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Intra – Commonwealth Trade Projected to Rise by $6.5 Trillion in 5 Years

Eunniah MbabazibyEunniah Mbabazi
June 23, 2022
in Global News, Trade
Reading Time: 1 min read
Intra - Commonwealth Trade Projected to Rise by $6.5 Trillion in 5 Years

Intra – Commonwealth trade is expected to expand by $6.5 trillion in the next five years from the current $13 trillion, as the group seeks to strengthen both trade and investment ties between the 54 member countries.

Figures by the Secretariat show that trade costs within the Commonwealth are on average 21% lower, while investment flows are 27% higher than those between other country pairs.

The combined GDP of its countries is now around $13 trillion and is estimated to reach $19.5 trillion in 2027, with its population standing at over 2.4 billion.

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The statistics were made clear at the 2022 Commonwealth Business Forum (CBF 2022) in Kigali. The Forum will address the CHOGM theme – ‘Delivering a Common Future: Connecting, Innovating, Transforming’, with a focus on “A Global Reset”, dealing with the impact of the pandemic and the union’s role in rebuilding and reinvigorating the global economy.

See Also:

Comesa Launches Online Platform for Traders in the Regional Bloc


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