Commonwealth sees huge trade potential with China

CNC
Added On December 6, 2015

 The 53 Commonwealth members' trade expansion with China has been particularly spectacular, and there remains huge untapped potential.

 
Commonwealth Deputy Secretary-General Deodat Maharaj made the comment in a recent interview with CNC World.
 
The Commonwealth is made up of 53 independent countries with a combined population of 2.2 billion people. The association includes countries in Europe, Africa, Asia, the Pacific and the Caribbean and Americas.
 
Talking about the "Commonwealth Trade Review 2015," a report providing a comprehensive analysis of Commonwealth trade, Maharaj said quote, "We have seen a spectacular rise in the trade between the Commonwealth and China in the last decade."
 
According to the report, since 2000, total Commonwealth exports to China have increased more than fourteen-fold, from 19 billion U.S. dollars to 268 billion U.S. dollars. 
 
Imports from China have risen almost eight-fold, from 46 billion dollars to 359 billion dollars.
 
In terms of possible steps with China, the Deputy Secretary-General said the Commonwealth was keen to build a partnership with China to help build productive trade capacities for its small and vulnerable states.
 
SOUNDBITE: DEODAT MAHARAJ, Commonwealth Deputy Secretary-General
"In terms of possible steps and a partnership with China, I think it's important to point out that in the Commonwealth we have 53 member states, but 31 of those member states are small states. So we are as keen as well to build a partnership with China in terms of helping building capacities of our small and vulnerable states to make sure that they can have a fair chance. And we believe that China can certainly play an important role in that aspect."
  
Referring to the prospective of China's economy, the Deputy Secretary-General said he was confident in the development of the Chinese economy.
 
SOUNDBITE: DEODAT MAHARAJ, Commonwealth Deputy Secretary-General
"I think China will certainly continue to play a very important role in the world economy.I think China as an economy is absolutely critical ensuring that we continue to have global treat increasing. And for us in the Commonwealth we believe that a strong China in terms of economy is very important to the Commonwealth and certainly to the rest of the world.If China is doing well so can the rest of us."
 
The Commonwealth is a voluntary association and is not a trading bloc. It does not possess association-wide policy mechanisms to promote trade.
 
However, Maharaj said the coming year would be offering a breakthrough for the partnership between the Commonwealth and China, during China's presidency of G20.