Minister enjoys ‘spotlight of Olympics’ to help promote economic recovery

Vancouver 2010 is of course on everyone’s lips for another week yet, as the world’s greatest winter athletes converge upon the West Coast to ski, skate, jump, race and slide toward medals or simply the honour of participation. Few events outside of global economic summits raise such a high media profile around the world as the Olympic games so it should come as no surprise to see the political brokers for the economy in Canada promoting the nation’s economic recovery in conjunction with the Winter Games. It is no coincidence that the ‘Global Business Leaders Day’ took place in Vancouver at the very apex of the sporting spectacle, I’m just surprised that they were able to find hotel rooms this week of all weeks.

The Government of Canada, in association with the Financial Times, presents the Global Business Leaders Day, an exclusive one-day conference on Monday, February 22, 2010 at the distinguished Terminal City Club in Vancouver, Canada. The conference gathered global business leaders, industry champions and Canadian federal, provincial and territorial leaders for a day-long event focusing on the global economic outlook. Earlier today the International Trade Minister of Canada Peter Van Loan remarked:

“Due to our strong fiscal position, the stability of our banking system, the government’s quick response and aggressive stimulus package we were able to I believe and I think most agree, move through this downturn better than most around the world”

His sentiments echoed other reports from the early weeks of 2010 that seem to suggest that not only is the worst of the recession now past but more importantly Canada is expected to recover more rapidly and emphatically than other Western economies. He added:

“The world economic forum has of course been telling us that Canada’s financial system is the soundest in the world, according to the Organization for Economic Cooperation and Development, and the International Monetary Fund, Canada will enjoy strong economic growth this year and beyond and in fact next year we are slated to lead the G7 in economic growth.”

Coinciding with the Olympics the meeting today began with a breakfast where attendees had the opportunity to meet and mingle with some of the most celebrated Olympians in Canadian history. Prior to Van Loan addressing the assembly guests were able to share time with Gaétan Boucher, Kathleen Heddle, Marnie McBean and Lori-Ann Muenzer which got all of those in attendance into a gold medal mood. Van Loan went on to keep the sporting theme afloat along with the economic optimism by adding that the Olympics –

“have been helpful in focusing the world’s eyes on Canada and some of the advantages we have to offer. We don’t need to get all of the investment there is in the world. We just need to make sure we can capitalize on the opportunities”

Keeping the pace with recent months positive indicators in economic growth is the immediate challenge for the economy, shortly after the Olympic flame has left Vancouver the analysts will we reporting back to see if the predicted growth is here for the long run or if perhaps the last few months have been a false start.