Caribbean Export calls on the region to deepen ties and leverage greater partnerships with Africa

By Hanan Redwan Published on September 03, 2021

“The opportunities to partner with Africa and a market of an estimated 1.4 billion people are immense. As we seek to advance an agenda for the resilient Caribbean, it is important to shore up existing trade partnerships and look to new relationships on the trade and investment front. The world is changing, and so must we,” the executive director said in a recent statement where he also encouraged regional businesses, private sectors, chambers of commerce and manufacturers associations to establish relationships with their counterparts on the continent.

The Caribbean Export head said that while the entire world was reeling from the effects of the novel coronavirus pandemic with most countries and regions, including the Caribbean, showing economic contraction, recent studies done by the African Development Bank noted that real gross domestic product (GDP) for that continent is expected to grow by 3.4 per cent.

“For those who follow developments in Africa, May 2019 marked the dawn of an exciting chapter in the continent's continued ascent. It ushered in the start of the African Continental Free Trade Area with a cogent and compelling vision with Africa as one mega free trade area. Just in terms of countries participating, it is already the largest free trade area in the world given the number of states who are members,” he noted.

Maharaj said that outside of the region's historical and cultural connections, we must move to form ties that translate into economic partnerships that could redound to the benefit of parties.

“Countries such as Mozambique have been receiving record levels of foreign direct investment. Yet, whilst Asian countries led by China have been rushing to Africa, we have largely lagged in terms of pursuing an aggressive trade and investment relationship with Africa,” he stated, indicating that while some CARIFORUM countries were already pursuing export activities with Africa, this represents only a fraction of what can be realised once we make a concerted push to pursue greater relations.

In his advocacy for deeper relations, Maharaj also urged regional states to attract tourists from the continent and deepen partnerships in other service sector areas. He further called on Caribbean countries to become more proactive in building out market opportunities for their creative sectors, which have immense potential for growth based on the current popularity of Caribbean music in Africa.

“As a Caribbean person who has lived, worked and travelled across Africa, I have seen first-hand the seismic shifts taking place on the continent. We also make this pivot to Africa, investing the requisite time, effort and energy. In a rapidly changing world, bolstering our relationship with Africa is no longer an option but should be a key element of our strategy to help build Caribbean resilience,” he said, noting the work of his agency which he said has already started to reach out to its contacts in Africa.

Hanan Redwan

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