A delegation representing the Caribbean Export Development Agency (CEDA), led by Minister for Grand Bahama Ginger Moxey, visited Nigeria and Ghana recently to source opportunities for cross border trade and cooperation between the African nations and the Caribbean, Moxey told Guardian Business yesterday.

She said based on the meeting, the government will sign a memorandum of understanding with the African Export-Import Bank (Afreximbank) next week.

She explained that the Bahamas Investment Authority was represented on the trip, along with Senator Barry Griffin, deputy chair of the Bahamas Trade Commission; and the Ministry for Grand Bahama.

Moxey said they focused on introducing Grand Bahama as the gateway to the Caribbean.

"When it comes to proximity to the US, we have a major transshipment terminal, deepwater harbor, and distribution facilities. And so we are promoting Grand Bahama as really the connector to the rest of the Caribbean and the region," said Moxey.

"I was the keynote speaker in both Ghana and Nigeria on the opportunities of the Caribbean, because I was the senior minister on the mission.

"And of course, we had to say what The Bahamas and Grand Bahama has to offer in general. So, we're building relationships."

She explained that the Caribbean signed an agreement with the African Export/Import Bank last year that unlocks $1.5 billion in funding for the region.

Moxey said that in Ghana, meetings were held about the projects that "we want to work on".

"There's a lot of work to do. There's a lot of projects that I would say had been dormant for a while, and we are looking to get them going again," she said.

She said western Ghana is extremely industrial and houses manufacturing companies like Volkswagen and Caterpillar. She added that Ghana also produces bauxite, cocoa and coconuts.

"And, of course they have the labor component that's there as well," Moxey said.

"So, it's a great opportunity for business-to-business connections with Bahamian entrepreneurs and Bahamian businesses. That's one of the things we want to really push."

Moxey also explained that there are opportunities for Bahamian businesses to open companies in those countries. She said in those countries, companies can reach critical mass.

"Then you can actually produce a lot of a product where we can have value added in The Bahamas, and then have the mass production that we need for the consumers that come," said Moxey.

"You know we have a lot of tourists coming and we would be able to produce perhaps a lot more touristic products and ensure that our entrepreneurs are doing really well.

"I think there are tremendous opportunities and I'm hoping that Bahamians will take advantage of all of these opportunities that we'll present."

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