The Common-wealth is the largest grouping of countries after the United Nations. It brings together 54 countries, spanning 6 continents with a third of the world's population - 2 billion people. Some of the fastest growing economies in the world are part of the association including two G8, and five G20 members (Australia, Canada, India, South Africa and UK).
It accounts for 20% of world trade and includes some of the fastest growing infrastructure, agriculture and energy development programmes. The largest economies/populations: Australia, Bangladesh, Canada, Kenya, India, Malaysia, Nigeria, Pakistan, Singapore, South Africa, UK and its five biggest economies Australia, Canada, India, South Africa and the UK are together worth $6382 billion each year.
The Commonwealth Business Forum (CBF) ganised by the Commonwealth Business Council in collaboration with the private sector, Australian Government and Government of Western Australia. It will be hosted in Perth, Australia, on the 25-27 October 2011 in conjunction with the Commonwealth Heads of Government Meeting, focusing on the theme "Partnering for Global Growth: The Commonwealth, Indian Ocean and the Pacific Rim".
The key objectives of the launch event in Karachi on 24 May are to raise awareness of the Commonwealth and specifically the work and value of the Commonwealth Business Council; to highlight opportunities from involvement in CBF; and to support bilateral relationships and economic links between Pakistan and Australia.
The Forum in Perth will highlight new global economic partnerships for trade and investment in key sectors across the Commonwealth and beyond. The CBF as a unique gathering of business leaders from developed and emerging markets will focus on building the new economic and financial architecture in the global economy and ensure that it is inclusive and beneficial to all. This important business meeting will present a useful platform for fostering such partnerships and new relationships.
The Forum will provide a unique opportunity for business and government to:
--- Learn from more than 100 speakers and panelists including Heads of Government, Ministers of Finance, Trade and Development, Chairmen and Chief Executives of business and other industry leaders;
--- Meet and discuss trade, investment and partnership opportunities;
--- Learn about new business and investment prospects;
--- Develop new business leads and identify new trade and investment partners;
--- Conduct and conclude business in one-to-one meetings with other international partners;
--- Network with policy makers, key government officials and business leaders;
--- Influence the global debate on important trade and investment issues;
--- Contribute to key policy recommendations to Commonwealth Heads of Government.
--- "Pakistan and Australia have a lot in common" said Tahir Mahmood of Austrade, Karachi. "Both countries have fertile land and mineral resources." Australia has strong capabilities in the area of agriculture and mining. Pakistan can benefit from this capability. A number of new dairy farms have Australian cows giving almost twice the average of a local dairy cow. Austrade will be happy to assist local business in getting products/services from Australian companies.
Arif Zaman, Adviser, Commonwealth Business Council, said that "the Commonwealth remains an untapped resource for Pakistan. However, it provides unique access to knowledge, relationships and markets that are crucial to Pakistan's future growth and success. The launch today of the 2011 Commonwealth Business Forum to be held in Perth, Australia, in October, is a concrete and initial step to ensure that Pakistan today is better understood and known across the Commonwealth and beyond and also to say that the Commonwealth is all stronger with Pakistan, its second largest member and one of the original eight signatories to the agreement in 1948 which established the modern Commonwealth, active not passive in its activities and future."-PR
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