Caribbean Trade & Development Digest – February 18-24, 2018

Welcome to the Caribbean Trade and Development Digest for the week of February 18-24, 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

Building a climate-resilient Community among matters for CARICOM 29th Inter-Sessional Meeting

CARICOM: The Caribbean Community’s push to build a more climate-resilient Community following the devastating 2017 hurricane season is among matters for deliberation by CARICOM Heads of Government at their Twenty-ninth Inter-Sessional Meeting in Port-au-Prince, Haiti, 26 – 27 February 2018. Read more 

Ralph Gonsalves: Golding Report ‘Unworkable’

Jamaica Gleaner: This is an edited address delivered on February 22 at St Vincent and the Grenadines’ Ministry of Foreign Affairs building in Kingstown. Read more 

Growing trade deficits in the Caribbean Netherlands

Netherlands Central Statistics Bureau: In 2017, the trade deficits of Bonaire, St Eustatius and Saba were higher than in the previous year. In relative terms, St Eustatius saw the sharpest increase in annual deficit. Statistics Netherlands (CBS) reports this on the basis of new figures. Read more 

World Trade Center Arkansas to Lead Trade Mission to Caribbean

Arkansas Matters: The World Trade Center Arkansas is leading a trade mission for Arkansas companies interested in exporting to Caribbean countries. The mission will go to the Trade Americas – Business Opportunities in the Caribbean Region Conference in Miami, Florida, from May 6-7. Read more 

INTERNATIONAL 

South Korea launches WTO trade challenge against U.S. duties

Reuters: South Korea has launched a wide-ranging complaint at the World Trade Organization to challenge the U.S. use of anti-subsidy and anti-dumping duties, citing their use on steel and transformers, a WTO filing showed on Tuesday. Read more 

India, 37 others seek WTO dispute body’s aid to fill up Appellate Body vacancies

Business Line: A formal submission has been made by 38 World Trade Organisation members including India, the EU, China, Russia, Brazil, Russia, Turkey and Vietnam to the Dispute Settlement Body seeking a decision on launching of a selection process to fill the three vacancies in the seven-member Appellate Body pending for long. Read more 

United States tells WTO of concerns over China’s new web access rules

Reuters: The United States told the World Trade Organization on Friday that Chinese internet access rules coming into force next month appeared to create significant new restrictions for cross-border service suppliers and should be discussed at the WTO. Read more 

Canada To Open Free Trade Talks With Mercosur Group Of South American Countries

Huffpost Canada: The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America, an official said on Friday, at a time when the future of NAFTA is facing increasing uncertainty. Read more 

India Calls for Changes in WTO to Transform World Economy

News18: India on Sunday called for bringing changes in Geneva-based World Trade Organisation (WTO) to transform the global economy. Read more 

Egypt passes 4th WTO Trade Policy Review

AllAfrica: Egypt managed to pass the World Trade Organization (WTO)’s fourth review of the trade policies and practices of Egypt that took place on February 20-22. Read more

Full text of CPTPP released

Newsroom New Zealand: The Government has released the full text of the controversial CPTPP trade deal, along with a national interest analysis touting its importance in fighting growing protectionism around the world. Read more

French farmers hold tractor protests in Mercosur warning to Macron

Independent (Ireland): French farmers drove tractors through town centres and blocked highways on Wednesday to oppose extra agricultural imports from South America, raising pressure on President Emmanuel Macron in the run-up to a politically sensitive Paris farm show. Read more 

New NAFTA talks aim to clear pathway to toughest issues

Reuters: Mexico and Canada aim to finish reworking less contentious chapters of the NAFTA trade deal with the United States in new talks beginning on Sunday, hoping to clear the path for a breakthrough on the toughest issues before upcoming elections. Read more 

NAFTA talks go into their seventh round. Canada isn’t optimistic

Washington Post: When Canadian Prime Minister Justin Trudeau visited the United States this month, he didn’t go to the White House. Instead, he visited the Ronald Reagan Presidential Library, where he was presented with pages of the original U.S.-Canada Free Trade Agreement, signed by President Ronald Reagan 30 years ago. Read more

KPMG executive says businesses not using free-trade benefits

The Australian: Australian businesses are not substantially increasing their use of the Asian free-trade agreements each year and the Coalition needs to overhaul its trade policies, a KPMG executive says. Read more 

Press release: CEPA EU – Indonesia trade agreement round

TNI: Today, over 20 representatives from civil society organisations from the Indonesia and the European union, had a long meeting with negotiators of the new trade agreement between the EU and Indonesia (CEPA – Comprehensive Economic Partnership Agreement).  Read more

Korea initiates WTO complaint against US anti-dumping, countervailing duties

WTO: Korea has requested WTO consultations with the United States concerning the use of “facts available” by US investigating authorities in anti-dumping and countervailing investigations. The request was circulated to WTO members on 20 February. Read more

WTO members agree on timetable to review use of Bali tariff quota mechanism

WTO: At a meeting of the Agriculture Committee on 20 February, WTO members agreed on a timeline to review the operation of the 2013 Bali Ministerial Decision on tariff rate quotas and discussed a review of the landmark Nairobi Decision to eliminate farm export subsidies. Norway, Israel and Canada reported they had submitted revised schedules, formalizing their promises to eliminate these subsidies. Read more

WTO issues panel report regarding Korean restrictions on Japanese food imports

WTO: On 22 February the WTO circulated the panel report in the case brought by Japan in “Korea — Import Bans, and Testing and Certification Requirements for Radionuclides” (DS495). Read more 

Trade Facilitation Agreement marks first anniversary since entry into force

WTO: The Trade Facilitation Agreement (TFA) marked its first anniversary since its entry into force on 22 February 2017 with WTO members making significant strides towards its implementation. WTO Director-General Roberto Azevêdo said members continue to work to fully implement the Agreement, which will benefit particularly developing and least developed countries. Read more

Move aside, NAFTA: New fear on the Canada-U.S. front involves steel tariffs

CTV News: A new concern about Canada’s relationship with the United States is emerging in the foreground, with threats of global steel and aluminum tariffs now competing with NAFTA uncertainty as a source of economic anxiety. Read more

Cabinet okays trade agreement with Canada

The Slovak Spectator: Slovakia’s government greenlighted the EU-Canada Comprehensive Economic and Trade Agreement (CETA) at its February 21 session. Read more 

NEW ON CTLD BLOG

US House of Representatives passes GSP Renewal Bill; on to Senate

Golding Commission concerned about Caribbean Citizenship by Investment Programmes

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