Business leaders, trade policymakers and leading global experts gathered at the World Export Development Forum in Sri Lanka’s capital Colombo today to share ideas on how to best to navigate the new trading landscape.
Business leaders, trade policymakers and leading global experts gathered at the World Export Development Forum in Sri Lanka’s capital Colombo today to share ideas on how to best to navigate the new trading landscape.
Major multi-region free trade agreements are being put forward, such as the Transatlantic Trade and Investment Partnership and the Trans-Pacific Partnership. Commonwealth Deputy Secretary-General, Deodat Maharaj, led a panel discussion on the opening day of the global conference. It was organised by the International Trade Centre and the Sri Lankan Economic Development Board.
“The global trading landscape is fast evolving, with new trade agreements being proposed and debated,” he said. “As the Commonwealth Secretariat, we stand alongside each of our members and strive to achieve better and sustainable development for all and in unison.
“We support opportunities for advancing prosperity, but stress the critical importance for all nations to be able to develop capacity to actively participate and take advantage of new trading avenues.
“There are 31 small states within the 53 countries that are the Commonwealth family, and as members of the Commonwealth, each has an equal voice. We are committed to building the capacities in our small and most vulnerable states, so that they can effectively participate in what is a complex arena for many.”
Concrete support by @commonwealthsec: #SME access to trade finance, advisers to help countries navigate processes. -@deodat_maharaj #WEDF16 pic.twitter.com/K8nGlwbWWu
— ITC (@ITCnews) October 12, 2016
The Commonwealth has long recognised trading challenges and has been taking practical and concrete measures to support its member states. These include analytical work, looking at emerging trends and issues to help inform policy and ongoing global advocacy. It provides advisory support at a national level to bolster trade capacities and the placement of long-term technical expertise on the ground in some of the smallest and most vulnerable countries. The Commonwealth has currently dozens of experts in ministries and national institutions around the world.
“The Commonwealth has provided support to many members, advising on export strategies for countries including Jamaica, Belize and Botswana,” said Deputy-Secretary Maharaj. “Even right here in Sri Lanka, we are currently helping to identify potential export diversification and assisting in assessing their current and future trade agreements.
“Of course, we respect the right for any country to enter into trade agreements as they so wish. But as the Commonwealth, we are dedicated to facilitating access and promoting participation for all nations, including small and vulnerable states, to opportunities for trade and economic growth. We assist our member states in taking informed decisions by analysing both opportunities and challenges in trade agreements.”
#WEDF16 @PScotlandCSG video msg @commonwealthsec "firm intent to provide innovative & practical assistance for access to trade finance" pic.twitter.com/dh8Wq9KoxA
— Kathleen Prior (@KathleenAPrior) October 12, 2016
