by Welcome to the Caribbean Trade & Development Digest for the week of June 24-July 1, 2018! We are happy to bring the trade and development headlines and analysis from across the Caribbean Region and the world from the past week.
REGIONAL
The major regional trade headlines this week
Barbados and IMF to begin negotiations this week
BarbadosToday: Barbados has put together a strong negotiating team and is ready to engage in discussions with the International Monetary Fund’s (IMF) representatives from July 2 to 12. Read more
Over 200 heads of State and officials to attend CARICOM Meeting in Jamaica
Telesur: Over two hundred foreign officials from the Caribbean Community, or Caricom, are preparing to make their way to Jamaica for the organization’s 39th Regular Meeting of the Conference of Heads of Government. Read more
Premier takes OT-UK fight to CARICOM
Cayman27: Premier Hon. Alden McLaughlin is taking his case to Caricom leaders to enlist the help of Cayman’s regional partners. This as he continues his battle against the UK’s imposition of public beneficial ownership registries on Overseas Territories. Read more
Cuba’s President will be special guest at CARICOM Summit
Prensa Latina: Cuban President Miguel Diaz-Canel will be one of the special guests of the 39th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM), the regional entity reports today. Read more
CARICOM Meeting in Jamaica is time for frankness, says Holness
Jamaica Observer: If Prime Minister Andrew Holness fails to represent us well at the Caricom Single Market and Economy (CSME) meeting he will merit the anger of many yet unborn. He was not among West Indian students in London who took oaths to merge our islands, so he may speak frankly. Read more
INTERNATIONAL
RCEP on track for substantial agreement by year-end in big win for free trade: Chan Chun Sing
Strait Times: Trade ministers of 16 countries that account for 30 per cent of global trade have re-affirmed their resolve for a regional trade deal that will benefit economies at different levels of development. Read more
South Africa to sign African free trade agreement
Fin24: South Africa on Sunday will sign the African Continental Free Trade Area (AfCTFA) agreement, Trade and Industry Minister Rob Davies confirmed. Read more
Canada retaliatory tariffs on US come into force
BBC: Canada’s countermeasures against the Trump administration’s steel and aluminium levies have come into effect. On Sunday, the day the country celebrates its national holiday, Canada imposed a 25% tariff on assorted US metals products. Read more
Japan PM Shinzo Abe says Asia-Pacific can fly flag for free trade
Strait Times: Japanese Prime Minister Shinzo Abe, in an impassioned rallying cry for free trade, on Sunday (July 1) urged Asia-Pacific countries to take the lead to further the free, fair and rules-based economic order. Read more
Japan passes bills to ratify Trans-Pacific deal
Nikkei Asian Review: Japan’s parliament passed bills ratifying a comprehensive trans-Pacific trade deal on Friday, paving the way for the pact to take effect, which its backers say will create a “trade deal for the 21st century.” Read more
Trade barriers: EU removes record number in response to surge in protectionism
EU: The annual report on Trade and Investment Barriers, released today, shows that the European Commission has eliminated the highest number ever of trade barriers faced by EU companies doing business abroad. European exporters reported a major increase in protectionism in 2017. Read more
AU Summit focused on challenges, progresses
Prensa Latina: The African Union (AU) today highlighted the progress made this year on several fronts, when the continent seeks to achieve peace, development and unity. Read more
WTO issues panel report on tobacco plain packaging
WTO: On 28 June the WTO circulated the panel report in the cases brought by Honduras, the Dominican Republic, Cuba and Indonesia in “Australia — Certain Measures Concerning Trademarks, Geographical Indications and Other Plain Packaging Requirements Applicable to Tobacco Products and Packaging” (DS435, DS441, DS458 and DS467). Read more
Hong Kong will pursue more free trade agreements, says official
Strait Times: Hong Kong will continue to pursue free trade agreements (FTAs) as trade is not a zero-sum game, said its secretary for commerce and economic development. Read more
Namibia signs Continental Free trade agreement
NBC (Namibia): Namibia has joined the Continental Free Trade Area (ACFTA) agreement worth over US$2 trillion. Read more
Turkey, EFTA expand free trade agreement
Hurriyet Daily News: Turkey and the European Free Trade Association (EFTA) countries—Iceland, Liechtenstein, Norway, and Switzerland—signed an agreement on June 25 to enlarge their free trade agreement (FTA). Read more
Experts applaud intra Africa trade
ENCA: Experts say intra-Africa trade has the greatest potential for building sustainable economic development and integration on the continent. Read more
Trump reportedly wants the US to withdraw from the WTO
CNBC: President Donald Trump is not a fan of the World Trade Organization. Axios is reporting that Trump has told several top White House officials he wants to withdraw the United States from the WTO. Read more
Trump to delay signing NAFTA deal until after mid-term elections
The Guardian: Donald Trump intends to delay signing a revised version of the North American Free Trade Agreement (Nafta) until after the midterm elections, a move aimed at reaching a better deal with Canada and Mexico. Read more
Mexico’s presidential forerunner could shake up NAFTA and Trump
CNBC: Mexicans will head to the polls Sunday in an election that’s set to bring a paradigm political shift to the country. Read more
EU withdrawal bill officially becomes law
BBC: The government’s flagship Brexit legislation has officially become law, Speaker John Bercow has announced. Read more
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