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Welcome to the Caribbean Trade and Development Digest for the week of January 22-28, 2017 where we share some of the major trade and development headlines from across the Caribbean and the world.
This week was another chaotic week in world news. Dominating this week’s headlines were the series of executive actions signed by President Donald Trump in his first full week in office. See my article about this. However, another major development was the meeting between President Trump and UK Prime Minister Theresa May whose government lost its Supreme Court Article 50 Brexit this week. Some good news is that only 2 more ratifications are needed for the WTO’s Trade Facilitation Agreement to finally come into force.
Below we present the major headlines. For past issues of our weekly Caribbean Trade & Development Digest, please visit here.
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REGIONAL HEADLINES
Falklands wants trade ties with Barbados
Barbados Today: The Falkland Islands, the British Overseas Territory in South America, is on a mission to improve trading links with the Caribbean, with a special interest in Barbados. Read more
Why Trinidad, Guyana and Suriname should matter to India
Swarajya: As India seeks greater engagement on the international stage, one area where its efforts are producing limited results is Latin America. India has invested neither sufficient time nor resources in appreciating the potential that Latin America offers and its forays into the region have been hesitant and somewhat faltering. Read more
Trump could be good for Jamaica
Loop Jamaica: President Trump and his incoming government could be good for Jamaica, according to Finance Minister Audley Shaw. Read more
INTERNATIONAL HEADLINES
Nepal Ratifies the Trade Facilitation Agreement
WTO: Nepal has ratified the Trade Facilitation Agreement (TFA), making it the 108th WTO member to do so. Only two more ratifications from members are needed to bring the TFA into force. Read more
Thailand Packs Faster Conclusion of RCEP Negotiations
SGGP:The US withdrawal from the Trans-Pacific Partnership (TPP) is likely to help the Regional Comprehensive Economic Partnership (RCEP) wrap up faster than expected, said Thai Deputy Prime Minister Somkid Jatusripitak, adding that the Southeast Asian country supports faster conclusion of the regional deal, reported in Bangkok by VNS. Read more
TPP: Why the US Withdrawal Could be a Boon for China
Knowledge@Wharton: With the U.S. earlier this week pulling out from the 12-nation Trans-Pacific Partnership (TPP), that trade agreement is all but dead. Read more
France’s Holland: EU to talk trade with Pacific Alliance
VOA: French President Francois Hollande said on Monday that he would seek to bolster trade and investment with the Pacific Alliance trade bloc in joint negotiations with the European Union.Read more
Peru, Colombia vow to stand with Mexico against Trump
NY Post: Peru and Colombia vowed to stand with Mexico as the country faces an uncertain economic future and grapples with a crisis with the United States just days into U.S. President Donald Trump’s administration. Read more
Trump, Abe agree in Phone to meet in Washington next month
Bloomberg: President Donald Trump and Japanese Prime Minister Shinzo Abe agreed to hold a summit in Washington on Feb. 10 and affirmed the importance of their alliance, Abe told reporters, after the U.S. strained ties by withdrawing from a Pacific trade pact. Read more
Chile to exit TPP and seek new trade deals with Asia-Pacific Countries
CCTV: Chile announced it will exit the Trans-Pacific Partnership (TPP) trade deal, but still seek to expand trade with the Asia-Pacific region, local newspaper El Mercurio reported on Tuesday. Read more
Look to South America not US: Bolivia tells Mexico
Press TV:As Mexico-US ties sour over the new US administration’s controversial anti-immigration policies, Bolivia urges Mexico to turn to the South American countries rather than Washington, citing capitalism’s demise. Read more
UK Supreme court rules Brexit requires vote by Parliament
Washington Post: Earlier today, the Supreme Court of the United Kingdom ruled that the British government cannot initiate the “Brexit” process of leaving the European Union without first getting the approval of Parliament. Read more
Belarus Resumes WTO Membership Negotiations
WTO: WTO members welcomed the resumption of WTO membership negotiations for Belarus when the Working Party on the country’s accession met on 24 January 2017 – 12 years after its last formal meeting. Read more
Panel established in dispute over Chinese agricultural subsidies
WTO: The Dispute Settlement Body (DSB) on 25 January agreed to establish a panel to examine subsidies provided by China to domestic producers of wheat, Indica rice, Japonica rice and corn. Read more
WTO welcomes two new Appellate Body Members
WTO: Two new members of the Appellate Body, Ms Hong Zhao of China and Mr Hyun Chong Kim of Korea, were sworn in at a ceremony at WTO headquarters on 25 January 2017. Read more
NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT BLOG
A Week of Trumpism in ‘Action’
UK Government Loses Article 50 Brexit Appeal; Parliamentary Vote Needed
President Trump signs executive order pulling US out of TPP
WTO Ministers hold Informal Meeting on Davos Sidelines
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