St John's:President John Dramani Mahama has announced initiatives to enhance economic cooperation between Africa and the Caribbean by fostering stronger trade and investment partnerships. His strategic plans involve leveraging Ghana's forthcoming African Union (AU) chairmanship to promote the African Continental Free Trade Area (AfCFTA) as a pivotal link between the two regions.
According to Ghana News Agency, President Mahama, during discussions at the Commonwealth Heads of Government Meeting in St John's, Antigua and Barbuda, emphasized Ghana's intent to prioritize specific areas during its one-year AU chairmanship, with AfCFTA being central to this agenda. He highlighted his recent visit to Jamaica, where he discussed with Prime Minister Andrew Holness the potential for linking AfCFTA with CARICOM to create a larger trading bloc.
President Mahama further elaborated on the importance of removing trade barriers between Africa and the Caribbean and advocated for direct air travel and port-to-port transit to facilitate easier trade routes. He noted ongoing discussions around labor exchange and cross-investment opportunities between the two regions.
The AfCFTA, with its headquarters in Accra, aims to establish a single market of approximately 1.4 billion people, with a collective GDP nearing $3 trillion. President Mahama envisions Ghana as a gateway for Caribbean businesses to access this market, while Jamaica and The Bahamas could serve as portals to the Caribbean and Latin America.
The engagement between President Mahama and Prime Minister Davis aligns with the Commonwealth's theme of accelerating partnership and investment, focusing on intra-Commonwealth trade and investment. Ghana is set to assume the full AU chairmanship in January 2027, with AfCFTA implementation, continental integration, and peace and security as key pillars of its leadership.