Commonwealth Pvt Sector Targets Green, Digital Recovery

Trade ministers and business leaders from around the Commonwealth will meet virtually on 23 November to examine how they can work together to promote a digitally inclusive and green recovery in the face of the devastating economic impacts associated with Covid-19.   

The Commonwealth Secretariat, in collaboration with the Government of Bangladesh, will host a high-level dialog to launch the Third Commonwealth Connectivity Agenda Cluster Week, reports UNB.

The event will bring together trade ministers from different Commonwealth regions, together with representatives of regional and Commonwealth-wide private sector networks, to share their insights and refined strategies for boosting trade in the rapidly evolving digital economy.

It will also be an opportunity to look at how companies can shift to more resilient and sustainable government-sponsored models for a greener post-Covid future.

Shift towards digital trade

Commonwealth Secretary-General Patricia Scotland said the disruptions triggered by Covid-19 has greatly accelerated the shift towards digital trade, which was already unfolding before the pandemic struck. "We now stand at a pivotal crossroads where entire countries, sectors and companies are at risk of being left behind."

This calls for coordinated action that can help build resilience, while catalysing a digitally-driven economic recovery across the Commonwealth that is both inclusive and sustainable, Patricia said.

"Both the public and private sectors have crucial roles to play, so that we can all emerge faster and more sustainably from the Covid-19 crisis.”

Commerce Minister Tipu Munshi said the Commonwealth of 54 nations has enormous opportunities and unique advantages that are still underutilised.

"If we can bring our businesses and private sector on board in digital trade, it could be instrumental for green, resilient and inclusive recovery. And, this is a high time we do it," he said.

Connectivity Agenda Cluster Week

The high-level dialogue, which is open to the public, is the first of five online events lined up as part of the 3rd Commonwealth Connectivity Agenda Cluster Week.

This series will focus on advancing the Commonwealth Connectivity Agenda on Trade and Investment, a flagship programme launched in 2018 with the aim of boosting trade among member nations to US$ 2 trillion by 2030.

Cluster Webinars Week will concentrate on business-to-business, physical, digital, supply and regulatory connectivity.

Virtually assembled, with several sessions being made public for the first time, these meetings will take stock of progress and discuss measures to restore and strengthen trade during and after the Covid-19 pandemic. 

Sessions are Connecting the Commonwealth Private Sector to Digital and Green Recovery on 23 November, Addressing Digital Divides on 26 November, Building and Enabling Environment to Support Micro, Small & Medium Enterprises on 1 December.

Leveraging Technology for Food Security on 2 December and Enablers for Inclusive Digital Trade on 8 December.