{"id":355594,"date":"2026-01-21T11:42:39","date_gmt":"2026-01-21T15:42:39","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=355594"},"modified":"2026-01-21T11:42:39","modified_gmt":"2026-01-21T15:42:39","slug":"study-finds-potential-for-over-1-billion-in-trade-between-african-union-and-caricom","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/study-finds-potential-for-over-1-billion-in-trade-between-african-union-and-caricom\/","title":{"rendered":"Study finds potential for over $1 billion in trade between African Union and CARICOM"},"content":{"rendered":"<figure id=\"attachment_355595\" aria-describedby=\"caption-attachment-355595\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-355595\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2026\/01\/HonourableEPChetGreene-642x817.jpg\" alt=\"\" width=\"640\" height=\"814\" \/><figcaption id=\"caption-attachment-355595\" class=\"wp-caption-text\">Honourable Chet Green. Photo; CPSO<\/figcaption><\/figure>\n<p>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).<\/p>\n<p>This development signals a significant opportunity to overhaul and strengthen supply chain networks within CARICOM, cites the CPSO.<\/p>\n<p>Antigua and Barbuda\u2019s Minister of Foreign Affairs, Trade, and Barbuda Affairs, Honourable E.P. Chet Greene, highlighted the insights from the \u201cAfrica Union-CARICOM Trade in Goods: Scope and Potential\u201d report during the opening of the AfriCaribbean Private Sector Webinar Series titled \u201cUnlocking AfriCaribbean Trade and Investment: Opportunities, Ecosystems and Private Sector Leadership\u201d on Tuesday, January 20, 2026.<\/p>\n<p>This inaugural webinar kicks off a four-part series aimed at fostering tangible trade, investment, and business collaborations between the African Union and CARICOM.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>He pointed out that rising protectionism, geopolitical tensions, and disruptions in supply chains are increasingly impacting CARICOM economies\u2014many of which rely heavily on micro, small, and medium-sized enterprises (MSMEs).<\/p>\n<p>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.<\/p>\n<p>&#8220;Political leadership establishes the framework, but it is businesses that drive innovation, generate trade volumes, mobilize investment, and create employment,&#8221; Minister Greene said. &#8220;If AfriCaribbean integration is to succeed in practical terms, it must now be carried forward by the private sector.&#8221;<\/p>\n<p>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\u2019s vulnerability to external policy shocks.<\/p>\n<p>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\u2019s full potential.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Antoine emphasized the importance of proactive private sector engagement, warning that global policy shifts require CARICOM firms to diversify and find new commercial pathways.<\/p>\n<p>&#8220;At moments like these, the role of the private sector becomes even more vital,&#8221; Dr. Antoine stated. &#8220;We must be prepared to respond with agility and seize opportunities wherever they emerge.&#8221;<\/p>\n<p>He urged businesses to confront persistent challenges\u2014such as affordability, trade concentration, and scale inefficiencies\u2014through cooperation, integration, and a focus on doing business.<\/p>\n<p>Anthony Ali, CEO of Goddard Enterprises Limited and a CPSO board member, shared practical lessons from his company\u2019s 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\u2014and vice versa.<\/p>\n<p>He stressed that successful market entry requires adaptable models like local manufacturing, licensing, and enhanced institutional support to address financial and logistical gaps.<\/p>\n<p>The event also featured remarks from Pamela Coke-Hamilton, Executive Director of ITC; Okechukwu Ihejirika, COO of Afreximbank\u2019s 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.<\/p>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"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&#8230;","protected":false},"author":13,"featured_media":355595,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[36,235,76,9,14],"tags":[],"class_list":["post-355594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-development","category-homepage-carousel","category-international-relations","category-news","category-regional"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Study finds potential for over $1 billion in trade between African Union and CARICOM - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/study-finds-potential-for-over-1-billion-in-trade-between-african-union-and-caricom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Study finds potential for over $1 billion in trade between African Union and CARICOM - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"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). 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