NASSAU, Bahamas, CMC—Prime Minister Phillip Davis has described the decision of the African Export-Import Bank (Afreximbank) to hold its 2024 annual meetings here as an essential first step in Africa-Caribbean relations.
Speaking at the signing ceremony for the occasion, Prime Minister Davis said that the occasion reminds him of the profound potential buried within the diaspora he talked about during his recent visit to Botswana, where he acknowledged “a potential shaped by our collective history, a bloodline of resilience, and the shared spirit that binds the African continent and The Bahamas.
“In recognition of this new chapter in diasporic partnership, today, with immense pride, we officially sign the agreement for The Bahamas to host the African Export-Import Bank’s Annual General Meeting this coming June,” he said.
Davis said that the ancestral history of the two regions is marked by strength in the face of adversity, beauty and creativity even amid scarcity, and a relentless pursuit of self-determination.
“In the Caribbean, our forebears, who traversed the vast expanses of the Atlantic – not by choice but by force – today, unite us in a cause that is far greater than the ocean that separates us.
“Their dreams, struggles, and hopes are encapsulated in this moment, as we, their descendants, forge a future where Africa and the Caribbean stand shoulder to shoulder, not just in solidarity but in economic collaboration for mutual prosperity.”
Prime Minister Davis said that the Afreximbank’s annual meeting is a “symbol of what we can accomplish through unity.
“In today’s world, amid economic and environmental challenges, we choose collective advancement over self-preservation. Instead of building walls, we choose to build bridges of trade, innovation, financial integration, and, most importantly, bridges connecting our people and cultures.
“As we prepare to welcome the continent of Africa to our shores, we are reaffirming a vision where our economies are intertwined in support of one another, where the barriers that have historically divided us are dismantled, and where our collective strength is recognized as the tide that will lift all boats.”
He said Nassau’s commitment to this vision is underscored by the preparations to ensure the meetings serve as a forum for dialogue and a catalyst for tangible deliberations and impactful collaborations.
“We are setting the stage for discussions to aid us in navigating the challenges of our times, including climate resilience, financial inclusivity, and the digital transformation of our economies.
“Together, we are celebrating the spirit of partnership. We commemorate a union of dreams: our ancestors’ and future generations’ dreams that we pledge to realize through unity, collaboration, and mutual respect.”
Davis said that in November last year, Caribbean countries participated “in a historic moment with the African Export-Import Ban” when “we signed a document that promised to forge a future where the Caribbean and Africa moved forward cooperatively, to work toward advancing our peoples and our economies.
“The Memorandum of Understanding signed between the Government of The Bahamas and Afreximbank was the beginning of an extraordinary partnership that sees The Bahamas, as well as its sister Caribbean states, establishing a deep and meaningful collaboration with Afreximbank.
“This relationship is pioneering. It is founded on the principles of trade between us members of the Global South, a testament to our ability to work together to develop our opportunities and our solutions,” Prime Minister Davis added.
He said in keeping with its mission, Afreximbank’s commitment to expanding operations into the Caribbean by establishing the Caribbean Exim Bank is an example of the potential for development in our region.
“Afreximbank foreshadows an investment of US$700 million in the Caribbean, a bold statement of faith in our collective future. It is a future in which the Caribbean Community (CARICOM) can unlock much-needed economic and social benefits,” Davis said, adding, “As we look forward and toward the horizon, we must look beyond today’s challenges to tomorrow’s opportunities.
“This annual general meeting in The Bahamas will be remembered for the decisions made and agreements signed, but also, more significantly, as the moment when Africa and The Caribbean came together for a better future.”
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