We offer practical support to address debt and participate in innovative financing initiatives, to protect remittance flows, and for more inclusive and effective international tax co-operation. The Commonwealth is working with governments, international development partners, grassroots organisations and civil society to help both developing and developed countries enjoy economic growth and stability.
Many of our members are small and vulnerable and face challenges to finance basic public services, are burdened with high debt and have had limited success in securing the benefits of global trade. Traditional sources of finance for these countries — such as taxation and development assistance — while critically important, are insufficient to meet these challenges. The Commonwealth helps its member governments to equitably and sustainably manage their human, natural and economic capital, to bolster national resilience to economic and social crises, and to improve prosperity for all citizens.
A new state-of-art Commonwealth debt management system will help countries to proactively manage their public debt portfolio, according to Secretary-General Patricia Scotland. Site search. Creating better trade opportunities The Commonwealth supports member countries to improve their export competitiveness and diversify exports.
In terms of global peace, several Commonwealth countries are among the top contributors to the United Nations' efforts around the world. This global family has 30 republics, 5 countries have their own national monarchs, and all of them accept the Queen of England as the symbol of their free association and as the head of the Commonwealth.
The Queen of England is also the head of 15 Commonwealth countries. This global family is also growing, for Cameroon has applied for membership. Approval of its application is likely at the next Commonwealth Heads-of-Government meeting scheduled to be held from the 10 th - 13th of November , in Auckland, New Zealand, provided 'that its current efforts to establish a democratic System, in keeping with the Harare Commonwealth declaration would have been completed' 8. There are several observer countries including Mozambique, that may or may not eventually apply for membership.
But in , the Commonwealth will loose a member as Hong Kong and its 5. He was wrong. Simply put, Britain did indeed find itself a global role for the new Commonwealth was about to be born, and the vestiges of imperial relations were not to be completely rejected, but rather downplayed. Every year, the Queen of England distributes royal and imperial awards, knighthood's and peers to chosen citizens of the Commonwealth.
The Privy Council in London is the highest court of appeal for most members of the Commonwealth and some leading Commonwealth judges have the distinct privilege of being invited to serve in the council. Certain sports like cricket and rounders are played mainly in the Commonwealth, and as opposed to the British Empire Games, the Commonwealth games is held every four years the 26th Commonwealth Games will be held in There is an annual official Commonwealth day which is celebrated in each Commonwealth country and the Queen usually broadcasts a special message to the Commonwealth.
Sea of Voices
In addition, the Queen and other members of the royal family travel extensively throughout the Commonwealth. The British Foreign Ministry is known as the Foreign and Commonwealth office, and diplomatic representatives exchanged by Commonwealth countries are called High Commissioners and are equal in status to Ambassadors. If we describe the solar System as the ring around the sun, then the Commonwealth is the ring around the globe. From the antarctic territories of Australia and Britain the British one is uninhabited to Canada, from the shores of the Pacific to the Caribbean, including India and across Africa, the people of the Commonwealth constitute more the one quarter of the world's population, and cover one quarter of the world's surface.
At one time, Egypt, Sudan, Somalia, Aden, The Gulf States, Iraq, Jordan, Palestine and Burma were all members of the Commonwealth which is unrivalled and the only existing structure of this magnitude and kind in the world. See Figure 1. Commonwealth members are located on every continent and also belong to most major economic blocs and regional pacts. In terms of education, half of the overseas students population of Britain's universities are from Commonwealth countries and ex-dependencies of Britain, despite the very expensive tuition fees which they are required to pay There are also mutual agreements between Commonwealth universities which seek to promote the educational and scientific development of the Commonwealth citizens.
What a sizeable market!
Commonwealth of Independent States - Ministry of Foreign Affairs of the Republic of Belarus
But that's not all. Economic globalization is not just about dominance of markets, it is also about creating and developing global potential, global tastes and global demands and the more developed members of the Commonwealth can do so fairly easily within the association. When considering worldwide economic development and the fast growing economies, several Commonwealth members top the list.
The Commonwealth has its own teams of specialists for political, economic and legal affairs, human resources development and technical assistance. It provides expertise and the transmission of skills, advice and training to member countries in need. Main areas of development for the Commonwealth include international and economic affairs, trade policies for developing member countries, export market development, rural and industrial development, financial affairs, inter-governmental co-operation, education, science and technology.
Nearly three quarters of all the CDC's investments are in Commonwealth and are generally targeted to renewable natural resources agriculture, forestry and fisheries and basic infrastructure power, water, telecommunications, housing and transport. Britain's overseas investments in the Commonwealth range from being wholly owned, majority or minority-owned to the unknown and is centred on the manufacturing, low-technology and services sectors; Chemicals, electrical, mechanical and instrument engineering, motor vehicles, rubber, food, drink and tobacco, metal manufacture, textiles, clothing and footwear, paper, printing and publishing, building materials, alcohol, and hotels.
Trade statistics for the period - 67, the glory years of the Commonwealth and before Britain's membership of the EU, show that Britain's exports to and imports from the Commonwealth:. Britain also provides interest free loans which are repayable over four to five years to member countries, many of which naturally have debt problems. Britain urges them to adopt very prudent economic policies and has offered them debt relief in many ways including writing off some of their debts. Commonwealth governments have at their disposition, upon request, experts in just about all domains, e.
It runs a Technical Assistance Division, an Industrial Development Unit, and an Export Market Development Division which promotes the exports of commodities and manufactures through market surveys, trade fairs and missions. Member countries are also offered assistance with product modification, design, packaging and standards, and trade negotiations In , it inaugurated one of the world's largest submarine telephone cables which runs over 15, km between Australia, Norfolk Island, New Zealand, Fiji, Hawaii and Canada Its name has changed with the times.
Its role and importance are being questioned and have been weakened by the evolution of the global economic environment. Trade today is by strategic co-operation, alliances and co-optation Ohmae, Although economically challenged by economic and trading conditions imposed on Britain because of its membership of the EU and which are defeating to the Commonwealth countries, the Commonwealth still holds its ground.
Britain is caught in a spaghetti junction, a maze of international cross roads. Nations are protecting their economies more and more.
Bilateral and Multilateral Co-operation
The Commonwealth is not an economically powerful affiliation and its members stand to loose more by being outside the association than within it. They have access to and are standing on the launching-pad and spring-board to Europe, they are demonstrating their willingness to jump and are jumping. While some former colonies have been unable to capitalise on their old ties others have. Lynn 21 chose to highlight some of the jumps and achievements made in recent times by some individuals and firms of Commonwealth member countries using Britain as their bridgehead:.
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Maybe, Britain has not done too bad for itself. Its former children are helping their mother out in times of need. Alternatively, some may see the current situation as "the Empire strikes back"!! Chambers Concise Dictionary, Edinburgh: Chambers, Dunning , John H. Livingstone , J. Stopford , John M. Livingstone, Britain and the World Economy, Pelican, , p. You can suggest to your library or institution to subscribe to the program OpenEdition Freemium for books. Feel free to give our address: contact openedition. We will be glad to provide it with information about OpenEdition and its subscription offers.
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