Canada's Trade with Africa & Caribbean Remains Minimal Despite Diversification Policy, New Report Finds

TORONTO - Rezul -- A new report analyzing 15 years of trade data finds that Canada's engagement with Africa and the Caribbean remains minimal and starkly misaligned with its own economic diversification policy. Trade with Africa constitutes just 1% of Canada's total merchandise trade, while trade with the Caribbean is statistically negligible (0%), despite geographic proximity and significant long-term potential.

Titled Beyond the U.S.: Canada's Strategic Turn to Africa and the Caribbean, the report from the CanAfro Research Institute identifies a persistent "trust deficit" and reliance on outdated, extractive economic models as primary barriers.

"We can continue a 20th-century approach focused on extraction, or we can pioneer a 21st-century partnership built on shared capability, mutual security, and restorative justice. Our economic future and global influence depend on this choice," noted the report authors.

The analysis reveals a critical diversification paradox, where Canada's trade with these regions remains concentrated in volatile raw materials, creating dependency rather than resilient partnership. It further warns that Canada is lagging behind other global powers who have built deeper economic and strategic ties in Africa and the Caribbean.

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To address this gap, the report proposes a blueprint for a "New Covenant of Tripartite Partnership," featuring five concrete recommendations:

• Creation of a C$2-5 billion Atlantic Partnership Fund for value-added projects.
• Implementation of a 20% Local Lending Mandate for Canadian banks operating in the Caribbean.
• Legislation of a Canadian Standard for Ethical Resources for overseas projects.
• Establishment of a Diaspora-Led Africa-Caribbean Policy Centre.
• Immigration reforms, including a new "Builders Visa."

The CanAfro Research Institute is a community-driven, multidisciplinary "Think-Do" nonprofit that empowers African, Caribbean, and Black (ACB) and other underserved communities through data-driven research, advocacy, and action.

The full report, Beyond the U.S.: Canada's Strategic Turn to Africa and the Caribbean, is publicly available for download.

For Media Inquiries or Consultancy Requests:
CanAfro Research Institute
Email: contact@canafroinstitute.com
Website: https://www.canafroinstitute.com
Report Link: https://www.canafroinstitute.com/l/new-research-policy-report/