Caribbean Trade and Development Digest – January 15-21, 2017

Source: Pixabay

Welcome to the Caribbean Trade and Development Digest for the week of January 15-21, 2017 where we share some of the major trade and development headlines from across the Caribbean and the world.

And what a week it was! UK Prime Minister May has finally announced her Brexit plan and the UK Supreme Court announced it will deliver its ruling in the Article 50 Brexit Appeal this coming Tuesday. Globalisation took centre-stage at the Annual World Economic Forum meeting in Davos, while  top of mind was the inauguration of US President Donald Trump who was sworn in as the US’ 45th president, and that’s just the tip of iceberg!

Below we present the major headlines. For past issues of our weekly Caribbean Trade & Development Digest, please visit here.

To receive these mailings directly to your inbox, please follow our blog.

REGIONAL HEADLINES

CARICOM optimistic of Trump’s vision

Trinidad Guardian: Caribbean states are hoping America’s new Donald Trump administration – taking over from today – will continue trade and security arrangements as well as other structures which have traditionally been in force between Caricom and the US. Read more 

Dominican Republic applies definite AD on Chinese rebar 

Steel Orbis: Dominican Republic’s Commission for Trade Defense announced it has applied a definite anti-dumping ad valorem duty on Chinese rebar. Read more

Commerce nominee Ross; No position on Cuban embargo

Washington Examiner: Wilbur Ross, the banker-turned-investor and President-elect Donald Trump’s pick to head the Commerce Department, told a Senate hearing Wednesday that he has no position yet on handling trade with Cuba. Read more 

Call for CARICOM agency to vet CIP applications

Antigua Observer: The head of a well-known citizenship advisory firm is making a call for Caribbean Citizenship by Investment Programmes (CIPs) to vet applicants through Caricom’s Joint Regional Communications Centre (JRCC). Read more 

Airbnb and Curacao sign tourism agreement

Curacao chronicle: Today, Curaçao’s Minister of Economic Development, Eugene Rhuggenaath and the Minister of Finance, Kenneth Gijsbertha, on behalf of the government, signed an important agreement with Airbnb that will help to promote Curaçao as world-class tourist destination. Read more 

UWI Lecturer calls for better CARICOM trade under Trump

Trinidad Guardian: A UWI lecturer is calling on T&T and other Caricom member states to establish a united proposal to improve and further develop trade and other relations with the United States under US President-elect Donald Trump, who takes office on Friday. Read more

Trade and investment agreement signed between Curacao and the Dominican Republic

Caribbean news now: An agreement was signed last Tuesday in the office of the consul of the Dominican Republic in Curacao; between ADECK; the Association of Small and Medium size business in Curacao and the Dutch Chamber of Commerce in the Dominican Republic.Read more

Full, frank discussion needed on CSME says Barbados PM Stuart 

Caricom Today: Prime Minister Freundel Stuart believes the time has come to have “full and frank discussions” on the CARICOM Single Market and Economy (CSME). Read more 

UN adviser for new consortium to bolster Haiti’s long term recovery 

Caricom Today: A senior United Nations adviser has called for a new “consortium” of donors to bolster Haiti’s long-term recovery. Read more

Jamaica confident about reviving pork exports to CARICOM 

Jamaica Gleaner: Jamaica’s meat companies are weighing a resumption of pork exports to Caribbean neighbours, but say it all depends on the reception from government agencies throughout the region and the harmonisation of standards. Read more 

INTERNATIONAL

Fiji Signs newest version of the MSG Free Trade Agreement

Fiji Sun: FIji Prime Minister Voreqe Bainimarama has signed the Melanesian Spearhead Group Free Trade Agreement. Read more 

Donald Trump is sworn in as president

New York Times: Donald John Trump was inaugurated as the 45th president of the United States on Friday, ushering in a new era that he vowed would shatter the established order and reverse a national decline that he called “this American carnage.” Read more

Ross prefers inking bilateral trade agreements

The Hill: Commerce Secretary-designate Wilbur Ross echoed Donald Trump’s call for bilateral trade deals instead of larger agreements where he says the United States tends to lose out. Read more 

WTO chief Warns against stumbling into trade wars

Irish Times: The world should be wary of stumbling into trade wars that would destroy jobs, World Trade Organisation director general Roberto Azevedo said on Friday. Read more

Chinese President Xi Jinping: No one can win a trade war

CNN Money: “Many of the problems troubling the world are not caused by economic globalization,” Xi said Tuesday at the World Economic Forum in Davos. “Whether you like it or not, the global economy is the big ocean you cannot escape from.” Read more

New Zealand and Sri Lanka to consider Free Trade Agreement

Reuters: New Zealand and Sri Lanka will open diplomatic posts in each other’s nations and are considering a free trade agreement, the Pacific country’s trade minister said on Friday. Read more 

Indian Cabinet approves Trade Agreement negotiations with Peru

Economic Times (India): The Indian Cabinet has approved holding negotiations for a trade agreement with Peru. Read more 

EU and US publish TTIP state of play assessment

EU: On 18 January Trade Commissioner Cecilia Malmstrom and United States Trade Representative Michael Froman published a joint assessment of the progress made in negotiations for a Transatlantic Trade and Investment Partnership (TTIP) since negotiations started in July 2013. Read more 

US Chamber of Commerce warns Trump on Trade

CNBC: Washington needs to trade with foreign markets if it wants to boost domestic growth, the U.S. Chamber of Commerce warned on Monday. Read more 

PM May Defines “Brexit means Brexit”

FRANHENDY: Today, in an address which lasted just over forty minutes, former ‘Remainer’, Prime Minister Theresa May,added some content and context to her well-worn maxim: brexit means brexit. Read more 

China’s Xi warns of Dangers of Trade War

VOA: Chinese President Xi Jinping warned governments of the dangers of a trade war while speaking at the World Economic Forum in Davos, Switzerland on Tuesday. Read more 

Ottawa Weeks away from starting free-trade talks with China

The Globe & Mail: The Trudeau government is weeks away from an inaugural round of talks on a free-trade agreement with China as it presses ahead a central objective in its plan to deepen ties with the world’s second-largest economy. Read more 

Azevedo welcomes call in Davos for progress at the WTO; urges caution on protectionism

WTO News: Attending the World Economic Forum in Davos, WTO Director-General Roberto Azevêdo welcomed the strong desire shown by ministers and the private sector for new negotiated outcomes to be delivered at the WTO’s Ministerial Conference in Buenos Aires in December this year. Read more 

Nigeria ratifies the Trade Facilitation Agreement 

WTO News: Nigeria has ratified the Trade Facilitation Agreement (TFA), making it the 107th WTO member to do so. Only three more ratifications from members are needed to bring the TFA into force. Read more 

United States files WTO complaint against Canada over measures affecting the sale of wine in stores 

WTO News: On 18 January the United States notified the WTO Secretariat that it requested WTO dispute consultations with Canada regarding measures maintained by the Canadian province of British Columbia governing the sale of wine.Read more 

Free trade talks already under way with range of non-EU countries 

Sky News: Article 50 has yet to be signed but already Theresa May has laid out her negotiating lines and has said that informal talks are already taking place about Britain’s future trade relations with the rest of the world. Read more 

France’s Hollande criticises protectionism as “worst response”

Reuters: France’s President Francois Hollande on Saturday criticized protectionism and with his Chilean counterpart said that Europe would look to strengthen ties with Latin America, speaking a day after U.S. President Donald Trump took office. Read more

RCEP more relevant now more than ever

New Strait Times:When American President-elect Donald Trump called the Trans-Pacific Partnership (TPP) agreement a “disaster” and vowed to pull out of it as soon as he took office, the international media almost instantaneously pronounced the TPP dead. Read more 

Malaysia’s move if TPPA falls through

The Star: Should the Trans-Pacific Partnership Agree­ment (TPPA) fall through, Malaysia may look into the possibility of pursuing bilateral free trade agreements (FTAs) with TPP members, said International Trade and Indus­try Minister Datuk Seri Mustapa Mohamed. Read more 

Djibouti-Ethiopia railway carries hope for Pan-African trade

Financial Times: Great article by FT discussing the prospects that the Djibouti Ethiopia railway will have for Pan-African trade. Read more 

 

BONUS

Time to solve intra-Africa trade challenges

The New Times (Rwanda): In a CNBC televised debate in Davos, Switzerland, President of Rwanda, Paul Kagame has challenged African countries to solve intra-Africa trade challenges. Read the article here and WATCH VIDEO

NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT

5 Main Points from PM May’s Davos Speech

TTIP: Joint US-EU State of Play Report Published

UK Supreme Court to deliver ruling in Article 50 Brexit Appeal next Tuesday

Why PM May’s “Hard Brexit” Choice is no surprise

President Obama Ends Three Special Parole Programs for Cuban Migrants

Liked this issue? Read past issues of our weekly Caribbean Trade & Development Digest, please visit here.To receive these mailings directly to your inbox, please follow our blog.