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Zambia is among 15 countries selected to participate in the pilot phase of a Commonwealth Trade Portal aimed at expanding trade and investment opportunities for businesses across member states.
The Commonwealth officially launched the digital platform during a side event at the Commonwealth Business Forum, held on the margins of the 28th Commonwealth Heads of Government Meeting in Antigua and Barbuda.
The initiative underscores the Commonwealth’s commitment to strengthening economic cooperation, expanding intra-Commonwealth trade and creating greater opportunities for businesses, particularly micro, small and medium-sized enterprises (MSMEs).
The platform is designed to provide businesses with access to information on products, markets, trade requirements and investment opportunities across Commonwealth countries.
Commonwealth Secretary-General, Shirley Botchwey, said increasing intra-Commonwealth trade was an important means of diversifying trading relationships and reducing dependence on traditional markets.
“The platform will enable enterprises to identify potential buyers and suppliers, explore new markets and better understand the requirements for trading within the Commonwealth,” Botchwey said.
She said intra-Commonwealth trade was currently valued at approximately US$900 billion annually and was targeted to reach US$2 trillion by the next Commonwealth Heads of Government Meeting.
Botchwey said the Trade Portal was expected to contribute to this ambition by addressing information gaps and reducing barriers that prevent businesses, particularly smaller enterprises, from accessing opportunities in other Commonwealth markets.
“The launch of the portal is welcomed and reforms to the multilateral trading system are called for, including the World Trade Organisation’s dispute settlement system, as well as the reduction of unnecessary non-tariff barriers among Commonwealth countries,” she said.
Botchwey said Zambia’s participation in the pilot phase came at an opportune time as the Government advanced the Grow Zambia Agenda, which sought to accelerate inclusive and sustainable economic growth through increased production, industrial development, export expansion, investment and job creation.
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She said the platform provided an additional opportunity to advance these priorities by connecting Zambian producers, entrepreneurs and exporters with potential international customers, investors and strategic business partners.
“Its focus on MSMEs is particularly significant, given the important role these enterprises play in employment creation, innovation and economic development,” Botchwey stated.
She said the initiative presented opportunities for youth-led enterprises, women-owned businesses and emerging entrepreneurs in Zambia to expand beyond the domestic market, increase sales and contribute to national economic growth.
Botchwey said the platform could also support Zambia’s export diversification and value addition ambitions by enabling businesses in sectors such as agriculture, agro-processing and manufacturing to explore new markets and develop cross-border commercial partnerships.
She said the success of Zambia’s participation would ultimately be measured by the extent to which local businesses translated access to the platform into increased exports, sustainable commercial partnerships, investment and employment opportunities.
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