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Commonwealth conference in Malaysia to explore opportunities in services trade

5 February 2008

Experts from Commonwealth countries will meet in the Malaysian capital Kuala Lumpur this month to discuss ways of increasing Commonwealth exports of professional services.

The 19-21 February meeting, known as the Pan Commonwealth Conference on Professional Services Trade, is jointly organised by the Commonwealth Secretariat and the Government of Malaysia under the theme 'Enhancing Global Competitiveness'. It will take place at the J W Marriot Hotel.

Professional services broadly refers to all services exports except travel and tourism and is one of the most diverse and dynamic sectors worldwide. It includes services in health, education, information technology and banking, among others. While transportation and travel dominate global services trade, professional services accounted for about $1.3 trillion in 2006.

Trade in professional services has been growing at an average annual rate of 15 per cent, driven largely by developments in digital and communication technology.

“The Conference will provide a forum for sharing experiences, assessing opportunities and challenges with the aim of enhancing global competitiveness in education, health, construction, business support and ICT-enabled services,” said Ransford Smith, Commonwealth Deputy Secretary-General, who will lead the Secretariat delegation.

Malaysia’s Prime Minister is also scheduled to deliver a speech at the conference.

Mr Smith said that the conference will address key issues in regard to the global regulatory environment for professional services, competitiveness and marketing strategy.

For a number of Commonwealth member states which are small, remote and landlocked, investment in professional services trade provides the most viable option to diversify their economies, create employment and raise them out of poverty.

“As special preferences for goods exports are gradually eroded, many Commonwealth countries - particularly the smaller states - find themselves in a situation where the need to diversify their economies, create jobs and stimulate growth is more critical than before,” Mr Smith said. “And services trade provides this option.”

It is hoped that the conference will deepen innovation in different services areas, and raise awareness about the importance of the sector for national development. The Conference is targeted at senior officials from the private sector, associations, trade promotion organisations and governments from the Commonwealth. Experts and analysts from key international trade and services organisations will also be present.

The Commonwealth Secretariat through its Special Advisory Services Division has assisted a number of member countries to improve the export competitiveness of their professional services. While a few Member States have successfully positioned themselves as global providers, for many it remains a challenge. From Malta to Jamaica, Malaysia to Mauritius, the interventions have also highlighted some common drivers for success.

“There is, therefore, enough of a critical mass to draw lessons, share experiences and develop strategies for the future,” Mr Smith said.