The Bahamas will host a key summit seeking to deepen trade links between Africa and the Caribbean. On April 11, 2024, the Government of the Commonwealth of The Bahamas inked an agreement with the African Export-Import Bank (Afreximbank) in which it committed to welcoming key international gatherings next year.
The third AfriCaribbean Trade and Investment Forum (ACTIF) will take place alongside the African Export-Import Bank's (Afreximbank) annual meeting from June 12-14 in Nassau.
The ACTIF initiative was launched after Afreximbank's 2021 Barbados visit, with the aim of bolstering private sector ties following that year's inaugural Africa-CARICOM summit.
The evolving series gains added importance as Professor Benedict Oramah, Afreximbank's President, notes the global economic environment is changing.
"We are in an era where some major global economies are reaching geopolitical tensions by restricting international trade to prioritise their domestic industries," Oramah said.
"This partial move away from the rules-based trading system threatens the longstanding reliance of African economies on global support for shared growth," he warned.
The Bahamas Prime Minister Philip Davis said he is determined to leverage his nation's cultural and historical ties to forge closer Africa-Caribbean connections.
"Hosting both the AAM and ACTIF demonstrates The Bahamas' commitment to leverage on the shared history, identities, and cultures of AfriCaribbean nations to forge significantly greater trade, investment, and direct transport linkages," Davis stated.
