The Commonwealth Enterprise and Investment Council has pledged to deepen trade and investments within the Commonwealth.
The Council is growing in leaps and bounds and could now boast of over 155 business entities within its fold with more countries and businesses in Commonwealth countries expressing interest to join.
It is the business arm of the Commonwealth which was created by the 56 Heads of Government to promote trade and investments across the Commonwealth for shared and collective wealth between the member countries.
Commonwealth member states already enjoy a quantitative trade advantage, termed the ‘Commonwealth Advantage’ with 21% lower bilateral trading costs for businesses that operate intra-Commonwealth.
Addressing a press conference in Accra on Tuesday, October 10, 2023, after a two-day working visit to Ghana, Rosie Glazebrook, Chief Executive Officer of the Commonwealth Enterprise and Investment Council said the organisation intends to support businesses in Ghana and hopes Ghanaian local businesses will take advantage with the huge opportunities that come their way. This is considering other advantages with regard to trade expertise that could be shared.
The Council, she said has 12 hubs stressing that Africa is a hugely important market for the organisation with the African Free Trade Continental Agreement (AFTCA) also in place.
She hoped that the Council could build a partnership with the Government of Ghana as it has done with Cameroun, Sri Lanka and Bangladesh.
She said there are varied opportunities to be garnered from Infrastructure and investment opportunities including the agro-sector with Zenith Bank, GP, and Dangote, all of whom are part of their activities and support most initiatives.
The Commonwealth Trade and Investment Summit, she said, is due in London from November 27-28 followed by Commonwealth Summit in Malta, and hoped that Ghana would be fully represented. Two prime ministers have already expressed interest to participate in the investment Summit in London.
The Commonwealth, she said is a multilateral organisation and works with businesses all over.
Gabby Otchere Darko, Chair of the Ghana Office of the Commonwealth Enterprise and Investment Council said Ghana was proud to be part of the organisation with 2.4 billion people across the 56 Commonwealth countries of a combined Gross Domestic Product of $15 trillion and a combined wealth of 150 trillion dollars, stressing that Ghana is happy to be part because Africa is getting together with the African Free Trade Continental Area and hoped Ghana could take advantage to tap from the prosperity for all the members.
John Appiah, who is Head of Missions for Commonwealth Enterprise and Investment Council also was happy for the visit by Rosie Glazebrook.
Rosie Glazebroook, a member of the British Royal Family has served in many capacities. Her previous roles include, chairing the Publishers’ Licensing Services, the Copyright Licensing Agency, BSI Group’s Standards Policy and Strategy Committee.
The relationships between Ghana and the Commonwealth are not new. Ghana was the first fully sovereign African member of the Commonwealth, joining at independence in 1957.
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