International Agreements Committee
2 June 2026
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International Agreements Committee House of Lords
00:05 - 00:42
Speaker 3
Okay. Well, welcome, everyone. Good morning, and thank you very much indeed to the secretary general of, the Commonwealth coming and presenting to us today to follow-up on the inquiry we're, engaged in to try and understand how The UK can best take advantage or and or mitigate, against trade in the turbulent world. Joined by the honorable Shirley Botchway is ambassador Kwabena, Osei Dankwa, who's chief of staff to the secretary general, and Rajeev Baburam, adviser and head Commonwealth connectivity agenda, economic development, trade, and investment directorate. So thank you very much indeed, the three of you, joining us.
10:00 - 12:52
Speaker 1
Arm of of of the Commonwealth, where we would help countries, to strengthen their their trade institutions, their debt management, units. Units. And we have about 40 countries at the moment that are using debt management systems. And these are countries who find a lot of value in in in the debt management systems that of the commonwealth that they use, even to the point where now some non commonwealth countries are using the the debt management system. What we are also looking at as a commonwealth is how to increase trade and investment.
We stand at as at 02/2024, we stood at under 900,000,000,000 intra commonwealth trade. Now we have what could be described as an understanding to increase it to 2,000,000,000,000, Probably, I'm over ambitious because we've said that we'll increase it to by twenty thirty to two trillion. But I think that is a rallying call for for countries to to look at how best we can all work together. Fortunately for us, we have a a a a CHOGO, heads of government meeting coming up from the first to fourth of of November. And trade, is one area, and investment, which is one area where all the countries are in agreement that we need to increase trade, is one of the key areas that will be discussed by heads of government.
We're going to put across what we plan to do. We're working with the Commonwealth Investment Network, putting private sector to, the needs of governments, the gaps where they need investment. We're working with the the CWIC, to ensure that, the private sector is in in in engaged and is involved in the countries. And we are preparing the countries as well where it is needed for them to step up in terms of identifying the needs their needs so that we can match them with bankable projects. This chogum is going to be a bit different because we're inviting, as part of the heads of government meeting, regional development banks, multilateral development banks.
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