Commonwealth members eye big push to benefit from Brexit

LONDON Patricia Scotland, sec retary-general of the Common wealth, wants to ‘turbo-charge efforts to increase trade advan tages for its 53 member coun tries following Britain’s deci sion to leave the European Union (EU) in the June 23 refer endum.

Giving evidence to the Inter national Relations Committee of the House of Lords, Scotland said Brexit was causing “rea concern” and anxiety in Com monwealth countries which had become used to having a strong voice in the EU through Britain Malta and Cyprus.

In her written statement to the committee, she stressed that a slowdown in the British econ omy and uncertainties in both Britain and the EU will be felt by members who are trade-depend ent or linked to the pound.

However, she told the Lords that she was “hugely positive” about the commercial and eco nomic opportunities within the Commonwealth.

India is a frontline member of the Commonwealth.

“Much more energy, if that’s possible, will go into enriching the Commonwealth relation ship and looking to see how we can strengthen that which we were already doing,” she said.

A major 2015 report of the Commonwealth Secretariat showed that bilateral trade costs between member-coun tries are on average around a fifth lower — or 19% — than between other trading partners