Commonwealth bank governors, finance ministers discuss challenges

Hajia Sani

Finance ministers and central bank governors from across the Commonwealth, will meet on Wednesday to debate key issues such as Brexit,trade and climate financing.

The two-day meeting in Washington on Wednesday and Thursday will also be attended by the Commonwealth Secretary-General, Patricia Scotland.

Last year, a Commonwealth Secretariat flagship trade report showed how historical ties, long established trading relations, similarities in legal structures and a common language makes trading between Commonwealth countries, 19 per cent cheaper than with other countries.

But the Secretary-General stressed that political will was needed on all sides to take advantage of these opportunities.

Trade and economic experts are also examining the likely impact of Brexit.

New research to be published next week will examine the risks that can result from Brexit and the role the Commonwealth can play to make the most of the opportunities if countries have the right support.