In a major debate in Parliament on the Commonwealth in its 70th Year, East Devon's MP Sir Hugo Swire argued that increasing trade with the Commonwealth could present many benefits for the UK.
Hugo said our economy is increasingly globalised and our trade is ever more dependent on digitisation. Therefore, factors of distance and scale are becoming minimised, particularly when it comes to services and the knowledge economy. Opening ourselves up more to Commonwealth trade means pushing for further modernisation, more investment in technological research and development, and freer trade globally.
You can watch Hugo's speech in the video.
Hugo is the Deputy Chair of the Commonwealth Enterprise Investment Council. It is a not for profit membership organisation with a mandate from Commonwealth Heads of Government to promote intra-Commonwealth trade, investment and the role of the private sector across the 53 member countries. He was formerly Minister of State for Foreign and Commonwealth Affairs between 2012 and 2016, which included responsibility for the Commonwealth.