Africa Union exports to CARICOM could surpass US $1 billion dollars

BRIDGETOWN, Barbados, Exports from the African Union to CARICOM could surpass US$1 billion, according to a CARICOM Private Sector Organization (CPSO) study released this week, pointing to a major opportunity to strengthen and diversify CARICOM supply chains.

Antigua and Barbuda’s Minister of Foreign Affairs, Trade and Barbuda Affairs, E.P. Chet Greene, highlighted the CPSO report, “African Union-CARICOM Trade in Goods: Scope and Potential,” at the January 20, 2026 opening of the AfriCaribbean Private Sector Webinar Series, “Unlocking AfriCaribbean Trade and Investment: Opportunities, Ecosystems and Private Sector Leadership.”

The webinar, the first in a four-part series, is organized by the International Trade Centre (ITC), Afreximbank, CPSO, and the Africa Business Council, and brought together ministers, development institutions, and more than 200 business leaders from Africa and the Caribbean to explore practical ways to expand trade and investment.

Greene said a shifting global trade environment, including rising protectionism, geopolitical uncertainty, and supply-chain disruptions, is increasing pressure on CARICOM economies, where MSMEs make up most businesses. He noted that while political agreements have built momentum through successive Africa-CARICOM Summits and ACTIF, the next phase must be driven by business, arguing that companies are the ones that generate trade volumes, mobilize investment, and create jobs.

CPSO CEO and Technical Director Dr. Patrick Antoine presented the study’s findings, identifying up to US$1.6 billion in potential competitive export opportunities from the African Union to CARICOM. He said the analysis shows at least 13 African Union countries could each supply more than US$58 million in CSME non-mineral fuel imports at prices averaging about 60 percent of current benchmarks. Across 579 competitively priced product lines, the study found CARICOM typically has about four African Union sourcing options per product, highlighting both depth and diversity in supply.

Greene and Antoine both noted persistent barriers, including limited transport links, high logistics costs, and fragmented payment systems, and called for innovation in financing, shipping, and digital payments. Antoine urged CARICOM firms to act with speed as global policies shift in major markets, while Goddard Enterprises CEO Anthony Ali shared lessons from doing business in African Union markets and pointed to opportunities for local production partnerships, licensing arrangements, and stronger institutional support to address financing and logistics gaps. ITC Executive Director Pamela Coke-Hamilton, Afreximbank Caribbean Office COO Okechukwu Ihejirika, and Africa Business Council President Dr. Amany Asfour also emphasized the need for stronger business-to-business linkages and data-driven collaboration.

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