Africa-Caribbean Trade Could Reach $1.65 Billion by 2030

The trade potential between Africa and the Caribbean is predicted to soar to $1.65 billion annually by 2030, per a joint report by the International Trade Centre (ITC) and Afreximbank. This excludes mineral fuels. Despite historical ties, the current trade volume is minimal compared to their combined potential.

Significant growth opportunities lie untapped, particularly in Africa's goods export to the Caribbean, with 80% of the potential yet to be realized. The Caribbean's services sector presents potential worth $481 million, spanning industries like tourism and creative services.

However, barriers such as high transport costs, limited shipping links, and inadequate access to finance persist. The report emphasizes improving market intelligence, logistics, and financial solutions to harness this trade potential effectively.