Exports from the African Union to CARICOM nations could surpass the $1 billion threshold, according to a recent study presented by the CARICOM Private Sector Organization (CPSO).
This development signals a significant opportunity to overhaul and strengthen supply chain networks within CARICOM, cites the CPSO.
Antigua and Barbuda’s Minister of Foreign Affairs, Trade, and Barbuda Affairs, Honourable E.P. Chet Greene, highlighted the insights from the “Africa Union-CARICOM Trade in Goods: Scope and Potential” report during the opening of the AfriCaribbean Private Sector Webinar Series titled “Unlocking AfriCaribbean Trade and Investment: Opportunities, Ecosystems and Private Sector Leadership” on Tuesday, January 20, 2026.
This inaugural webinar kicks off a four-part series aimed at fostering tangible trade, investment, and business collaborations between the African Union and CARICOM.
Organized jointly by the International Trade Centre (ITC), the African Export-Import Bank (Afreximbank), the CPSO, and the Africa Business Council (AfBC), the virtual event convened ministers, development agencies, and over 200 private sector leaders from Africa and the Caribbean to explore pathways for expanding economic ties.
In his keynote speech, Minister Greene reportedly stressed that in a changing global trade landscape, bolstering the economic relationship between Africa and CARICOM is more urgent than ever.
He pointed out that rising protectionism, geopolitical tensions, and disruptions in supply chains are increasingly impacting CARICOM economies—many of which rely heavily on micro, small, and medium-sized enterprises (MSMEs).
Greene underscored that political agreements and summits have laid a critical foundation for Africa-CARICOM cooperation, but the real momentum must now come from the private sector.
“Political leadership establishes the framework, but it is businesses that drive innovation, generate trade volumes, mobilize investment, and create employment,” Minister Greene said. “If AfriCaribbean integration is to succeed in practical terms, it must now be carried forward by the private sector.”
The press release outlined that the Minister also cited data from CPSO research indicating that the African Union possesses a broad capacity to supply a variety of goods at competitive prices. He emphasized that increasing sourcing from Africa could bolster supply chain resilience and lessen the region’s vulnerability to external policy shocks.
However, he acknowledged ongoing challenges such as limited transportation connectivity, high logistics costs, and fragmented payment systems, calling for innovative solutions in financing, shipping, and digital payments to unlock the partnership’s full potential.
Dr. Patrick Antoine, CEO and Technical Director of CPSO, anchored the discussion with market data and insights into commercial execution. His presentation revealed that the study identified a potential USD 1.6 billion in competitive export opportunities from Africa to CARICOM.
Notably, at least 13 African Union nations can supply over USD 58 million worth of non-mineral fuel imports to the Caribbean Single Market and Economy (CSME), with prices typically around 60% of current benchmarks. The study also found that out of 579 product lines identified as competitively priced, most have supply options from at least four African countries, demonstrating the depth and diversity of available sources.
Antoine emphasized the importance of proactive private sector engagement, warning that global policy shifts require CARICOM firms to diversify and find new commercial pathways.
“At moments like these, the role of the private sector becomes even more vital,” Dr. Antoine stated. “We must be prepared to respond with agility and seize opportunities wherever they emerge.”
He urged businesses to confront persistent challenges—such as affordability, trade concentration, and scale inefficiencies—through cooperation, integration, and a focus on doing business.
Anthony Ali, CEO of Goddard Enterprises Limited and a CPSO board member, shared practical lessons from his company’s direct dealings with African markets. While recognizing existing challenges, Ali pointed out significant opportunities for local production partnerships that could enable CARICOM brands to establish a presence in Africa—and vice versa.
He stressed that successful market entry requires adaptable models like local manufacturing, licensing, and enhanced institutional support to address financial and logistical gaps.
The event also featured remarks from Pamela Coke-Hamilton, Executive Director of ITC; Okechukwu Ihejirika, COO of Afreximbank’s Caribbean Office; and Dr. Amany Asfour, President of the Africa Business Council. All underscored the importance of forging stronger B2B linkages and leveraging data-driven collaboration.
The CPSO indicated that the webinar series will continue with upcoming sessions focusing on sectors such as agriculture, fashion and creative industries, cosmetics and wellness, and health technologies, further exploring opportunities for growth and partnership between Africa and the Caribbean.
CARICOM countries procure 95% of their revenue from taxes. Exports are very negligible. We produce too little of what we consume.
Agriculture – we grossly under-perform; manufacturing -we are badly deficient; agro processing – we are found wanting; public-private partnerships – disappointing
Transport and fuel affect cost of imported goods. The shipment of goods from Africa to the Caribbean is costly because of the distance and time.
These government ministers in the Caribbean are some of the best artists in the world. They paint some of the most fanciful pictures of future happenings in their countries and of the region.
No meaningful balance
I welcome the capacity to supply at competitive prices to benefit CARICOM economies. We can’t ignore our trade deficit. Cheaper imports alone, do not automatically translate into prosperity for the Caribbean. We need is similar study on strategy that prioritizes boosting Caribbean productivity, diversifying our exports, & strengthening income‑generating sectors to sustain our economies long term.
Quick‑fix revenue streams such as badly run CBI programs in their – dangerously susceptible to external policy shifts.
The truth is, governments are complacent. I see little or no investing in innovation, agriculture private sector incentives manufacturing creative industries that could secure lasting growth. If AfriCaribbean trade is to be meaningful, it must speak strongly about how the CARICOM can strengthen its own productive base, export capacity, and sustainable development pathways. Otherwise, we risk deepening dependency above achieving genuine integration.
Here we go again promoting imports to the Caribbean, “Exports from the African Union to CARICOM nations could surpass the $1 billion threshold, according to a recent study presented by the CARICOM Private Sector Organization (CPSO).”
Would it not be best for CARICOM to do a study and give us an indication of CARICOM exports to Africa, rather than promoting the potential for CARICOM to import from Africa or anywhere else for that matter?
Isn’t our import bill already too high? You cannot grow CARICOM economy through imports from outside the CARICOM but through exports! What is CARICOM doing to increase and grow CARICOM exports to the rest of the world, including to Africa? This is what we need!
DNO you start deleting my comments i notice
and doh lie and say you did not do that or say i did not post any comments
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Teeheehee! DNO tchenbay chuckkie; baway him good and proper.
And the no-face, boldface has the temerity to come back to bellyache like a little girl. Shameless! Well done, DNO.