Ben Riley-Smith Political Editor 19 June 2022 9:30pm BST Being a member of the Commonwealth can help boost a nation’s economy, Boris Johnson has argued as he emphasised the merits of

remaining part of the bloc ahead of a summit this week. Writing in The Telegraph, the Prime Minister said that being a member is of “immense practical value for trade” and labelled the

benefits as the “Commonwealth advantage”. Members have 21 per cent lower costs when trading with each other and investment levels that are 27 per cent higher than between non-member nations,

he said. Mr Johnson also noted forecasts that the collective GDP of Commonwealth nations will increase 50 per cent to $19.5 trillion (£16 trillion) over the next five years. The Prime

how the monarchy is viewed overseas remains unknown. Mr Johnson will travel to Rwanda this week for the Commonwealth Heads of Government Meeting. The Prince and the Duchess of Cornwall will

also attend. The Prime Minister wrote: “For all the differences between us, we are joined by an invisible thread of shared values, history and institutions and, of course, the English

language. We will meet on equal terms as old friends who know one another well. “If you retort that this all sounds vague and whimsical, and no job was ever created and no parsnip buttered

by invisible threads or shared values, I would have to point out that you are mistaken. Demonstrably and provably mistaken. “It is an amazing fact that those invisible threads – particularly

a common language and familiar legal and administrative systems – are of immense practical value for trade. Today, the ‘Commonwealth advantage’ knocks 21 per cent off the cost of trade

between members. “The same applies to investment, which is 27 per cent higher between Commonwealth nations than for other country pairs. “All of this creates a unique opportunity for Britain

whereby the Commonwealth – and only the Commonwealth – combines vast and rapidly growing markets with a real and quantified trading advantage.” The Commonwealth is made up of 54 countries

with a combined population of 2.5 billion people, roughly a third of the world’s population. As a 25-year-old, the Queen pledged to devote her life in service to the nation and the

Commonwealth, and it is unclear if the bloc will remain unified without her influence. Commonwealth country map It came amid renewed debate over the role of the monarchy in some of the 14

Commonwealth realms where the Queen is still the head of state. Last year, Barbados officially removed the Queen as its head of state and became the world’s newest republic. Last month,

Anthony Albanese, Australia’s new prime minister, created the role of “assistant minister for the republic”, raising the prospect of a referendum on the Queen remaining its head of state.

However, Mr Johnson stressed the ongoing benefits of Commonwealth membership, writing: “You only have to look at the sheer scale of economic expansion in many of the club’s biggest members

to see why the Commonwealth trade advantage is going to become ever more important for British jobs and livelihoods. “The Commonwealth’s GDP – $13.1 trillion [£10.7 trillion] – has risen by

a quarter since 2017. Over the next five years, it’s forecast to jump by close to another 50 per cent to $19.5 trillion. “Here are the growing markets for British exports that will create

jobs at home and, at the same time, ease the pressure on the cost of living.”