The island has great opportunities to develop closer economic links with countries throughout the Commonwealth.

That’s the view of Chief Minister Howard Quayle after he hosted a visit by Lord Marland, chairman of the Commonwealth Enterprise and Investment Council (CWEIC).

Lord Marland delivered the keynote address at a Commonwealth Business Breakfast in Douglas last week and also held discussions with government Ministers and business leaders.

The Isle of Man became a strategic partner of the CWEIC in 2017.

Mr Quayle recently travelled to London to join a number of other government leaders for the launch of the 2018 Commonwealth Business Forum.

The Isle of Man will take part in the Forum in April. It’s an event that is an integral part of the Commonwealth Heads of Government meeting, which is being held in the UK for the first time in 20 years.

Intra-Commonwealth trade was estimated at US $525 billion in 2015 and is expected to increase to US $1 trillion by 2020.

Lord Marland said: ’I have been encouraged by the response of government and business during my visit to the island and their outward-looking, entrepreneurial spirit.

’People here are switched on to the opportunities within the Commonwealth for trade and new business and I look forward to working with the Isle of Man in the future.’

As well as participating in a panel discussion as part of the Commonwealth Business Breakfast, Lord Marland gained an insight into the diversity of the island’s economy through a series of business meetings and visits to successful local companies.

The Chief Minister said: ’We must explore opportunities to build international trade partnerships to attract new investment and create jobs for our people.

’Our involvement with the CWEIC will help the Isle of Man to raise its profile across Commonwealth countries.’