RCS Ottawa
Feb 2, 20171 min
The inaugural Commonwealth Trade Ministers Meeting is scheduled to take place in London on 9-10 March 2017 in advance of the 2018 Commonwealth Heads of Government Meeting (CHOGM) in the UK. It will be an opportunity to develop and define an enhanced Commonwealth Trade Strategy. The meeting will be co-hosted by the UK and Maltese Governments, as the current and incoming Chair-in-Office of the Commonwealth, and organised by the Commonwealth Enterprise and Investment Council (CWEIC).
The recommendation to hold the meeting was an outcome of the Commonwealth Business Forum in Malta in November 2015. All countries are currently seeking to establish new trading relationships at a time of stagnating global trade. With a population of 2.3 billion, an economy of more than US$10 billion and annual GDP growth in excess of 4%, the Commonwealth offers a ready made English language trading network.
The Ministers Meeting will help identify areas where the Commonwealth can work together to strengthen trade and investment links between member countries and develop a policy agenda ahead of the 2018 Commonwealth Heads of Government Meeting. The Meeting will have a particular focus on exploring the Commonwealth Factor – understanding how the shared values of the Commonwealth, language, similar legal systems etc makes average trade costs 19% lower between Commonwealth countries and how countries can better exploit this advantage. Full Story