Afreximbank and Caribbean Export Sign Landmark MOU to Boost Africa-Caribbean Trade and Investment

  • African Export-Import Bank and Caribbean Export Development Agency sign MOU to boost trade and investment between Africa and the Caribbean
  • Collaborative initiatives to focus on capacity building, knowledge sharing, and trade facilitation for MSMEs and private sectors.
  • MOU aims to foster reciprocal investment and unlock new business opportunities across both regions.

Nassau, Bahamas – The African Export-Import Bank (Afreximbank) and the Caribbean Export Development Agency (Caribbean Export) proudly announce the signing of a Memorandum of Understanding (MOU) to enhance trade and investment flows between Africa and the Caribbean. This landmark agreement was signed on June 14, 2024, during the AfriCaribbean Trade and Investment Forum (ACTIF) and Afreximbank Annual Meeting at the Baha Mar Convention Centre in The Bahamas, marking a significant milestone in economic collaboration between the two regions.

Key Objectives and Areas of Collaboration

The MOU establishes a strategic partnership between Afreximbank and Caribbean Export to explore joint initiatives supporting their respective missions and goals. The primary areas of collaboration outlined in the MOU include:

Capacity Building and Technical Collaboration: Enhancing the capacity of African and Caribbean micro, small, and medium enterprises (MSMEs) through capacity-building initiatives and the exchange of technical expertise and knowledge.

Knowledge Sharing and Information Exchange: Facilitating the exchange of information on investment opportunities, policies, regulations, procedures, statistics, and other business data, subject to availability and internal regulations.

Trade and Investment Facilitation: Promoting reciprocal investment and export services, providing facilitation services to ensure timely project implementation, and offering guidance to potential investors and exporters in both regions.

Dr. Lynette Holder, Chair of the Caribbean Export Development Agency, was present at the ceremony, reaffirming the agency’s dedication to fostering economic ties between the Caribbean and Africa.

Mr. Leo Naut, Deputy Executive Director of the Caribbean Export Development Agency, added: “We are excited to collaborate with Afreximbank to bolster trade and investment flows between our regions. This partnership aligns perfectly with our mission to connect the vast business opportunities of Africa and the Caribbean, fostering trade and investment that drive substantial regional growth.”