‘Support for Commonwealth Trade’ (S4CT) campaign reception at the House of Commons

Campaign will focus on ways to encourage and enable trade with the Commonwealth

12^th July, 2016: The ‘Support for Commonwealth Trade’ campaign (S4CT) is hosting a reception today at the House of Commons. The campaign, which is cross-party and supported by both Leave and Remain camps, recognises the fact that the UK should proactively and rapidly take measures to expand its trade with the 52 other nations which are also members of the Commonwealth. The S4CT campaign will focus on the practical steps which can be taken to increase trade between the UK and the Commonwealth, and among all Commonwealth member nations.

The Commonwealth has 53 independent nation members which span the globe, including both advanced economies and developing countries. It provides huge opportunities as a revitalised global trading network with a common history of language, legal frameworks and ways of working. It has a combined population of 2.2 billion, of which more than 60 per cent is aged 29 or under. The Commonwealth encompasses Africa (18 countries), Asia (8), the Caribbean and Americas (13), Europe (3), and the Pacific (11).

The S4CT campaign includes 3 trade-boosting initiatives which can begin immediately:

• The creation of a Commonwealth Free Trade Zone (CFTZ) to remove trade barriers and provide an alternative to the EU Single Market
• The wider adoption of e-commerce within the Commonwealth so that more business is done online, enabling nations and businesses of all sizes to trade more easily
• An investigation into the role of UK free trade ports in enabling Commonwealth trade and how these could revitalise the UK regions

Prior to the UK joining the European Economic Community in 1973, The Commonwealth countries had provided the UK’s largest trading bloc. At the Commonwealth’s inception in the late 1940s both import and export levels between the UK and The Commonwealth were close to 40% of the UK’s total trade volume. By 1973 both imports and exports with the Commonwealth were down to around 18%. This century these have fallen to between 8 and 10% of the total, offering a real opportunity for growth if a concerted effort is made.

For more information on the S4CT campaign visit: www.s4ct.org

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