President John Dramani Mahama says Ghana will champion the expansion of the African Continental Free Trade Area (AfCFTA) to include Caribbean countries when it assumes the Chairmanship of the African Union (AU) next year.
He said the initiative would strengthen economic ties between Africa and the Caribbean by creating a larger duty-free and tariff-free trading area to promote investment, industrialisation and shared prosperity.
President Mahama announced this during a media engagement in Jamaica while responding to questions on Ghana’s priorities for its upcoming tenure as Chair of the AU.
He noted that relations between Africa and the Caribbean had deepened in recent years, particularly following the AU’s decision to recognise the Caribbean as the seventh region of Africa.
“I believe cooperation between Africa and the Caribbean has grown stronger than it was in the past,” he said.
The President explained that the AU’s recognition enabled the Caribbean Community (CARICOM) to participate in African Union meetings and discussions on issues of mutual interest.
He said Ghana would build on that development by advocating the inclusion of Caribbean countries in the AfCFTA during its AU Chairmanship.
“When Ghana assumes the Chairmanship of the African Union next year, one of the initiatives I will champion is expanding the African Continental Free Trade Area to include the Caribbean,” President Mahama said.
He noted that the AfCFTA currently provides a duty-free and tariff-free trading framework among African countries, serving a market of about 1.4 billion people with a combined gross domestic product of approximately US$3 trillion.
According to the President, extending the arrangement to the Caribbean would allow goods to move freely between Africa and the Caribbean without tariffs, creating new opportunities for businesses, exporters and investors across both regions.
President Mahama said stronger commercial relations would complement the longstanding historical, cultural and diplomatic ties between Africa and the Caribbean.
He stressed that achieving the objective would require deliberate policy interventions, improved infrastructure and efficient logistics to facilitate trade.
“We must invest in the necessary infrastructure and logistics to facilitate trade,” he said.
The President observed that the AfCFTA had already harmonised product standards among participating countries, making it easier for certified products to be traded across borders.
He cited electrical cables, transformers, iron and steel products, processed foods and pharmaceuticals as examples of goods already benefiting from the continental trading arrangement.
President Mahama also highlighted the AfCFTA digital trading platform, which links buyers and producers across participating countries, as well as ongoing efforts to establish a continental digital payment and settlement system to support cross-border trade.
He reaffirmed Ghana’s commitment to strengthening cooperation between Africa and the Caribbean through trade, investment and institutional partnerships that would generate sustainable economic benefits for both regions.
The AfCFTA, which commenced trading in 2021, is the world’s largest free trade area by the number of participating countries and seeks to boost intra-African trade, industrialisation and regional economic integration.
