UK Prime Minister to Push a Debt Reset and Stronger Trade at the Commonwealth Summit, Reuters Reports

British Prime Minister Andy Burnham will set out his vision for a debt reset and stronger trade with Commonwealth countries at a summit on Tuesday in Antigua and Barbuda, Reuters reported. Burnham will join King Charles and leaders from the Commonwealth's 56 member states, and will argue that the organisation can play a bigger role in tackling global challenges including climate change, economic growth and security.

The summit is likely to hear calls for slavery reparations, Reuters reported. Burnham said at the weekend he was open to calls for a formal apology for Britain's historical role in slavery, although not the payment of reparations, and his spokesman said on Monday that talks would begin in Antigua on what shape any apology could take. "We think it's right that a formal apology is discussed properly with the countries and communities most affected, rather than simply deciding unilaterally what form it should take," the spokesman said, in remarks reported by Reuters. CARICOM, the Caribbean Community, has been pushing for reparations to be on the meeting's agenda.

Burnham's office said around half of developing countries struggling with debt are in the Commonwealth, with rising global interest rates adding to the pressure, and that work to stop those countries being trapped in debt spirals must include donors outside the G7 and the private sector. He will also announce taskforces to increase investment in Commonwealth countries' critical mineral industries and reduce barriers to trade, along with £40 million ($54 million) of investments into critical infrastructure in the Caribbean over the next three years, Reuters reported.

The king will open the summit on Tuesday and is expected to mention slavery while focusing on bringing people together to tackle the challenges of today, Reuters reported. The Commonwealth comprises mostly former British colonies and encompasses some 2.7 billion people.