NASSAU, Bahamas – Former Prime Minister, PJ Patterson, issued a call to action to leaders at the 31st Annual Meeting of the Africa Export-Import Bank (Afreximbank) in Nassau, Bahamas.

According to a recent release, in his address to key officials from Africa and the Caribbean, Patterson emphasised the urgent need for collaborative efforts in achieving socio-economic growth and integration.

“My message simply is: time for talking, done. Time for action, now. And let us begin with this conference in Nassau,” Patterson said, noting that African and Caribbean leaders identified six areas of focus during the summit in Barbados three years ago.

“First of all, on the political level, we have to fight to change the United Nations and its structure,” he said, adding that the Security Council is the powerhouse for peace and security. When any of its members are interested, “we see the inability to act. Africa has no position at present.”

“The 54 countries of Africa, 14 countries of the Caribbean, 68 of us, we must demand that Africa has a permanent seat in the Security Council,” Patterson continued, highlighting that the two regions must also demand an overhaul of multilateral lending institutions. “They call themselves donor agencies. Donor agencies give. Donor agencies do not lend to be paid back. And our whole economic system is crooked. They create special drawing rights, and they get the bulk of them. They don’t respond sufficiently to COVID and climate change challenges.”

Also in attendance at the meeting was former Nigerian President Chief Olusegun Obasanjo, who participated in a panel discussion titled “A Time to Pause and Reflect: A Global Africa Vision for Afri-Caribbean Socio-Political and Economic Cooperation and Integration – Perspectives of Former Leaders.”

Patterson’s vision extended to transforming the remnants of the slave trade into robust trade of goods and services between Africa and the Caribbean.

“The slave trade must be converted into a trade of goods and services,” Patterson said, pointing out that Africa only accounts for three percent of world trade and the Caribbean 0.5 percent. He advocated for increased intra-regional commerce without external permissions.

“We don’t need anybody’s permission; we can trade among ourselves,” he affirmed

Emphasising the power of knowledge, Patterson stressed the importance of education and technology while asserting that knowledge and technological advancement are crucial for the region’s development.

Also making a connection between the health of the region and economic prosperity, Patterson echoed sentiments from a 1993 meeting of Caribbean leaders in Nassau, stating, “The health of our region is the wealth of our region.” He expressed concern over the delay in holding the second Africa-Caribbean summit, emphasising the importance of maintaining focus on regional development.

Both Patterson and Obasanjo underscored the significance of acting as a unified bloc.

Patterson reminisced about the success of negotiating as a single entity during the 1970s European Union negotiations, which showcased the strength of unity. He emphasised that Africa and the Caribbean must continue to act together on political, economic, and social fronts to achieve their shared goals.

Obasanjo paid tribute to Afreximbank for opening an office in the Caribbean, a historic move that symbolises the deepening ties between Africa and the Caribbean. He called for increased collaboration between the African Union and Caricom, highlighting the potential for these institutions to work together and achieve remarkable progress.

“We have to do more of what Afreximbank has done,” Obasanjo encouraged.