In a compelling address at the opening ceremony of the AfriCaribbean Trade and Investment Forum (ACTIF), CARICOM Secretary-General Dr. Carla Barnett emphasized the importance of deepening economic cooperation between the Caribbean and Africa amidst challenging global conditions.

This fourth edition of the Forum, she noted, reflects a solid commitment by regional leaders to foster trade, investment, and collaboration as highlighted during the First CARICOM-Africa Summit held in 2021.

With the theme “Resilience and Transformation: Enhancing Africa-Caribbean Economic Cooperation in an Era of Global Uncertainty,” Barnett urged participants to recognize the profound impact of current geopolitical tensions and economic challenges on inter-regional relationships.

“We need to bring focused intent on making our partnerships inclusive,” she asserted, stressing the significance of engaging young people and women in this collaborative effort.

Barnett recently attended the 32nd Annual Meetings of the African Export-Import Bank in Abuja, Nigeria, where she signed a Mandate Letter to establish a Green, Resilient and Sustainable Facility (GRSF).

“This type of global partnership is essential for fostering inclusive growth, sustainable development, and economic resilience,” she affirmed, reiterating the need for robust partnerships to meet these goals.

As the Forum sets the stage for the upcoming second CARICOM-Africa Summit in Addis Ababa, Ethiopia, scheduled for September 7, 2025, Barnett highlighted the opportunity for high-level political engagement to advance inter-regional trade and investment.

“Operationalizing our Memorandum of Understanding with the African Union Commission will be crucial in upscaling engagement with people of African descent,” she stated.

Significantly, Barnett addressed the need for mutual efforts in advocating for reparatory justice regarding the transatlantic slave trade. The designation of the African Diaspora, including the Caribbean, as the Sixth Region of the African Union reinforces the shared goal of advancing collective interests.

The Forum aims to nurture investments and facilitate bilateral cooperation in priority areas such as transportation links and technology transfer.

Barnett introduced the concept of a Caribbean Payment and Settlement System, modeled after the successful Pan-African Payment and Settlement System, which promises to streamline business transactions across regions. “There are many opportunities still to be addressed,” she noted, emphasizing a shift from policy discussions to tangible actions.
As CARICOM continues to strive for growth, Barnett called for a decisive increase in trade between the Caribbean and Africa, which currently accounts for less than three percent of overall trade.

“We must expand beyond these levels, especially amidst uncertainties with traditional trade partners,” she warned.

In ongoing efforts to enhance collaboration, CARICOM is set to finalize a Memorandum of Understanding with Afreximbank, focusing on trade, logistics, and connectivity. “Together, we can drive the partnership and strengthen economic links, bringing our two regions closer in mutually beneficial ways,” Barnett concluded.