Last night saw the official launch of the Commonwealth Trade Initiative, an online platform designed to connect potential trade counterparties across the 53 member states, at Marlborough House. The automated business matching system will use algorithms to match relevant profiles of buyers and suppliers. Businesses from Commonwealth nations can join, and input information about the nature of their organisation such as industry, sector, and so on, as well as more sophisticated details such as possible future products. The more information and criteria a company puts in, the greater the accuracy – and the frequency – of their matches. But beyond this, but rejecting matches and providing feedback, the algorithms will self-learn to better respond to users needs.
The platform was introduced by CWEIC CEO Oliver Everett and Pierre Proner, CEO of AMPP Group – the technology company behind the platform. Lord Marland, Chairman of the CWEIC, also spoke, sharing his firm belief that, although geographically far-flung, the Commonwealth as a market was ripe for intra-group trade and reinvigoration. The Commonwealth, he pointed out, comprises a third of the world’s population, but sharing a common language, legal and civil system, love of the same top sports and even sense of humour. Cultural, regulatory and bureaucratic barriers to trade are therefore relatively low – and this platform aims to lowering remaining barriers of lack of information, time and distance.
By joining, and providing information through a guided, interactive process, members will be able to promote products and services to, unlock investment opportunities with, or otherwise seek partnerships with the tens of thousands of other members already waiting to use the platform as it went live today. To join them, simply register here. It is with great anticipation that we wait to see the fruits of this new initiative.