by Welcome to the Caribbean Trade and Development News Digest for the week of May 9-15 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.
THIS WEEK’S HIGHLIGHTS
The Caribbean Community (CARICOM) will have its first female Secretary General as of August 15, 2021. This week, Heads of Government unanimously selected Belizean Dr. Carla Barnett to be the incoming SG. Read more about what awaits the new SG here.
Jamaica is exploring once again the possibility of creating an Economic Residency Programme. Read more here.
According to the World Trade Organization (WTO), Bolivia has notified its need to utilise the flexibility under the TRIPS 2017 amendment. Read more
United States Trade Representative (USTR) Ambassador Katherine Tai testified this week at a Senate Finance Committee Hearing on the President’s Trade Agenda. Read her remarks here.
Afronomicslaw Symposium: Prospects for Deepening Africa-Caribbean Economic Relations – Call for Blogs (Extended Deadline: June 4)
Given the limited but promising trade and investment relationship between both regions, there is a dearth of scholarly analysis on the Africa-Caribbean economic relationship. This Symposium aims to address this gap in international economic relations scholarship through considered analytical pieces exploring aspects of this understudied relationship. We invite authors to submit blog contributions which critically analyze and examine this relationship from a variety of perspectives. Read the full Call for Blogs here.
REGIONAL NEWS
Regional integration and the CSME to be taught in CARICOM classrooms
Loop News Caribbean: Starting on Monday, around the region, the teaching of regional integration and the Caribbean Community (CARICOM) Single Market and Economy (CSME) will be done in classrooms as part of a new indicative by the CARICOM Secretariat. Read more
CARICOM launches regional integration and CSME pilot programme
Searchlight: The Caribbean Community (CARICOM) Secretariat is continuing efforts to increase the teaching of regional integration and the CARICOM Single Market and Economy (CSME) in CARICOM classrooms via a new initiative that was due to start yesterday, Monday May 10, 2021. Read more
More Protection For Condensed Milk And Clinker In CARICOM
JIS: Minister of Industry, Investment and Commerce, Hon. Audley Shaw, has informed that condensed milk and clinker (used in cement production) supplied within the Caribbean Community (CARICOM) “have [now] been afforded an additional layer of protection”. Read more
State Entities That Facilitate Imports And Exports To Be Digitised
JIS: Some 20 State entities that facilitate imports and exports are earmarked for digitisation under the Jamaica Electronic Single Window for Trade (JSWIFT) initiative. Read more
Barbados AG: UK listing disappointing, but not surprising
Nation News: Statement from Attorney General Dale Marshall on the UK Government’s listing of Barbados as a High-Risk Third Country. Read more
Barbados, Dominica collaborating on resilience investment
Barbados Today: Barbados is engaging the services of the International Financial Corporation (IFC) in association with Dominica, as the two countries seek to embark on a pilot project to spur private sector investment in resilience. Read more
St Kitts PM makes global appeal for regional vaccine availability
NYCaribNews: Prime Minister Dr. Timothy Harris Friday called on the United States and other vaccine producing countries to ensure the equitable distribution of the vaccine needed to curb the spread of the coronavirus (COVID-19) that has killed thousands of people in the Caribbean Community (Caricom) grouping. Read more
CARICOM states ‘lack green energy drive’ despite ‘ambition
Barbados Today: Warning that it will take upwards of $40 billion (US$20 billion) in investment for CARICOM to reach the goal of 100 per cent renewable energy use and energy efficiency, a senior regional civil servant has expressed disappointment at the slow pace of some member states in going green. Read more
BTMI relaunches Barbados tourism brand
Nation News: The Barbados Tourism Marketing Inc. (BTMI) virtually relaunched Barbados’ tourism brand to the world earlier today, unveiling the new brand theme “Little Island; Big Barbados”. Read more
BTMI chief introduces National Tourism Marketing Committee
Barbados Today: A new National Tourism Marketing Committee (NTMC) has been established under the Barbados Tourism Marketing Inc. (BTMI) to focus on the strategic marketing of niche tourism product offerings, the state tourism agency said Friday. Read more
Barbados exports down
Barbados Advocate: According to the data, overall domestic exports brought in income of $102.8 million, compared to $117.2 million a year earlier and $135 million in the same three-month period in 2019. Read more
Increase trade in services – EU delegation
Jamaica Gleaner: Head of the European Union (EU) Delegation to Jamaica, Marianne Van Steen, is encouraging Jamaica to increase trade in services to better exploit opportunities within the 27-member trade bloc. Read more
Government of Belize Reconstitutes a National Trade Negotiating Commission
LoveFM: Distance, language, tariffs, and import quotas are barriers that often put small and medium-sized economies at great trading disadvantages. But with the formation of the National Trade Negotiating Commission, Belize is hoping to even the playing field. Read more
Bahamas ambassador promotes Caribbean priorities for EU partnership agreement
EyeWitnessNews: Maria O’Brien, ambassador extraordinaire and plenipotentiary of The Bahamas to the Kingdom of Belgium and head of mission to the European Union, recently represented The Bahamas at an official ceremony to finalize a new partnership agreement between the Organisation of African, Caribbean and Pacific States (OACPS) and the European Union. Read more
Trinidad & Tobago Trade Ministry promotes opportunities in the UK market
Trinidad Express: As the Government of Trinidad and Tobago continues to actively increase the country’s exports to extra-regional markets, the Ministry of Trade and Industry in collaboration with exporTT Limited recently hosted a Virtual Awareness Session on the CARIFORUM-United Kingdom (UK) Economic Partnership Agreement (EPA). Read more
Trade Minister meets with TT Chamber’s new Head
Trinidad Express: Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry held a virtual meeting earlier today with the newly installed President of the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC), Mr. Charles Pashley. During the meeting several matters related to supporting the growth and expansion of the local private sector were discussed. Read more
Use of The Bahamas’ vast ocean resources — Bahamas Development Bank looks at the potential and offers grants for training
EyeWitness News: The recent Blue Economy Think Tank hosted by the Strategic Development and Initiatives Unit of the Bahamas Development Bank (BDB) attracted over 340 registered participants and 20 panelists from The Bahamas and abroad, who examined ways in which Bahamians can benefit from sustainable use of the country’s vast ocean resources. Read more
IDB urges Caribbean countries to do more to meet their Paris Agreement commitments
Jamaica Observer: The Inter-American Development Bank (IDB) says Latin America and the Caribbean countries must include finance and planning perspectives to their climate policies and commitments in their nationally determined contributions (NDCs) if they expect to deliver on their Paris Agreement objectives and promote a sustainable recovery. Read more
INTERNATIONAL NEWS
WTO DG fixes July ministerial meeting on over-fishing rules
Reuters: The head of the World Trade Organization plans to host a ministerial meeting on July 15 where she hopes an agreement can be reached on cutting fisheries subsidies after 20 years of talks, a document showed on Monday. Read more
WTO Aims for Agreement on Fisheries Subsidies in July 2021
IISD: World Trade Organization (WTO) members reviewed work undertaken in March and April to advance negotiations on an agreement to curb harmful fisheries subsidies. WTO members are aiming to reach an agreement in July 2021. Read more
How global trade can save lives and livelihoods – and help protect the planet
WEForum: Global trade has a role to play in saving lives in the COVID-19 pandemic, creating jobs and sustainable development that mitigates against climate change. This was the view of the panellists at the World Economic Forum’s latest Agenda Dialogues session on the Global Trade Outlook. Read more
Piyush Goyal, US Trade Representative discuss COVID-19 vaccine production, TRIPS waiver
Business Today: During a meeting with Commerce and Industry Minister Piyush Goyal, United States Trade Representative (USTR), Katherine Tai, reaffirmed the commitment of the US to help India. Read more
China, WTO need to upgrade overdue digital trade rules
Hellenic Shipping News: Over the years, the digital economy has developed greatly throughout the world. But World Trade Organization (WTO) digital trade rules have stagnated. Since the new Director-General Ngozi Okonjo-Iweala took office in February, reforms regarding digital trade rules are facing greater challenges and opportunities. Read more
‘Hostile environment’: After Brexit, some EU citizens in the UK are worried about their future
CNBC: Many EU citizens who are still living in the U.K. after Brexit have said they do not feel treated equally to British citizens and feel worried about their rights, a new survey has found. Read more
After India-EU Summit, Is a Free Trade Agreement on the Cards?
News18: Even as the European Union has got politically weakened by Brexit, internal tensions between western European countries and eastern ones, notably Hungary and Poland, over issues of democracy and European values, problems of migration, Islamism, terrorism and rise of right-wing forces, and, in addition, economically enfeebled by the still-uncontrolled COVID crisis, India has decided to draw closer to it, driven by its own political and economic challenges. Read more
EAC Secretary General promises to increase intra-regional trade from 20% to 50% in the next five years
EAC: The EAC Secretary General, Hon (Dr.) Peter Mathuki has promised the business community in the region that he will do everything within his power to address the vice of Non-Tariff Barriers to trade and trade wars, and work towards raising the volume of intra-regional trade from the current level of below 20% to more than 50% over the next five years. Read more
Cotonou 2.0: A bad trade deal for Africa?
DW: The new EU-OACPS Partnership Agreement is only a few weeks old, but already many in Africa are calling for an update. What are the reasons for the dissatisfaction? Read more
Impact of COVID-19 on financing of free trade in Africa assessed
ESI Africa: African Export-Import Bank, the UN Economic Commission for Africa, the African Development Bank and Making Finance Work for Africa Partnership have released a special African Trade Finance Survey Report assessing the impact of the COVID-19 pandemic on trade finance in Africa. Read more
Kazungula Bridge to boost regional trade and commerce
AllAfrica: The recently constructed 923-metre-long rail and road Kazungula bridge, linking Zambia and Botswana, was inaugurated on Monday in an effort to boost bilateral and regional trade. The bridge across the Zambezi River, co-financed by the two governments, is expected to boost trade and commerce between the two countries as well as increase economic activities and prospects of other Southern African Development Community (SADC) countries, including Namibia, Zimbabwe, Malawi, DRC and Mozambique. Read more
Belarus, South Africa to strengthen business contacts
BELTA: Belarus and South Africa plan to strengthen business contacts. The matter was discussed during the online meeting of the representatives of the Belarusian Chamber of Commerce and Industry (BelCCI) with President of the South African Chamber of Commerce Mtho Xulu, BelTA learned from the BelCCI website. Read more
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