Marking the second event of its kind, the UK-Caribbean Trade and Investment Summit was held in London last week. Organised by UK Export Finance (UKEF), the UK’s export credit agency, the summit brought together UK and Caribbean government officials, as well as senior investors, to discuss business partnerships and financing for projects across the Caribbean.
In the year leading up to April 2024, UK exports to the Caribbean countries involved in CARIFORUM reached £2.7 billion, a substantial 36% increase compared to the previous year.
The forum highlighted the huge potential represented by trade and investment between the UK and rapidly growing Caribbean economies. UKEF is helping UK businesses access billions of pounds in financial support to win and deliver projects in the region. With expanded financing now available in countries like Jamaica, Guyana, Trinidad & Tobago, and more recently Grenada, St Lucia, and St Kitts & Nevis, UK firms have significant opportunities to enter or grow in these markets.
Several UK companies are already benefiting from UKEF’s support. For instance, Severfield Steel won a £4.5 million contract to supply materials for a hospital project in Georgetown, Guyana. In Jamaica, Lagan Construction completed a $7 million resurfacing project at Norman Manley International Airport and is now set to undertake further work in Bermuda.
