A study by the Caribbean Community (CARICOM) Private Sector Organization (CPSO) reveals that African Union (AU) exports to CARICOM could surpass US$1 billion, presenting significant opportunities to diversify Caribbean import supply chains.
Antigua & Barbuda’s Foreign Affairs Minister E.P. Chet Greene presented the findings at the AfriCaribbean Private Sector Webinar Series, “Unlocking AfriCaribbean Trade and Investment: Opportunities, Ecosystems and Private Sector Leadership.” The four-part series, organized by the International Trade Centre (ITC), African Export-Import Bank (Afreximbank), CPSO, and Africa Business Council (AfBC), drew over 200 business leaders and government ministers.
Strategic Imperative Amid Global Uncertainty
Greene emphasized that rising protectionism, geopolitical instability, and supply-chain disruptions make stronger AU-CARICOM economic ties strategically urgent. Micro, small, and medium enterprises (MSMEs), which dominate CARICOM economies, face mounting pressure from these global shifts.
“Political leadership establishes the framework, but it is businesses that drive innovation, generate trade volumes, mobilize investment, and create employment,” Greene said. “If AfriCaribbean integration is to succeed in practical terms, it must now be carried forward by the private sector.”
$1.6 Billion in Competitive Export Potential
CPSO CEO Patrick Antoine presented research identifying US$1.6 billion in competitive export opportunities from the AU to CARICOM. The analysis found that at least 13 African Union countries can each supply over US$58 million in non-mineral fuel imports at prices averaging 60 percent of current benchmarks.
Across 579 competitively priced product lines, CARICOM typically has four African Union sourcing options per product, demonstrating substantial supply depth and diversity.
Antoine stressed the importance of private sector agility: “We must be prepared to respond with agility and seize opportunities wherever they are.
We choose to engage, and to keep on engaging.”
Overcoming Barriers to Trade
Despite the potential, significant obstacles remain, including limited transport connectivity, high logistics costs, and fragmented payment systems. Greene called for innovative financing, shipping solutions, and digital payment infrastructure to unlock the partnership’s full potential.
Anthony Ali, CEO of Goddard Enterprises Limited, shared practical insights from direct African Union market engagement, noting opportunities for local production partnerships to establish CARICOM brands in Africa and vice versa. Success requires flexible models including licensing arrangements and stronger institutional support for financing and logistics.
International Trade Centre Executive Director Pamela Coke-Hamilton, Afreximbank Caribbean Office COO Okechukwu Ihejirika, and Africa Business Council President Amany Asfour all emphasized the need for enhanced business-to-business linkages and data-driven collaboration.
