The Afri-Caribbean Trade and Investment Forum opened this morning at the Georgetown Marriott Hotel bringing together hundreds of delegates from across the Caribbean and Africa.
At the opening, President Irfaan Ali called for increase trade relations between Africa and the Caribbean, explaining that such an activity between the two regions will solidify relations and correct historical wrongs.
He said while there have been blockages that have affected trade and other activities between the two regions, those hurdles have been identified and removed.
“We must be honest enough to recognize that there has been a blockage, but importantly, we must recognize that we have taken a collective decision to remove this blockage. We have identified the blockage and the challenges within this artery and we are committing to removing this blockage,” the President said.
President Ali said both regions have distinct sectors, which could be the target market for each other. But importantly, he noted that he believes that the two regions can assist in addressing long-standing issues affecting their people.
The President said the African Export-Import Bank, which is co-hosting the event, has the capacity to ensure that some of the region’s issues are addressed. He highlighted issues related to maritime transportation and its impact on trade between the Caribbean and Africa.
“We must find the solution, Afri-Exim bank has assured us that they are ready to examine a proposal from the regional private sector to present this solution. Every single state in CARICOM has made it clear that we will give all the incentives necessary to facilitate the building of the regional transport infrastructure system to solve the problem of regional transport,” the President noted.
The Afri-Exim Bank in Guyana is expected to establish a local content facilitation fund in Guyana to ensure businesses have adequate access to finance.
Prime Minister of Barbados Mia Mottley and Prime Minister of St Lucia, Phillip Pierre, who also addressed the opening ceremony spoke of the importance of the relationship between Africa and the Caribbean, pointing out that the two regions must work together to ensure that they are not decades behind the developed world in a number of sectors.
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