The committee studied key challenges, opportunities and support tools for Canadian exporters navigating a changing trade landscape. Appearing were Véronique Dorval and Pierre Cléroux from the Business Development Bank of Canada (BDC), and Todd Winterhalt and Joanne De Franco from Export Development Canada (EDC).
Véronique Dorval said BDC supports Canadian entrepreneurs domestically with financing, advisory services and venture capital, noting that only about 7% of its 107,000 clients export. She highlighted BDC's tariff relief programs, including the pivot to grow program, which has deployed over $200 million in loans and nearly 600 advisory mandates, and a $1-billion steel and aluminum support package launched five weeks ago that has resulted in two accepted loans and over 120 conversations with businesses. She recommended expanding support for productivity investments through the LIFT program and for the defence sector with a $6-billion platform, and noted that BDC recently broadened its forestry program to cover the entire value chain, including small harvesters.
Todd Winterhalt said EDC supports Canadian exporters with insurance, direct lending and working capital, serving about 24,000 exporters in 2025 and facilitating over $135 billion in trade. He emphasized that over 65% of Canadian companies plan to diversify into new markets, with EDC doubling its office network in Asia and opening three new representations in Europe in 2026, and noted that EDC facilitated $1.6 billion in defence and security exports in its first year back in that sector. He recommended leveraging partnerships with like-minded nations for large projects and highlighted the EDC trade impact program, which has delivered $2.5 billion in incremental support through 5,400 transactions, mostly for SMEs.
Pierre Cléroux said BDC's research shows non-residential investment had zero growth in 2025 due to uncertainty from tariffs, and that the venture capital market has slowed because investors have become more cautious. He noted that a technical recession—two consecutive quarters of negative growth—differs from a formal recession declared by the C.D. Howe Institute, which requires deeper declines and more job losses.
Joanne De Franco gave examples of EDC connecting Canadian suppliers to international buyers, such as a Montreal manufacturer that landed a multi-million-dollar opportunity in north Africa through an EDC relationship, and a ramen noodle supplier that grew from a trial order in Mexico to $2.6 million in business.
In response to questions, Dorval said BDC's defence platform was initiated internally before aligning with the shareholder, and that BDC offers a four-hour consulting service at a 75% discount to help businesses understand tariff impacts. Winterhalt said EDC's support for oil and gas has declined since COP26, with most of the $9.3 billion in 2025 going to electricity trading and gas exports, and he agreed to provide a sectoral breakdown of support from 2022 to 2025. Dorval and Winterhalt both said their organizations work together seamlessly, with BDC focusing on building a strong domestic base and EDC on export support, and that they coordinate through standing meetings and the BETR committee to avoid duplication.
The committee did not debate any motions or procedural matters during this meeting.
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