by Welcome to the Caribbean Trade and Development Digest for the week of February 11-18, 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
Lack of financial transparency at CARICOM Secretariat – Golding Report
Antigua Observer: The lack of transparency surrounding the finances of the CARICOM Secretariat has found its way into the “Golding Report,” which examines relations between Jamaica and CARICOM and CARIFORUM, with a call for the revamping of the institution’s accountability procedures. Read more
(Caribbean) Region hits 30 million visitor mark
CTO: The catastrophic hurricanes that devastated some Caribbean destination last September slowed down tourism’s progress but did not stop it, according to figures released by the Caribbean Tourism Organization (CTO), the authority on regional tourism statistics. Read more
Gov’t explores new system to track and boost tourist spend
Barbados Today: Minister of Tourism Richard Sealy has disclosed that a new system was being developed to better capture and monitor tourist spend in Barbados as Government continued to seek ways to grow the sector. Read more
Government looks to boost CSME access for Jamaicans
JIS: The Government will be intensifying efforts for Jamaican skilled workers and businesses to have greater access to the CARICOM Single Market and Economy (CSME). Read more
Barbados trade mission to Guyana
CBC (Barbados): Barbados is hoping to increase its trade relations with Guyana as a 10-member trade mission opens a two-day visit here Monday. Read more
Holness to assume chairmanship of CARICOM
Jamaica Observer: Prime Minister Andrew Holness is to assume the Chairmanship of CARICOM from 1st July to 31st December 2018. Read more
‘Deathly afraid’ for local ownership under WTO
Tribune242: Arawak Homes’ chairman is “deathly afraid” that WTO membership will undermine Bahamian economic ownership because many locally-owned firms cannot compete internationally. Read more
SLCSI introduces new executive board
St. Lucia News Online: The Saint Lucia Coalition of Service Industries (SLCSI) is one of the twelve national service coalitions within the Caribbean Community (CARICOM) and the Dominican Republic (CARIFORUM collectively) and also the Caribbean Network of Service Coalitions (CNSC). Read more
INTERNATIONAL
Azevêdo joins ACP brainstorming session: ‘we need to explore innovative ways forward’
WTO: Speaking at a meeting of the African, Caribbean and Pacific Group of States (ACP) at the WTO’s headquarters on 15 February, Director-General Roberto Azevêdo urged members to be ready to explore fresh perspectives and new pathways which may help move negotiations forward at the WTO. Read more
Commentary: Temper expectations about RCEP free trade agreement
Channel Newsasia: It looks like India may be dragging its feet on some key issues within the Regional Comprehensive Economic Partnership but there’s good reason for all parties to manage their expectations, says one observer from the ISEAS-Yusof Ishak Institute. Read more
After the WTO’s Ministerial Conference, Where Next for Africa?
ICTSD Bridges: In the aftermath of the December WTO Ministerial Conference in Buenos Aires, pessimism about the future of the institution has been reaching record levels and no clear plan has emerged yet on where to take the WTO next. In this rather bleak environment, what are the possible options for African countries to advance their trade and development priorities? Read more
Mnuchin says Washington studying possible return to TPP through renegotiation
The Japan Times: President Donald Trump’s administration is actively discussing the possibility of rejoining the Trans-Pacific Partnership free trade deal on condition that the United States renegotiate it to secure better terms, Treasury Secretary Steven Mnuchin said Thursday. Read more
(US) House passes GSP renewal legislation
American Shipper: The U.S. House of Representatives passed H.R. 4979 Tuesday under an expedited floor procedure, which would renew the Generalized System of Preferences program through 2020. Read more
‘Big boys’ causing delays in conclusion of RCEP
Business Mirror: The Philippines is demanding its fellow negotiating-countries in the Regional Comprehensive Economic Partnership (RCEP) to seriously commit to a speedy conclusion of their trade deal, as the latest round of talks still failed to progress beyond trade in goods modalities. Read more
Next Nafta Talks Scheduled to Start With Auto Content Rules
Bloomberg: Rules for automotive content, one of the most contentious issues in Nafta, will be among the first tackled at the upcoming seventh round of talks in Mexico City. Read more
Australia says yes to post-Brexit free trade agreement with the UK
BBC: Australia say they would like to be able to negotiate a free trade agreement with the UK after Brexit. Read more
Trade growth to sustain momentum in first quarter of 2018, latest trade indicator suggests
WTO: The WTO’s latest World Trade Outlook Indicator (WTOI), released on 12 February, suggests that the trade recovery of 2017 should continue, with solid trade volume growth in the first quarter of 2018. Read more
BONUS
CTO State of the Industry Outlook
The Caribbean Tourism Organisation(CTO) held its State of the Industry 2017 and Outlook for 2018 last week. Please feel free to check out the report and other content here.
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