Bridgetown, 2 September 2022 (TDI): First-ever AfriCaribbean Trade and Investment Forum (ACTIF 2022) is being held in Barbados from 1st September to 3rd September.

The forum is initiated by Export Barbados (BIDC), the African Export-Import Bank (Afreximbank), and Invest Barbados.

The theme of ACTIF 2022 is “One People. One Destiny. Uniting and Reimagining Our Future.” The purpose of this occasion is to improve ties between the private sectors of the two areas’ business sectors and promote trade and investment.

AfriCaribbean Trade and Investment Forum (ACTIF 2022)

The forum is anticipating 750 delegates from Africa and the Caribbean. The participants include representatives from both government and private sector as well as financers, partners in development, and organizations that encourage trade.

Moreover, the B2B (business-to-business) and B2G (business to government) meetings held by ACTIF 2022 will help highlight and advance opportunities for trade and investment in the AfriCaribbean region.

Forum Objectives

The following are some of ACTIF2022’s particular goals

• Promoting inter-bank relationships including fostering payment and financial flow.

• Creating cultural and creative endeavors that are commercially viable.

• Putting together a business case for a future African-Caribbean free trade area.

• Encouraging business and investment between Africa and the Caribbean by acting as a forum for market research, forming corporate alliances, exchanging trade and market data, etc.

• Promoting cross-regional economic and investment links to facilitate Afro-Caribbean investments.

• Reducing the perception of counterpart risk that African and Caribbean enterprises have while negotiating with one another.

Executive Director ITC engagements

Executive Director of International Trade Centre, Pamela Coke-Hamilton, at the opening session of ACTIF 2022 announced an ITC report, that identified a $1 billion trade potential between Africa and the Caribbean.

Moreover, she remarked that to make effective trade and ensure that it lifts all boats, both regions must cooperate.

In addition, Pamela Coke-Hamilton met with the Secretary-General of the Caribbean Community (CARICOM), Dr. Carla Barnett, to address current and potential collaboration between ITC and the Caribbean Community Secretariat.

At ACTIF 2022, the President of Africa Business Council, Dr. Amany Asfour held a meeting with Executive Director ITC to talk about the MoU between the two organizations.

Both organizations aim to assist the private sector in Africa in identifying more business prospects through the African Continent Free Trade Area (AfCFTA).

Also read: AfCFTA to Stimulate Free Trade in Africa

Moreover, Executive Director ITC also encountered the Head of Delegation of the European Union to Barbados and Eastern Caribbean, M Wasilewska to discuss ongoing collaboration between ITC and the EU in Barbados. The meeting also entailed the aspects of the collaboration that can be strengthened soon.

Executive Director ITC, Pamela Coke-Hamilton with Head of Delegation of the European Union to Barbados and Eastern Caribbean, MWasilewska.

Furthermore, Pamela Coke-Hamilton spoke to the UN Resident Coordinator for Barbados & Eastern Caribbean, Didier Trebucq about collaborating on economic diversification, access to markets, digitalization, and innovative financing for Small businesses in the Caribbean.