Carney pursues trade, investment at Commonwealth summit in Antigua

ST JOHN'S · Prime Minister Mark Carney is in Antigua and Barbuda for a one-day visit to the Commonwealth Heads of Government Meeting, where boosting trade and attracting investment are top priorities. The 28th biennial summit runs from Nov. 2 to 4 under the theme "Accelerating Partnerships and Investment for a Prosperous Commonwealth." Carney arrived on Monday with his wife, Diana Fox Carney, and has a full schedule of bilateral meetings and summit sessions before returning to Ottawa tonight.

Carney's itinerary includes a meeting with Antigua and Barbuda’s Prime Minister Gaston Browne and a working breakfast he is hosting for Caribbean leaders. He will also participate in two executive sessions at the meeting and hold one-on-one talks with the leaders of Australia, Guyana and Ghana. The prime minister will attend a lunch and dinner hosted by King Charles III, who is head of the Commonwealth and will address the opening ceremony on Tuesday. "In a more dangerous and divided world, Canada is drawing closer to our Commonwealth partners," Carney said in a statement. "We are turning our shared values into shared strength, expanding trade and deepening climate co-operation to build a safer, more prosperous future for our peoples." A senior government official, speaking on background during a technical briefing, said Carney has "a tremendous opportunity to engage with many other leaders to advance some of the Canadian government priorities, from deepening partnerships to looking at ways to enhance trade and investment ties and to advance trade diversification." The Commonwealth Secretariat unveiled an investment platform ahead of the summit with over 60 "high impact" projects submitted by 20 developing member countries, representing over $30 billion in potential investment. The official said the focus at this year's summit is on delivering results, including "what we can do to advance trade and investment within the Commonwealth countries, especially with smaller countries, to enhance inclusive and sustainable economic development." Canada is the Commonwealth’s second-largest financial contributor and third largest economy, behind India and the United Kingdom.

International trade lawyer Barry Appleton said the trip is a test for Carney and Canada's trade diversification strategy. "This is a test of Canada’s diversification for trade and its middle power strategy," said Appleton. "And this is one that Canada can pass. Traditionally, we were exceptionally strong with the Commonwealth." He pointed to Canada's shifting trade position closer to the U.S. and said this is an opportunity to move back towards the Commonwealth. "For Canada, the real opportunity at CHOGM is to move deals already on the table, with India, Southeast Asia and the U.K. and to modernize a one-way Caribbean preference program that the region has found hard to use," Appleton said.

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Arif Lalani, a former diplomat, noted the economic potential of the Commonwealth, citing nearly a trillion dollars in trade between member countries. "There are studies which show that it's cheaper to do business between Commonwealth countries because we have the same practices, same language, generally the same set of regulations. So it's definitely a place to pursue the economic diversification agenda," Lalani said. He added that leaders need to be more outcome-oriented on trade and agreed with Carney's efforts to expand focus to defence and security co-operation, suggesting increased maritime co-operation among member states with strong navies.

Climate change and support for small island states are also on the agenda. Canada has contributed $4.65 million over three years to the Commonwealth's climate finance access hub and made a $13-billion commitment to help developing countries adapt to climate change over the next five years. Officials said Canada hopes to amplify the voices of smaller Commonwealth partners on climate issues. "That's what actually builds the trust, and that's what ensures that Canada is seen as a reliable and a trustworthy partner that actually listens to the concerns of their partners and [is] not just forcing their own agenda onto them," said Soomin Han of the Climate Action Network.

Vandana Kattar, a former official in the prime minister's office, said Carney's multilateral approach makes sense but noted he needs to nurture relationships in the Caribbean to complete the picture. "You can't go to the Caribbean countries and not talk of climate resiliency," Kattar said. "They're the ones impacted the most." The summit's three main priorities leading up to 2030 are democratic resilience, economic resilience and environmental resilience. On democratic resilience, foreign ministers including Canada's Anita Anand met Sunday to welcome the restoration of an elected government in Gabon, which had its membership partially suspended after a 2023 military coup.

King Charles III has been touring the Caribbean in the lead-up to the summit, where he has acknowledged "the great suffering and injustices of the past" related to slavery but has not apologized. Canadian officials briefing reporters prior to the trip said Canada acknowledges the lasting impact of slavery and supports "open and respectful dialogue" on reparations, while noting a "diversity" of perspectives on the issue among members. Nicholas Marcus Thompson, an advocate for reparations for Canada's Black communities, said the U.K. government's opposition to negotiating reparations for slavery is "simply a non-starter" for Caribbean nations. This is Carney's first trip to the Caribbean as prime minister and comes amid ongoing trade tensions with the United States. Trade negotiations with the U.S. remain on a back burner while the White House focuses on American midterm elections. The Commonwealth talks are the first in a series of multilateral summits this month where Canadian officials will pursue alternative partnerships. During the summit, Carney has been invited by King Charles III to attend a ceremony to welcome new heads of government into the Commonwealth.

With files from The Canadian Press, Penticton Herald and BNN Bloomberg