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Commonwealth Trade Review 2015

The Commonwealth in the Unfolding Global Trade Landscape: Prospects, Priorities, Perspectives

image of Commonwealth Trade Review 2015

Fundamental changes are taking place in the global trade landscape, and the Commonwealth, with its diverse membership, is adapting to and coming to terms with these changes. This shifting landscape offers tremendous potential for Commonwealth countries to expand their trade – both between members and their overall trade. Although it is not a trading bloc, member countries can also take advantage of and leverage the Commonwealth for greater gains, while focusing on several broader priorities to improve their trade performance.

Commonwealth countries offer insightful perspectives on topical issues that can contribute to promoting the role of trade in development. This Commonwealth Trade Review addresses these issues in four parts:

Part 1 – The Commonwealth in a changing global trade landscape

Part 2 – Intra-Commonwealth trade: emerging dynamics and opportunities

Part 3 – Unleashing the trade potential: priorities for the Commonwealth

Part 4 – Perspectives on topical issues in trade

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Summary and Conclusions

Fundamental changes are taking place in the global trade landscape. In the process, significant transformations are underway in relation to the sources of growth of world trade, its direction of flows and patterns and, in turn, individual countries’ comparative and competitive advantages. These changes are being driven mainly by such factors as the rapidly growing trade of developing countries; growing trade interconnectedness through global value chain (GVC)-led fragmentation of production processes; proliferation of regional trading arrangements (RTAs); lack of dynamism in multilateral trade negotiations; and the impending need for actions to combat climate change.

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