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Trade and economy

A new programme of action for Commonwealth LDCs

The Istanbul Programme of Action (IPoA), which ran from 2011 to 2020, set out a vision and strategy for sustainable development in least developed countries (LDCs) by seeking to overcome some of their persistent development challenges. This report takes stock of the progress made and the challenges encountered by the Commonwealth’s 14 LDCs during implementation of the IPoA. At the dawn of a new programme of action in 2022, amid the COVID-19 pandemic and the resurgence of new variants of the virus, the report also looks ahead to opportunities to address the special needs of Commonwealth LDCs and improve their trade and development prospects over the next decade.

Commonwealth Fintech Toolkit

With the emergence of technology-enabled financial services (fintech) and the profound changes to the production and delivery of financial services it has enabled, Commonwealth Central Bank Governors (CCBGs) expressed a desire for improved technical guidance on fintech implementation.

Oceans and natural resources

Commonwealth countries are endowed with immense and precious natural resources. These include millions of square kilometres of ocean space, significant renewable (wind, solar) and non-renewable resources (oil, gas, minerals). When managed equitably and sustainably, the exploitation of natural resources bolsters national resilience to economic and social crises, improving prosperity for all citizens.

Natural Disasters, Trade Policy and Trade Negotiations: Challenges, Solutions and Resilience Building for Small Island Developing States and Others

Event
From December 1-3, 2021, the International Institute for Sustainable Development (IISD) is providing a virtual space 'The IISD’s Trade + Sustainability Hub' for civil society, government, business, and international organizations to discuss trade and sustainable development.

Commonwealth Launches Voluntary Information and Price Sharing Database

After three years in the making, last week the Commonwealth Secretariat launched its new Voluntary Information and Price-Sharing database (VIPSD). One-third of the world’s population lacks access to essential medicines, with most of them living in poor countries, while rising prices of new drugs are becoming a challenge in wealthy states. And, since the global Covid-19 pandemic, the urgent need for essential medicines has intensified.
Read press release - Commonwealth Launches Voluntary Information and Price Sharing Database

Finance Ministers call for change to development finance architecture to fight climate change and address debt vulnerabilities

At their annual meeting, Commonwealth Finance Ministers were urged to take action to change the current development finance architecture, enhance access to finance for countries vulnerable to climate change and address debt sustainability.
Read press release - Finance Ministers call for change to development finance architecture to fight climate change and address debt vulnerabilities