Trading on Commonwealth Ties
A Review of the Structure of Commonwealth Trade and the Scope for Developing Linkages and Trade in the Commonwealth
What are the characteristics of current intra-Commonwealth trade, and how can it be encouraged to grow?
Trading on Commonwealth Ties identifies opportunities for stimulating trade within the Commonwealth, but warns against setting up a free trade agreement across the member states. Chris Milner argues that while the idea of trying to build a Commonwealth free trade agreement may hold enormous appeal, it is fraught with legal, administrative and political difficulties. He identifies improving trade infrastructure – particularly roads, railways and port facilities – as a key means of lowering trading costs and boosting trade both within the Commonwealth and with non-Commonwealth countries.
Intra-Commonwealth trade currently generates about US$225 billion a year in export trade for member countries, which is equivalent to about 16 per cent of Commonwealth countries’ total exports. This is a substantial volume of trading activity, but overall the bulk of Commonwealth countries’ trade is with countries outside the Commonwealth. Nonetheless, for some countries, like Botswana, Namibia, Papua New Guinea and Samoa, intra-Commonwealth trade remains significant as it represents in excess of 70 per cent of their international trade.
This book will be of interest to economic planners, researchers and policy-makers in all Commonwealth countries.
Contents
Acronyms and abbreviations
Summary
1. Introduction
1.1 Context
1.2 Objectives of the Study
1.3 Outline of the Report
2. Analysis of Intra-Commonwealth Trade Flows
2.1 Introduction
2.2 Volume and Direction of Commonwealth Countries’ Trade
2.3 Evolution of Intra-Commonwealth Trade
2.4 Composition of Trade
2.5 Summary Conclusions
3. Trade Policy Relations within the Commonwealth
3.1 Introduction
3.2 The WTO and Multilateral Commitments
3.3 Regional Trade Groupings
3.4 Non-Reciprocal Preferential Schemes
3.5 Other Bilateral and Preferential Arrangements
3.6 Summary Conclusions
4. Barriers to Intra-Commonwealth Trade
4.1 Introduction
4.2 Market Access Conditions
4.3 Domestic Policy Barriers to Exporting
4.4 Other Domestic Barriers to Exporting
4.5 Other International Barriers to Exporting
4.6 Summary Conclusions
5. Trade Potential among Commonwealth Members
5.1 Introduction
5.2 The Modelling Approach
5.3 Comparison of Actual and Potential Trade
5.4 Summary Conclusions
6. Policy Options and Recommendations for Promoting Intra-Commonwealth Trade
6.1 Introduction
6.2 Extending Preferential Trade Policies in the Commonwealth
6.3 Trade Facilitation within the Commonwealth
6.4 The Commonwealth and Trade Policy Capacity Building
6.5 Summary Conclusions
7. Summary Conclusions
References
Appendices
About the contributor
Chris Milner (Author)
Chris Milner is Professor of International Economics and Head of the School of Economics, University of Nottingham, and Research Fellow in the Leverhulme Centre for Research in Globalisation and Economic Policy (GEP)Browse subjects
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