by Welcome to the Caribbean Trade and Development Digest for the week of February 4-10, 2018! We are pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World. We hope you enjoy this edition.
REGIONAL
CDB reports Regional development gains in 2017 despite catastrophic Atlantic Hurricane Season
CDB: Despite major setbacks caused by a destructive 2017 Atlantic Hurricane Season, the Caribbean Development Bank (CDB) is reporting a year of several developmental gains for the Region. Read more
Positive economic growth expected for Caribbean Region in 2018, but resilience-building measures needed
CDB: The Caribbean Development Bank (CDB) is projecting regional economic growth of 2% in 2018. This follows a return to positive figures last year, during which the Region experienced overall growth of 0.6%–despite the devastation caused by the Atlantic Hurricane Season. Read more
Barbados ratifies Trade Facilitation Agreement
BGIS: Barbados has ratified the World Trade Organization’s (WTO) on Trade Facilitation Agreement (TFA). Read more
Jamaica Prime Minister Tables Report on CARICOM
JIS: Prime Minister, the Most Hon. Andrew Holness, tabled a copy of the Report of the Commission to Review Jamaica’s Relations within the CARICOM and CARIFORUM Frameworks in the House of Representatives, yesterday (February 6). Read more
CDB President announces up to US$800M for disaster recovery, amid strong Bank performance in 2017
CARICOM: President of the Caribbean Development Bank (CDB), Dr. Wm. Warren Smith, today announced that the institution is making USD700 to 800 million (mn) available to help Borrowing Member Countries (BMCs) recover from the impact of the 2017 Atlantic Hurricane Season. Read more
INTERNATIONAL
Brazil Circulates Proposal for WTO Investment Facilitation Deal
ICTSD Bridges: Brazil submitted an extensive draft proposal for a potential agreement on investment facilitation to the WTO’s General Council last week, in a bid to jumpstart more “structured discussions” on the subject. Read more
EU-Chile trade talks: Commission releases its proposals and reports about progress
EU: The Commission also published a report of the second round of talks that took place in Santiago (Chile) from 15 to 19 January 2018. These were the first substantive discussions on trade following the launch of talks in November last year. Read more
Commission imposes definitive anti-dumping duties on Chinese corrosion resistant steel
EU: The investigation confirmed that Chinese producers were dumping the product on the EU market, a finding that already led to imposition of provisional duties in August 2017. The measures that will be in place for the next 5 years range from 17.2% to 27.9%. Read more
African Leaders Prep for Summit on Continental Trade Deal
ICTSD Bridges: African national leaders concluded the 30th Ordinary Session of the Assembly of the African Union last week, with the summit adopting a series of decisions on issues related to continental economic integration – including on the next steps for the Continental Free Trade Area (CFTA), as well as the free movement of people and air travel. Read more
No blanket EU trade ban, says Mustapa
The Star: As Malaysia is an open economy, the government cannot impose a blanket ban on trade with the European Union (EU), but it can collaborate with government-linked companies to determine where to buy and sell goods amid the economic bloc’s threat to palm oil, said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.
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Mozambique joins the Economic Partnership Agreement between the EU and Southern African States
EU: Mozambique was the last piece of the SADC-EPA jigsaw to fall into place. The other five countries – Botswana, Lesotho, Namibia, South-Africa, and Swaziland – have been implementing the agreement since October 2016. Read more
Ministers admit almost 65 existing trade deals with non-EU countries are ‘at risk because of Brexit
The Independent: Ministers have admitted for the first time that about 65 existing trade deals with non-EU countries are at risk because of Brexit, it has been claimed. Read more
This doesn’t help the little guy! Trader reveals why Germans are furious at EU trade deal
The Express: The European Union has not learned lessons from its trade deal with Canada and the public will slowly start to resent Brussels bureaucrats and turn against the bloc, an expert has warned. Read more
How can East Asia defend the WTO?
East Asia Forum: A confident, rules-based environment for international trade has made possible the remarkable improvements in East Asian living standards over the past 50 years. This environment — created by the General Agreement on Tariffs and Trade (GATT) and its successor in the World Trade Organization (WTO) — remains essential for the future. But its survival cannot be taken for granted. Read more
BiH near membership in the WTO
IBNA: Bosnia and Herzegovina can reach full membership in the World Trade Organisation till summer this year, and is on the right path to finish negotiations. Read more
Bosnia and Herzegovina’s WTO accession negotiations advance towards conclusion
WTO: At the 13th meeting of the Working Party on the Accession of Bosnia and Herzegovina held on 7 February, WTO members supported the swift conclusion of the negotiations and welcomed the strong commitment and desire by Sarajevo to finalize this process in the coming months. Read more
US blocks India’s request for WTO compliance panel on solar dispute
Hindu Business Line: Moving on expected lines, the US, on Friday, blocked India’s first-time request for the establishment of a panel to settle a dispute on whether the country complied with a World Trade Organisation (WTO) ruling against domestic sourcing of solar cells and modules mandated in its national solar power generation programme. Read more
FM: Belarus has no plans to slow down WTO accession talks
BELTA: In 2017 Belarus considerably intensified the talks on joining the World Trade Organization (WTO) and is intended to keep the pace, Belarus’ Minister of Foreign Affairs Vladimir Makei said in an interview to the Russian newspaper Izvestia, BelTA has learned. Read more
Italy eyes stronger ties with ASEAN countries
Indian Express: “Italy wants to strengthen relations with ASEAN and will organise the 2nd High Level Dialogue ASEAN-Italy Economic Relations in Singapore in April,” said Foreign Minister Angelino Alfano. Read more
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