This opening of the Africa Export and Import Bank marks the commencement of increased trade between African nations and Caribbean countries. Pierre, who spoke at the ceremony, called on his Caribbean counterparts to deepen their relationship with Africa. “This partnership agreement of the bank, which virtually comes to life today with the launching of the office in Barbados, is the signal for us in CARICOM to deepen our relations with Africa”, Pierre said at the ceremony. Pierre also stated that the Saint Lucian government remains committed to establishing deeper diplomatic relations with Africa.

The opening of the Afreximbank in Barbados follows the celebration of Emancipation Day on August 1st 2023. Pierre observed that the cooperation between CARICOM and the Bank will undo the unjust enslavement of African people for over four centuries.