Picture by Simon Dawson / No. 10 Downing Street 
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UK’s Commonwealth investment to back hub for female-led businesses in India

iGlobal Desk

At the conclusion of the Commonwealth Heads of Government Meeting (CHOGM) in Samoa, the UK laid out a package of measures designed to boost intra-Commonwealth trade and investment, including a hub in India to support female-led businesses.

According to the Foreign, Commonwealth and Development Office (FCDO), the measures are designed to increase "shared prosperity" for the 56-member organisation made up of some of the world's fastest growing economies, including India as its largest member.

“UK announcements included funding for a Commonwealth Investment Network to encourage greater investment within small and climate-vulnerable Commonwealth countries, and support to establish hubs in India and Sri Lanka to support female-led businesses,” the FCDO said.

The UK has also indicated plans to increase its military and economic presence in the Indo-Pacific to support regional stability, including proposals for increased Royal Navy patrols to boost maritime security, combat illegal fishing and respond to the natural disasters in the region.

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“My visit to the Pacific this week has only reinforced how important this part of the world is to the United Kingdom’s prosperity and security, and I know across business, trade and defence we play a vital role in supporting the region too,” UK Prime Minister Keir Starmer said in a statement.

“As responsible international players, we cannot turn a blind eye to the challenges faced by our friends and partners on the other side of the world, so my message today is clear: this is just the beginning of our commitment to the Indo-Pacific,” he said.

Starmer and Foreign Secretary David Lammy attended the summit in Samoa last week with measures designed to:

·       boost intra-Commonwealth trade and investment and increase shared prosperity

·       empower young people with access to education and skills

·       support democratic governance, human rights and the rule of law

·       help protect vulnerable countries from the impacts of climate change

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With a focus on empowering young people with access to education and skills, supporting democratic governance, human rights and the rule of law and helping protect vulnerable countries from the impacts of climate change, the UK’s package of measures also includes additional funding for technical support from trade advisers to help small and vulnerable Commonwealth member states negotiate within the World Trade Organisation (WTO).

A joint communique issued by Commonwealth leaders at the end of the summit it was agreed that the "time has come" for a conversation about reparations for the slave trade and holding “inclusive conversations” to address the wrongs of the past. 

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