Recruitment for the third cohort of Commonwealth Export Champions opened today as Trade Ministers from the 52 member countries meet at Lancaster House, London. The latest intake of 26 SME cohorts have been selected according to their export growth potential and will participate in a series of trade missions with the next one scheduled for Malaysia and Singapore in May 2017.
CommonwealthFirst is the brainchild of the Commonwealth Enterprise and Investment Council (CWEIC). Its mission is to encourage small and medium enterprises to trade and invest across the Commonwealth. The inaugural round of Export Champions attended the high profile India-UK Tech Summit, Delhi in November which coincided with Theresa May’s first overseas visit as prime minister.
Lord Marland, Chairman of the Commonwealth Enterprise & Investment Council (CWEIC), and the driving body behind CommonwealthFirst said, “The Indian trade mission was a major success. It provided some of the UKs finest small firms with fantastic exposure in one of the world’s fastest growing economies. We are keen to build on this and today’s event provides the ideal setting to further showcase the importance of SMEs as stimulators of sustainable economic growth. At a time when trade is under the spotlight, it is encouraging to see such high-quality export-ready small businesses coming forward to take part in this ambitious programme.”
The Trade Ministers Meeting plans to discuss areas where the Commonwealth can strengthen trade and investment links between member countries and develop a coherent policy agenda ahead of the 2018 Commonwealth Heads of Government Meeting. The Meeting has a particular focus on exploiting the ‘Commonwealth Factor’ whereby average trading costs are estimated to be 19% lower between Commonwealth countries as a result of commonalities around language, cultural ties, shared values and similar legal, institutional and regulatory systems.
SMEs can apply to become a CommonwealthFirst Export Champion via: www.commonwealthfirst.org
Applications close on 5th June and the third cohort will be announced in July 2017.