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African Export-Import Bank, Barbados Partner for Africa- Diaspora Trade Ties
Posted On 28 Oct 2021
By Richard Adorsu-
Mia Mottley, Prime Minister of Barbados
Photo Credit: Loop Barbados News
NEW AFRICA BUSINESS NEWS (NABN) Accra GHANA – The African Export-Import Bank (Afreximbank) and the Government of Barbados have signed a Memorandum of Understanding (MoU) to expand trade and investment links between Africa and the Caribbean island state.
Under the MoU, the two parties will explore opportunities for joint investment and trade finance aimed at expanding economic ties between Africa and Barbados. The agreement will also facilitate knowledge sharing between Afeximbank and the Government of Barbados, providing businesses and investors on either side of the Atlantic with higher quality information with which to pursue trade and investment opportunities.
Benedict Oramah, President of Afreximbank said, “Cooperation among nations of the global south can become an engine of growth and prosperity. The economies of African nations and Barbados share a common heritage, entrepreneurial drive and opportunities. By coming together Afreximbank and the Government of Barbados will harness the power of trade to create new jobs, scale up new industries, and reap the benefits of a rich exchange in goods, services, and culture between Africa and Barbados.”
This knowledge sharing will include collaborative use of electronic platforms for customer due diligence, payments, trade exchanges, trade information, and regulatory details. Afreximbank will also consider putting in place a financial facility in an amount of $250 million to support trade and investment exchange. The agreement is set to increase the flow of goods and services while enhancing connectivity between African nations and Barbados. The two parties will actively promote coordinated development and trade finance from both public and private sectors.
Meawhile, they will work in concert to advance air, sea, and telecommunication links, as well as cultural exchange between Africa and Barbados.
Mia Amor Mottley, Prime Minister of Barbados said, “We are committed to being able to ensure the trade of goods, the movement of people and services, and the flow of information. We believe that once trade information flows, once people, goods and services flow seamlessly, then we can reconnect and make the embodiment of CARICOM as the sixth region of the African Union real for all of us.”
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
Time over due, beautiful beginning with our brothers and Sisters in the Caribbean. Great opportunity. Trade is the solution. Windhoek Namibia. Alex
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African Export-Import Bank’s MOU with Barbados another win win. The future is Afrika. Gaborone in Botswana. Lindy
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The newly implemented free trade in our great Continent, should also include the Caribbean Countries. Thank you for the report. Kevin in Cape town SOUTH AFRICA
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Many of these Caribbean Countries are Afrika. Working together is extremely important. Love it. Lusaka in Zambia. George
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Richard wonderful report. Thank you and your teams. Nairobi Kenya. Ken
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CARICOM as the sixth region of the African Union, makes me very happy. Many thanks for the report. Cairo Egypt. Ahmed
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Love my unlimited subscription with New Africa business news. Hanover in Germany. Joseph
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Thank you for the report. Afrika is in us. We are Afrika. Patient in Kigali Rwanda
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Seeing all these great developments happening all over Africa. Makes me happy. Makes me cry when I heard our great continent is going to start detail family relation, with extensive trade relation with our Caribbean brothers and sisters. I asked my self why this long. Marcus Garvey’s dream is finally here. I said to me divide and rule is not going to work now. Thank you, Allah, the almighty. The creator. Bamako Mali. Fanta
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Yes divide and rule is not going to work. Not now. Thank to technology. Love you technology. Accra Ghana. Nana
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As yourself what you doing for Afrika. Do your part, focus is the key and focus is happening. Invest in Afrika. Love your daily newsletters. Bissau Guinea Bissau.
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Thank you God for waking us up. May you protect our leaders from the devils and make Afrika great again. Many happy days ahead. Dakar in Senegal. Salah
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