Leaders Unite at ACTIF to Forge Economic Resilience Amid Global Challenges

The 4th edition of the Afri-Caribbean Trade and Investment Forum is continuing today in St. George’s, Grenada, with key leaders from Africa and the Caribbean gathering to explore enhanced economic cooperation amid global challenges.

Caribbean leaders are attending the forum, including Prime Minister Gaston Browne, Barbados Prime Minister Mia Motley, Guyana’s Prime Minister Ifran Ali, and Dominica’s Prime Minister Roosevelt Skerrit.

Prime Minister Dickon Mitchell of Grenada welcomed delegates, recognizing the vital importance of the forum in advancing trade ties that have historically remained low.
CARICOM’s trade with Africa constituted less than 3% of the bloc’s total global trade, identifying a significant opportunity for growth.

The forum also highlighted critical barriers inhibiting trade, such as limited connectivity, high tariffs on processed goods, and lack of market intelligence.

Thee operationalization of the African Continental Free Trade Area (AfCFTA) as a turning point that could unlock robust economic corridors linking Africa and the Caribbean.

A US$3 billion credit line aimed at boosting Caribbean industrial development and regional value chains, further establishing the foundation for enhanced economic relationships.

The importance of this summit was echoed by various representatives from both regions, who stressed the necessity for collaboration in navigating current global challenges.

As discussions continue, leaders remain hopeful for a renewed focus on trade and investment at the upcoming summit of Caribbean and African Union leaders.

As the forum progresses, participants will explore actionable strategies to not only strengthen historical ties but also foster a commercially viable economic partnership to ensure mutual prosperity in an interconnected world.