Ghana proposes AfCFTA expansion to Caribbean states

Ghana is proposing an expansion of the African Continental Free Trade Area (AfCFTA) to include Caribbean countries to create a broader economic market, deepen trade relations and unlock investment opportunities between the two regions.

The proposal, announced by the Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, is aimed at strengthening economic ties between Africa and the Caribbean by extending the benefits of the continental free trade arrangement beyond the African continent.

Speaking at the Commonwealth Business Forum in Antigua and Barbuda on Wednesday Mr. Ablakwa said President John Dramani Mahama had proposed expanding the AfCFTA to facilitate trade between African and Caribbean countries.

He noted that the proposal would enable both regions to move beyond their historical and cultural connections towards stronger economic cooperation that delivers jobs, business opportunities and investment.

“President Mahama is saying that let's expand it so that we don't only boost Asia-Africa trade, but we can now trade with our Caribbean brothers and sisters,” he stated.

The Minister noted that the AfCFTA, which brings together 55 African Union member states with a combined population of about 1.4 billion and a gross domestic product exceeding US$3 trillion, offered an opportunity to establish a wider market through closer partnerships with Caribbean economies.

He observed that trade among African countries and between Caribbean states remained relatively low, limiting the economic benefits that could be generated through regional cooperation.

Mr. Ablakwa said the Ministry of Foreign Affairs had begun examining the legal options for establishing an African Union-Caribbean Community (AU-CARICOM) partnership to advance the proposal.

He explained that the proposed arrangement would provide a framework for strengthening trade, investment and economic cooperation between the two regions.

The Minister cited existing initiatives, including the African Export-Import Bank's (Afreximbank) activities in the Caribbean, as evidence of the growing economic relationship between the regions.

He said the bank had invested about US$700 million in strategic projects in the Caribbean, demonstrating the opportunities available through stronger institutional and commercial partnerships.

According to him, Ghana's proposal formed part of broader efforts to reconnect Africa and the Caribbean through practical economic arrangements, including improved transportation, port cooperation and labour mobility.

He maintained that the historical relationship between the two regions should translate into economic opportunities capable of improving livelihoods and supporting development.

The African Union has designated the Caribbean Community as Africa's sixth region, providing an institutional basis for closer cooperation between the two sides.

Mr. Ablakwa said Ghana was therefore pursuing partnerships that would make the relationship more beneficial to businesses, investors and citizens across both regions.