Stronger together: Harnessing the economic power of multilateralism
Governments across the G7, and beyond, are navigating a complex global environment, heightened policy uncertainty and geopolitical tensions. Although the global economy remained resilient in 2024, the outlook has become more challenging, with declines in business and consumer confidence and increases in barriers to trade.
Ambitious reforms will be needed to unlock stronger growth, from regulatory reforms to boost competition and reduce red tape, to enhanced education and training, to sound, well-targeted investments in infrastructure and innovation. In parallel, our economies and societies are undergoing structural transformations that will require our policy frameworks to adapt. The rapid ageing of our populations will require measures to strengthen our pension and healthcare systems, while boosting labour market participation and productivity. For the digital transformation to reach its full potential, governments need to address barriers to the adoption of technologies like artificial intelligence, while addressing potential risks, including privacy protection. The green transition can help enhance energy security, affordability and sustainability, although well-coordinated policies are essential to maximise positive spillovers and, ultimately, to reduce costs, while addressing negative spillovers such as carbon leakage.
Tackling challenges through shared expertise
Across all these challenges, multilateral dialogue and cooperation will be essential for governments to share their experiences with what works and what does not, and to coordinate their efforts. The G7, marking its 50th anniversary this year, remains an indispensable forum for this cooperation.
As an organisation that brings together like-minded market-based democracies from around the world, and as a source of objective, reliable data and evidence-based analysis, the Organisation for Economic Co-operation and Development is proud to have provided longstanding support for effective outcomes at the G7. This year, under Canada’s presidency, is no different. We are supporting several of Canada’s key priorities, including the following.
On structural reforms to strengthen the foundations for growth, the OECD is supporting the G7’s growth agenda with policy advice focused on structural reforms that tackle both sluggish growth and fiscal pressures, from pro-competition and innovation policies to labour, product market, governance and education reforms.
To help harness the benefits of AI for productivity and growth, the OECD is supporting the proposed G7 blueprint for AI adoption with our latest evidence and policy advice, focusing on small- and medium-sized enterprises. Our contributions leverage our Digital Economic Outlook and AI Diffusion Project, along with the OECD Recommendation on AI, the first intergovernmental standard for trustworthy, human-centred AI.
Building resilient, responsible supply chains
On strengthening the resilience of the supply chains underpinning global growth, the OECD is leveraging our data and key standards in areas such as responsible business conduct, to support the G7’s work to expand and mitigate risks in critical mineral supply chains. In 2025, the OECD is also convening a series of dialogues with partners in Africa, Asia and Latin America in partnership with Canada’s G7 presidency and South Africa’s 2025 G20 presidency. These dialogues aim to explore how multilateral cooperation can harness the development potential of critical mineral investment, and to strengthen coordination between the G7 and G20 on critical minerals.
On increasing private capital mobilisation for infrastructure, the OECD continues to support the G7 Partnership for Global Infrastructure and Investment. Building on our contributions to previous G7 presidencies, we are also enhancing global investment opportunities through initiatives such as the African Union–OECD African Virtual Investment Platform, which will provide better information on investment opportunities across the continent and help address risk misperceptions.
Fourth, on fostering Ukraine’s recovery, reconstruction and long-term growth, the OECD is advancing the implementation of the OECD-Ukraine Country Programme, including by finalising the Economic Survey of Ukraine, which will deliver recommendations to strengthen financial stability, improve the business environment and foster economic growth. We are also continuing our engagement in G7-led international processes such as the Ukraine Donor Platform, where we provide our expertise, data and analytical capacity to help promote the adoption of benchmarks and internationally agreed standards.
Despite a challenging geopolitical environment, there is a great deal that we can continue to do to unlock stronger, more resilient growth and new opportunities in our economies, while tackling key shared challenges. In this, multilateral cooperation remains our most powerful tool. The OECD will continue to provide our evidence base and analysis to help support effective outcomes at the G7 for a brighter, more prosperous future.
