by Welcome to the Caribbean Trade & Development Digest for the week of July 1-7, 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 news this week was the 39th Regular Meeting of the Conference of the Heads of Government of CARICOM held in Jamaica. The full communique from the meeting may be viewed here. Some of the major headlines from the meeting may be found below:
CARICOM Meeting Headlines
President of Chile keen to negotiate a free trade agreement with CARICOM
Jamaica Information Service: President of the Republic of Chile, His Excellency Sebastián Piñera, has expressed interest in entering into negotiations on a free trade-agreement with the Caribbean Community (CARICOM). He was addressing the third plenary session at the 39th Regular Meeting of the Conference of Heads of Government of CARICOM on Friday (July 6), at the Montego Bay Convention Centre, in St. James.Read more
CARICOM must reposition to navigate the new normal
Jamaica Observer: Grenada’s Prime Minister Dr Keith Mitchell says the Caribbean Community (Caricom) must reposition itself to operate in a global landscape characterised by the “new normal”. Read more
Premier Burt speaks on Fintech at CARICOM
Bernews: During the CARICOM meeting in Jamaica, Premier David Burt made a presentation about Bermuda’s moves in establishing a regulatory platform for fintech and also discussed how “Distributed Ledger Technology more generally can assist with challenges in servicing citizens and increase government efficiency.” Read more
CARICOM Chairman lobbies Chile for Development Financing
Jamaica Gleaner: Chairman of the Caribbean Community (CARICOM) and Prime Minister of Jamaica Andrew Holness has encouraged the Chilean President to use his country’s “considerable visibility” on the international stage to assist members of the regional bloc to make a strong case for access to development financing. Read more
Bahamian Prime Minister addresses CARICOM on disaster management
Eyewitness News: Prime Minister, Dr. Hubert Minnis shared with his CARICOM colleagues, a number of initiatives being undertaken by his government in a move to improve his country’s disaster mitigation plan, through the National Emergency Management Agency, NEMA. Read more
CCJ not a priority for St. Lucia at this time
Jamaica Observer: St Lucia’s Prime Minister Allen Chastanet says while signing on to the Caribbean Court of Justice (CCJ) is a critical issue, it is not a priority for his Government at this time. Read more
CARICOM leaders propose that measures be put in place for easier travel
Jamaica Information Service: Caribbean Community (CARICOM) leaders are proposing that measures be put in place to facilitate easier travel within the community. Read more
CCJ’s New President hopes CARICOM nations will join Court’s Appellate Jurisdiction
Jamaica Observer: Justice Adrian Saunders who was yesterday installed as the third president of the Caribbean Court of Justice (CCJ) is disappointed that more Caribbean Community (CARICOM) nations have not yet signed on to the court’s appellate jurisdictions. Read more
PM Browne calls on CARICOM to address the “disproportionate movement of people”
Antigua Observer: Prime Minister Gaston Browne has called on the Caribbean Community (CARICOM) to address the unbalanced movement of people that is borne by the Organisation of Eastern Caribbean States (OECS). Read more
Other Regional Headlines
FDI in Latin America and the Caribbean falls for third consecutive year
St. Lucia Online: Despite an international context characterised by stronger growth in the global economy, abundant international liquidity, high corporate returns and optimism in financial markets, the flows of foreign direct investment (FDI) in Latin America and the Caribbean fell for the third year in a row last year. Read more
Cuba seeks to increase non-conventional agricultural exports
Xinhua: Cuba seeks to increase exports of non-conventional agricultural products like honey, charcoal, coffee and pine resin to various markets around the world and contribute to the government’s strategy of diversification of foreign markets. Read more
TT#1 in Cuba
Newsday: TT exported an estimated $456 million worth of goods to Cuba in 2016 while it imported $37 million of products from the island that same year. Read more
DT World to create new trade portal in Dominican Republic
Saudi Gazette: A new electronic trade portal that will enable trade and make life easier for business has been launched in the Dominican Republic by Dubai Trade World (DT World). Read more
Commissiong is Barbados’ new ambassador to CARICOM
Nation News: Controversial attorney David Comissiong will be Barbados’ next Ambassador to CARICOM. Read more
CARICOM Day in London pays tribute to Windrush Generation
The Daily Herald: The Caribbean Community CARICOM diplomatic missions in London celebrated CARICOM Day on Wednesday with a special thanksgiving service and exhibition in tribute to the Windrush generation. Read more
Haiti Risks Losing Thousands of Jobs
Haitilibre: As of Saturday, July 7, 2018, will end the derogation granted to Haiti, pending the ratification of the Economic Partnership Agreement (EPA) – European Union – Cariforum. Recall that the countries of the region that signed this agreement, did it to attract foreign investment in their country and to have better access to the EU market. Read more
INTERNATIONAL
Russia initiates WTO dispute complaint against US steel, aluminium duties
WTO: The Russian Federation has requested WTO dispute consultations with the United States regarding US duties on certain imported steel and aluminium products. The request was circulated to WTO members on 2 July. Read more
Support remains solid for Aid for Trade financing, WTO members told
WTO: Support for projects intended to help poor countries expand their participation in global trade continues to be solid, with low income countries garnering the most support on a per-capita basis, WTO members were told on 3 July. The latest update was delivered to the Committee on Trade and Development’s session on Aid for Trade. Read more
Rate of new trade restrictions from G20 economies doubles against previous period
WTO: The WTO’s nineteenth monitoring report on Group of 20 (G20) trade measures covering the period from mid-October 2017 to mid-May 2018, issued on 4 July, shows that new trade-restrictive measures from G20 economies have doubled compared to the previous review period. The report also shows that G20 economies continue to implement trade-facilitating measures, with the rate increasing slightly. Read more
WTO issues panel report regarding US duties on Canadian paper
WTO: On 5 July the WTO circulated the panel report in the case brought by Canada in “United States — Countervailing Measures on Supercalendered Paper from Canada” (DS505). Read more
David Davis resigns as Brexit secretary
Independent: His resignation as Brexit secretary deals a heavy blow to the stability of the prime minister’s administration, with two other ministers almost immediately following suit. Read more
BONUS
The Closing Press Conference of the Thirty-Ninth Heads of Government meeting may be viewed here on CARICOM Today’s Blog.
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