By CHATULA KANGALI –
SMALL and Medium Entrepreneurs (SMEs) in Zambia are expected to benefit from the Commonwealth Enterprise and Investment Council (CWEIC) trade.
Commonwealth-First programme is a new initiative that has been created to support internationalisation of the Commonwealth’s small and medium sized businesses.
Chief Executive Officer Oliver Everett said during the launch of the programme in London yesterday that the Commonwealth factor of shared language, legal system and business practices would lower the cost of trade between commonwealth countries by 19 per cent.
“With this launch today, over the next three years, 100 leading UK SMEs will be selected to become Commonwealth Export Champions. Through intensive training, mentoring, trade missions and business development support, these Export Champions will be supported in their quest to win new businesses in the fast growing Commonwealth markets. Their success will then be showcased as encouragement to the wider business community to make greater use of the Commonwealth network,” he said.
Mr Everett revealed that the Commonwealth trade was expected to double to one trillion dollars by 2020.
This is according to a statement released by the Zambia High Commissioner to the United Kingdom First Secretary for Press Abigail Chaponda.
Ms Chaponda stated that 50 businesses from Africa would be chosen to be in the first phase of the project and Zambian SME’s had been encouraged to take part in the project.
She said that the launch was attended by Zambian High Commission Counsellor Economic and First Secretary-Trade, some High Commissioners, other Diplomats and various organisations under the Commonwealth.