Economic development

The Commonwealth works with governments, international development partners and local people to help developed and developing member countries enjoy economic growth and stability.

Many Commonwealth countries are small, vulnerable states which are disproportionately impacted by global economic shocks. They are also more prone to natural disasters which can set back their development.

Small states often recover slowly from setbacks, especially if they have a lot of debt. Many small states’ economies are driven by a small number of industries and they do not have a lot of ways to diversify.

Traditional sources of money for these countries include taxes, and development aid from other countries. But although these are critically important, they are not enough to meet the challenges these countries face.

The Commonwealth helps its member governments to fairly and sustainably manage their resources including people, natural resources and money. We help them build resilience to economic and environmental crises, and to improve prosperity for all citizens.

Supporting small states

The Commonwealth supports vulnerable small states through a range of initiatives. We advocate on their behalf to help them access funding to meet their development goals. We help them identify where they are most vulnerable, and come up with options to address their problems.

Small states

Creating better trade opportunities

The Commonwealth helps member countries improve their export competitiveness, diversify their exports and secure better trade deals.

Creating better trade opportunities

Public debt management

The Commonwealth helps member countries manage their national debts by offering expert advice and training, and by developing debt management software packages.

Public debt management

Connectivity Agenda

The Commonwealth Connectivity Agenda is a flagship project which aims to increase trade between Commonwealth countries.

Connectivity Agenda

Oceans and natural resources

The Commonwealth helps countries manage their natural resources like oil, gas and other minerals in ways which benefit their economies while still protecting the environment.

Oceans and natural resources

International trade policy

We bring countries together to discuss and better understand new global trade issues. This helps Commonwealth countries be more prepared for bilateral, regional and multilateral trade negotiations.

Commonwealth meetings

To steer the Commonweath’s work, the Commonwealth brings member countries together every year in 2 major meetings:

• Commonwealth Finance Ministers Meeting (CFMM)
• Commonwealth Central Bank Governors Meeting (CCBG)
• Commonwealth Trade Ministers’ Meeting

These meetings are opportunities for Commonwealth ministers to discuss common development challenges.

Past meetings have focused on a range of issues including debt sustainability, disaster risk finance, financial technology, and financial literacy.