Annual Public Meeting 2023/24

Thank you for joining us, merci de nous rejoindre aujourd’hui. 

My name is Bobby Kwon and I’m pleased to serve as CCC’s President and Chief Executive Officer.   
CCC delivered another record year for Canadians in 2023–24 — testament to a clear strategic corporate vision and strong relationships with Canadian exporters.  

We continued to take decisive steps throughout the year to fulfill the objectives set out in our long-term Corporate Plan.  

The Corporation facilitates exports from diverse sectors to deliver economic benefits to Canadian businesses and their employees through both international sales and by creating and maintaining Canadian jobs.  

In 2023–24, CCC signed $3.2 billion in new government to government export contracts — a 40% increase over the previous year. 

CCC was active in 62 countries worldwide and we supported exports of goods and services valued at $3.6 billion.  

Our efforts supported 559 Canadian businesses and helped create or sustain almost 15,000 jobs in Canada.  

These contracts were signed across our three business lines: the Canada-U.S. Defence Production Sharing Agreement, International Prime Contracting, and Sourcing. 

As Canada’s steward of the Defence Production Sharing Agreement, known as the DPSA, CCC helps Canadian businesses access opportunities to sell to the United States Department of Defense.  

This bilateral defence trade agreement between Canada and the U.S. enshrines Canada as part of the U.S. domestic military supply base. This allows Canadian exporters to sell goods and services to the U.S. Department of Defense on equal footing with U.S.-based competitors.  

In 2023-24, our DPSA business grew to $1.1 billion of new export contracts for Canadian exporters, up from $885 million the year prior.   

We attribute this volume to CCC’s efforts to strengthen collaboration with Canadian exporters, to increase awareness of the DPSA across the U.S. Department of Defense, and to drive new and diverse areas of Canadian supply to meet the needs of U.S. DoD today and in the future.   

CCC’s support for the DPSA has been an important part of Canada-U.S. defence trade since 1956. It supports a strong, effective, highly integrated and resilient North American defence industrial base that serves the economic and strategic interests of both countries.    

In addition to military goods, the U.S. military purchases massive volumes of food, medical equipment, and construction supplies every year. CCC works with Canadian companies, including small and medium-sized enterprises, to meet these needs, which can range from navigation and nautical systems to chartered passenger flights, surgical instruments, and even snow removal equipment. My colleague Diane will provide examples of some of these contracts later. 

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CCC also supported Canadian exporters through our International Prime Contracting business line, which responds to foreign government demand for government-to-government acquisitions.  

The IPC service is designed to support Canadian business success in selling to foreign governments with end-to-end service from contract negotiation to final delivery.  

The IPC service allows CCC to advocate on behalf of Canadian businesses, to seek the right terms and conditions for contract success, and to troubleshoot throughout the process, from project development to final payment.   

This business line supports a broad range of Canadian clients and industries to sell and execute contracts with governments around the world, with a recent focus on the transition to clean energy, especially nuclear energy, and the aerospace and defence sectors.  

In 2023–24, the total value of new IPC export contracts was $1.8 billion.  

CCC approaches these opportunities with a rigorous risk management approach that involves regular consultation with Government of Canada stakeholders and a due diligence regime that upholds Canada’s high standards for human rights and responsible business practices.  

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For our third business line, CCC’s Sourcing service provides procurement expertise and responds to urgent needs across the federal government to quickly and effectively support international aid or assistance programs.  

In 2023–24, CCC continued its partnership with Global Affairs Canada and the Department of National Defence to procure and deliver Canadian assistance to the Ukrainian government for a total value of $352 million.  

In addition to these three business lines, CCC builds awareness of our government-to-government contracting services among Canadian companies of all sizes and with diverse ownership profiles.  

CCC supported more than 550 Canadian companies in their exporting journeys in 2023–24 through contracts, advisory services, and referrals. Of these companies, 80% were small or medium-sized entreprises and approximately 10% were owned or led by individuals from under-represented groups.  

CCC was also actively engaged in the Minister’s Business, Economic and Trade Recovery team, known as BETR. 

CCC’s work with BETR prioritized initiatives to improve information and content about Canada’s export services, to promote Canada-ASEAN collaboration, and to assist new Canadian exporters in their trade journey.   

CCC also delivered value to Canadian exporters with initiatives that add more value for clients. One such initiative was launched in 2023–24 to guide CCC’s digital transformation and strengthen the Corporation’s cybersecurity.  

This includes streamlining and enhancing the integration of systems and applications, improving accessibility and reliability of data for reporting and analytics, optimizing automation to improve customer experience, and standardizing operations.  

The Corporation also advanced on HR strategy commitments. CCC counts its employees as its greatest asset and has increasingly focused on modernizing recruitment tools to ensure that we have the skills to satisfy the evolving needs of Canadian exporters and to promote the Corporation as an attractive option for top applicants. 

In closing, I’d like to thank the Board of Directors for their continued support and guidance.  

I’m also grateful to my management team colleagues and all our team members for their support of our clients.  

As we look forward, I’m optimistic about CCC’s future and its ability to serve the evolving needs of Canadian companies even more effectively, to support the Government of Canada’s trade priorities, and to continue delivering even more of Canada to the world. 

Hello, bonjour, and welcome to the Canadian Commercial Corporation’s Annual Public Meeting. Thank you for joining us. 

I’m Douglas Harrison, Chair of CCC’s Board of Directors, and I am pleased to be here today to review the organization’s results for the 2023–2024 fiscal year. 

We are presenting our meeting online so that we can reach the greatest number of Canadians. Should you have any questions pertaining to the information shared in this video, please direct them to [email protected] and it will be our pleasure to provide you with an answer via email. 

I’d like to acknowledge that we are in Toronto today, and that the land on which we are gathered is the traditional territory of the Haudenosaunee, and most recently, the territory of the Mississaugas of the Credit.  

We pay our respect to the Indigenous Peoples, their ancestors, and their contributions to this great country. Our hope at CCC is that by recognizing the land on which we live and work, it is a step to bringing about a meaningful path to reconciliation.  

For almost 80 years, CCC has been supporting the Government of Canada’s international trade and foreign policy agendas while helping Canadian companies sell goods and services to governments around the world. 

The Corporation plays a niche but critically important role in Canada’s trade team as the only Canadian government agency that provides international contracting expertise to Canadian businesses.  

We work alongside Government of Canada partners, such as Global Affairs Canada, the Department of National Defence, the Trade Commissioner Service, and Export Development Canada, to promote and support exports by Canadian companies.    

CCC’s government-to-government contracting strategy aligns with the Government of Canada’s policies in international trade. It creates opportunities to develop and strengthen bilateral relationships while facilitating export opportunities for Canadian companies that might otherwise be beyond their reach.   

Despite a challenging economy in 2023–24 that was marked by evolving geopolitics, CCC continued to deliver record results for Canadians and for Canadian exporters.   

The Corporation delivered an almost 40% year-over-year increase in contracts signed during the fiscal year  

CCC delivers its services through three business lines: 

• The Defense Production Sharing Agreement, which provides access to procurement opportunities with the US Department of Defense;   
• International Prime Contracting, which serves government-to-government opportunities across a range of industries and countries; and 
• Sourcing and emergency response, which serves Government of Canada departments. 

These lines of business will be discussed in greater detail by CCC’s president later in the meeting. 

CCC’s strategy, now in its fourth year, takes a three-pillared approach to guide the Corporation in delivering on its mandate and the three business lines.   

• The Growth pillar seeks to grow Canadian exports by working with new and existing client companies in responding to foreign government demand for Canadian exporter goods and services;  
• The Operational Excellence pillar improves, simplifies, and streamlines business processes for our clients; and  
• The Environmental, Social and Governance pillar builds on CCC’s experience in applying responsible business conduct practices and strives to embed ESG principles and thinking into everything we do.   

CCC simplifies and expedites acquisitions by foreign governments from Canadian companies across a range of sectors, including aerospace, defence and security, information and communications technology, cleantech and energy, and public infrastructure.  

CCC’s contracts with foreign governments are backed by the Government of Canada and as such, carry a guarantee that contract terms and conditions will be met. This guarantee helps mitigate the buyer’s risk and helps enable procurement from Canada.  

Government to government projects can be large, complex, and politically sensitive, requiring expertise that only an organization like CCC can offer. This collaboration on important acquisitions deepens bilateral relationships, reduces procurement risks for the supplier and the foreign buyer, and can strengthen the bankability of certain projects.  

CCC has a robust enterprise risk management framework that mitigates risks for the Government of Canada and by extension, all Canadians. Reviewed annually by the Board of Directors, the framework provides guidance on risk governance, setting strategic objectives, performance, communications and reporting, and it monitors the appetite and tolerance for entity-wide, corporate and transactional risks.  

Our risk management approach complements our Environmental, Social and Governance strategy, which sets the foundation for increased oversight and transparency to encourage responsible and sustainable business conduct, to broaden engagement with all sectors of Canadian industry in international trade, and to deliver stronger environmental stewardship.   

Our ESG strategy includes scoping for and implementing an emissions reduction plan that will inform CCC’s future reporting and align with the recommendations of the Government’s Task Force on Climate-related Financial Disclosures.  

In addition to promoting responsible business conduct with Canadian exporters and reporting on the Corporation’s transactional disclosures, the ESG strategy also supports inclusive economic participation and implements measures to collect and report data on the diversity of CCC’s exporter base. 

As a Crown corporation, CCC is governed by a Board of Directors and is accountable to Parliament through the Minister of Export Promotion, International Trade, and Economic Development. 

The Board ensures the delivery of the Corporation’s statutory mandate and public policy objectives on behalf of the Government of Canada. It provides leadership and guidance to the Corporation’s management team and ensures that the Corporation’s long-term strategic direction aligns with the Minister’s annual Statement of Priorities and Accountabilities.  

CCC had an outstanding year in 2023–2024, with the Corporation’s employees delivering value for Canadians by generating the equivalent of approximately $30 million of exports for every CCC employee. These exports also helped create and sustain almost 15,000 jobs in Canada.  

CCC will continue to prioritize operational excellence to add even more value to our support for Canadian exporters, just as we continue to strengthen our commitment to positive environmental, social, and governance practices. 

I would like to personally thank Minister Mary Ng for her continued support for the important work of CCC and her trust in our vision. 

I would also like to thank my Board colleagues for their dedication and stewardship, as well as CCC’s management team and all our team members for their contributions throughout this record year. 

We are confident in CCC’s position to bring Canadian skills and experience to bear in foreign markets, to strengthen bilateral relations with governments around the world, and to help execute on the Government of Canada’s trade agenda. 

Bonjour à tous, and a warm welcome to everyone watching.  

My name is Diane Montambault, and it is my honour to serve as Vice-President of Contract Management and Operations at the Canadian Commercial Corporation.  

At CCC, we’ve been supporting Canada’s trade with other nations and strengthening bilateral trade relationships for almost 80 years.  

We support Canadian exporters from the very beginning of their contract journey to the end. With expertise developed over many years, CCC helps exporters navigate complex markets, we streamline contract administration, and we work closely with both the Canadian exporter and foreign government buyer to address and mitigate risks and issues. 

CCC’s contract management services also carry the assurance of the Government of Canada that the contract will be delivered in compliance with the terms and conditions agreed to by the parties.  

Today I’d like to highlight a few of the contracts that CCC delivered during the 2023–24 fiscal year through our DPSA, IPC and Sourcing lines of business. 

Administering the Defence Production Sharing Agreement on behalf of the Government of Canada is CCC’s key public policy mandate. This defence trade agreement between Canada and the U.S. enshrines Canada as part of the U.S. domestic military supply base, allowing Canadian exporters to sell goods and services to the U.S. Department of Defense on equal footing with U.S.-based competitors.  

The DPSA supports an integrated and resilient North American defence industrial base that serves the economic and strategic interests of both countries.    

In 2023–24, CCC signed contracts worth $1.1 billion through the DPSA. 

Among these contracts was an agreement between CCC and the United States Army to expand the capacity for artillery propellant of General Dynamics Ordnance and Tactical Systems Canada in Valleyfield, Quebec.  

The agreement provides significant investment in the shared defence supply chain by leveraging GD-OTS Valleyfield’s proven technology, know-how, and infrastructure to increase 155mm resupply production.  

Another DPSA contract was awarded to Thornhill Medical, based in Toronto, to supply anesthesia and life-support systems to the Department of Defense.  

Thornhill Medical developed a portable and battery-operated life-support system called MOVES SLC. These systems offer complete monitoring for vital signs in addition to oxygen, all in a single unit that can safely meet the challenges of delivering emergency medical care in difficult circumstances such as natural disasters and in conflict zones.  

The expertise and support that CCC delivers to Canadian companies through the DPSA includes assistance with interpreting the acquisition language of the U.S. Department of Defense. This is crucial, particularly for smaller companies wanting to navigate this large and complex system.  

One example of a small business supported by CCC through the DPSA in 2023–24 is J.A. Larue. This Quebec City-based company was awarded two delivery orders for snow removal equipment, worth more than $2 million, for the U.S. Department of Defense.  

In addition to CCC’s mandate to administer the DPSA, the Corporation offers an International Prime Contracting service that responds to foreign government demand for government to government acquisitions.  

CCC signed a major three-way contract for this line in 2023–24 between CCC, AtkinsRéalis and Romania’s National Nuclear Electric Company.  

With a value of more than $700 million, this contract provides engineering support and reactor components to extend the life of the Unit 1 CANDU reactor at the Cernavoda Nuclear Power Plant in Romania.  

As Romania transitions to dependable, low-carbon energy, the refurbished CANDU reactor will provide an emissions-free, low-cost and uninterrupted flow of power to Romania and neighbouring Moldova.  

With approximately 85% of the project to be executed in Canada, this contract will support well-paying jobs in Canada while providing energy security for Romania.  

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Throughout the year, CCC also devoted significant time and resources towards negotiating a major contract for firefighting aircraft between De Havilland Canada, RescEU, and its European Union member states. This contract materialized in the 2024–25 fiscal year and we look forward to providing more details in our next Annual Report.    

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Our IPC business aligns with the Government of Canada’s priorities and focuses on the aerospace and defence sectors and the transition to clean energy. However, every so often, CCC’s contracts play to a very different tune. 

In March 2024, CCC was awarded a contract to supply a Canadian-made pipe organ to a cathedral in Perth, Australia. Through CCC’s government to government contract, artisans from Orgues Létourneau, a small business in Saint-Hyacinthe, Québec, will design, construct, install, and voice a new red oak organ with thousands of pipes. 

For almost 60 years, CCC’s Sourcing line has provided contracting expertise to support the Government of Canada’s delivery of international assistance where rapid or complex procurements are necessary.  

For example, in the early stages of the COVID-19 pandemic, CCC helped Canada source personal protective equipment for several Asian and African countries. These high priority projects are delivered with the highest level of due diligence.  

Since March 2022, the Corporation has taken great pride in facilitating the Government of Canada’s efforts to support the government and people of Ukraine in their efforts against Russia’s illegal invasion. Since then, CCC has delivered more than 90 contracts with a value of almost $1.5 billion to Ukraine for items ranging from military equipment to winter gear such as boots, parkas, sleeping bags and portable heaters. 

In 2023–24, CCC worked with Global Affairs Canada to procure and deliver remote controlled demining systems and blast suits. The de-mining project is an important part of Canada’s overall humanitarian assistance program with Ukraine and a key part of the country’s future reconstruction work.  

A few months after arriving in Ukraine, Canada’s demining machines had successfully been used to clear explosive devices in the Kherson region to restore agricultural land.  

CCC is committed to optimizing business for our customers. We continue to enhance customer experience and support by modernizing our digital capacities, fostering a high-performance people culture, and by maintaining strong risk management processes.  

Together, we look forward to delivering even more of Canada to the world in the years ahead.  

Thank you for joining us today.