Canada strongly supports the G20 conference, recognizing the value of international collaboration in solving global concerns such as economic development, poverty alleviation, and climate change. The G20 is viewed as a successful venue for developing communication and collaboration among the world's major economies by the country. Canada is particularly interested in G20 agenda items such as sustainable development, gender equality, and the empowerment of women and girls. Furthermore, Canada is dedicated to collaborating with other G20 members to discover solutions that benefit not only its own residents but people all across the world. Overall, Canada is a committed G20 summit member, with a strong commitment to multilateralism and a desire to make the world a better place.
The economy of Canada is one of the most developed and significant in the world. According to the most recent statistics from the World Bank, the nation's yearly gross domestic product (GDP) was $1.64 trillion in current USD in 2020. Canada's economy rose to ninth place in the world as a result. With both exports and imports of goods and services accounting for around one-third of Canada's GDP, the country's economy is heavily reliant on foreign commerce. The U.S., China, and the United Kingdom are the three biggest commercial partners for the nation. Real estate, rental, and leasing, manufacturing, and mining, quarries, and oil and gas extraction are its three main businesses regarding GDP contributions. The private sector dominates the Canadian economy, although some businesses, including the postal service, some power utilities, and some transportation agencies, are still government-held. Some nationalized businesses underwent privatization in the 1990s. To compete with the heavily subsidized agricultural sectors of the European Union (EU) and the United States, Canada's firmly privatized agricultural industry has grown to rely on government subsidies. A lot of marketing councils for certain agricultural commodities implement supply management and set floor prices.