2012 has started with the same economic uncertainty that 2011 ended with and the UK needs to look for Partners around the world that are growing fast that can supplement the UKs existing relationships in Europe and US. The Commonwealth’s emerging markets are the obvious choice, our pre-existing relationships make doing business together easier and similar institutions and business methods can bring the cost of doing business down by up to 20%. Most Commonwealth Countries will grow at over 5% this year and all represent colossal opportunities for British companies.
Historically, Britain used to count countries such as New Zealand, India, Australia, Singapore and Canada among its leading trading partners.
Since joining the European single market, Germany, France, Holland and Belgium have assumed far greater importance to us while only five Commonwealth countries struggle to make it onto the list of top 25 export destinations.
However times could be changing. The latest overseas trade statistics show the biggest increase in exports are to our Commonwealth partners and if trends continue they are set to play a far more important part in our economic life.
In the 12 months up to the end of September our exports to India – roaring ahead with 9% growth – increased by a whopping 33.5% compared with the same period a year earlier.
Exports to Canada jumped 18.3% in the same period and those to Australia were up 30% while those to South Africa rose by 31%.
These are good improvements but there is massive potential in the Commonwealth and Britain should be at the forefront taking advantage of it.
Showing posts with label Commonwealth. Show all posts
Showing posts with label Commonwealth. Show all posts
Tuesday, 10 January 2012
Saturday, 29 October 2011
Commonwealth Business Forum 2011
Commonwealth Business Forum 2011
Perth, Australia, 25th -27th October 2011
Partnering for Global Growth: The Commonwealth, the Indian Ocean and the Pacific Rim
Communiqué and Report to Heads of Government (CHOGM)
The New Commonwealth
This has been the biggest and most vibrant Commonwealth Business Forum ever. Over 1400 business and government leaders from 54 countries participated over the three days, including 16 Heads of Government. 150 global business leaders and experts addressed the Forum and we held 20 country/state investment windows, including 6 led by Heads.
The CBF is a growing part of the CHOGM experience, evidence that trade, investment and economic partnerships are now part of the lifeblood of the new Commonwealth. In the words of Australia’s leading financial title, “a new kind of Commonwealth was on show” in the Perth CBF, which can aid the revival of the association and make it relevant to the modern world. We expect this “rebranding” will enhance the role and strength of the Commonwealth further.
We therefore ask Heads of Government to reshape the way the Commonwealth works and focus more on cooperation for trade and investment, jobs and growth to complement its work on good governance. CBC is willing to mobilise the Commonwealth private sector in this effort under the leadership of the incoming Commonwealth Chair in Office, the Prime Minister of Australia.
The Commonwealth and the Investment Climate
The business leaders and experts agreed that the majority of the Commonwealth - including developed as well as developing countries - are better placed than many to weather the current economic turbulence. Commonwealth countries are investment destinations of choice, have high governance and business standards. The World Bank and international agencies recognise that these standards continue to rise. It is important to maintain this momentum. Australia, as a successful developed economy and chair-in-office is in an excellent position to lead this Commonwealth effort.
Global Outlook
The attention of the business community is now on the overall health of the global economy. Economic forecasting is not the purpose of the CBF, but the dangers of a double dip recession in Europe and North America, with collateral damage to all emerging markets is real. At the same time, the underlying changes occurring in the global economy continue to point to a long and historic cycle of growth. 4-7% growth rates in emerging markets are now a long-term norm, part of the embedded structure of the new world economy.
While national and personal debt levels in many larger economies are high, one bright light is that globally, corporate balance sheets and reserves are in very good shape. This illustrates the importance of governments taking firm action to manage markets and fiscal systems to promote confidence, so that these capital resources can be used to invest in growth.
The opportunities for growth in the next century revolve around biotechnology, information technology, green growth and renewable energy. Governments need to work with the private sector, universities and civil society to harness technology to create sustainable growth.
Free Trade and Open Markets
We welcome the leadership of the Australian Government in committing to zero tariffs for emerging economies, and we urge leaders to explore ways in which bilateral and multi-country agreements can be advanced to promote growth.
Public Private Dialogue
The importance of dialogue between governments and business at a global and national level has never been greater. This is illustrated by the discussion of a number of key topics –climate change, infrastructure, and natural resources that remain fundamental to development in all economies. There is a declining trend line in available public funding. Private capital can take up the slack, but this requires a clear and predictable rate of return. This is a further example of how well managed public private partnerships are needed to facilitate investment.
The message to leaders is to stay the course to effectively manage globalisation for growth. We urge Heads of Government to focus on the following priorities: skills and education for jobs; access to finance for business growth; infrastructure development; support for SMEs; business friendly tax policies; tackle corruption and strengthen corporate governance.
The Commonwealth Regions
Africa is a new zone of economic development and growth, confidence and stability – poised to use its enormous resources to benefit hundreds of millions of its citizens.
This week’s discussions and investment sessions also reinforce the potential of an Indian Ocean economic zone – which can be built on over the next two CHOGMs in Sri Lanka and Mauritius. The ability of this region, including South Asia, to drive sustained growth is strong. Our sessions on Australia, Mauritius, Malaysia, Pakistan and Sri Lanka demonstrate this.
The Pacific is perhaps the least known region in the world with special opportunities, and we are glad to have had a delegation from 8 Pacific countries with us. New joint programmes were agreed.
The link developed with Caribbean countries was further strengthened, creating new linkages with Australia and using the Caribbean as an entry point for the Americas. We confirm the importance of small states and islands to the business promotion work of the Commonwealth.
Actions and Results
At the Forum we launched a number of practical initiatives.
1. Mining: to complement the Australian Mining for Development Initiative announced this week, we established the Commonwealth Mining Network that will help to link the private sector to the needs of Commonwealth developing governments to manage their mining sectors more sustainably. We thank the companies and chambers that have agreed to support this.
2. Skills for Jobs and Careers: to strengthen public private partnerships on employment creation and careers, we are launching an initiative to link business-designed training with career opportunities for disadvantaged citizens across the Commonwealth. The Australian covenant for disadvantaged citizens is a promising model with its link between training and guaranteed employment. We invite interested Commonwealth governments to work with CBC to establish nationally tailored programmes based on this model.
3. Enterprise: SME development is at the heart of employment creation and sustainable growth. The Australian Chamber of Commerce and Western Australia Chamber of Commerce have agreed with CBC to set up a programme with the Bank of Industry Nigeria and partners from the Pacific, India, and Africa to work with companies and governments to use their supply chains and other measures to support enterprise and the SME sector.
4. Women own up to 39% of private businesses in the formal economy but have not penetrated the global supply chain, are underrepresented on boards, and lack access to finance. CBC will work with the International Federation of Women Entrepreneurs and British Association of Women Entrepreneurs to establish a Commonwealth Businesswomen’s Network to strengthen the overarching strategy for women in business around procurement and policy.
5. We were delighted to have with us more than 60 Chinese business leaders who joined us for the discussions on Commonwealth-China cooperation, and we had our first ever CBF sponsor from China – ICBC. We signed an MOU between CBC and the China Council for the Promotion of International Trade (CCPIT) to forge greater cooperation that will launch a Commonwealth-China business network.
6. We began a new cooperation between CBC and the Pacific Forum on Pacific trade and investment.
7. We established the Australia-Nigeria Trade and Investment Council. We believe that this is a good example of how the friendships and solid relationships of the Commonwealth can be used to develop economic cooperation. If the world stands still on trade and investment reform, the Commonwealth partners can still find ways to move ahead.
8. Sport: CBC will set up a group of leading Commonwealth companies to develop the ways that business can be more involved in using sport for economic growth and jobs.
9. The Investment Promotion Agencies (IPAs) and CBC will establish a Commonwealth IPA network to share best practice and improve links between IPAs. We will set up an e-platform network and work together in preparing for CBF 2013.
10. Improving Business: to increase ease of doing business the Forum endorses consideration of a Commonwealth business visa similar to APEC. The Forum received a presentation on a Commonwealth Cybercrime Initiative, which was welcomed by business.
Finally, the deal flow discussed at this Forum is on track to deliver $10bn in new projects and investments over the next 6-9 months. We have been able to organise a large number of high-level meetings around the $100bn of projects in the CBF project exchange. We expect the thousands of 1-2-1 exchanges between delegates to lead to a healthy deal flow in 2012.
We would like to thank our more than 180 speakers and chairs of sessions, and once again express sincere thanks to Prime Minister Gillard and the Australian Government, Premier Colin Barnett and the Government of Western Australia for their support in hosting the meeting. We also express our appreciation to our Forum Steering Committee lead by John Denton and Mark Barnaba as well as each of the 50 organisations whose sponsorship made it possible, especially our principal sponsors ANZ, BP, Fortescue, Perdaman, Rio Tinto, and Woodside. A full list is annexed.
Commonwealth Business Council
Perth, Australia
27 October 2011
Perth, Australia, 25th -27th October 2011
Partnering for Global Growth: The Commonwealth, the Indian Ocean and the Pacific Rim
Communiqué and Report to Heads of Government (CHOGM)
The New Commonwealth
This has been the biggest and most vibrant Commonwealth Business Forum ever. Over 1400 business and government leaders from 54 countries participated over the three days, including 16 Heads of Government. 150 global business leaders and experts addressed the Forum and we held 20 country/state investment windows, including 6 led by Heads.
The CBF is a growing part of the CHOGM experience, evidence that trade, investment and economic partnerships are now part of the lifeblood of the new Commonwealth. In the words of Australia’s leading financial title, “a new kind of Commonwealth was on show” in the Perth CBF, which can aid the revival of the association and make it relevant to the modern world. We expect this “rebranding” will enhance the role and strength of the Commonwealth further.
We therefore ask Heads of Government to reshape the way the Commonwealth works and focus more on cooperation for trade and investment, jobs and growth to complement its work on good governance. CBC is willing to mobilise the Commonwealth private sector in this effort under the leadership of the incoming Commonwealth Chair in Office, the Prime Minister of Australia.
The Commonwealth and the Investment Climate
The business leaders and experts agreed that the majority of the Commonwealth - including developed as well as developing countries - are better placed than many to weather the current economic turbulence. Commonwealth countries are investment destinations of choice, have high governance and business standards. The World Bank and international agencies recognise that these standards continue to rise. It is important to maintain this momentum. Australia, as a successful developed economy and chair-in-office is in an excellent position to lead this Commonwealth effort.
Global Outlook
The attention of the business community is now on the overall health of the global economy. Economic forecasting is not the purpose of the CBF, but the dangers of a double dip recession in Europe and North America, with collateral damage to all emerging markets is real. At the same time, the underlying changes occurring in the global economy continue to point to a long and historic cycle of growth. 4-7% growth rates in emerging markets are now a long-term norm, part of the embedded structure of the new world economy.
While national and personal debt levels in many larger economies are high, one bright light is that globally, corporate balance sheets and reserves are in very good shape. This illustrates the importance of governments taking firm action to manage markets and fiscal systems to promote confidence, so that these capital resources can be used to invest in growth.
The opportunities for growth in the next century revolve around biotechnology, information technology, green growth and renewable energy. Governments need to work with the private sector, universities and civil society to harness technology to create sustainable growth.
Free Trade and Open Markets
We welcome the leadership of the Australian Government in committing to zero tariffs for emerging economies, and we urge leaders to explore ways in which bilateral and multi-country agreements can be advanced to promote growth.
Public Private Dialogue
The importance of dialogue between governments and business at a global and national level has never been greater. This is illustrated by the discussion of a number of key topics –climate change, infrastructure, and natural resources that remain fundamental to development in all economies. There is a declining trend line in available public funding. Private capital can take up the slack, but this requires a clear and predictable rate of return. This is a further example of how well managed public private partnerships are needed to facilitate investment.
The message to leaders is to stay the course to effectively manage globalisation for growth. We urge Heads of Government to focus on the following priorities: skills and education for jobs; access to finance for business growth; infrastructure development; support for SMEs; business friendly tax policies; tackle corruption and strengthen corporate governance.
The Commonwealth Regions
Africa is a new zone of economic development and growth, confidence and stability – poised to use its enormous resources to benefit hundreds of millions of its citizens.
This week’s discussions and investment sessions also reinforce the potential of an Indian Ocean economic zone – which can be built on over the next two CHOGMs in Sri Lanka and Mauritius. The ability of this region, including South Asia, to drive sustained growth is strong. Our sessions on Australia, Mauritius, Malaysia, Pakistan and Sri Lanka demonstrate this.
The Pacific is perhaps the least known region in the world with special opportunities, and we are glad to have had a delegation from 8 Pacific countries with us. New joint programmes were agreed.
The link developed with Caribbean countries was further strengthened, creating new linkages with Australia and using the Caribbean as an entry point for the Americas. We confirm the importance of small states and islands to the business promotion work of the Commonwealth.
Actions and Results
At the Forum we launched a number of practical initiatives.
1. Mining: to complement the Australian Mining for Development Initiative announced this week, we established the Commonwealth Mining Network that will help to link the private sector to the needs of Commonwealth developing governments to manage their mining sectors more sustainably. We thank the companies and chambers that have agreed to support this.
2. Skills for Jobs and Careers: to strengthen public private partnerships on employment creation and careers, we are launching an initiative to link business-designed training with career opportunities for disadvantaged citizens across the Commonwealth. The Australian covenant for disadvantaged citizens is a promising model with its link between training and guaranteed employment. We invite interested Commonwealth governments to work with CBC to establish nationally tailored programmes based on this model.
3. Enterprise: SME development is at the heart of employment creation and sustainable growth. The Australian Chamber of Commerce and Western Australia Chamber of Commerce have agreed with CBC to set up a programme with the Bank of Industry Nigeria and partners from the Pacific, India, and Africa to work with companies and governments to use their supply chains and other measures to support enterprise and the SME sector.
4. Women own up to 39% of private businesses in the formal economy but have not penetrated the global supply chain, are underrepresented on boards, and lack access to finance. CBC will work with the International Federation of Women Entrepreneurs and British Association of Women Entrepreneurs to establish a Commonwealth Businesswomen’s Network to strengthen the overarching strategy for women in business around procurement and policy.
5. We were delighted to have with us more than 60 Chinese business leaders who joined us for the discussions on Commonwealth-China cooperation, and we had our first ever CBF sponsor from China – ICBC. We signed an MOU between CBC and the China Council for the Promotion of International Trade (CCPIT) to forge greater cooperation that will launch a Commonwealth-China business network.
6. We began a new cooperation between CBC and the Pacific Forum on Pacific trade and investment.
7. We established the Australia-Nigeria Trade and Investment Council. We believe that this is a good example of how the friendships and solid relationships of the Commonwealth can be used to develop economic cooperation. If the world stands still on trade and investment reform, the Commonwealth partners can still find ways to move ahead.
8. Sport: CBC will set up a group of leading Commonwealth companies to develop the ways that business can be more involved in using sport for economic growth and jobs.
9. The Investment Promotion Agencies (IPAs) and CBC will establish a Commonwealth IPA network to share best practice and improve links between IPAs. We will set up an e-platform network and work together in preparing for CBF 2013.
10. Improving Business: to increase ease of doing business the Forum endorses consideration of a Commonwealth business visa similar to APEC. The Forum received a presentation on a Commonwealth Cybercrime Initiative, which was welcomed by business.
Finally, the deal flow discussed at this Forum is on track to deliver $10bn in new projects and investments over the next 6-9 months. We have been able to organise a large number of high-level meetings around the $100bn of projects in the CBF project exchange. We expect the thousands of 1-2-1 exchanges between delegates to lead to a healthy deal flow in 2012.
We would like to thank our more than 180 speakers and chairs of sessions, and once again express sincere thanks to Prime Minister Gillard and the Australian Government, Premier Colin Barnett and the Government of Western Australia for their support in hosting the meeting. We also express our appreciation to our Forum Steering Committee lead by John Denton and Mark Barnaba as well as each of the 50 organisations whose sponsorship made it possible, especially our principal sponsors ANZ, BP, Fortescue, Perdaman, Rio Tinto, and Woodside. A full list is annexed.
Commonwealth Business Council
Perth, Australia
27 October 2011
Wednesday, 13 July 2011
Commonwealth Eminent Persons Group
We appreciate the work the Eminent Persons Group has done on looking at the future of the Commonwealth, particularly there recognition of the need to Commonwealth Trade Ministers meeting. However, I have concerns that some of the key issues are not being addressed, particularly the role of the Commonwealth in advancing economic and social development.
Commonwealth Heads of Government specifically targeted these goals as new priorities in their 1997 Edinburgh Commonwealth Economic Declaration "Promoting Shared Prosperity", and set up the Commonwealth Business Council and biannual Commonwealth Business Forum to advance this. As they concluded in their 1997 Declaration, the growth and investment agenda requires "vigorous" collective efforts if it is to be advanced.
I would encourage the EPG to include a focus on 3 specific areas, in their final draft.
There should be specific mention in the proposed Commonwealth Charter of – promoting economic prosperity and growth through joint business and government partnerships. This would result in the creation of millions of new jobs, SMEs and cross Commonwealth investment which would be of benefit to all commonwealth citizens.
A clear formal cooperation mechanism between on the one hand the Secretariat, and on the other the CBC and other similar, large Commonwealth organisations should be included in the final draft. In order to deliver improved technical assistance and development programmes to support the economic development focus.
And that the achievements of CBC and CBF be formally recognised by EPG, CBF has become a uniquely valued and important part of the Heads' programme and is now seen as an integral part of CHOGM. CBC itself has become the second largest Commonwealth organisation, without any core government funding, and has raised some £30m for its own work since inception. In the last two years, 25 member state governments have worked directly with the CBC on a range of investment promotion and policy exercises linked to SME development, infrastructure, energy, and health and job creation.
I strongly support the EPG’s focus on political good governance. However, the EPG report is currently incomplete and unbalanced as it lacks a serious treatment of economic development issues.
I hope the EPG will take these points to heart, making the Commonwealth Relevant for today means making it focus on issues that are on the minds of Heads of Government, day to day. Namely, job creation, investment, business development and economic growth as well as the Good Governance and Human Rights. The Commonwealth should give equal focus to both governance and economic as they are 2 sides of the same coin.
Commonwealth Heads of Government specifically targeted these goals as new priorities in their 1997 Edinburgh Commonwealth Economic Declaration "Promoting Shared Prosperity", and set up the Commonwealth Business Council and biannual Commonwealth Business Forum to advance this. As they concluded in their 1997 Declaration, the growth and investment agenda requires "vigorous" collective efforts if it is to be advanced.
I would encourage the EPG to include a focus on 3 specific areas, in their final draft.
There should be specific mention in the proposed Commonwealth Charter of – promoting economic prosperity and growth through joint business and government partnerships. This would result in the creation of millions of new jobs, SMEs and cross Commonwealth investment which would be of benefit to all commonwealth citizens.
A clear formal cooperation mechanism between on the one hand the Secretariat, and on the other the CBC and other similar, large Commonwealth organisations should be included in the final draft. In order to deliver improved technical assistance and development programmes to support the economic development focus.
And that the achievements of CBC and CBF be formally recognised by EPG, CBF has become a uniquely valued and important part of the Heads' programme and is now seen as an integral part of CHOGM. CBC itself has become the second largest Commonwealth organisation, without any core government funding, and has raised some £30m for its own work since inception. In the last two years, 25 member state governments have worked directly with the CBC on a range of investment promotion and policy exercises linked to SME development, infrastructure, energy, and health and job creation.
I strongly support the EPG’s focus on political good governance. However, the EPG report is currently incomplete and unbalanced as it lacks a serious treatment of economic development issues.
I hope the EPG will take these points to heart, making the Commonwealth Relevant for today means making it focus on issues that are on the minds of Heads of Government, day to day. Namely, job creation, investment, business development and economic growth as well as the Good Governance and Human Rights. The Commonwealth should give equal focus to both governance and economic as they are 2 sides of the same coin.
Thursday, 2 June 2011
China and the Commonwealth
I was delighted to return to Beijing in May to Launch the Commonwealth Business Forum 2011 to the Chinese Market. China will be an important player in this year’s Forum given Perth’s, the host city, resource development with the country and Commonwealth’s African Members increasing relationships with Beijing. We hope the Forum can be a stepping stone to introducing Chinese companies and investment to some of the Commonwealth less well known Members.
While there I was honoured to be invited to address the China Council for the Promotion of International Trade’s annual Chinese Enterprises Outbound Investment Conference. This was the first time the Commonwealth was represented at the Conference and I was delighted to have the opportunity to introduce the 1000 plus delegates to the opportunities available in the association.
Ensuring the Commonwealth’s myriad opportunities are well recognised in China is essential given the scale of the countries overseas investment, in 2009 Chinese Companies invested US$56.3 billion dollars abroad; this was 3125 investments to overseas companies, in 129 countries. As China continues its ‘Going Global’ policy it is essential that the Commonwealth gets its share of this increasingly large pie.
While there I was honoured to be invited to address the China Council for the Promotion of International Trade’s annual Chinese Enterprises Outbound Investment Conference. This was the first time the Commonwealth was represented at the Conference and I was delighted to have the opportunity to introduce the 1000 plus delegates to the opportunities available in the association.
Ensuring the Commonwealth’s myriad opportunities are well recognised in China is essential given the scale of the countries overseas investment, in 2009 Chinese Companies invested US$56.3 billion dollars abroad; this was 3125 investments to overseas companies, in 129 countries. As China continues its ‘Going Global’ policy it is essential that the Commonwealth gets its share of this increasingly large pie.
Friday, 25 March 2011
Eminent Persons Group's Recommendations
While I welcome the Eminent Persons Group's recommendations on the need for reform and greater collaboration between commonwealth agencies, what was not in the report was a great disappointment.
The report did not specify what reforms need to be conducted to ensure the association stays relevant in the future and keeps delivering for all 54 states. The statement on collaboration between agencies and Secretariat, fails to elaborate on the quality and type of technical assistance, or on the delivery of technical assistance through the Commonwealth's Key agencies outside the Secretariat. Delivering though other agencies could be key mechanism to reduce the cost of delivering technical assistance, improving is quality and reducing duplication and redundancy within the Commonwealth family. This would allow the size of Secretariat to be reduced while increasing the quality of scope of the Technical Assistance provided.
It is equally disappointing that the Eminent Persons did not talk about the Private sector and growth, as I have mentioned before, it is my belief that the Commonwealth works at its very best when giving dual focus to both the Harare Declaration on Human Rights and the Edinborough Economic Declaration. And in this time of increased economic hardships in most Commonwealth countries, private sector money is going to be more and more important. It is unlikely Governments are going to put forward large sums of new money given the pressing domestic priorities. Refocusing existing money and mobilising the private sector and other funding sources could be an answer.
As the Eminent Persons Group have said there is now real possibility of the official Commonwealth slowly moving towards the end of the road. I hope the upcoming CHOGM to be held in Perth, Australia in October will give the Association a new beginning. But given the contents of the eminent persons report, I fear it is again going to be tweaking rather than true reform.
The report did not specify what reforms need to be conducted to ensure the association stays relevant in the future and keeps delivering for all 54 states. The statement on collaboration between agencies and Secretariat, fails to elaborate on the quality and type of technical assistance, or on the delivery of technical assistance through the Commonwealth's Key agencies outside the Secretariat. Delivering though other agencies could be key mechanism to reduce the cost of delivering technical assistance, improving is quality and reducing duplication and redundancy within the Commonwealth family. This would allow the size of Secretariat to be reduced while increasing the quality of scope of the Technical Assistance provided.
It is equally disappointing that the Eminent Persons did not talk about the Private sector and growth, as I have mentioned before, it is my belief that the Commonwealth works at its very best when giving dual focus to both the Harare Declaration on Human Rights and the Edinborough Economic Declaration. And in this time of increased economic hardships in most Commonwealth countries, private sector money is going to be more and more important. It is unlikely Governments are going to put forward large sums of new money given the pressing domestic priorities. Refocusing existing money and mobilising the private sector and other funding sources could be an answer.
As the Eminent Persons Group have said there is now real possibility of the official Commonwealth slowly moving towards the end of the road. I hope the upcoming CHOGM to be held in Perth, Australia in October will give the Association a new beginning. But given the contents of the eminent persons report, I fear it is again going to be tweaking rather than true reform.
Thursday, 10 March 2011
Public Sector Reform in the UK
In the UK currently much of the political discourse is centred on reducing Britain's Deficit and the Government's cuts in spending and the resulting impact on public services. However there is a second quite interesting stream to the government's plans that is receiving less media attention, the reform and the enhance role of the private sector in public services.
The UK has led in the past on enhancing the role business plays in the public sector, throughout the 80s it was the privatisation of unities, something that many other countries have emulated since. In the 90s and early 2000s it was the UK that led the way on Public Private Partnerships with PFIs, this initiative is also used increasing abroad and the UK is one of the world's largest providers of experts in this field.
The UK has a history of innovative public sector reform and this next round proposed by the Prime Minister David Cameron has the opportunity to be in the same vein. Plans to open government contracts up to SMEs rather than just large Corporates, for example, is sensible, it allows the country's largest employing sector access to the country's largest buyer. And widening the role the Private Sector can play in the provision of services will increase competition and hopefully improve quality at a time when government is decreasing spending.
If well implemented, this round of reform could well be emulated across the globe like the past.
The UK has led in the past on enhancing the role business plays in the public sector, throughout the 80s it was the privatisation of unities, something that many other countries have emulated since. In the 90s and early 2000s it was the UK that led the way on Public Private Partnerships with PFIs, this initiative is also used increasing abroad and the UK is one of the world's largest providers of experts in this field.
The UK has a history of innovative public sector reform and this next round proposed by the Prime Minister David Cameron has the opportunity to be in the same vein. Plans to open government contracts up to SMEs rather than just large Corporates, for example, is sensible, it allows the country's largest employing sector access to the country's largest buyer. And widening the role the Private Sector can play in the provision of services will increase competition and hopefully improve quality at a time when government is decreasing spending.
If well implemented, this round of reform could well be emulated across the globe like the past.
Monday, 21 February 2011
Power in the Commonwealth
Many Commonwealth County's development aims are being held back by
inadequate power supply and infrastructure. We have prioritised
infrastructure development in developing Commonwealth countries as a key
driver of economic growth and living standards, as a part of this we
will hold our first Ministerial Power Summit next week in London.
The summit is designed to bring together key stake holders in the power
sector to discuss in detail the issues facing the industry, and share
best practice and solutions from around the Commonwealth. The Summit
will be addressed by Power Ministers from 12 countries including 2 of
the Commonwealths largest markets, India and Nigeria. The Ministers will
present, to the audience of power experts and financiers, on the
opportunities and challenges in there respective countries. Many are
traveling with delegations including senior officials and
representatives of their regulatory bodies.
Over the next 15 years global energy demand is expected to grow by 49%
with at least 70% of this will come from developing countries, led by
China and India. Government alone will be unable to deliver the
generation capacity required to meet this increase in demand.
Partnership between the private sector and Government are going to be
essential and the sharing of best practice between countries that have
already developed successful models will be required. We hope that next
weeks power summit will be able to help with this.
inadequate power supply and infrastructure. We have prioritised
infrastructure development in developing Commonwealth countries as a key
driver of economic growth and living standards, as a part of this we
will hold our first Ministerial Power Summit next week in London.
The summit is designed to bring together key stake holders in the power
sector to discuss in detail the issues facing the industry, and share
best practice and solutions from around the Commonwealth. The Summit
will be addressed by Power Ministers from 12 countries including 2 of
the Commonwealths largest markets, India and Nigeria. The Ministers will
present, to the audience of power experts and financiers, on the
opportunities and challenges in there respective countries. Many are
traveling with delegations including senior officials and
representatives of their regulatory bodies.
Over the next 15 years global energy demand is expected to grow by 49%
with at least 70% of this will come from developing countries, led by
China and India. Government alone will be unable to deliver the
generation capacity required to meet this increase in demand.
Partnership between the private sector and Government are going to be
essential and the sharing of best practice between countries that have
already developed successful models will be required. We hope that next
weeks power summit will be able to help with this.
Friday, 7 January 2011
Planning for 2011
This year is going to be one of CBC's busiest. As a CHOGM year 2011 will have a strong focus on Perth and the build up to the Commonwealth Business Forum in October. However before we fly to Australia we will hold events across the Commonwealth. Starting next week in Gujarat, India where we will hold a SME roundtable as part of the Vibrant Gujarat event. Our Africa focus will be maintained by the Africa Investment Forum to be held in Tanzania and the G8 Africa Business Forum to be held in London. We will return to the Americas for the Caribbean Investment Forum in Trinidad & Tobago. This is alongside plans to host a number of Commonwealth Heads of Governments and Senior Ministers at Members functions throughout the coming year.
While Perth will be our main focus over the coming year as we develop the business forum programme with our corporate members and other stake holders, we will focus on 4 main themes throughout 2011.
1) Broaden the range of Commonwealth countries that CBC interacts with and play a role in promoting Trade and Investment in their economies.
2) Play a greater role in helping strengthen connections between Commonwealth countries and the wider global economy.
3) Continue CBC's focus on infrastructure development as a key support for growth and development
4) Finally CBC will develop a stronger focus on helping SMEs to internationalise into the global economy
While Perth will be our main focus over the coming year as we develop the business forum programme with our corporate members and other stake holders, we will focus on 4 main themes throughout 2011.
1) Broaden the range of Commonwealth countries that CBC interacts with and play a role in promoting Trade and Investment in their economies.
2) Play a greater role in helping strengthen connections between Commonwealth countries and the wider global economy.
3) Continue CBC's focus on infrastructure development as a key support for growth and development
4) Finally CBC will develop a stronger focus on helping SMEs to internationalise into the global economy
Monday, 27 December 2010
2010 and the Commonwealh
2010 has been a difficult year for the world economy with growth stifled in the developed world and deficits to be tackled. The Emerging world on the other hand has demonstrated the intrinsic strength and is proving that the engine of the Global economy has categorically shifted to the East.
Over the last year, millions have joined the middle class in Africa, Asia and the Caribbean and are entering the global economy as consumers, this will continue. In Africa alone, 200m people will enter the market for consumer goods over the next five years. 2010 has been a year of surprisingly good global growth of around 4%, with emerging markers displaying rates of between 6-7% and the developed world 2-3%. This will be the pattern for years to come as the emerging nations drive the global economy forward.
Much has been written about Asia's role in the world (especially given China's emergence as the second largest economy in the world earlier this year) but the story that gets less recognition is Africa's growth story, 5% this year and predicted to be around 5.5% next year. In 2010 Ngozi Okonjo-Iweala, Managing Director of The World Bank said that Africa could be the next BRIC, and become a major recipient of investment rather than aid. At the same time McKinsey told companies, that 'global businesses cannot afford to ignore the potential' of Africa.
Africa's growth is creating massive new business opportunities, it is predicted that Africa's 4 leading industries, retail services, agriculture, resources, and infrastructure could generate as much as $2.6 trillion in revenue annually by 2020. And Africa is gaining greater access to foreign investment, total FDI into Africa rose from $9 billion in 2000 to $62 billion in 2008, and today the rate of return on foreign investment in Africa is higher than in any other developing region.
In 2011 CBC will continue its engagement with all the Commonwealth nations, we will hold investment and business promotion events in Africa, the Caribbean, Asia and the UK. And in October 2011 we will host the 8th Commonwealth Business Forum in Australia. CBF 2011 will be a major event for Large and small companies with about 1000 business leaders attending.It will also help us to reach pacific small states that we have had difficulty engaging with before. 2011 should be an exciting year!
Over the last year, millions have joined the middle class in Africa, Asia and the Caribbean and are entering the global economy as consumers, this will continue. In Africa alone, 200m people will enter the market for consumer goods over the next five years. 2010 has been a year of surprisingly good global growth of around 4%, with emerging markers displaying rates of between 6-7% and the developed world 2-3%. This will be the pattern for years to come as the emerging nations drive the global economy forward.
Much has been written about Asia's role in the world (especially given China's emergence as the second largest economy in the world earlier this year) but the story that gets less recognition is Africa's growth story, 5% this year and predicted to be around 5.5% next year. In 2010 Ngozi Okonjo-Iweala, Managing Director of The World Bank said that Africa could be the next BRIC, and become a major recipient of investment rather than aid. At the same time McKinsey told companies, that 'global businesses cannot afford to ignore the potential' of Africa.
Africa's growth is creating massive new business opportunities, it is predicted that Africa's 4 leading industries, retail services, agriculture, resources, and infrastructure could generate as much as $2.6 trillion in revenue annually by 2020. And Africa is gaining greater access to foreign investment, total FDI into Africa rose from $9 billion in 2000 to $62 billion in 2008, and today the rate of return on foreign investment in Africa is higher than in any other developing region.
In 2011 CBC will continue its engagement with all the Commonwealth nations, we will hold investment and business promotion events in Africa, the Caribbean, Asia and the UK. And in October 2011 we will host the 8th Commonwealth Business Forum in Australia. CBF 2011 will be a major event for Large and small companies with about 1000 business leaders attending.It will also help us to reach pacific small states that we have had difficulty engaging with before. 2011 should be an exciting year!
Wednesday, 15 December 2010
MSMEs and the Commonwealth
Small companies are the life blood of all Commonwealth economies. In the UK, for example, MSMEs account for 99% of all businesses. As much as 50% of the UK’s workforce is employed by companies employing less than 100 people and on average 65% of all new jobs are created by MSMEs each year.
As the UK looks to export its way out of recession greater emphasis is being placed on helping to internationalise MSMEs, as only the most innovative and competitive MSMEs will succeed in international markets. A strategy that focuses on supporting fast growing and innovative MSMEs internationalise will reap disproportionately large returns for all countries involved. India in particular is seen as an enormous potential market for MSMEs, but so far UK companies have struggled to penetrate the market.
India has continually demonstrated an ability to nurture its own MSMEs into national and international corporations, almost all the major Indian companies have developed from humble origins within living memory. India is therefore an important market for international MSMEs looking to win new business and for those countries looking to learn how they can support and develop their own MSMEs.
Doing business with another Commonwealth country can be up to 20% less expensive than doing business with non-Commonwealth countries as a result of the ‘Commonwealth Factor’. These factors are of disproportionate advantage to MSMEs, so the Commonwealth relationships can play a key role in developing international MSMEs that will help drive growth and job creation across the 54 member countries of the association.
As the UK looks to export its way out of recession greater emphasis is being placed on helping to internationalise MSMEs, as only the most innovative and competitive MSMEs will succeed in international markets. A strategy that focuses on supporting fast growing and innovative MSMEs internationalise will reap disproportionately large returns for all countries involved. India in particular is seen as an enormous potential market for MSMEs, but so far UK companies have struggled to penetrate the market.
India has continually demonstrated an ability to nurture its own MSMEs into national and international corporations, almost all the major Indian companies have developed from humble origins within living memory. India is therefore an important market for international MSMEs looking to win new business and for those countries looking to learn how they can support and develop their own MSMEs.
Doing business with another Commonwealth country can be up to 20% less expensive than doing business with non-Commonwealth countries as a result of the ‘Commonwealth Factor’. These factors are of disproportionate advantage to MSMEs, so the Commonwealth relationships can play a key role in developing international MSMEs that will help drive growth and job creation across the 54 member countries of the association.
Thursday, 25 November 2010
Good governance and increased prosperity
On recent trips to Asia both the British Prime Minister, David Cameron and the US President, Barack Obama have made the point of highlighting one of things that can make the Commonwealth stand out in the future – the importance of the link between good governance and increased prosperity.
Addressing the tricky topic at his lecture in a Chinese’s university, David Cameron said ‘I am convinced that the best guarantor of prosperity and stability is for economic and political progress to go in step together.’. This approach is key to the Commonwealth future success, I have always argued that the Commonwealth should give an equal focus to both the Harare Principles, on good governance and human rights and to the Edinborough Economic Declaration. This is proven by many Commonwealth members, who are required to abide by certain rules regarding governance, human rights and the rule of law, or face expulsion from the association. It is no coincidence that the same countries are nearly always investment destinations of choice.
Making this point very clearly, President Obama in his address to the Joint Session of the Indian Parliament during his recent trip said "As India marks 60 years with a strong and democratic constitution, the lesson is clear: India has succeeded, not in spite of democracy; India has succeeded because of democracy,"
Britain, India and other Commonwealth countries can help in the development of other countries by explaining how their focus on good governance has led to increased investment and increased prosperity. Commonwealth successes, are based on a respect for the rule of law, human rights, etc as it is these things that give investors the confidence to invest in the association’s member states rather than other countries.
Addressing the tricky topic at his lecture in a Chinese’s university, David Cameron said ‘I am convinced that the best guarantor of prosperity and stability is for economic and political progress to go in step together.’. This approach is key to the Commonwealth future success, I have always argued that the Commonwealth should give an equal focus to both the Harare Principles, on good governance and human rights and to the Edinborough Economic Declaration. This is proven by many Commonwealth members, who are required to abide by certain rules regarding governance, human rights and the rule of law, or face expulsion from the association. It is no coincidence that the same countries are nearly always investment destinations of choice.
Making this point very clearly, President Obama in his address to the Joint Session of the Indian Parliament during his recent trip said "As India marks 60 years with a strong and democratic constitution, the lesson is clear: India has succeeded, not in spite of democracy; India has succeeded because of democracy,"
Britain, India and other Commonwealth countries can help in the development of other countries by explaining how their focus on good governance has led to increased investment and increased prosperity. Commonwealth successes, are based on a respect for the rule of law, human rights, etc as it is these things that give investors the confidence to invest in the association’s member states rather than other countries.
Friday, 29 October 2010
The future of the Commonwealth
Over the last couple of weeks I have had discussions with both the Chair in Office of the Commonwealth, the Rt Hon Kamla Persad-Bissessar, Prime Minister, Trinidad and Tobago, and the Commonwealth Eminent Persons Group on the future direction the Commonwealth should take.
The EPG was set up by the Heads of Government in Trinidad and Tobago at CHOGM last November to discuss the future of the Commonwealth and sharpen the impact, strengthen the networks, and raise the profile of the Commonwealth. I believe that both the roles of the Chair in Office and the Secretary General should be expanded to enhance coordination between the Commonwealth’s Key Agencies.
Also I feel the Commonwealth should take greater advantage of the excellent work it’s done on good governance and human rights since its founding, and now think about how to convert those successes into economic prosperity. By giving equal attention to the Harare Principles on good governance and the Edinburgh Economic Declaration, the Commonwealth can do more to highlight the link between good governance and increased investment. We feel that this link can be further strengthened by the creation of a commonwealth development fund that would invest in countries that show the best progress in good governance.
This new approach could make the Commonwealth truly relevant for tomorrow, as it will allow the association to directly focus on the areas of greatest importance to all heads of Government (developed or developing); jobs and growth, while still maintain the Commonwealth’s historic focus on good governance and human rights.
The EPG was set up by the Heads of Government in Trinidad and Tobago at CHOGM last November to discuss the future of the Commonwealth and sharpen the impact, strengthen the networks, and raise the profile of the Commonwealth. I believe that both the roles of the Chair in Office and the Secretary General should be expanded to enhance coordination between the Commonwealth’s Key Agencies.
Also I feel the Commonwealth should take greater advantage of the excellent work it’s done on good governance and human rights since its founding, and now think about how to convert those successes into economic prosperity. By giving equal attention to the Harare Principles on good governance and the Edinburgh Economic Declaration, the Commonwealth can do more to highlight the link between good governance and increased investment. We feel that this link can be further strengthened by the creation of a commonwealth development fund that would invest in countries that show the best progress in good governance.
This new approach could make the Commonwealth truly relevant for tomorrow, as it will allow the association to directly focus on the areas of greatest importance to all heads of Government (developed or developing); jobs and growth, while still maintain the Commonwealth’s historic focus on good governance and human rights.
Thursday, 14 January 2010
Commonwealth Games and Business
Later this year Delhi will host the 19th Commonwealth Games, as with all large expensive international events it is the long term effects and impact that there success is now measured on. Business Involvement at the Games will be essential to ensuring the Games have a lasting impact on the City, and was one of the most important reasons for the city agreeing to host. As we saw recently in Trinidad and Tobago at CHOGM the private sector presence can contribute the most to the host country, the new partnerships and relationships that started there ensure that the organising country’s investment pays off over the coming years.
Sporting Events are no different - the world cup in south Africa, for example, is expected to pump around R21.3-billion into South Africa's economy and create an estimated 159 000 new jobs. CBC will be working with CII to ensure that the Private Sector from across the Commonwealth is represented at the Games and that the Business dimension of the games is Strong.
Sporting Events are no different - the world cup in south Africa, for example, is expected to pump around R21.3-billion into South Africa's economy and create an estimated 159 000 new jobs. CBC will be working with CII to ensure that the Private Sector from across the Commonwealth is represented at the Games and that the Business dimension of the games is Strong.
Monday, 30 November 2009
The Commonwealth at 60 and the Commonwealth Factor
The role and significance of the Commonwealth is a perennial topic alongside every Heads’ meeting. As CEO of the Commonwealth’s business association, which links hundreds of vibrant companies across the 53 countries I find that the Commonwealth is often both undervalued and underappreciated. My concern is not that the association will wither into obscurity, but we need to always need to keep the association relevant for today. What is its greatest strength?
The Commonwealth’s unique selling point or usp is not in its institutions but in its networks, values and the more elusive, but potent, ‘Commonwealth Factor’. This derives from of a common historical experience reflected in the similar administrative, legal, financial and business practices that members share, as well as the use of the English language. The Commonwealth Factor when leveraged, as CBC does to promote trade and investment, with Commonwealth values of multi party democracy, human rights, the rule of law, good governance, free press, and socially responsible market orientated policies, is when real results are seen.
The Commonwealth Secretariat, the inter-governmental organisation of the Commonwealth, can’t be a leading development organisation, its budget is too small, a fraction of the larger NGOs. However, in my 25 years of experience with the Commonwealth it has been through more assessments than the UN and many other international organisations, all of which are very many times larger than the Secretariat. Unfortunately the Secretariat is undervalued, underfunded and over-assessed, and nothing much will be achieved by yet another assessment exercise.
Nurturing, leveraging and promoting the ideals and the values at the core of the Commonwealth, is the key to CBC’s success and has lead to greater investment opportunities in Commonwealth countries. Commonwealth member states are increasingly being seen as ideal locations for doing business, thanks in a large part to this ‘Commonwealth factor’. Intra-Commonwealth trade has increased from $2 trillion to $3 Trillion over the last 10 years, Investment flows have reached over US$180 billion and Commonwealth trade and investment accounts for over 20 per cent of the world total. The Commonwealth Factor, we believe, can decrease the cost of doing business by anything up to 15%. The Commonwealth is the home to some of the most dynamic and successful new global companies in fields critical to development – ICT, technology and energy, finance, and agriculture. Increasingly the modern Commonwealth is defined by the emerging economies – for example India, Nigeria, South Africa, Malaysia, Trinidad and Tobago – these are new economic centres of excellence growing in importance alongside the UK, Australia and Canada. The association is certainly not lacking in innovation and success.
Another aspect of the Commonwealth Association which is valued greatly across by member countries is skills development and education. I am disappointed by the NGO’s who are ‘so called’ advocates of the Commonwealth but dwell on the association’s past and are not looking to its future. The Commonwealth could obviously use greater resources, but of even greater import is sustained commitment to and recognition of the Commonwealth factor and networks, that can be leveraged to enhance the lives of so many across the association.
The future of the Commonwealth must focus on enhancing the characteristics I have mentioned, its values and networks so that more and more of Commonwealth Citizens can take advantage of their shared heritage.
The Commonwealth’s unique selling point or usp is not in its institutions but in its networks, values and the more elusive, but potent, ‘Commonwealth Factor’. This derives from of a common historical experience reflected in the similar administrative, legal, financial and business practices that members share, as well as the use of the English language. The Commonwealth Factor when leveraged, as CBC does to promote trade and investment, with Commonwealth values of multi party democracy, human rights, the rule of law, good governance, free press, and socially responsible market orientated policies, is when real results are seen.
The Commonwealth Secretariat, the inter-governmental organisation of the Commonwealth, can’t be a leading development organisation, its budget is too small, a fraction of the larger NGOs. However, in my 25 years of experience with the Commonwealth it has been through more assessments than the UN and many other international organisations, all of which are very many times larger than the Secretariat. Unfortunately the Secretariat is undervalued, underfunded and over-assessed, and nothing much will be achieved by yet another assessment exercise.
Nurturing, leveraging and promoting the ideals and the values at the core of the Commonwealth, is the key to CBC’s success and has lead to greater investment opportunities in Commonwealth countries. Commonwealth member states are increasingly being seen as ideal locations for doing business, thanks in a large part to this ‘Commonwealth factor’. Intra-Commonwealth trade has increased from $2 trillion to $3 Trillion over the last 10 years, Investment flows have reached over US$180 billion and Commonwealth trade and investment accounts for over 20 per cent of the world total. The Commonwealth Factor, we believe, can decrease the cost of doing business by anything up to 15%. The Commonwealth is the home to some of the most dynamic and successful new global companies in fields critical to development – ICT, technology and energy, finance, and agriculture. Increasingly the modern Commonwealth is defined by the emerging economies – for example India, Nigeria, South Africa, Malaysia, Trinidad and Tobago – these are new economic centres of excellence growing in importance alongside the UK, Australia and Canada. The association is certainly not lacking in innovation and success.
Another aspect of the Commonwealth Association which is valued greatly across by member countries is skills development and education. I am disappointed by the NGO’s who are ‘so called’ advocates of the Commonwealth but dwell on the association’s past and are not looking to its future. The Commonwealth could obviously use greater resources, but of even greater import is sustained commitment to and recognition of the Commonwealth factor and networks, that can be leveraged to enhance the lives of so many across the association.
The future of the Commonwealth must focus on enhancing the characteristics I have mentioned, its values and networks so that more and more of Commonwealth Citizens can take advantage of their shared heritage.
Thursday, 3 September 2009
Should History Limit the Commonwealth?
Members of the Commonwealth are predominantly linked by their history with the British Empire, but should this be the limit of the Commonwealth? Should other countries that sign up to the association's beliefs be welcomed into the club?
The Commonwealth’s focus on multi party democracy, human rights, the rule of law, good governance, free press, and socially responsible market orientated policies give it a strong legitimacy in today’s world and allows for the association to become an even stronger force for good.
The shared use of the English language is one of the Commonwealths strongest features. Alongside similar administrative, legal and financial practices it makes doing business in the commonwealth easy. The Shared language makes for the easy and equitable transfer of knowledge around the associations nations.
I see no reason why the Commonwealth should not expand to encompass all nations that share similar views and follow similar practices. Perhaps commonwealth expansion should be one of the topics in the Royal Commonwealth Societies ‘Commonwealth Conversation’ after all a bigger commonwealth would be good for business.
The Commonwealth’s focus on multi party democracy, human rights, the rule of law, good governance, free press, and socially responsible market orientated policies give it a strong legitimacy in today’s world and allows for the association to become an even stronger force for good.
The shared use of the English language is one of the Commonwealths strongest features. Alongside similar administrative, legal and financial practices it makes doing business in the commonwealth easy. The Shared language makes for the easy and equitable transfer of knowledge around the associations nations.
I see no reason why the Commonwealth should not expand to encompass all nations that share similar views and follow similar practices. Perhaps commonwealth expansion should be one of the topics in the Royal Commonwealth Societies ‘Commonwealth Conversation’ after all a bigger commonwealth would be good for business.
Wednesday, 5 August 2009
Commonwealth Conversation and the Commonwealth Factor
I was very pleased to note that the Foreign Secretary the Rt Hon David Miliband has initiated the dialogue on the future role of the Commonwealth, in this 60th year of operation.
Those of us who work in the Commonwealth recognise its importance, but are disappointed by the lack of recognition the association receives. The Commonwealth is underutilized and I hope this ‘commonwealth conversation’ can help to remedy this.
I was delighted to see that the CBC was identified as one of the key organisations within the commonwealth family alongside the Secretariat and the Commonwealth Foundation, in the Foreign Secretary’s paper ‘Two Billion Voices’.
I believe that member countries benefit most from the commonwealth when they leverage the ‘commonwealth factor’, such as similar administrative, legal, financial and business practices to help enhance trade and investment in their countries. These shared features make trade easy and cheap, and CBC is delighted to have made some small contribution to the increase in Commonwealth Trade from 2 trillion to 3 trillion dollars since its inception in 1997.
The Commonwealth can become an even stronger force for good, promoting, multi party democracy, human rights, the rule of law, good governance and socially responsible market orientated economic policies. Another key factor that binds the commonwealth is the use of the English language, which is a key asset for the economic development of member countries.
Countries that subscribe to these beliefs should be welcomed into the Commonwealth Club and join in its success.
Those of us who work in the Commonwealth recognise its importance, but are disappointed by the lack of recognition the association receives. The Commonwealth is underutilized and I hope this ‘commonwealth conversation’ can help to remedy this.
I was delighted to see that the CBC was identified as one of the key organisations within the commonwealth family alongside the Secretariat and the Commonwealth Foundation, in the Foreign Secretary’s paper ‘Two Billion Voices’.
I believe that member countries benefit most from the commonwealth when they leverage the ‘commonwealth factor’, such as similar administrative, legal, financial and business practices to help enhance trade and investment in their countries. These shared features make trade easy and cheap, and CBC is delighted to have made some small contribution to the increase in Commonwealth Trade from 2 trillion to 3 trillion dollars since its inception in 1997.
The Commonwealth can become an even stronger force for good, promoting, multi party democracy, human rights, the rule of law, good governance and socially responsible market orientated economic policies. Another key factor that binds the commonwealth is the use of the English language, which is a key asset for the economic development of member countries.
Countries that subscribe to these beliefs should be welcomed into the Commonwealth Club and join in its success.
Monday, 8 December 2008
The menace of terrorism will block South Asia’s efforts to alleviate poverty and generate economic growth
The incident in Mumbai is bad not only for India, but for the entire region. It should be condemned by all people in South Asia and they should be united in their resolve to ensure it doesn't happen again in the region. Half of the world's poor live in South Asia and such incidents will keep the region in poverty and hold back efforts to achieve economic growth and poverty alleviation.
The Commonwealth Business Council has been working with business and governments and SAARC to enhance trade and investment linkages in the region to underpin wider economic growth. After the events in Mumbai, international businesses are more committed than ever to enhance the partnership with South Asian business. I hope that the leaders and people of South Asia will be even more determined to fight the menace of terrorism for the sake of economic development in the region.
The Commonwealth Business Council has been working with business and governments and SAARC to enhance trade and investment linkages in the region to underpin wider economic growth. After the events in Mumbai, international businesses are more committed than ever to enhance the partnership with South Asian business. I hope that the leaders and people of South Asia will be even more determined to fight the menace of terrorism for the sake of economic development in the region.
Wednesday, 3 December 2008
India must take immediate and large-scale action to prevent repeats of last week's attacks
My thoughts are with the families of those caught up in the terrible attacks in Mumbai last week.
India cannot ignore this incident; fear of repeats may drive business from India. Both World and Local business expects a clear response from the Indian Government and large scale steps to improve security and administration in order to minimise the chance of a similar attacks occur again.
I welcome the appointment of Palaniappan Chidambaram to the role of Home Minister, he has proven himself facing the challenges in the finance portfolio, and must now make tackling security and terrorism his number one priority. Retaining the confidence of the international business community is essential, more action must be taken, and more heads must role in both Mumbai and Delhi. India must now take immediate and strong action, in the manner of the US and UK following similar incidents, small steps will not inspire confidence. India must act like a world economic power to give confidence to businesses already in the country and to those on their way.
I am a regular visitor to India and have stayed in the Taj and Oberoi Hotels many times, last year I was in the Taj with over 100 business leaders and am determined to return with even more.
India cannot ignore this incident; fear of repeats may drive business from India. Both World and Local business expects a clear response from the Indian Government and large scale steps to improve security and administration in order to minimise the chance of a similar attacks occur again.
I welcome the appointment of Palaniappan Chidambaram to the role of Home Minister, he has proven himself facing the challenges in the finance portfolio, and must now make tackling security and terrorism his number one priority. Retaining the confidence of the international business community is essential, more action must be taken, and more heads must role in both Mumbai and Delhi. India must now take immediate and strong action, in the manner of the US and UK following similar incidents, small steps will not inspire confidence. India must act like a world economic power to give confidence to businesses already in the country and to those on their way.
I am a regular visitor to India and have stayed in the Taj and Oberoi Hotels many times, last year I was in the Taj with over 100 business leaders and am determined to return with even more.
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