Caribbean Trade and Development Digest: October 30-November 5, 2016

These are some of the major trade and development headlines and analysis across the Caribbean region and the world for the week of October 30-November 5, 2016. 

For past issues, please visit here.

REGIONAL

Dominican Republic certified against freight risks, illegal trade 

DominicanToday: The international certification issued by the Business Alliance for Secure Commerce (BASC) to the Dominican Republic establishes a robust system of control and security management in companies, based on risks and proactive controls to mitigate contamination of freight and illegal trade. Read more

Dominicans can benefit from Brexit’s trade possibilities

DominicanToday: UK Minister for Europe and the Americas, Alan Duncan on Friday headed a breakfast hosted  by the British Chamber of Commerce of the Dominican Republic (Britcham) where he analyzed the new post Brexit opportunities his country offers the world. Read more 

Barbados workshop to equip statisticians to better monitor CSME implementation

JamaicaObserver: Barbados will host a two-day workshop next week aimed at better equipping statisticians from across the region to measure and monitor effectively the implementation of the Caricom Single Market and Economy (CSME). Read more

INTERNATIONAL

Brexit Court Defeat for UK Government

BBC: Parliament must vote on whether the UK can start the process of leaving the EU, the High Court has ruled.This means the government cannot trigger Article 50 of the Lisbon Treaty – beginning formal exit negotiations with the EU – on its own. Read more

Paris Climate deal enters into force

BBC: The Paris agreement on climate change has come into force. Governments have agreed to keep the global temperature rise to two degrees Celsius above pre-industrial levels – and preferably 1.5 degrees. Read more

Brexit Ruling and BOE decision send pound surging

FinancialTimes: The pound soared to a four-week high on Thursday after the High Court ruled the government must seek parliamentary approval for triggering Article 50 and the Bank of England said the post-referendum economy was “notably stronger” than it expected. Read more

Will a new model investment treaty boost India’s FDI?

East Asia Forum: India’s investment regime is under stress from its new bilateral investment treaty (BIT) framework. Spurred by a flood of claims from foreign investors against India in the recent years, the new BIT framework was approved by the cabinet in December 2015 after a four-year review. Read more 

PM vows to carry out Brexit

BBC: Theresa May has vowed to carry out Brexit “in full” despite the High Court ruling on leaving the EU. The prime minister said the government needed to “get on with the job” and MPs should “accept” the referendum result. Read more

Japan Starts Process of Ratifying TPP

StraitTimes: Japan set the cogs in motion for the ratification of the 12-nation Trans- Pacific Partnership (TPP) trade treaty, with the Bill clearing its first hurdle at a special parliamentary committee on Friday. Read more 

Director-General selection process launched; Azevedo willing to serve 2nd term

WTO: General Council Chairperson, Ambassador Harald Neple of Norway, informed WTO members on 3 November of the process to appoint the WTO Director-General after the current term of office comes to an end on 31 August 2017. The incumbent Director-General, Roberto Azevêdo, confirmed his willingness to serve a second term in the role. Read more 

The White House is hoping this new argument for a trade deal with Asia will finally work

WashingtonPost: The White House on Thursday estimated that more than $5 billion in U.S. exports and millions of jobs could be threatened if Japan strikes a new trade deal with China without a similar agreement in place with the United States, part of the administration’s last-ditch efforts to push President Obama’s politically embattled plan to deepen economic ties with Asia. Read more 

Kenya, Tanzania Aim to Reset Economic Partnership

VOA: Tanzania’s president is making his first state visit to Kenya since taking office last October, in a bid to improve relations strained by economic competition. Read more

WTO issues new editions of Trade Profiles and World Tariff Profiles

WTO: The WTO issued on 2 November new expanded editions of two of its annual statistical publications, Trade Profiles and World Tariff Profiles. Read more 

Sri Lanka has its trade policy review

WTO: The fourth review of the trade policies and practices of Sri Lanka takes place on 1 and 3 November 2016. The basis for the review is a report by the WTO Secretariat and a report by the Government of Sri Lanka. Read more 

UK PM Seeks to Boost Trade Ties with India before Brexit

Reuters: British Prime Minister Theresa May will use her first bilateral trade trip since taking office to try to boost ties with India before leaving the European Union.Read more

Colombia President welcomes Brexit trade prospects

BBC: Trade between Colombia and the UK has the potential to grow after Brexit, the country’s president has suggested.Juan Manuel Santos said a new agreement could be better than Colombia’s current free trade deal with the EU.Read more

Iceland Ratifies Trade Facilitation Agreement

WTO: Iceland has ratified the Trade Facilitation Agreement (TFA), becoming the 96th member of the WTO to do so. Read more

NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT

Paris Climate Change Agreement Enters into Force: What Next?

Brexit High Court Ruling: What does it mean?