Coke-Hamilton: Need to identify business barriers for Africa’s growth

In a recent interview with CNBC Africa, Pamela Coke-Hamilton, Executive Director of the International Trade Centre, emphasized the importance of looking beyond economic imperatives and focusing on improving Africa's trade ability. The conversation delved into the significant trade opportunities between Africa and the Caribbean, highlighting the need to identify and address business barriers in order to foster growth and collaboration. Coke-Hamilton underscored the cultural and historical connections between the two regions, stressing the need for a holistic approach that considers both economic and spiritual imperatives. One of the key themes discussed was the potential for a strong Africa-Caribbean trade partnership, which could amount to a 1.8 billion dollar opportunity. Coke-Hamilton outlined five specific sectors where collaboration could thrive, including tourism, minerals, agro-processing, creative industries, and logistics. By leveraging these sectors, Africa and the Caribbean can capitalize on shared historical ties and cultural affinities to bolster trade and economic growth. Key Points: 1. Identifying Business Barriers: Coke-Hamilton highlighted the need to address specific challenges hindering trade between Africa and the Caribbean. Tariff levels, disparities between primary and processed goods, and logistical issues were identified as key barriers that need to be overcome. By reducing tariffs and streamlining trade processes, businesses can better capitalize on the immense trade potential between the two regions. 2. Sector Focus: The interview emphasized the importance of focusing on key sectors where Africa and the Caribbean have complementary strengths. From tourism and minerals to agro-processing and creative industries, there are significant opportunities for collaboration and growth. By developing these sectors jointly, both regions can tap into new markets and drive economic development. 3. Private Sector Engagement: Coke-Hamilton highlighted the crucial role of the private sector in driving Africa-Caribbean trade partnerships. With businesses showing a keen interest in exploring new trade opportunities, the focus shifts towards enabling them to capitalize on the potential benefits. Breaking down silos and fostering a competitive trading environment are essential steps in creating a sustainable and mutually beneficial partnership. Quote: As Coke-Hamilton aptly put it, “What we need to begin to do is to identify the specific barriers that need to be removed.” This statement underscores the importance of addressing challenges and fostering a conducive environment for trade between Africa and the Caribbean. Overall, the interview shed light on the progress and potential of Africa-Caribbean trade relations. By focusing on collaboration, identifying barriers, and engaging the private sector, both regions can unlock new opportunities and pave the way for sustainable economic growth and development.