After much wait, the dates for the upcoming Commonwealth Heads of Government Meeting (CHOGM) have been announced. Rwanda will be hosting CHOGM during the week of 20 June 2022 after the much-awaited event was postponed due to Covid-19. This year’s CHOGM is going to be extremely important and critical for Commonwealth Member States especially small island states. Member States are still experiencing the effects of the global pandemic which have been intensified given the energy shortage and global supply side shock. Apart from the human tragedy, Covid has resulted into an economic catastrophe especially for small island states and developing countries. Countries that have an economic dependency on tourism, most island states, have seen their economies contract by quite a significant amount which will greatly reduce their capacity to continue investing in society and in the economy. The need for diversification has never been so urgent. Public finances, already under severe strain, have been hard-hit with debt being a main preoccupation for leaders. The public health systems have also been under a lot of strain and the global inequality in vaccination programmes have also put such countries. The pandemic has not only highlighted the inherent vulnerability but has underscored the importance as well as the limited resilience that such countries have. In addition to the global woes brought about by Covid, the impact of COP-26 will also be a key agenda item at CHOGM. With the final agreement not living up to the expectation of countries that are suffering the consequences of climate change, here again small island states primarily from the Commonwealth, action on this front needs to be stepped up. Against this backdrop, the theme for CHOGM 2022 is ‘Delivering a Common Future: Connecting, Innovating, Transforming.’ Leaders will discuss how to deliver the things which were discussed at CHOGM 2018 in London, which was on the theme ‘Towards a Common Future’. In my article, I would like to share some reflections on the theme itself and what way forward one should start planning for CHOGM to truly be a game changer. Delivering There is no doubt that the concept of delivering is going to be an important underlying theme of CHOGM. Governments had to deliver on several strategic and critical issues during the pandemic and the delivery of public services especially in a post-pandemic world is going to central to building back stronger. Here the centre of government and public services will play a key role and digital transformation can support the delivery of services. In fact, e-government needs to have a central place in any recovery plan and strategic vision for a country. Here I believe that the Commonwealth can play a catalyst role by supporting Governments in building their capacity to deliver on essential public services. Common The pandemic has shown the world how much of a common reality we face. In a matter of months, a virus in China soon brought the world to a grinding halt and the global economy to a standstill. The climate challenge is also yet another example of our commonality as a global order and human race. This commonality should support our efforts to unite and face common challenges that are abounding and are common in nature. Recognising this commonality should also support multilateral efforts in dealing with these global challenges that otherwise would be impossible to surmount should countries have to act individually. The pandemic should trigger countries even more to work together and face our true commonality as one. Future The future remains one which is volatile, uncertain, complex, and ambiguous. The future is also the main driving force that gives us hope to build better stronger. The world is changing at a fast pace and countries need to be prepared to face such challenges whilst exploiting opportunities. To truly do this, countries need to enhance both their resilience and their readiness to the future especially by future-proofing their economies and societies. The concept of future-proofing needs to play a key role in the discussions at CHOGM especially on how to enhance sustainability, inclusivity, and equality. Education remains the best weapon to face the future and to reduce inequality and poverty. Futureproofing requires resources and therefore the need of debt relief, debt restructuring and new forms of finance will also play a central part of any future-related discussions. Connecting We truly are living in a connecting world. Today not only are we living in a world were countries and humans are more connected than ever before but technology such as the Internet of Things means that even devices are connected and part of our life. This integration of technology and daily life ensures that we can be connected as never before opening realms of possibilities and opportunity for sustainability and inclusivity. The level of connectedness is highly dependent on technology. Covid has accelerated the adoption of technology by individuals, firms, and governments. For an economy that has already embraced and understood that technology will provide the right competitive advantage, the increased adoption of technology will not come as a surprise. Going forward, authorities need to ensure that the digital transformation deepens and that the vision is built around becoming a digital society whereby community life, business life and life as citizens become completely intertwined. Where possible, blockchain technology needs to be adopted by the public service to ensure an added level of trust and efficiency All economic sectors have the potential of embracing technology including agriculture and the coming together of AI, IoT and blockchain can usher in a digital revolution. This will also support the establishment of a strong innovation ecosystem which will attract start-ups as well as researchers in developing new products and services. Innovation In today’s world innovation is key. Being innovative requires a supportive ecosystem for it to develop and thrive. The world needs innovative people, firms, industries and economies to develop new solutions to our problems and challenges. The question that one will naturally ask is, what are the components for a successful ecosystem-based approach to economic design and planning? A good regulatory and legislative framework are central to any ecosystem together with the associated governance and institutional mechanisms. In our experience, we have found that building proactive and innovative regulators is critical to the long-term success of the ecosystem. Regular regulatory reviews and legislative changes to cater for new developments and trends are fundamental for a sector to remain competitive and attractive. Also, regulatory capacity building needs to be regular. In line with this, human talent is also a key pillar of any ecosystem. The power of the ecosystem to attract investment to it depends very much on the availability of skilled and required talent. Talent is nurtured by educational institutions which also need to collaborate with the private sector to develop research, development, and innovation. Clusters also thrive on access to finance as it serves as the blood for the system to grow and develop. Here, innovative financing solutions and products can enhance a sector’s attractiveness and its linkages to start-ups. Finally, the general business and market environment needs to be supportive of the ecosystem. Tax systems that are simple and attractive together with investment support schemes are fundamental building blocks. Innovation is multi-faceted and given its strategic importance it truly needs to be a key theme of CHOGM. Transforming Moving forward, the ability to transform will be they determinant between winners and losers in a globalised world. Countries need to develop the capacity to transform themselves both from a sectoral and national level. For this transformation to take place, there needs to be a supportive system that can support proactive thinking and investment to ensure that a country’s industries remain relevant and future-proof. This thinking needs to be across the country so that even on a national level, regulators and legislators truly believe that transformation is central to achieving resilience and to building back stronger. CHOGM is finally in sight. With dates set and a theme agreed to, it is imperative for countries and governments to commit to engaging in a proactive and forward-looking discussion. The challenges ahead of us are great, but so are the opportunities. The theme for this year’s CHOGM is very apt especially due to the volatile external environment we are living in. We at Seed are hopeful that this year’s CGOGM can truly act as a catalyst for countries to embark on a resilience-building programme and commit to building back stronger. We also look forward to being in Rwanda for this important event and to contribute to the discussion and debate. JP Fabri is a co-founding partner of Seed, an international research driven advisory firm with offices in Europe and the Middle East. www.seedconsultancy.com | jp@seedconsultancy.com
