Commonwealth Trade And The New Head
Commonwealth Trade And The New Head: Queen Elizabeth II hosted dinner for Commonwealth officials at Buckingham Palace and talked over how to best boost Brexit Britain’s trading future. World leaders came together for the Heads of Government Meeting in London this week focusing their talks on the future of the 53 Commonwealth members and the development of global Britain. At the Commonwealth Heads of Government Meeting in London, Prince Charles was chosen to take over as Head of the Commonwealth when Queen Elizabeth II steps down.
Commonwealth leaders agreed this Friday that Prince Charles should follow his mother Queen Elizabeth II as the next head of the group. “The next Head of the Commonwealth shall be His Royal Highness Prince Charles,” the 53 member countries said in a statement. Queen Elizabeth who is now 92 and she pledged to serve the Commonwealth for life when aged 21.
From the muggy and protective trade measures of EU membership UK has the chance to strengthen Commonwealth bonds. To “maximize global trade” the UK must repair the damage following years of EU allegiance and “insufficient attention” given to the trade potential of the Commonwealth. UK has immense capabilities in trade and technology to share and maintains a strong interest to apply its resources to building new markets to trade with.
Developing trade with more countries requires a lot more focus on the different markets and what is needed to improve their national economies. Common wealth is a free association making up slightly more than 30% of the world’s population, from every major continent and world religion. UK has largely focused on building EU markets and is having to learn a lot quickly about doing business with the 93% of the world that does not live in Europe.
UK economy will be sophisticated and rich exploiting the digital economy to maximize global trade. The UK-led digitalization of trade,
- will reduce trade costs
- improve access to market for many Commonwealth countries
- Increase the UK’s trade opportunities to fast growing market
And after years of neglect from Labor party, Conservative and Coalition governments, it is certainly in the hands of the Queen and her successor Prince Charles to keep the door open for the Commonwealth members and make the trade body strong.
UK wants to lay the groundwork for new trade deals with Commonwealth nations after Britain leaves the European Union next year.
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