UK PM to raise debt reset and trade at Commonwealth summit

ST JOHN'S, Antigua and Barbuda, Nov 2 (Reuters) - 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 that is likely to hear calls for slavery reparations.

Burnham will join King Charles and leaders from the Commonwealth's 56 member states in Antigua and Barbuda, where he will argue that the organisation can play a bigger role in tackling global challenges including climate change, economic growth and security.

Charles, symbolic head of the grouping, has during a week-long visit to the Caribbean sought to acknowledge "the great suffering and injustices of the past" without going so far as to issue a formal apology for slavery, sticking with the British government's long-term approach.

But 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. 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.

Both Burnham and the king are, however, likely to stress what more the Commonwealth, which comprises mostly former British colonies and encompasses some 2.7 billion people, can do to strengthen the smaller members.

Burnham's office said around half of developing countries struggling with debt are in the Commonwealth, with rising global interest rates exacerbating the pressure they face.

Work to stop those countries from being trapped in debt spirals must include donors outside the G7 club of rich economies, as well as the private sector, Burnham will say on Tuesday.

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.

The king will open the summit on Tuesday and, while he is expected to mention slavery, he will also focus on bringing people together to tackle the challenges of today.

"His Majesty's most significant contribution has been helping to connect leaders, institutions and investors ... around shared areas of interest and concern," a palace spokesperson said.

That is unlikely to appease some member countries, including CARICOM, the Caribbean Community, a group of 23 member and associate member states including the Bahamas, Barbados and Jamaica, which has been pushing for reparations to be on the meeting's agenda.

From the 15th to the 19th century, at ​least 12.5 million Africans were abducted and sold into slavery ​by European traders, with Britain transporting an estimated 3.2 million people across the Atlantic, making it one of the biggest slave-trading nations, according to the Transatlantic Slave Trade Database.

($1 = 0.7453 pounds)

(Reporting by Isabel Infantes and Yoruk Bahceli, writing by Sarah Young; Editing by Nia Williams)