Africa-Caribbean trade: Barbados, Afreximbank announce first forum

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  • The forum is being organised by the government of Barbados and the African Export-Import Bank under the theme “One People, One Destiny: Uniting and Reimagining Our Future”
  • ACTIF 2022 is expected to boost the African Continental Free Trade Agreement (AfCFTA), which removes barriers to trade, creating a large business environment
  • Barbados Prime Minister Mia Amor Mottley said the first-ever forum between Africa and CARICOM would be a milestone in strengthening the relations between the two regions
The first Caribbean Trade and Investment Forum (ACTIF) will occur from August 31 to September 3, 2022, in Bridgetown, Barbados.
Barbados Prime Minister Mia Amor Mottley. Her country will host the first Africa-Caribbean trade forum. (Photo/The Dialogue).
The forum is being organised by the government of Barbados and the African Export-Import Bank (Afreximbank) under the theme “One People, One Destiny: Uniting and Reimagining Our Future”.
Other conveners are the AfCFTA Secretariat, the Africa Business Council, the CARICOM Secretariat, and the Caribbean Export Development Agency.
The conference will give business communities in Africa and those in the Caribbean Community (CARICOM) region an opportunity to develop strategic partnerships and enhance bilateral cooperation in trade, investment, technology transfer, innovation, tourism, culture, and other sectors.
Afreximbank chairman and president Benedict Oramah speaks at a past event. (Photo/African Heroes)
ACTIF 2022 is expected to boost the African Continental Free Trade Agreement (AfCFTA), which removes trade barriers, creating a large business environment. The forum will also contribute to the Caribbean trade development agenda.
Barbados Prime Minister Mia Amor Mottley said the first-ever forum between Africa and CARICOM would be a milestone in strengthening the relations between the two regions. She noted that her country signed a Memorandum of Understanding (MOU) with Afreximbank in 2021, and they were committed to implementing it.
“Barbados is of the view that the Afreximbank is a key partner for all CARICOM member states in facilitating trade and investment opportunities between Africa and the Caribbean. I am confident that ACTIF2022 will connect our peoples and result in an increased flow of goods and services between our two regions – and overall, wider cooperation,” Mottley said as quoted by the Guardian.
African business leaders at a past trade event. (Photo/Africa Up Close).
Afreximbank chairman and president Benedict Oramah explained that the upcoming forum would occur when two regions have renewed their engagements.
“The joint hosting of the first Africa-Caribbean Trade and Investment Forum is a key step towards the renaissance of the relationship between Africa and the Caribbean,” Oramah said.
Oramah noted the power of trade would reconnect Africa and CARICOM following the agreement reached between heads of states and governments on September 7, 2021.
“We thank the government of Barbados for sharing our vision and generously committing itself without hesitation to host this Forum, extending the invitation to the business communities and developmental agencies in Africa and the wider Caribbean region. We look forward to a successful forum and a renewed relationship between two regions that everything links,” Oramah added.
The forum will be attended by African and Caribbean heads of state and senior government representatives. Other participants are business leaders, representatives of business associations, development agencies, multilateral finance institutions, think tanks and research institutions from the two regions.
Between July 19 and July 22, 2022, Morocco hosted the 14th United States-Africa Summit in Marrakech.
The summit provided opportunities for the Joe Biden-led administration and its African partners to enhance their bilateral relations.
The 2022 summit was held under the theme “Building Forward Together”. For four days, stakeholders in public and private sectors explored investment opportunities amid rising inflation and the high cost of living.

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