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					Commonwealth Business Council
   Promoting trade & investment
       for shared prosperity




             www.cbcglobal.org
Global Challenges –
Commonwealth Opportunities
Paul Skinner, Chairman, Commonwealth Business Council


   n the current economic scenario, there      companies, the Commonwealth Business

I  is obvious concern about slowing
   growth in many parts of the world
economy and the implications for
                                               Council is well placed to help connect
                                               business with partners and opportunities.
                                               In its first ten years, CBC has worked
governments, business and societies. We        successfully to create platforms and
are facing an unparalleled set of economic     networks of relationships between
challenges that require new thinking and       business and governments, to identify and
responses. Rapidly accelerating                raise awareness of opportunities.
globalisation has made the global
economy complex and interlinked such           For Commonwealth developing countries,
that we can only move forward together.        the CBC has carried out extensive work to
                                               help mobilise investment. For developed
Developing countries are now firmly            countries, the CBC has played a key role in
integrated in the global economy with          helping to connect them to newly emerging
higher growth and greater influence. Now,      markets and developing countries within
more than ever, we have shared interests       the Commonwealth that offer good
between developed and developing               opportunities for trade and investment
countries. We need to recognise and            which may remain unrecognised.
leverage this changing balance for mutual
benefit. In this context, the                  In planning our forward strategy for the next
Commonwealth, which accounts for 20% of        ten years, CBC intends to continue this
global trade, has an important role and        work and also engage more in practical
potential in helping governments and           projects, promoting investment in priority
business respond to these new dimensions       sectors. We look forward to working in
of globalisation.                              partnership to achieve these shared goals.

We need to maintain a continued focus on
the potential for partnerships between
developed and developing economies to
pursue economic growth and development.
Commonwealth countries are at the centre
of these trends within globalisation, poised
to harness new opportunities that may well
be accelerated as a result of the recent
economic gyrations.

As an organisation that bridges developed
and developing countries, large and small


                                                                                               1
    CBC Board 2008-9
          Mr Paul Skinner            Dr Mohan Kaul
          Chairman CBC and           Director-General CBC
          Rio Tinto plc




    Members
          Mr Rahul Bajaj, MP         Mr Hussain Dawood
          Chairman                   Chairman
          Bajaj Auto Ltd             The Dawood Group
          India                      Pakistan
          Co-Chair CBC 2003-05



          Mr John Denton             Dr Pascal Dozie
          Partner and Chief          Chairman
          Executive Officer          Diamond Group
          Corrs Chambers Westgarth   Nigeria
          Australia



          Mr Louis Farrugia          Sir Allan Fields, KCMG
          Group Chief Executive      Chairman
          Simonds Farsons Cisk plc   Cable & Wireless
          Malta                      Barbados




          Mr Jacques Lamarre         Mr Reginald Mengi
          President and CEO          Executive Chairman
          SNC-Lavalin Group Inc      IPP Limited
          Canada                     Tanzania
          Chair CBC 2006-07



          Mr Lakshmi Mittal          Mr James Mulwana
          Chairman and CEO           Chairman
          Arcelor Mittal             Nice House of
          United Kingdom             Plastics Ltd
                                     Uganda



          Mr Cyril Ramaphosa         Tun Dato’ Seri Ahmad
          Executive Chairman         Sarji Bin Abdul Hamid
          Shanduka Group (Pty) Ltd   Deputy Chairman
          Chairman MTN               Sime Darby Berhad
          South Africa               Malaysia
          Co-Chair CBC 1997-2003


          Mr John Studzinski, CBE    Hugh Morgan, AC
          Senior Managing Director   CEO
          The Blackstone Group       First Charnock,
          International Ltd          Former CEO Western Mining
          United Kingdom             Co-Chair CBC 2003-05
                                     Director Emeritus



2
CBC’s Vision: Sharing Global Prosperity
by Making Globalisation Work for All
Mohan Kaul, Director General, Commonwealth Business Council


       aving been given the mandate from         business from developed countries.

H      Commonwealth Heads of
       Government in 1997 to involve the
private sector in the promotion of trade
                                                 CBC has appreciated the interest and
                                                 support from Heads of Government to
and investment with the Commonwealth,            achieve its mission. We have been
the Commonwealth Business Council set            fortunate to have attracted high calibre
out its vision for “sharing global prosperity    private sector leaders who have given their
by making globalisation work for all”.           valuable time and made considerable
Since then, CBC has pursued its mission          personal commitments to taking the CBC’s
through the promotion of global trade and        work forward.
investment with an enhanced role for the
private sector in Commonwealth                   After ten years of operation, we are
countries.                                       pleased to present a review of the CBC’s
                                                 role, achievements and plans for the next
Before CBC’s establishment, there was no         ten years to help Commonwealth
vehicle for dialogue and partnership on          governments and the private sector
trade and investment between business            increase trade and investment for shared
and government in the Commonwealth. By           prosperity. This is intended to serve as a
building this partnership, the CBC has           basis for dialogue on renewed support and
differentiated itself from other international   partnership from governments and the
and regional agencies. The key tests of          private sector.
relevance, would Commonwealth
governments be interested in hearing the         With further support, CBC aims to extend
views of the private sector and would the        its work to a wider range of countries
private sector itself support a business         including in the Caribbean and Pacific,
initiative for enhancing trade and               building on activities around the
investment, have been answered by                Commonwealth Business Forum and
acclamation.                                     CHOGM in Trinidad and Tobago in 2009.

CBC’s work has focused on: the promotion         We look forward to working together to
of trade and investment with                     achieve our common goals for economic
Commonwealth countries; and creating an          growth and sustainable development in the
enhanced role for the private sector in          Commonwealth.
national economies. Our strength has been
the ability to develop relationships and
knowledge to help understand and interpret
the rapidly changing developing economies
and create a platform for partnerships with

                                                                                               3
    CBC Working Group Chairs
    and Special Advisers
        Owen Arthur                  The Rt Hon The Earl Cairns   Bernard Dulal-Whiteway
        Former Prime Minister,       Chairman                     Chair, Commonwealth
        Barbados                     Zambia International         Business Forum 2009
                                     Business Advisory Council    Steering Committee and
                                     Co-Chair CBC 1997-2003       Chief Executive, Neal and
                                     Chairman, Zain               Massey, Trinidad & Tobago

        William Asiko                Dick Howe                    Kevin Stovell
        Group Public Affairs &       Chairman,                    Group Business
        Communication Director,      West African Business        Development Director,
        Coca Cola Africa             Association, Cameroon        Mott Macdonald, UK
                                     Managing Director,
                                     Geovic Cameroon plc

        Robert Blackburn             John Hyland                  Dato’ Mohamed Sulaiman
        Senior Vice President,       Senior Legal Counsel,        Independent Non-Executive
        SNC Lavalin International    InterHealth Canada           Director,
        Canada                                                    Sime Darby, Malaysia



        Nigel Denison                Dr Octavian Purcarea
        Director and Head of         Industry Solutions
        Markets, Bank of London      Manager,
        and the Middle East          Worldwide Health,
                                     Microsoft


        Ashank Desai                 Bruce Robertson
        Chairman, Mastek,            Managing Director,
        India                        The Gibson Group and
                                     Regional Executive Officer
                                     Export Institute of New
                                     Zealand

        Robert Desvaux               Reto Schnarwiler
        Chairman, Mauritius          Head, Public Sector
        Tourism Promotion            Business Development,
        Authority                    Swiss Re



        Ann Grant                    James Smith
        Vice Chairman,               Chairman, Shell UK
        Standard Chartered Capital
        Markets Ltd, UK




4
Impact on the Commonwealth
and global agenda
       BC has made an impact on both the

C      global and Commonwealth agenda.
       CBC has been successful in
demonstrating that the Commonwealth
principles of good governance and socially
responsible market economies, if applied
effectively, work to help increase
economic growth and sustainable
development. This has been shown in a
broad range of countries where CBC has
been strongly engaged, that are now
achieving growth rates above 5% per
annum. Governments are now more
inclined to view the private sector as a
key partner in unlocking the drivers of
economic growth.

CBC’s impact and influence has been                                                                  Hon. Patrick Manning, Prime Minister,
recognised through establishment of MOUs                                                 Trinidad & Tobago, host of CHOGM and CBF 2009
with international agencies including
                                                     5. “The Abuja Manifesto”, comprising
UNCTAD, ITU, UN Office of Partnerships
                                                        Business – Government Partnerships for
and NEPAD.
                                                        Removing Practical Obstacles to Wealth
                                                        and Job Creation was adopted at the
                                                        2003 CHOGM
Among its significant achievements:
                                                     6. Joint Action Plan for Business and
1. The expansion of intra-Commonwealth                  Government: Enabling Corporate
   trade from $2 trillion in 1997 to $3                 Citizenship for Sustainable Development
   trillion in 2007                                     adopted at the 2003 CHOGM
2. Intra-Commonwealth investment flows               7. Setting up Commonwealth Connects with
   have exceeded $180 billion                           other organisations and mobilising
                                                        private sector inputs to harness
3. CBC’s policy paper on trade issues led
                                                        information and communication
   to the first Commonwealth declaration
                                                        technology for development and help
   on trade issues at the 1999 CHOGM in
                                                        reduce the digital divide
   Durban, and subsequent programmes on
   market access and trade facilitation              8. CBC contributed to the design of the
   linking with partners including the WTO              $500 million AU/NEPAD Investment
                                                        Climate Facility for Africa
4. CBC’s Investment Principles were
   adopted by Heads of Government at the             9. CBC set up the Boksburg Group on
   2002 CHOGM and implemented in                        Trade Facilitation in consultation with
   several countries                                    the World Trade Organisation




Dr Mohan Kaul, CBC CEO, Lord Malloch Brown,          Hon Lawrence Gonzi, Prime Minister of Malta, Mr John Studzinski, Senior Managing
Minister for Africa, Asia and the UN, Paul Skinner   Director, The Blackstone Group International Ltd and CBC Board Member,
Chairman CBC and Rio Tinto                           Hugh Morgan, CEO First Charnock and CBC Co-Chair 2003-05 at CBF 05


                                                                                                                                        5
CBC at Commonwealth Heads of
Government Meetings (CHOGM)


    1997 Edinburgh CHOGM Communiqué
               We welcome the recommendations of the first ever
              Commonwealth Business Forum held in London on
              22-23 October 1997. We believe that the Forum
    can be an important link between the private and public
    sectors and foster vibrant private sector business links. It
    should continue to meet every two years. We are also
    arranging to set up a Business Council under Lord Cairns and
    Mr Cyril Ramaphosa to encourage greater private
    sector involvement in the promotion of trade and
    investment.
                                                                                                                              Rt Hon Tony Bl
                                                                                                   e Earl Cairns                             air former Prim
                                                                                     The Rt Hon th                            Minister, UK                  e
                                                                                     Founding Co -Chair CBC                                and host of
                                                                                                                              CHOGM 1997




    1999 Durban CHOGM Communiqué
               Heads of Government warmly commended the
              efforts of the Commonwealth Business Council
              and received the report of the Commonwealth
    Business Forum. They recognised the essential role of the
    private sector as a partner in shaping globalisation with
    equity. They noted the Forum’s recommendations on
    trade, investment, ethics, corruption and corporate
    governance,       infrastructure   development       and
    Commonwealth-CBC co-operation. Heads of Government
    expressed support for the work of the CBC and
    for the proposed Commonwealth guidelines on
    corporate governance.

                                                                                                                  Hon Alec Erwi
                                                                                                        South Africa,            n, Minister of
                                                                                                                      and Cyril Rama            Public En
                                                                                                                                      phosa Chairma terprises
                                                                                                                              Group and Fo            n Shanduka
                                                                                                                                            unding Co-Cha
                                                                                                                                                           ir CBC




                                                                               2002 Coolum CHOGM Communiqué
                                                                                           Heads of Government endorsed the 16 Investment
                                                                                           Principles set out in the CBC Report and noted the
                                                                                           various recommendations contained in it. They
                                                                               urged the CBC to promote vigorously the implementation of
                                                                               the Principles. They also commended the CBC
                                                                               initiative establishing the Friends of Africa Business
                                                                               Group.




                     Rahul Bajaj, Chairman, Bajaj Auto Limited and CBC Co-Chair 2003-05, and
                     Hugh Morgan, CEO First Charnock and CBC Co-Chair 2003-05




6
2003 Abuja CHOGM Communiqué
           Heads of Government received the Report of the CBC and the Commonwealth
           Business Forum and noted the recommendations, particularly for establishing
           Business-Government Partnerships for Removing Practical Obstacles to
Wealth and Job Creation - “The Abuja Manifesto” and for the CBC’s Joint Action Plan
for Business and Government: Enabling Corporate Citizenship for Sustainable
Development. Heads of Government commended the work of the CBC in mobilising
investment, removing barriers to trade, promoting good corporate governance, creating
a good environment for business investment and bridging the digital divide. They
particularly welcomed the CBC initiatives for developing an investment index; supporting
                                                                                                                                      Former Preside
multilateral trade negotiations; and establishing and developing                                                                    HE Olusegun
                                                                                                                                                    nt of Nigeria
                                                                                                                                                Obasanjo at th
common standards and codes of ethics for governance and                                                                           Commonwealt                   e
                                                                                                                                              h Business Fo
                                                                                                                                                             rum
accountability in government, the private sector and civil society.                                                                               2003 in Abuja




                                                                                                       2005 Valletta CHOGM
                                                                                                       Communiqué
                                                                                                                   Heads of Government commended
                                                                                                                  the CBC’s work to enhance trade and
                                                                                                                  investment by providing a bridge
                                                                                                                  between the private sector and
                                                                                                       Governments, between developed and
                                                                                                       emerging markets, and between large and small
                                                                                                       businesses. They welcomed the dialogue with
                                                                                                       the private sector through the Commonwealth
                                                                                                       Business Forum and requested the
                                                                                                       CBC to carry forward its work in
                                                                                                       collaboration with governments.
                                                                               Navinchandra
                                                               03-05, Hon Dr                  e
                                                  C Co-Chair 20                 r of Malta, Th
                                   arnock and CB                  Prime Ministe
                   n, CEO First Ch                  wrence Gonzi,                    n,
 (L-R) Hugh Morga            r of Ma uritius, Hon La          hul Ba jaj, MP Chairma
               Prime Ministe                      os and Mr Ra
 Ramgoolam,                         ter of Barbad
                      , Prime Minis
  Rt Ho n Owen Arthur           hair 20 03-05
                 and CBC Co-C
  Bajaj Auto Ltd




2007 Kampala CHOGM
Communiqué
           Heads of Government commended the CBC’s
           work to increase trade and investment in
           partnership with governments and the private
sector over the past ten years, since its establishment
by Heads of Government in 1997. They welcomed the
contribution of the CBC to the growth of Commonwealth
trade and investment in that period through a number of
initiatives. They also welcomed the dialogue with the
private sector through the Commonwealth Business
Forum and requested the CBC to carry forward
its work in collaboration with governments.



                                                                   (L-R) Gary Hoffman, Former Vice Chairman Barclays PLC, Dr Mohan Kaul, CEO CBC, HE Ernest Bai
                                                                   Koroma, President of Sierra Leone, HE Yoweri Museveni, President of Uganda, HE Bharrat Jagdeo,
                                                                                 President of Guyana and James Mulwana, Chairman, CBF Steering Committee 2007




                                                                                                                                                                    7
    A bridge between developed and
    emerging markets
                                                                                      CBC has often been
                                                                                      the pathfinder for
                                                                                      others to follow.
                                                                                      Commonwealth Business Forum 2003,
                                                                                      Abuja, Nigeria: Infrastructure projects
                                                                                      worth $3 billion were discussed
                                                                                      Commonwealth Business Forum 2005,
                                                                                      Valletta, Malta: Malta has benefited from
                                                                                      a threefold increase in investment in the
                                                                                      two years following the Forum which
                                                                                      developed Commonwealth links with the
                                                                                      Mediterranean, Middle East and North
                                                                                      Africa.
                                                                                      Commonwealth Business Forum 2007,
                                                                                      Kampala, Uganda: Investment flows into
                                                                                      Uganda have increased following the 2007
                                                                                      Commonwealth Business Forum, with more
    HE President Mwai Kibaki,                he CBC’s programmes work for the

                                       T
                                                                                      than $1billion worth of projects in infra-
    Republic of Kenya and
    Dr Mohan Kaul, CEO CBC                   benefit of both developed and            structure, energy and telecommunications
                                             developing countries in the              being commissioned.
                                       Commonwealth. For developed countries,         India Trade and Investment Forum 2005,
                                       the CBC has played a pivotal role in           New Delhi, India: CBC arranged links
                                       helping to connect them to newly               between the Australian and Indian
                                       emerging markets and developing                governments which led to signature of an
                                       countries within the Commonwealth that         MOU for co-operation and delivery of the
                                       offer good opportunities for trade and         Commonwealth Games in India.
                                       investment which may remain
                                       unrecognised. By engaging business and         Africa Investment Forum Series 2003 -
                                       governments, with countries in Africa,         2008, Johannesburg, South Africa:
                                       Asia and the Caribbean, the CBC has            discussed investment opportunities worth
                                       provided an effective bridge within the        over $5 billion; priority accorded to
                                       rapidly globalising world economy.             promoting Intra-African trade
                                                                                      South Asia Trade and Investment Forum,
                                       For developing countries, the CBC has          London 2006: enhanced opportunities for
                                       carried out extensive work to help mobilise    intra-regional trade under the South Asia
                                       investment, organising over 60 major           Free Trade Agreement; regional
                                       international investment programmes, and       infrastructure
                                       in particular events benefiting Cameroon,      Caribbean Investment Forum 2004, West
                                       Ghana, India, Tanzania, Malawi,                Africa Investment Forum 2005-2009 and
                                       Mozambique, Nigeria, Sierra Leone,             East Africa Investment Forum 2008: focus
                                       Uganda, and Sri Lanka, which have made a       on regional investment opportunities
                                                            measurable difference
                                                            to increasing
                                                            investment flows.
                                                            These countries, many
                                                            of which have had
                                                            difficulties projecting
                                                            themselves or getting
                                                            interest from other
                                                            agencies, are now
                                                            considered favourably
                                                            as investment
                                                            destinations.


    The Rt Hon Gareth Thomas, Minister of State for the                               HE Bharrat Jagdeo, President of Guyana addressing the 2007
    Departments of BERR and DFID, UK addressing CBC                                   Commonwealth Business Forum in Kampala
    Members

8
Partnerships to unlock
economic growth
       BC’s Working Groups of private

C      sector members have contributed
       high level recommendations to
governments in areas including financial
inclusion, local content, carbon markets,
disaster risk management, intra-Africa
trade, corporate governance, private
public partnerships for infrastructure
development, tackling corruption, eHealth
and healthcare infrastructure.

By organising Forums, events and
interaction with Heads of Government,
senior Ministers and government agencies,
CBC has provided its private sector
members with valuable engagement
through public-private dialogue. Projects                   (L- R): Dr Mohan Kaul, CEO CBC, Lord Malloch Brown, Minister for Africa, Asia and the UN, UK,
worth billions of pounds have been                               Paul Skinner, CBC and Rio Tinto Chair, HE Prime Minister Ephraim Inoni of Cameroon, and
discussed at CBC events. CBC has played                                                  The Rt Hon Bethuel Pakalitha Mosisili, Prime Minister of Lesotho
an essential role as a broker for
investment and facilitating business deals
including: MTN mobile telecoms licence in                  CBC has established programmes to
Nigeria; investment by UK banks and                        address priorities through:
Tanzanian commercial farms into
                                                           • Business Action for Africa
Mozambique; CDC investment in the
                                                           • Business Action Against Corruption
Songas power project in Tanzania.
                                                           • Business Action for Corporate
                                                             Governance
                                                           • Africa Recruit and FindaJobinAfrica
                                                           • Zambia International Business Advisory
                                                             Council
                                                           • South Asia Trade and Investment
                                                             Network
                                                           • UK-India Business Leaders Forum
                                                           • Participation in Presidential Investment
                                                             Roundtables
                                                           • Intra-Africa Trade Group




(L- R): Jacques Lamarre, President and CEO SNC-Lavalin
Group Inc Canada and CBC Chair 2006-2007, Dr Kaul,
CBC CEO, The Rt Hon Jim Bolger, former Prime Minister of
New Zealand, and Baroness Chalker of Wallasey at
Commonwealth Business Forum 2005


CBC has mobilised private sector inputs to
harness information and communication
technology for development and help
reduce the digital divide by setting up
Commonwealth Connects with other
organisations. Business outsourcing
expertise has been well developed by India
and CBC is now working to share such
expertise for the development of African
outsourcing with a range of interested
countries.                                                                          Former Indian President APJ Kalam addressing delegates in New Delhi
                                                                                         at the launch of Commonwealth Connects e-Partnership Summit


                                                                                                                                                            9
     The CBC’s
     unique role
                                                                                    in partnership with CBC members. This
                                                                                    role is distinct and different from other
                                                                                    international agencies.

                                                                                    CBC is delivering its mission through
                                                                                    focusing on core areas: leadership in
                                                                                    increasing international trade and
                                                                                    investment flows and reducing trade
                                                                                    barriers; creating new business
                                                                                    opportunities and implementing practical
                                                                                    and innovative business initiatives;
                                                                                    promoting good governance, corporate
                                                                                    social responsibility and social innovation;
                                                                                    reducing the digital divide; and integrating
                                                                                    developing countries into the global
                                                                                    market.

                                                                                    CBC works with governments to identify
                                                                                    requirements for trade, investment and
                                                                                    infrastructure development and involves the
     Former CBC Chairman Jacques             he CBC has now become a value-
     Lamarre, Dr Mohan Kaul and CBC
     members in dialogue with Former
     Secretary of State for the
     Department for Trade and
     Industry, UK Alan Johnson and
                                       T     driven, independent international
                                             organisation for dialogue between
                                       Commonwealth governments and the
                                                                                    private sector to help mobilise finance and
                                                                                    deliver solutions. The CBC’s extensive
                                                                                    rapport with Commonwealth governments
                                                                                    gives members a unique opportunity for
     Indian Minister for Commerce      private sector on key global issues, and     dialogue with these governments. CBC
     and Industry, Kamal Nath          for developing joint-action economic         would like to increase its reach to a wider
                                       empowerment programmes. CBC is a             set of countries, which has not been
                                       well-known and respected global brand        possible due to limited resources.
                                       and acts as a trusted partner and
                                       impartial facilitator to bring businesses    Members have the opportunity to make
                                       and government from both developed and       high-level recommendations through CBC’s
                                       developing countries together to promote     Working Groups. They focus on issues that
                                       globalisation and socio-economic             adversely impact business activity, on
                                       development. In fulfilling this mission,     areas of growth, development and
                                       CBC strives to provide a bridge between      opportunity and make recommendations to
                                       governments and the private sector,          achieve a better business environment for
                                       between developed and emerging markets       both the private and public sector. They
                                       and between large and small businesses.      also address a range of governance and
                                                                                    social development issues aimed at
                                       CBC has carried out a unique role by         promoting good practice and sustainable
     James Smith, Chairman Shell UK,
     and Dr Pascal Dozie, Chairman,    combining a focus on the policy issues       economic growth worldwide.
     Diamond Group, Nigeria, and CBC   along with implementing practical projects
     Board Member




                                                                                    UN Deputy Secretary General Dr Asha-Rose Migiro with
                                                                                    Dr Mohan Kaul, CEO CBC


10
Implementing
Practical Projects
      he CBC has been implementing             Renewable Energy: Clean Technology

T     practical projects including:
      agricultural investment in Africa;
rural banking infrastructure; renewable
                                               CBC is working with the Ministry of Science
                                               and Technology in India, and public/private
                                               sector partners including BP and the
energy; infrastructure investment in power     Carbon Trust, on a focused initiative to
and transport; and an African Electronic       harness the potential of clean technology
Payment Gateway. These innovative              solutions for renewable energy. The “Green
projects mobilise investment from the          Oorja” Initiative is a major programme that
private sector which has not previously        facilitates the exchange, adoption,
been forthcoming. Brief project profiles       development and commercialisation of key
are as follows.                                renewable energy technologies and those
                                               that improve energy conservation. This
Commonwealth Financial Solutions               initiative will bring together global
Over the next four years, CBC will establish   companies and partners to create a
with its joint venture partners 500            knowledge transfer eco-system to
Commonwealth Financial Centres across          ultimately find innovative ways of creating
the rural belt in Uganda. This project is      new energy forms; share best practices
based on using low-cost technology for         and make available existing solutions by
banking purposes. The project will increase    efficient technology transfer mechanisms.
the availability of banking services in
Uganda to help ‘bank the unbanked’,                                                          Secretary of State for
                                                                                             Environment, Food and Rural
provide micro-banking and lower the cost of                                                  Affairs, UK, Hilary Benn and
remittances. The centres will be staffed by                                                  HE Olusegun Obasanjo, former
                                                                                             President of Nigeria
qualified, independent financial advisors
and provide ATMs with satellite links to the
national and international banking
networks. A network of 5000 retail POS
machines will be established with retailers.
$5 million has already been invested, with
a further $30 million to be raised for the
project.



HE Yoweri Museveni President Of Uganda
at the Opening of A Zipp Money
Commonwealth Financial Centre in 2008




                                                                                                                            11
                                        African Payment Gateway
                                        CBC is working with NEPAD to create a
                                        payment gateway over the next two years
                                        that will connect African small businesses
                                        to international commerce, in time for the
                                        football World Cup 2010 in South Africa.
                                        Along with our project partners, CBC will
                                        implement an eBay type system for African
                                        products and services along with an escrow
                                        facility to ensure payments through banks
                                        in participating countries. CBC is working
                                        with a number of governments to roll out
                                        the Gateway and bring African small           HE Babatunde Raji Fashola, Lagos State Governor,
                                        business to the world.                        addressing the Lagos State Infrastructure Forum 2008,
                                                                                      London

                                        Mobilising Infrastructure Investment
                                        CBC is responding to the accelerating need
                                        for infrastructure investment together with
                                        its members, by engaging with
                                        governments and private sector partners in
                                        countries including India (Gujarat State),
                                        Namibia, Nigeria (Lagos State) and Malawi.
                                        CBC aims to put together “best of class”
                                        consortia with expertise in finance and
                                        investment, consultancy, legal,
                                        construction and engineering. In the first
                                        phase, CBC is working with the
                                        Government of Gujarat on the Special
                                        Investment Region and identifying energy,
                                        power and transport projects in Namibia,
                                                                                      HE Armando Guebuza, President of Mozambique
                                        Nigeria and Malawi.                           addressing CBF 2007

                                        Agriculture Investment in Africa              as many as twelve other countries could be
                                        Together with CBC member CRU                  involved to help turn Africa from a net food
                                        Investment Management, CBC is aiming to       importer into the bread basket for the rest
                                        mobilise investment for production of food    of the world. Large scale farming projects
                                        staples to create self-sufficiency in sub-    along with smallholder engagement will
                                        Saharan African countries. Initial            bring benefits to farmers, local
                                        investment has commenced in Malawi, and       communities, governments and investors.




 Dr Jamshed J Irani former President,
 CII addressing the CBC-Cll India
 Infrastructure Investment Forum
 2007 in India



12
Planning for the
Next Ten Years
                                                                                                Members of the Board gathered
                                                                                                for the Board Meeting in London
                                                                                                November 2008




      esponding to globalisation has           with globalisation and companies and

R     brought challenges to all countries,
      especially developing countries and
small vulnerable states. Enhanced
                                               governments from developed countries are
                                               forced to engage with emerging markets
                                               more fully.
competition, resource scarcity and
increased interconnectedness have led to       CBC will always face difficult choices in
more rapid exposure to global and              addressing the priorities of 53 countries
regional issues. Over the next ten years,      and meeting their diverse needs. The CBC
we expect that the pace of change will         mission will remain as agreed by Heads of
intensify. There is likely to be a period of   Government when it was set up: to help
uncertainty and significant policy changes     make globalisation work for all and to
related to key issues such as global           strengthen the role of the private sector,
finance, trade and climate change.             which will be the engine of future growth
Government and business leaders will           and prosperity. The key challenge is to help
need to face these challenges which will       promote inclusive growth and more
require structural changes, particularly in    equitable distribution of the gains from
developing countries, to build local           globalisation for developing countries.
capacity, create employment and prepare
them to compete in the global                  CBC’s goal will also remain constant: to
marketplace.                                   deliver programmes which support this
                                               mission by continuing to concentrate on
This creates more demand for CBC’s             four areas:
services. Firstly, because the quality of
public-private debate – which is an            • mobilising investment into
important characteristic of the CBC              Commonwealth countries;
mandate – is constantly challenged by the      • promoting trade growth through removing
pace of change. Secondly, because public-        barriers to trade and facilitating joined up
private dialogue in many Commonwealth            sustainable trade;                                      Port of Spain, Trinidad,
countries still lacks any established                                                                       location of the 2009
                                               • strengthening corporate governance and                   Commonwealth Heads
traditions and is not entrenched. CBC has
                                                 corporate social responsibility;                        of Government Meeting
championed the idea that better                                                                         and The Commonwealth
cooperation between the private and public     • harnessing technology for development.                          Business Forum
sectors can help Commonwealth countries
modernise and become more open –
politically and economically - and is now
positioned to build on the opportunities
this has created.
Within this context, the relevance of the
Commonwealth Business Council will be
even more important than ten years ago,
as developing countries struggle to cope

                                                                                                                                    13
     Delivering the programme for
     the next 10 years
                                                                                    • preparing country specific programmes
                                                                                      focused on requirements of developing
                                                                                      countries (e.g. infrastructure, technology
                                                                                      development)
                                                                                    • working more closely with the
                                                                                      Commonwealth Secretariat through
                                                                                      private sector inputs for CHOGM and
                                                                                      Ministerial Meetings

                                                                                    • piloting in-country representation in
                                                                                      countries with large CBC programmes –
                                                                                      in Nigeria and India in 2008-2009,
                                                                                      followed by consideration of other
                                                                                      countries as required

                                                                                    • Focusing on human resource
                                                                                      requirements in Africa through Africa
                                                                                      Recruit and FindaJobinAfrica

                                             hile enhancing its services

                                     W
     (L- R): Paul Skinner, CBC                                                      Further Develop Membership Services &
     Chairman, HE Mr Shiv Shankar            and delivery as the business           Programmes:
     Mukherjee, Indian High
     Commissioner to the UK,                 arm of the Commonwealth the
     Baroness Ashton, European       CBC intends to:                                • implement programmes and services for
     Trade Commissioner,                                                              members to ensure they receive value
     Hon. Kamal Nath, Minister of
     Commerce and Industry, India,   Strengthen its Role in Public-Private            and remain as members
     Dr Mohan Kaul, CEO CBC.         Policy Development by:
                                                                                    • develop flexible programmes and new
                                     • providing a centre of excellence carrying
                                                                                      Working Groups in consultation with
                                       out practical programmes, provision of
                                                                                      corporate members to respond to their
                                       information, research and analysis,
                                                                                      priorities and objectives
                                       sharing of experience on business
                                       engagement with globalisation and
                                                                                    • carry out interactive policy seminars
                                       private sector development
                                                                                      between business and governments on
                                     • strengthening the linkages between             key topics
                                       developed and emerging markets through
                                       research, analysis and private-public
                                       dialogues

                                     • strengthening further the interface with
                                       governments through policy inputs,
                                       private sector engagement and private-
                                       public dialogue with Heads of
                                       Government, Ministers and officials in
                                       areas related to trade and investment

                                     Broaden its Reach and Level of
                                     Engagement by:
                                     • strengthening its ability to engage with a
                                       wider range of countries including least
                                       developed countries and those with
                                       smaller markets, particularly including
                                       countries in the Caribbean and Pacific
                                     • developing new partnerships and
                                       linkages between the Commonwealth and
                                       the Americas, leveraging the
                                                                                    Hon. Navinchandra Ramgoolam, Prime Minister of
                                       Commonwealth Business Forum in               Mauritius addressing the Africa-Americas-Asia Business
                                       Trinidad and Tobago in November 2009         Summit 2008 in Mauritius


14
• provide business services including
  corporate finance, technology and
  outsourcing, market entry, investments
  and ventures
• assist the development of capability and
  capacity in governments and the private
  sector through mobilisation of private
  sector expertise of CBC members
• develop practical programmes jointly with
  CBC members to address priorities of
  members in investment and trade issues
  and needs of developing countries in
  business related aspects of issues such
  as inclusive finance, tackling
  environmental issues and climate change,
  and development of clean technology
                                                Conclusion                                          (L-R): KV Kamath, CEO and
• develop Enterprise Initiatives, working       CBC’s emphasis has been on making
                                                                                                 Managing Director, ICICI Bank,
  with CBC members, e.g. development of                                                           Dr Mohan Kaul CEO CBC and
                                                globalisation work for all through enhanced         Peter Sands, CEO Standard
  regional bond markets, aggregation of         trade and investment. We have built strong      Chartered Bank at the India UK
  infrastructure financing, corporate           relationships with Commonwealth
                                                                                                Business Leaders Forum 2008.
  finance, capital markets, Alternative         governments and the private sector and
  Investment Market, project finance, trade     delivered practical programmes to provide
  finance and specific funds                    a valuable bridge between the developed
                                                and emerging markets. Both developed and
• assist developing country companies to
                                                developing countries recognise the CBC as
  adopt modern business practices, build
                                                an important interface and in this way CBC
  local capacity for wealth and job creation,
                                                has played a unique role for the
  and improve competitiveness in global
                                                Commonwealth. We aim to extend the
  markets
                                                CBC’s reach to involve more countries in
• execute projects in new areas with inputs     our programmes. We look forward to
  from CBC members                              continued good relations with governments
                                                and business along with renewed support
• facilitate technology transfer between        to achieve the goals of the next
  developed and developing countries            ten years.




                                                                                              Winners at the Inaugural CBC African
                                                                                              Business Awards 2008 in London


                                                                                                                                  15
     CBC Directors / Heads of Department
                          Vijay Amliwala is the Managing                                      Vijay Kumar has over 27 years of business
                          Director of CBC Technology. He has                                  experience and is a Director and Chief
                          25 years of IT experience, working in                               Executive of CBC Projects and Finance Ltd,
                          manufacturing, service, defence and                                 CBC, UK. Vijay was awarded the
                          finance sectors. He has worked as IT                                prestigious “Innovator of the year 2005”
                          specialist on Equity trading systems                                by Total Business group, for the unique
                          working for J.P. Morgan & NatWest                                   model created for currency exchange. His
                          Markets. Before joining CBC, Vijay was                              first business set up was Technology
     a Vice President at Morgan Stanley working in Chief               Transfer Group, an engineering company introducing new
     Technology Office, delivering global solutions on cutting         technologies for steel plants in collaboration with a Scottish
     edge Trading Platforms and CRM System.                            group. In 1989 Vijay relocated to UK to start international
                                                                       operations for the company and soon established his own
                                                                       currency brokerage in 1994.
                             Dr T. A Banjoko, Director, Africa
                             Recruit, is a seasoned and gifted                               Peter Longworth, CMG, is Director,
                             change management consultant.                                   Government and Public Affairs,
                             She pioneered the formation of                                  Commonwealth Business Council (CBC).
                             AfricaRecruit a programme designed                              Before joining the CBC in 2001, he was
                             to build capacity in Africa using human                         the British High Commissioner to
                             capital as a main driver. The project                           Zimbabwe, 1998 – 2001. He was in HM
                             received international acclaim and the                          Diplomatic Service for 27 years in
     active support of the UN, African Union and NEPAD. Since                                political and commercial representation
     then, the initiative has performed creditably and become a        capacity. His various duties included negotiations, public
     key part of the NEPAD programme to mobilize quality skills        diplomacy, media relations, protection of British citizens,
     for Africa; it also received the written endorsement of the       development assistance, analysis and advice to ministers.
     Chairperson of the African Union
                                                                                               Gregor MacKinnon joined the CBC in
                                                                                               1998. He has been Director of
                                                                                               Programmes since 2003 and is currently
                            Austin A. Browne’s role as Commercial                              responsible for Membership, Projects
                            Director at the Commonwealth                                       and Programme Development. He is also
                            Business Council entails the creation                              Company Secretary. During his career,
                            and development of on-going                                        he has held positions with the
                            programmes with a view to facilitating                             Commonwealth Secretariat, in the
                            effective Public & Private Partnerships    Political Affairs Division and General Technical Assistance
                            to address the key issues that may         Services Division. He started his career with the United
                            impact on Trade and Investment across      Nations Development Programme field office in Haiti.
     the 53 Commonwealth member countries. He is responsible
     for spearheading key Commonwealth wide strategic                                        Jeff Rodwell is Director, Investments and
     initiatives with organisations such as Microsoft on eHealth,                            Ventures. He is an experienced
     Swiss Re on Disaster Risk Management, and Unilever on                                   commercial and corporate lawyer and
     Social Innovation & the Global Food Crisis. He studied Law                              has been a partner in a number of
     at Middlesex University, and previously held management                                 international law firms. He has lived and
     positions with HBL Broadcast Media, Lombard Business                                    worked in 3 different jurisdictions and
     Finance, and ICL-Fujitsu.                                                               held senior roles in Government and
                                                                                             private industry. Most of his work
                                                                       involves international mergers and acquisitions, securities and
                           Professor Steve Godfrey heads the           corporate finance, fund formation, corporate governance and
                           CBC conference division. He has             corporate transactional matters
                           managed the private sector
                           consultations of the Commission for                                David Wakeford MBE is currently the
                           Africa, chaired by Prime Minister Tony                             International Trade Director of the CBC.
                           Blair, and managed the launch of G8                                He was previously the Chief Executive of
                           Business Action for Africa (BAA). He                               SITPRO, a UK government-agency solely
                           recently served on the Technical                                   dedicated to the simplification of the
     Working Group that established the new $550m private-                                    international trade process. He founded
     public Investment Climate Facility (ICF). He has served as a                             the developing country think tank ‘The
     senior consultant to the DFID, the UN, EU, the BBC World                                 Boksburg Group’ which focuses on trade
     Service Trust, Global Alliance for Improved Nutrition (GAIN),     facilitation. He was also a founder member of the Trade
     and international companies. From 1993-98 he was Head of          Facilitation Alliance (TFA) a business group established to
     the Office of the Commonwealth Secretariat in South Africa.       encourage more efficient international trade practices. He was
     He has been Policy Adviser to the Secretary of State for          honoured by Her Majesty the Queen for his work for the
     External Affairs, Canada.                                         Chemical industry in the area of international trade.

16
CBC members
Abbott Laboratories Inc               John Holt Group
Actis Capital LLP                     KPMG International
Ancient Development Limited           Lloyds TSB
Anglo American                        Mackwoods Ltd
ArcelorMittal Steel Company           Madhvani Group
Arup Group                            Mastek Ltd
Axience Consulting Private Limited    Merck & Co Inc
Bajaj Auto Ltd                        Microsoft EMEA
Bank of Baroda                        Migson Ltd
Bank of London and The Middle East    Morgan Stanley
Barclays PLC                          Mott Macdonald
Bharat Forge Ltd                      MTN Group Ltd
Bird & Bird                           Multimedia Development Corporation (MDeC)
Blackstone Group                      Nice House of Plastics
BP                                    Petronas
British American Tobacco              PriceWaterhouseCoopers
Cable & Wireless Barbados Limited     QI Group of Companies
CDC Group Plc                         Redmax
Citi                                  Research In Motion [RIM] UK Ltd
Coca-Cola                             Rio Tinto plc
Corrs Chambers Westgarth              SAB Miller
Credit Suisse Group                   Sameer Agricultural & Livestock Ltd
Crown Agents                          SBI Capital Markets Ltd
CRU Investment Management             Shanduka Group
Dawood Hercules Chemicals Ltd         Shell International
De La Rue                             Sierra Leone Commercial Bank
Diamond Cement Company Limited        Sime Darby Berhad
Diamond Group                         Simonds Farsons Cisk plc
East African Breweries Ltd            SNC-Lavalin International
Ernst & Young LLP                     SREI Infrastructure Finance Ltd
Euro-IB Ltd                           Standard Bank
Eversheds LLP                         Standard Chartered Bank
Export-Import Bank of India           Sterling Global Capital Ltd
Fidelity Bank plc                     Sturgis Associates LLP
First Bank of Nigeria plc             Sustainable Forestry Management (SFM) Ltd
First Charnock                        Swiss Reinsurance Company
First City Monument Bank Plc          Tata Consultancy Services Ltd (TCS)
First Securities Discount House Ltd   Tata Limited
Foresight Limited                     Telekom Malaysia
Frontier Markets Fund Managers        Total S.A.
GlaxoSmithKline                       Transnet Ltd
Herbert Smith LLP                     Tullow Oil Plc
Horwath Dafinone                      Unilever
HSBC                                  Union Bank of Nigeria
ICICI Bank                            United Bank of Africa
ICO Global Communications             Usha Martin Ltd
Imperial Tobacco Limited              Virgin Atlantic Airways Ltd
Interhealth Canada Ltd                Zain
IPP Limited                           Zenith Bank

                                                                                  17
     CBC Country Partners &
     CBC Partner Organisations
             CBC Country Partners                        Commonwealth Foundation
             Australia                                   Commonwealth Local Government Forum
             Bangladesh                                  Commonwealth Secretariat
             Barbados                                    Confederation of British Industry

             Botswana                                    Confederation of Indian Industry

             Cameroon                                    Corporate Council for Africa
                                                         Durban Investment Promotion Authority
             Canada
                                                         DTI South Africa
             Ghana
                                                         European Commission
             India
                                                         Ford Foundation
             Kenya
                                                         Gauteng Economic Development Agency
             Malawi
                                                         Gujarat State Government
             Malaysia
                                                         India – Ministry of Commerce and Industry
             Malta
                                                         India – Ministry of Finance
             Mauritius
                                                         India – Ministry of Science and Technology
             Mozambique
                                                         Indian Institute of Management, Ahmedabad
             Namibia
                                                         Indian Institute of Technology, Mumbai
             Nigeria
                                                         International Finance Corporation
             Pakistan
                                                         International Telecommunications Union
             Rwanda
                                                         International Trade Centre
             Sierra Leone
                                                         Lagos State Government
             Singapore
                                                         New Partnership for Africa’s Development
             South Africa
                                                         (NEPAD)
             Sri Lanka
                                                         NEPAD Business Group
             Trinidad & Tobago
                                                         New Scotland Yard
             United Republic of Tanzania
                                                         Punjab State Government
             Uganda
                                                         Reserve Bank of India
             United Arab Emirates                        SAARC Chamber of Commerce and Industry
             United Kingdom                              SITPRO, UK
             Zambia                                      Swedish International Development Agency
                                                         Uganda Women Entrepreneurs Association
             CBC Partner Organisations                   UK Department for International Development
             Africa Union                                (DFID)
             African Development Bank                    UK Department of Trade Industry
             Australian Business Women’s Network         UK Foreign and Commonwealth Office
             Bangladesh Enterprise Institute             UK India Business Council
             Bayelsa State Government                    UK Trade & Investment
             Business Action for Africa                  UK Treasury
             Business Women’s Assoc, South Africa        UNCTAD
             Business Support Group Nigeria              UN Office of Partnerships
             Canadian Council for Africa                 Women in Business London
             Carbon Trust                                Women in Business Singapore
             City of London – Office of the Lord Mayor   World Bank
             Commonwealth Association for Public         World Tourism Organisation
             Administration and Management               World Trade Organisation

18
CBC Events
2005 - 2008
Events Calendar                        Financial Inclusion Forum             Sri Lankan Business Roundtable
2005 - 2008                            London                                London
                                       June 2007                             June 2006
Lagos State Infrastructure Workshop
London                                 G8 Africa Business Forum              Global Banking and Finance Forum
December 2008                          London                                London
                                       June 2007                             June 2006
Africa Investment Forum
Johannesburg
October 2008                           China-India-Brazil-Africa Business    Globalisation and Sustainable
                                       Forum                                 Development
East Africa International Business     Cape Town                             London
Forum                                  March 2007                            June 2006
Kigali
September 2008                         International e-Partnership           Sierra Leone Investment Forum
                                       Delhi                                 Freetown
Kenya Investment Roundtable
                                       March 2007                            March 2006
London
July 2008
                                       Global Business Leaders Forum         West Africa Investment Conference
Africa Business Forum                  Mumbai                                Nigeria
London                                 March 2007                            February 2006
July 2008
                                       West Africa Investment Forum          Modernising Governments /
Banking & Financial Services Forum     Abuja                                 E-Leaders Forum
London                                 February 2007                         London
June 2008
                                                                             December 2005
Cameroon Investment Forum              India Infrastructure Forum
Yaoundé                                Delhi                                 Commonwealth Business Forum
April 2008                             January 2007                          Malta
                                                                             22-24 November 2005
Africa Americas Asia Business Summit   South Asia Trade & Investment Forum
Mauritius                              London                                African Investment Forum
March 2008                             November 2006                         Johannesburg,
                                                                             10-12 October 2005
West Africa Investment Forum
                                       Cameroon Investment Forum
Abuja
February 2008                          Yaounde                               G8 Business Action for Africa
                                       November 2006                         London
Global Business Leaders Forum                                                5-6 July 2005
Mumbai                                 Commonwealth, Middle East Africa
February 2008                          Business Forum                        Banking and Investment Forum
                                       London                                London
Commonwealth Business Forum (CBF)      October 2006                          22-23 June 2005
Kampala
November 2007                          India Media & Entertainment Forum     India-UK Business Leaders Forum
                                       London                                London
Africa Forum                           October 2006                          21 June 2005
Lagos
October 2007                           Africa Investment Forum
                                       Johannesburg
Africa Investment Forum                October 2006
Durban
September 2007                         Africa Small Business Forum
                                       Abuja
India-UK Business Leaders Forum        July 2006
London
June 2007



                                                                                                                 19
     CBC in the Media

                                                                      UK rises to India’s largest foreign
                                                                                                           investor
                                                                      “The UK has become the biggest
                                                                                                          foreign
                                                                      investor in India, according to a repo
                                                                                                             rt on
                                                                      investment flows by the Common
                                                                                                         wealth
          The UN Food and Agriculture                     Business Council, which promotes
                                                                                              private sector
          Organisation (FAO) said in a reportt
                                         repor            opportunities in the developing worl
                                                                                               d.”
         this week that the rush to biofuels had
                                          els
         done more harm, pushpushing up
         had done more harm, ing up food
         price prices, than good by reduc
         food s, than it hasit has good by ing
         greening greenhous
         reduchouse gases. e gases.                                                                                                             Commonwealth
                                                                                                                                                bosses talk
         At the same time, the Commonwealth                                                                                                     business
         Busi monwealth Business Coun
         Comness Council (CBC), the business                                                                           Rahul Bajaj, chairman of Bajaj Auto,
                                         cil                                                                                                                 has
        arm of the busin of arm of
        (CBC),the group ess53 Commonwealth                                                                             been named co-chairman of the
                                     the
        countries, called monwealth
        group of 53 Comon member states                                                                                Commonwealth Business Council.
        finance ministers meeting in
        countries, called on member St Lucia                                                                          Bajaj Auto is one of India’s largest
                                      states              “In late October, Rwanda
        to drop ministers meeting
        finance mandatory targets forSt                                                                               family-run businesses, making the
                                  in
        biofuels….”                                       is to host an East Africa                                   country’s characteristic black and yello
                                                          International Business                                                                               w
                                                                                                                      rickshaws, as well as scooters.
                                                          Forum in partnership                                        Mr Bajaj’s appointment came as 350
                                                          with the Commonwealth                                      business people and government
                                                          Business Council,                                          representatives from throughout the
                                                          identifying itself as part                                 Commonwealth gathered in London for
                                                          of eastern rather than                                     the annual Commonwealth Business
                                                           central Africa, under the                                 Forum.
                                                           slogan “One Market, One
  Kigali — The Commonwealth Business                       Destination” for east
                                         al
  Council (CBC) East Africa Internation                    Africa’s 120m people....”
                                            to curb
  Business Forum has called for measures
  illicit trade which is undermining establishment
  of a single East Africa market.
                                           n East
  “Illicit trade is a growing menace withi
                                         included
  Africa's consumer goods market, and                                           On the shores of Lake Malawi there is
                                             ted or                                                                    an
  products which are smuggled, counterfei                                       unaccustomed sound: the hiss of sprinklers.
  undeclared local production,”                                                The sprinklers are not watering cash crops
  CBC director general, Mr.                                                                                                  for a
                                                                               distant western multinational while locals
   Mohan Kaul said.                                                            remain hungry. They are part of an exper
                                                                                                                          iment
                                                                               that combines international investment
                                                                                                                       with a
     “It undermines the investment                                            workers' co-operative. Investors have lease
     needed to improve                                                                                                     da
                                                                              huge expanse of land from the Malawian
     competitiveness and producing                                            government to establish something almo
                                           families
     the jobs and income needed to support                                    unknown in Africa: a commercial “meg
                                                                                                                        st
     and public services.”                                                                                             a-farm”
                                                                              which, as well as growing peppers for expor
                                                                                                                             t,
                                                                              produces wheat, rice and maize to feed
                                                                              Africans. It even runs a scheme to feed
                                                                                                                      the old
                                                                             and sick.
                                                                             The Commonwealth Business Council,
                                                                             working with other African governmen
                                                                                                                     ts -
                                                                             including Sierra Leone, Rwanda and
                                                                             Mozambique - is identifying land for simil
                                                                                                                          ar
                                                                             mega-farm schemes. Africa is the only
                                 Mohan Kaul,                                continent where average food production
                                                                                                                        has
                                 director-general of                        been falling for the past 40 years, with
                                          agrees: ‘Fear
the Commonw      ealth Business Council                                     countries that were once self-sufficient
                                                                                                                     now
                          awa y from India, if                              reliant on imports.
will not drive business
                           bond between the big
anything it will create a                          nce
 financial cities who   have all had their confide
                            don  and the Twin Towers
 shaken. The tube in Lon
                            iconic as the Taj hotel.
 in New York are just as
                              and Indian business
  The bond between British              down to discuss                                                                   those
              l be stronger as they sit                                                                (CBC) is one of
  leaders wil                                                                         siness Council                     ws
  deals.’....                                              The Co  mmonwealth Bu              keeps po   pping up in ne
                                                                            ganisations that                        but it remains
                                                           international or                       siness activities
                                                                            id e diversity of bu         e average busin
                                                                                                                           ess
                                                           releases on a w              n quantity to th
                                                            somethi  ng of an unknow           t exactly w hat it is,
                                                                              eet. To find ou
                                                            person in the str
                                                                             d ho  w it can be
                                                             what it does an                   mpaign
                                                                               ca’s current ca
                                                             effective in Afri                   to meet
                                                                                eration, I went
                                                             for economic lib        CBC’s director
                                                                              l, the
                                                             Dr Mohan Kau
                                                                             ief executive.
                                                              general and ch
20
                                                                                                                    “Unilever, the food and
                                                                                                                    consumer goods group,
                                                                                                   has throw  n its weight behind moves to
    Managing Director of the                                                                                                         dies. It is
                                                                                      scrap mandatory biofuel targets and subsi
    Commonwealth Business
                                                                                      backing recom    mendations being made today to
    Council, Professor Steve                                                                                                          annual
                                                                                      Commonwealth finance ministers at their
    Godfrey, says the private
                                sector                                                meeting    in St Lucia to improve food security and
   is willing to invest in the
                               creation of wealth in som                              prevent famine.
   African countries. Howev                               e                                                                         biofuels are
                               er, Godfrey says                                        Unilever is concerned that subsidies for
   institutions are looking
                             for well-structured deals                                 driving up food    prices and the cost of its products.
   support.                                            to                                                                             ealth
                                                                                       The group is a member of the Commonw
                                                                                                                                            the
                                                                                       Busin  ess Council (CBC), which is presenting
   African and international
                              business leaders have                                    recommendations to       the ministers. The CBC is
   gathered at Gallagher Est                                                                                                      the mining
                             ate, Midrand, to discuss                                  chaired by Paul Skinner, chairman of
  how African economies
                            can beat the effects of                                    group Rio Tinto    ; other members include the Indian
  impending global recess                                                                                                           Studzinski
                           ion. The event, which end
                                                      s                                 steel magnate Lakshmi Mittal and John
  today, is being hosted by
                             the Africa Investment                                      of the  private equity firm Blackstone.
  Forum 2008.                                                                                                                      s, the CBC
                                                                                        If ministers adopt the recommendation
                                                                                                                                       rts for
                                                                                        hopes that they will lobby their counterpa
                                                                                        curbs on biofu   els at the International Monetary
                                                                                                                                      ington later
                                                                                         Fund and World Bank summits in Wash
                                                                                         in the week….”




                                                Gujarat contracts
                 British firms queue up for                                                                ‘India most reformed among emerging
                                                                                                                                                       markets’
                                            tish companies will
                 A group of seventeen Bri                   in a bid
                                                                                                           A new survey by the London-based
                 meet with Ind  ian authorities tomorrow                                                   Commonwealth Business Council (CBC
                                                                                                                                                        ) has
                 to win up to $11bn (£7   .2bn) worth of                                                   revealed that India is the most refor
                                                                                                                                                  med among
                                                  the Gujarat state
                 infrastructure contracts from                                                             emerging markets due to the economic
                                                                                                                                                       reforms
                  government.                                                                              undertaken by the government.
                                              co-ordinated by the
                  The visit, which has been                 C), will
                                                                                                           According to the CBC’s biennial Busi
                                                                                                                                                     ness
                  Commonwe     alth Business Council (CB                                                  Environment Survey 2007, the avail
                                                                                                                                                  ability of
                  see companies such as    Arup, Mott McDonald                                            free-flowing funds for investment from
                                                                                                                                                       countries
                                              s meet with the state's
                   and BP Alternate Energie                         to
                                                                                                          such as India and China means acces
                                                                                                                                                   s to finance
                   controversial chie f minister, Narendra Modi,                                          is no longer a critical issue for deve
                                                                                                                                                 loping
                                                 es of public-private
                   discuss taking part in a seri                                                          countries.
                   enterprises.                                                                           Commenting on the findings CBC Direc
                                                                                                                                                       tor
                                                                                                         Mohan Kaul said, “India’s economic
                                                                                                                                                   reforms are
                                                                                                         taking place on various fronts, rangi
                                                                                                                                                ng from
                                                                                                         privatisation, deepening the financial
                                                                                                         sector, tax reform and
                                                                                                         pricing goods and
                                                                                                         commodities.

   Africa's infrastructure wa
                              s set to deteriorate
  further as investment drie
                              d up in the wake of the
  rapid global economic
                           downturn; delegates we
  told at the Africa Investm                       re                                                                                          This is really a
                              ent Forum in Midrand
 yesterday.                                                                                                                                    last attempt to
 This lack of investment
                            has caused Royal Dutch                                                                  rescue talks,  Mohan Kaul, director
 six African countries sin                           Shell to pull out of                                                                         ealth Business
 citing poor infrastructure
                            ce September, with the
                                                    oil multinational                                               general of the Commonw
                                                                                                                                                         t for $3
                             as the reason.                                                                         Counci   l whose members accoun
 Delegates at the forum,                                                                                                                 trade, said in an
and the Gauteng Econom
                           organised by the Comm
                                                   onwealth Business Counc                                           trillion in annual
                                                                                                                                                 “Some kind of
told that declining levels
                            ic Development Agenc
                                                    y, we were
                                                                          il                                         interview from London.                   r the
                            of trade with Africa cou                                                                 last-minute   stitch-up in the talks ove
infrastructure investment                            ld make                                                                                    ly; otherwise the
                            even harder to come by.                                                                   next few months is like
                                                                                                                                                 d and buried.
                                                                                                                      Doha Round will be dea




                                                                                                                       Practical Steps To An African
                                                                                                                       Renaissance - Mohan Kaul Of The
                                                                  India is planning to set up                          Commonwealth Business Council
                                                                  a special purpose vehicle                            Explains How Business Can
                                                                  (SPV) in London to meet                              Get Involved
                                                                               ture
                            the gap in the credit market to finance infrastruc                                         With Africa.
                            development, according   to Indian finance secretary Subba Rao.
                                                                      structure Investment
                            Speaking at a meeting of the India Infra               ness
                            Forum (IIIF)  organised by the Commonwealth Busi
                             Council (CBC) and the Conf   ederation of Indian Industry (CII),
                                                                    favoured destinations.
                             Rao said London was one of the most


                                                                                                                                                                      21
     CBC Photo Gallery




22
23
     CBC
     Publications
     The CBC commissions and produces                   Strengthening Local Content for
     authoritative reports on key issues affecting      Economic Development
     international trade and investment. Copies of
                                                        Enhancing Intra-African Trade
     reports are available from CBC at
     www.cbcglobal.org                                  Inclusive Banking
                                                        Private-Public Partnerships for
     2007/08                                            Infrastructure Development and
     The Kampala Papers: Transforming Societies         Capacity Building
     Commonwealth Business Forum 2007                   Tackling Counterfeit
     Food Prices and Agricultural Production in         Pharmaceuticals
     Emerging Markets – New Solutions from              Aviation Liberalisation
     Insurance
                                                        Legal Services: India
     The Implications of High Food and Energy Prices
                                                        The Malta Papers: Perspectives on
     for Economic Management - Private Sector
                                                        Globalisation Commonwealth Business
     Perspectives
                                                        Forum 2005
     Delivering Healthcare Infrastructure for the
                                                        Invest in Sierra Leone
     Millennium Development Goals
                                                        Commonwealth Business Journal –
     Meeting the MDG Challenge: Financing
                                                        Tourism Special
     Healthcare Delivery – Options for Finance
     Ministers                                          Commonwealth Business Journal –
                                                        Banking Special
     The State of Corporate Governance and
     Anticorruption in East Africa Partner States
     Improving the Investment Climate: Status and
                                                        2004/05
                                                        Innovative Private Sector Initiatives
     Proposals on the Way Forward                       to Help Achieve the Millennium
     Illicit Trade: A Threat to Sustainable Growth in   Development Goals
     the East African Community                         Commonwealth Tourism Ministers
     India-UK Trade and Investment Flows 2008           Meeting, Report
     eHealth in the Commonwealth                        Encouraging Investment Flows
                                                        and Financial Market
     Four steps to enhance intra-Africa trade
                                                        Development
     development
                                                        Banking the Unbanked
     Business Environment Survey 2007: Private
     Sector Views                                       Commonwealth Tourism Ministers Meeting,
                                                        Kuala Lumpur, Report
     2006/07                                            Commonwealth Finance Ministers
     Banking the Unbanked                               Meeting, St Kitts, Report
     Corporate Governance – CBC Guidelines and          Business Environment Survey 2005:
     Business Principles                                Private Sector Views, Report
     Private Public Partnerships for Infrastructure     Corporate Citizenship in Action:
     Leveraging Technology and Partnerships:            Volume 2 - Learning from CBC
     Transforming the Cross Border Remittance           Members’ Experience
     Industry                                           Issues in Health Sector Reform
     South Asia: Strengthening the Investment           The WTO and the Doha Round: A
     Climate                                            Compass for Trade Policy Reform,
     South Asia: Private Public Partnerships for        Growth and Development
     Infrastructure                                     Joint Action Plan for Business
     South Asia: Corporate Governance                   and Governments on Enabling
                                                        Corporate Citizenship for
     Climate Change – Private Sector Perspectives       Sustainable Development
     (Banking)


24
             Commonwealth Business Council
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Telephone: +44 (0)20 7024 8200 Fax: +44 (0)20 7024 8201
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