The United Kingdom will host a gathering of trade ministers and senior officials from 53 Commonwealth countries in London on 10 October. Participants will focus on supporting a transparent, inclusive and fair global trading system and progress efforts to achieve about US$2 trillion worth of trade within the Commonwealth by 2030.
“Our Commonwealth approach recognises that all are able to give, and all are able to gain: by coming together in our rich economic, cultural and geographical diversity we learn much from one another and are able to accelerate inclusive and more sustainable progress for all,” says Patricia Scotland, Secretary-General of the Commonwealth.
The meeting takes place following three days of discussion amongst senior trade officials from 7 October to 9 October.
“Amid global uncertainties, the Commonwealth remains a champion for transparent, inclusive, fair, and open rules-based trade,” says Scotland.
According to UK Secretary of State for International Trade, Elizabeth Truss, trade between the 53 members of the Commonwealth is projected to reach $700 billion next year.
Attendees will also review progress made under the Commonwealth Connectivity Agenda, launched last year to support economic growth, job creation and the sharing of best practices.
In another initiative, ministers at the event will plan to engage more women and youth at all levels in a bid to make trade more inclusive and sustainable.
“Together, the Commonwealth member countries can help to fight against protectionism and promote a transparent, inclusive, fair and open rules-based multilateral trading system,” says Truss.