Afreximbank on Monday broke ground to construct a USD180 M African Trade Centre (ATC) in Bridgetown, Barbados, a development that Dr. Carla Barnett, CARICOM Secretary-General, characterised as “a prime example of cooperation in action.”
The ATC in Barbados will be the first of its kind outside Africa and will sit on more than two hectares of land made available by the government of Barbados. It marks the “establishment of a tangible expression of the new chapter in CARICOM-Africa relations,” the Secretary-General said in remarks at the ceremony. The launch event featured addresses by the Hon. Mia Amor Mottley, Prime Minister of Barbados and Chair of CARICOM and His Excellency Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank. The Hon. Dickon Mitchell, Prime Minister of Grenada was among the dignitaries at the event.
“Today’s event is a prime example of cooperation in action. Afreximbank has led the charge. Its commitment, first demonstrated by the opening of the CARICOM Afreximbank office here in Bridgetown in August 2023, has affirmed President Oramah’s message that the Bank is here to stay,” Dr. Barnett said.
She noted that Afreximbank is positioning itself to be an “active participant” in projects in Barbados and across the Region.
“The trade and exhibition centre, the digital trade gateway, the business centre and hotel, can be critical launching pads to increase innovation and growth for our Region,” the Secretary-General observed.
Afreximbank’s ongoing outreach and engagement, Dr. Barnett said, have resulted in CARICOM Member States and Regional Institutions formally signing partnership agreements to solidify their relationships with the Bank. It has also hosted three African-Caribbean Trade and Investment Forums in Barbados in 2022, in Guyana in 2023, and in The Bahamas in 2024. The fourth Forum will be held in Grenada in July this year.
“These events have been catalysts for business and investment connections across Africa, the Caribbean and the wider diaspora. They have laid a foundation for people-to-people and business-to-business contact, facilitated new trade and investment initiatives, and encouraged joint ventures towards meaningful partnerships, and mutual benefits for CARICOM and Africa,” the Secretary-General said.
Tracing the recent engagements and developments, she recalled othe first summit of CARICOM and the African Union (AU) in 2021 which recognised the need to actively pursue increased trade, investment, air travel and maritime shipping links to encourage greater economic relations and enhance people-to-people contact between CARICOM and Africa.
His Excellency Abiy Ahmed, Prime Minister of Ethiopia, will host the second CARICOM- AU Summit in Addis Ababa on 7 September 2025.
“Today’s groundbreaking ceremony symbolises the immense promise of our shared future. We will continue our strategic collaboration so that the bond between the Caribbean and Africa remains vibrant, resilient, and transformative for present and future generations,” Secretary-General Barnett said.
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Photo caption: CARICOM Secretary-General, Dr Carla Barnett (extreme left); His Excellency Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank (2nd, left); Hon. Mia Amor Mottley, Prime Minister of Barbados and Chair of CARICOM (3rd, left); Hon. Dickon Mitchell, Prime Minister of Grenada (2nd, right) and other officials
You may read the Secretary-General’s full remarks by clicking: https://caricom.org/remarks-by-caricom-secretary-general-dr-carla-barnett-one-people-one-destiny-uniting-and-reimagining-our-future-groundbreaking-ceremony-the-barbados-afreximbank-african-trade-centre/
