African and Latin American leaders are seeking to deepen trade and economic ties, highlighting untapped potential between the two regions at a high-level meeting held alongside the World Trade Organization (WTO) Ministerial Conference in Yaoundé, Cameroon.

The event focused on strengthening cooperation between Africa and the Community of Latin American and Caribbean States, with officials pointing to opportunities to expand South-South trade and diversify economic partnerships.

Together, the regions represent nearly 90 countries and more than a quarter of the global population, with a combined GDP exceeding $10 trillion, ministers and other high-level government officials noted.

“This is a historic moment of trying to strengthen the links between Africa and the Community of Latin American and Caribbean States,” WTO Director-General Ngozi Okonjo-Iweala said.

She added that the initiative could help drive further growth in South-South trade, which has risen from about 10% of global trade in 1995 to around 25% today.

Despite the potential, trade flows between the regions remain limited.

Exports from Latin America and the Caribbean to Africa account for just 0.3% of global trade, while African exports to the region are almost non-existent, Okonjo-Iweala said.

Participants highlighted areas for closer cooperation, including digital trade and transport links, such as a planned maritime shipping route between Ghana and Colombia.

They also pointed to the role of WTO initiatives like the Investment Facilitation for Development Agreement in supporting investment and trade.

Colombia’s vice minister for trade, Tito Yepes, said both regions are working toward stronger connections, including links between Colombian ports and those in Ghana, Togo and Nigeria, as well as exploring passenger flights.

Mozambique’s WTO ambassador, Geraldo Goncalves Miguel Saranga, said the initiative offers an opportunity to coordinate efforts on agriculture, food security and sustainable development.

Participants also proposed regular summits to sustain dialogue and expand cooperation between the regions.

The WTO’s 14th Ministerial Conference runs from March 26 to 29.