BREAKING NEWS

    African Export-Import Bank, Barbados Partner for Africa- Diaspora Trade Ties

    Posted On 28 Oct 2021
    By :
    Comments: 26

    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.”

     

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    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    1. Alex October 28, 2021 at 3:00 am Reply

      Time over due, beautiful beginning with our brothers and Sisters in the Caribbean. Great opportunity. Trade is the solution. Windhoek Namibia. Alex

    2. Lindy October 28, 2021 at 3:05 am Reply

      African Export-Import Bank’s MOU with Barbados another win win. The future is Afrika. Gaborone in Botswana. Lindy

    3. Kevin October 28, 2021 at 3:11 am Reply

      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

    4. george October 28, 2021 at 3:15 am Reply

      Many of these Caribbean Countries are Afrika. Working together is extremely important. Love it. Lusaka in Zambia. George

    5. Ken October 28, 2021 at 3:17 am Reply

      Richard wonderful report. Thank you and your teams. Nairobi Kenya. Ken

    6. Ahmed October 28, 2021 at 3:20 am Reply

      CARICOM as the sixth region of the African Union, makes me very happy. Many thanks for the report. Cairo Egypt. Ahmed

    7. Joseph October 28, 2021 at 3:23 am Reply

      Love my unlimited subscription with New Africa business news. Hanover in Germany. Joseph

    8. Patient October 28, 2021 at 3:26 am Reply

      Thank you for the report. Afrika is in us. We are Afrika. Patient in Kigali Rwanda

    9. Albert October 28, 2021 at 3:29 am Reply

      Thank you for the daily newsletters. Great job. Albert in Oslo, Norway

    10. Bobo October 28, 2021 at 3:44 am Reply

      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

    11. Nana October 28, 2021 at 3:47 am Reply

      Yes divide and rule is not going to work. Not now. Thank to technology. Love you technology. Accra Ghana. Nana

    12. Kim October 28, 2021 at 3:56 am Reply

      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.

    13. Salah October 28, 2021 at 4:06 am Reply

      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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