President Ali presses for enhancement of CARICOM-Canada trade relations

By Svetlana Marshall

At the ongoing Canada-CARICOM Summit in Ottawa, President Irfaan Ali has indicated that the summit provides an opportunity for CARICOM and Canada to discuss important issues and look at ways to improve trade and other relations.

In an address at the opening of the summit on Wednesday, Mr. Ali said while challenges that face the region must be examined, issues related to trade and investment must also be discussed openly and addressed.

“Trade forms the core of our development strategy, and our foremost focus lies on enhancing our trade and investment connections with key partners especially Canada,” President Ali said.

The President also said that the Canada-CARICOM partnership has been characterised by shared principles of democracy, the rule of law, and the maintenance of peace.

Canada has long-standing ties with many CARICOM countries on a wide range of shared priorities, including trade, security and defence, international assistance and governance.

The Summit builds on the work that Canada has been doing to strengthen ties with the region.

More than two million Canadians travel to CARICOM countries annually and over 10,000 students from CARICOM study in Canada every year.

In 2022, Canada’s two-way merchandise trade with CARICOM countries reached $1.8 billion. In

2021, bilateral trade in services reached $3.9 billion.

Meanwhile, the President also noted that there is much to learn from the CARICOM-Canada relationship. He praised Canada for its support and leadership over the years on regional and global issues, and also noted that CARICOM and Canada must always stand on the right side of justice globally.

“Indeed, our concern is not just the development and prosperity of our region and Canada. Our concern is about better conditions for all of humanity. Our concern is about peace for all of humanity. Our concern is about justice, equity. Our concern is about the removal of hate. Our concern is to end war with peace all across the world,” the Guyanese Head of State said.

The summit is being held at a time when the world is inflicted with conflicts and wars, from the Russian-Ukraine war in Europe to the Israel-Hamas conflict in the Middle East.