, Italy, the United Kingdom, Saudi Arabia and Japan, along with pull-asides with South Africa and Denmark.
On the margins of the G20 meeting, Minister Champagne co-chaired with Tiff Macklem, Governor of the Bank of Canada, the fourth G7 Finance Ministers and Central Bank Governors’ meeting under Canada’s G7 Presidency. Discussions focused on ways to work together to reduce the ongoing trade and economic policy uncertainty, notably by establishing new uninterrupted trade routes with reliable partners and lifting existing barriers to trade. Russia’s illegal and unjust war against Ukraine, and actions to improve supply chain resilience including for critical minerals, were also discussed. Australia and South Korea joined the discussion on supply chains.
During a short stay in Cape Town prior to the G7 and G20 meetings, Minister Champagne also met with local business leaders and government officials to advance Canada’s goals of partnership, economic development and innovation.
https://www.canada.ca/en/department-finance/news/2025/07/minister-champagne-concludes-successful-g7-and-g20-meetings-in-south-africa.html