FG backs Commonwealth initiative to expand trade ties

Barbara Bako, Abuja.

The Federal Government has thrown its weight behind a renewed Commonwealth initiative aimed at strengthening trade ties and boosting economic resilience across member countries.

Minister of State for Finance, Dr. Doris Uzoka-Anite, joined her counterparts from other Commonwealth nations at a high-level meeting held on the sidelines of the World Bank and IMF Annual Meetings in Washington D.C.

The discussions focused on strategies to expand trade, enhance infrastructure financing, and promote sustainable development within the 56-member bloc.

According to the Commonwealth Secretariat, intra-Commonwealth trade is on average 21 per cent cheaper and is projected to reach $2 trillion by 2030.

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The ministers underscored the need to leverage this advantage to lift millions out of poverty and strengthen economic cooperation.

Dr. Uzoka-Anite reiterated Nigeria’s commitment to the Commonwealth’s development agenda, emphasizing the importance of increased funding and collective action to drive inclusive growth.

The meeting ended with a shared resolve to harness the bloc’s economic potential and build a more prosperous and resilient future for citizens across member states.