CARICOM Eyes Africa: A New Horizon in Trade Relations
Caribbean nations aim to expand trade opportunities with Africa, amidst uncertainties with traditional partners like the U.S., Canada, and Europe. This shift is seen as crucial given current global protectionism trends and U.S. tariffs. Strengthening Afro-Caribbean ties may lessen vulnerabilities to economic shocks and climate impacts.
Caribbean nations are making strategic moves to enhance trade relations with Africa, according to the secretary-general of their regional bloc. The push comes amid growing uncertainty with traditional partners.
Caribbean countries currently rely extensively on trade with the U.S., Canada, and Europe, regions where protectionism is on the rise. Strengthening trade ties with Africa could mark a significant economic pivot.
At an investment forum in Grenada, CARICOM Secretary-General Carla Barnett highlighted the need to increase trade with Africa, which presently accounts for less than 3% of the bloc's total trade. This comes as global economic vulnerabilities threaten the region, heavily dependent on tourism and imported goods.
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- CARICOM
- Africa
- trade
- Caribbean
- Secretary-General
- protectionism
- U.S.
- economy
- tariff
- Barnett
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