The Commonwealth is working with governments, international development partners, grassroots organisations and civil society to help both developing and developed countries enjoy economic growth and stability.
Many of our members are small and vulnerable and face challenges to finance basic public services, are burdened with high debt and have had limited success in securing the benefits of global trade.
Traditional sources of finance for these countries – such as taxation and development assistance – while critically important, are insufficient to meet these challenges.
The Commonwealth helps its member governments to equitably and sustainably manage their human, natural and economic capital, to bolster national resilience to economic and social crises, and to improve prosperity for all citizens.
The G20 (also known as the Group of Twenty) comprises 19 of the world’s leading economies and the European Union. It plays an important policy co-ordination function by providing space for the G20 leaders to engage in regular and constructive dialogue on pressing issues facing the global economy.
Terrence Simfukwe is a trade adviser seconded to Belize’s Ministry of Foreign Affairs and Trade. He’s there as part of the Hub and Spokes Programme. The programme provides trade experts to national ministries and regional trade organisations in the African, Caribbean and Pacific (ACP) group of states. Prior to his posting in 2016, he was principal economist for foreign trade in Zambia’s Ministry of Commerce, Trade and Industry. Here he outlines Belize’s efforts to develop a national trade policy.
Least Developed Countries are set to benefit from an agreement that unites the work of the Commonwealth and the World Trade Organization (WTO) to boost commerce. Commonwealth Secretary-General Patricia Scotland today signed a memorandum of understanding (MOU) with the trade body’s Enhanced Integrated Framework, during a two-day summit at the WTO headquarters in Geneva.