Intra-Commonwealth trade, investment to exceed $1.5trn

Intra-Commonwealth trade and productive greenfield investment is expected to reach 1.6 trillion dollars by 2020, in spite of the global trade slowdown caused by the 2008 financial crisis.

This rising share of intra-Commonwealth trade and investment underscored the growing significance of Commonwealth markets for member countries, according to a new report issued by Niall Jeger, Communications Officer, Commonwealth Secretariat.

The Commonwealth is a voluntary association of 53 independent and equal sovereign states and is home to 2.4 billion people and includes both advanced economies and developing countries.

Commonwealth Trade Review 2018, said proactive policy measures such as improving trade facilitation or tackling non-tariff barriers could trigger even greater gains for member countries.

In 2017, cumulative intra-Commonwealth greenfield foreign direct…