Commonwealth Business Summit Harnesses Trade Opportunity for 2.7 Billion Market

The Commonwealth Business Summit in Namibia emphasizes harnessing trade for shared prosperity across all member states, focusing on inclusive growth that benefits micro, small, and medium enterprises. The UK government has launched a new decade-long industrial strategy aimed at boosting investment, cutting industrial electricity costs by up to 25% by 2027, and creating over a million jobs, with a focus on advanced manufacturing, clean energy, and competitiveness amid global trade challenges. The UK has also advanced several trade agreements, including a free trade deal with India and progress on a post-Brexit reset with the EU, while exploring potential partnerships like the CPTPP and a possible EU-CPTPP trade bloc, reflecting a cautious but optimistic approach to expanding global trade relations. Together, these initiatives underscore a global push toward strategic trade partnerships and industrial policies designed to foster economic resilience and shared prosperity amid a complex geopolitical and economic landscape.