Fact Sheet: Economic
The Commonwealth has a great record of advancing the economic concerns
of developing countries and small states. It gives them a voice
in world affairs. It is a forum for building bridges between the
poorest and most disadvantaged nations and developed countries and
encourages the implementation of economic good governance.
It was instrumental in the early stages of the HIPC debt initiative.
It broke new ground in its collaborative work with the World Bank
on the special vulnerabilities and needs of small states. It has
spoken out on HIV/AIDS.
The Commonwealth has addressed the issue of globalisation, recognising
the challenges and opportunities it presents. The Commonwealth supports
the commencement of a new trade round with a pronounced developmental
agenda and with the aim of achieving better market access in agriculture,
industrial products and services in a way that provides benefits
to all members, particularly developing countries.
And it has backed up its position with on-the-ground assistance
and technical advice. The Commonwealth is helping its members deal
with globalisation in practical ways - for example by providing
a technical adviser to developing country Ambassadors to the WTO
in Geneva to support them in developing informed and effective negotiating
For further information:
Contact: Terry Walls, Media Information Officer, CHOGM 2002
Mobile: 0419 606 107
Prepared by: CHOGM 2002 Task Force
Department of the Prime Minister and Cabinet