Africa–CARICOM Trade Could Top US$1 Billion

Exports from the African Union to CARICOM could pass US$1 billion, according to a new study by the CARICOM Private Sector Organization (CPSO).

The study, “Africa Union–CARICOM Trade in Goods: Scope and Potential,” was presented at the opening of the AfriCaribbean Private Sector Webinar Series on Tuesday. The event brought together more than 200 business leaders, government officials, and organizations from Africa and the Caribbean to discuss trade and investment opportunities between the two regions.

Delivering the keynote address, Antigua and Barbuda’s Foreign Affairs and Trade Minister E.P. Chet Greene said the shifting global trade environment makes stronger Africa–CARICOM relations an urgent necessity.

CPSO CEO Dr. Patrick Antoine said the research shows strong potential for increased trade. The study identified more than 500 product lines competitively priced, with at least 13 African countries each capable of supplying more than US$58 million in CSME non-mineral fuel imports at prices “typically averaging 60% of current benchmarks.”

He urged CARICOM businesses to diversify their trade partners to better withstand global shifts. “We in the CARICOM Private Sector choose not to retreat. Instead, we choose to engage, and to keep on engaging,” he said.

The webinar series will continue in the coming weeks, with upcoming sessions focused on agriculture, creative industries, health, and wellness.

For Belize, the report points to new opportunities for exporters and manufacturers. As CARICOM builds closer ties with Africa, Belizean businesses could benefit from new markets and stronger trade partnerships.