17 July 2017 #Press
On Thursday 13th July, Michael Sippitt Chairman of the Commonwealth Environmental Investment Platform (CEIP) & Clarkslegal LLP, participated in a panel discussion at the event organised by the Commonwealth Secretariat - 'Wealth Forum: Harnessing the Commonwealth Advantage in International Trade’. The panel looked at the importance of enhancing connectivity across the Commonwealth, which includes the new forms of trading relationships that are arising as a result of profound technological advances.
Commonwealth members already enjoy a trade advantage without any formal collaboration. We tend to trade on average around 20% more compared to other partners and benefit from lower trade costs arising from our commonalities. These results suggest potential for enhanced cooperation to further stimulate the Commonwealth trade advantage in contemporary trade, finance and investment flows. Getting our trade, finance and investment governance structures fit for purpose within the context of 21st century trade – in anticipation of the next production revolution – is a prerequisite to regenerative development.
Michael Sippitt, explained the importance of “Connecting, clustering and collaborating across the Commonwealth to enable economic growth and prosperity" , and particulary focused on the opportunity to develop more collaboration between SMEs across the Commonwealth with common interests, and to help the vital development of the SME sector as a driver of economic growth in all countries.