Minister Champagne successfully advances Canada’s interests at G7 meeting in Paris

May 19, 2026 - Paris, France

In a world marked by uncertainty and division, Canada is building a stronger and more resilient economy by forging strategic partnerships with like-minded partners abroad, and by advancing a strong economic plan at home.

The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today completed a productive trip to Paris, France, where he participated in the G7 Finance Ministers and Central Bank Governors meeting. This meeting was an opportunity both to discuss pressing global issues and to advance Canada’s trade diversification efforts.

The Minister also used this opportunity to congratulate the Minister of the Economy, Finance, and Industrial, Energy, and Digital Sovereignty of France, Roland Lescure, for the progress made so far under France’s G7 presidency,and thanked him for hosting this meeting as well as the upcoming G7 Leaders’ Summit in Évian.

Minister Champagne had productive discussions with other counterparts and leaders on the global economy, global imbalances, critical minerals, international development, financial sector stability, and Russia’s illegal war against Ukraine. He also had the opportunity to highlight Canada’s commitment to prevent the exploitation of the financial system to perpetuate crimes that undermine the safety of our communities.  

On the margins of the meeting, Minister Champagne had meetings with international partners – including Italy, Japan, South Korea and Brazil – to advance Canada’s priorities, including strengthening economic partnerships, expanding trade opportunities, and attracting investment to Canada. He also spoke with partners about the need for increased financing for the defence and security sector, critical minerals, and the benefits of the proposed Defence, Security and Resilience Bank (DSRB).

While in Paris, the Minister also participated in a panel discussion at the fifth “No Money for Terror” Ministerial Conference – a global platform to counter the financing of terrorism. 60 delegations discussed the progress made to date and determined next priorities for further collective action, including preventing the misuse of financial innovations for terrorist financing, addressing the nexus between terrorism financing and organized crime, and tackling terrorist financing issues linked to territorial control.

As announced in Budget 2025 and reiterated in the Spring Economic Update 2026, the government of Canada is moving forward with the Trade Diversification Strategy to help Canadian businesses expand and double our exports to overseas markets over the next decade. This includes direct support to exporters, opening access to new markets, and modernising trade-enabling transportation systems and infrastructure through initiatives such as the Trade Diversification Corridors Fund and the Arctic Infrastructure Fund.

Canada continues to take decisive and ambitious action to stem the laundering of illicit proceeds that support criminal actors. The Spring Economic Update 2026 earmarked $352.7 million over five years to establish a new Financial Crimes Agency, which will be Canada’s first-ever federal law enforcement agency dedicated exclusively to investigating sophisticated financial crimes and recovering illicit proceeds. Enabling legislation for this Agency was introduced on April 27, 2026, through Bill C-29.

The Spring Economic Update 2026 also announced new measures to address criminal abuse of cryptocurrency ATMs and money services businesses, helping to combat the misuse of these businesses to launder money, finance terrorism, evade sanctions and defraud Canadians. It also earmarks $17.9 million over four years for the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), to strengthen its ability to detect, deter, and disrupt illicit financing that supports extortion and fentanyl trafficking in Canada.