by Welcome to the Caribbean Trade and Development News Digest for the week of August 15-21, 2021! We are pleased to once again bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.
We continue to express our solidarity with our brothers and sisters in Haiti who were affected by a 7.2 magnitude earthquake last week, as well as Tropical Storm Grace. The death toll at the time of this Digest’s publication was over 1900 innocent lives lost. Please donate if you can to reputable charities and organisations.
HIGHLIGHTS
According to the World Trade Organization’s latest Goods Trade Barometer, global merchandise trade is “continuing its robust recovery” from the shock of the COVID-19 pandemic and hit a record high in its latest reading issued on August 18. Read more here.
ECLAC’s latest Foreign Direct Investment in Latin America and the Caribbean Report (2021) found that only five LAC countries received more foreign capital in 2020 than in 2019: Bahamas and Barbados in the Caribbean, Ecuador and Paraguay in South America, and Mexico. Access the full report here.
Dr. Carla Barnett, the first appointed female Secretary-General of the Caribbean Community (CARICOM), took office this week following a virtual ceremony marking the occasion and in which she outlined her vision and priorities for her term. Read more here.
UNCTAD has issued an open call for photo submissions for UNCTAD15 which will be hosted virtually by Barbados October 3-7. See the call for submissions.
REGIONAL NEWS
‘Demerara Rum’ gets geographical indication recognition in EU
Stabroek: Demerara Distillers Limited has succeeded in having its Demerara Rum geographical indication (GI) recognised and protected in the European Union (EU), a move the company’s Chairman, Komal Samaroo has described as a “major development”. Read more
CARICOM Secretary-General donates books to University of Belize
Breaking Belize News: As she leaves Belize’s shores for Guyana to become Secretary-General of the Caribbean Community (CARICOM), Dr. Carla Barnett is leaving behind a gift – a donation of books from her personal collection to the University of Belize Library. Read more
July arrivals set new record for Barbados for 2021
Barbados Today: Barbados recorded over 10,000 air passenger arrivals after months of being hard-hit by a global pandemic. For the first time since December 2020, the local tourism industry has recorded a major tourism milestone with the latest statistics from the Barbados Tourism Marketing Inc. (BTMI) suggesting a positive turn for the industry ahead of the 2021/2022 winter season. Read more
T&T and Chile commence negotiations to expand trade
Trinidad Guardian: Trade and Industry Minister, Senator the Honourable Paula Gopee-Scoon has expressed anticipation that the Agreement will support Trinidad and Tobago’s trade policy and eliminate non-tariff barriers. The following is a press release from the Ministry of Trade and Industry. Read more
TTMA meets Cuba ambassador to talk trade
Trinidad Guardian: President of the T&T Manufacturers’ Association (TTMA) Tricia Coosal has met with Cuban Ambassador Tania Diego Olite to discuss trade and other related matters. Read more
Belize doesn’t have enough coconuts, Ministry of Agriculture looking at ways to increase production
Breaking Belize News: If we walk around town, that is in any of the cities and towns, we see a lot of coconuts. Going by that, one would think that we have excess production. However, we don’t have enough says the Minister of Agriculture, Food Security, and Enterprise, Jose Abelardo Mai. Read more
Belize Cabinet news: Decisions on trade licenses, medical waste, and national census
Breaking Belize News: While COVID-19 dominated this week’s meeting of the National Executive as it has for so long, other decisions were made and announced. Read more
More Belize trade talks with Guatemala
Amandala: For two days last week, a delegation from the Guatemalan Republic held trade talks with the Chief Executive Officer in the Ministry of Foreign Affairs and Foreign Trade, Ambassador Amalia Mai. Read more
JMEA wants more Caricom dollars
Jamaica Observer: The Jamaica Manufacturers and Exporters Association (JMEA) is looking to increase its receipts from Caricom as it believes there are still opportunities within the bloc for local companies to grow while also advancing the Jamaican economy. Read more
Communique issued after agreements between Guyana, Suriname
Newsroom: Joint communique issued on the official visit by Guyanese President to Suriname. Read here.
Latin America and Caribbean FDI in 2020 was the lowest since 2010, ECLAC annual report
Mercopress: Latin America and the Caribbean received US$105.48 billion in Foreign Direct Investment, FDI, in 2020 – 34.7% less than in 2019, 51% less than the record high achieved in 2012, and the lowest since 2010, the Economic Commission for Latin America and the Caribbean (ECLAC) indicated during the presentation of the annual “Foreign Direct Investment in Latin America and the Caribbean, 2021”. Read more
INTERNATIONAL NEWS
UK becomes Dialogue Partner of the Association of Southeast Asian Nations
Gov.uk: The UK has agreed a new partnership with the Association of Southeast Asian Nations (ASEAN). Read more
Exclusive: UK eyes quick ‘interim’ trade deal with India as negotiations set to start this year
City AM: The UK government is looking at wrapping up a quick “interim” trade deal with India, which could see tariffs slashed on products like Scotch whisky before a full agreement is in place. Read more
Why the EU Sides with Southeast Asia in the South China Sea Dispute
VoA: European Union members will step up their advocacy of open access to the disputed South China Sea, a key world trade route, despite Chinese claims to nearly all of it as they discuss the issue with Southeast Asian countries, analysts believe. Read more
Economic Commission for Africa Director seeks ways to boost AfCFTA’s implementation as MSMEs consultation opens
Africa News: The Economic Commission for Africa (ECA) and communication consultancy AUNIQUEI, with funding from the European Union (EU) today in Dakar opened a consultation with African micro, small and medium enterprises (MSMEs) on the implementation of the African Continental Free Trade Area (AfCFTA). Read more
AfCFTA will promote made in Africa Goods — Perm Secretary
The Guardian (Nigeria): Inauguration of the Technical Working Group of the African Continental Free Trade Area ( AfCFTA) for Agriculture and Agribusiness work stream will promote made in Africa Goods and Services. Read more
Afreximbank restates commitment to AfCFTA implementation
The Guardian (Nigeria): The Regional Chief Operating Officer of the African Export-Import Bank (Afreximbank), Eric Monchu Intong, has reiterated the bank’s commitment to the full implementation of the African Continental Free Trade Area [AfCFTA] as it remains the guaranteed strategy for the continent to propel economic recovery. Read more
Swiss paper faulted for sexist headline about WTO chief
Expatica: A media regulator faulted a Swiss newspaper on Tuesday for sexism over a headline earlier this year describing the World Trade Organization’s highly qualified new chief merely as a “grandmother”. Read more
Toyota production cut highlights ASEAN supply chain vulnerability
Nikkei Asia: Toyota Motor’s announcement that it will slash production next month has sparked concerns over vulnerabilities in Southeast Asia’s auto supply chain as the region grapples with new variants of the coronavirus. Read more
Cheaper wine in the offing as Government close in on New Zealand trade deal
Evening Standard: The Department for International Trade said imported wine, apples and honey could all see their prices slashed in a post-Brexit agreement. Read more
GM workers in Mexico reject union in win for US free trade pact
Al Jazeera: Workers at a General Motors Co. truck plant in Mexico voted to cancel their union contract after the U.S. initiated a dispute against conditions at the factory, a historic victory for the North American free trade agreement. Read more
STRAIGHT FROM THE WTO
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The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:
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