Sir Alan Collins, director general and chief executive of the Commonwealth Business Council paid a courtesy call on Marilyn Zonicle, Undersecretary in the Ministry of Foreign Affairs, Head Multilateral Relations/Organisations (Political Division), at the Ministry of Foreign Affairs, May 7, 2012.

Sir Alan Collins, director general and chief executive of the Commonwealth Business Council paid a courtesy call at the Ministry of Foreign Affairs in The Goodman’s Bay Corporate Centre May 7, 2012. Pictured are Marilyn Zonicle, Undersecretary in the Ministry of Foreign Affairs, Head Multilateral Relations/Organisations (Political Division), and Sir Alan. (BIS Photo/Kristaan H A Ingraham II)

During the courtesy call Sir Alan explained the importance of the Commonwealth Business Council.

He said the council could help Commonwealth countries with creating and maintaining business opportunities, as a third of the world’s population is in the Commonwealth, and 20 per cent of the world’s trade flows are between Commonwealth countries.

“A study by Reading University shows that the cost of doing business between Commonwealth countries is 20 per cent less than doing business with non-Commonwealth countries,” he added.

Sir Alan explained that the advantages stem from the fact that the rules of law, the system and the language are all the same, making it much easier for Commonwealth countries to do business with each other.

He said every time there is a Commonwealth Heads of Government Meeting, the Commonwealth Business Council organizes a business forum.

The most recent forum was held in Perth, Australia in October 2011.

Sir Alan said 1,400 businesses attended the forum, including 80 Chinese companies.

Numerous Heads of State, Trade Ministers, Foreign Ministers, captains of industry, and two Nobel Prize Winners spoke at the event.

During his visit to The Bahamas, Sir Alan also paid a courtesy call on Governor General Sir Arthur Foulkes, and met with the chairman of the Grand Bahama Port Authority (GBPA), Ian Fair, to talk about the possibility of the GBPA working together with the council on projects surrounding port development.