by Welcome to the Caribbean Trade and Development News Digest for the week of September 5-11, 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.
We continue to express our solidarity with our brothers and sisters in Haiti who were affected by a 7.2 magnitude earthquake on August 14, and then by Tropical Storm Grace just days later. Even though the international media has largely moved on from the ‘story’, our Haitian brothers and sisters still need your help. Please assist by reaching out to reputable charities/aid agencies if you are so able.
THE WEEK’S HIGHLIGHTS
On Tuesday, September 7, the first ever CARICOM-Africa Summit was held! It was hosted by the Government of Kenya and chaired by Kenyan President, His Excellency Uhuru Kenyatta under the theme “Unity Across Continents and Oceans: Opportunities for Deepening Integration”. Read more here.
My Article for IFC Review ‘Why FATF’s Workstream on ‘unintended consequences’ matters for IFCs”
Pleased to share my latest piece for IFC Review which looks at the importance of the Financial Action Taskforce (FATF)’s workstream on ‘unintended consequences’ for Caribbean IFCs. Have a read of the online version here.
Afronomics Law Blog Symposium on Africa-Caribbean Economic Relations Continues!
I am truly pleased to have co-convened this Afronomicslaw. org Blog Symposium with the brilliant Dr Ohiocheoya Omiunu (PhD) on “Prospects for Deepening Africa-Caribbean Economic Relations“! The insightful contributions to this symposium are being released every other day and can be read on the Afronomics Law Blog. I also wish to extend my deepest appreciation to the expert contributors – academics and practitioners – for taking time out of their busy schedules to share their invaluable contributions, without which this Symposium would not be possible!
REGIONAL NEWS
Caricom trade teetered in 2020; Jamaican exports fell by 15 per cent
Jamaica Observer: Conditions caused by the novel coronavirus pandemic disturbed trading activity globally and the same was seen among countries which make up the trading community of Caribbean Community (Caricom). Read more
Guyana sidesteps India oil supply deal – Report
Stabroek: Even as speculation had become rife that India’s oil supply challenges arising primarily out of an idiosyncratic production posture on the part of the Organization of Petroleum Exporting Countries (OPEC) might have been eased somewhat by the prospect of a long-term oil supply deal with Guyana, a media report published on Monday by the media group Caribbean News Global (CNG) says that Guyana has walked aside from such a deal. Read more
Belize exports 195 head of beef cattle to Mexico
Breaking Belize News: Belarmino Esquivel, Principal Agriculture Office and Livestock Director at the Ministry of Agriculture, Food Security, and Enterprise (MAFSE) said Thursday’s export to Mexican multinational SuKarne consisted of 91,000 pounds of live weight, worth $164,000 in foreign exchange to Belize’s economy. Read more
Barbados Prime Minister shares proposals to strengthen relations
GIS: Prime Minister Mia Amor Mottley has put forward several proposals to strengthen relations between Africa and CARICOM, including the establishment of a regular weekly direct flight and a mass media mechanism for sharing information.Read more
President Kenyatta roots for closer cooperation
CARICOM: President Uhuru Kenyatta on Tuesday advocated for the forging of closer working partnerships between African and Caribbean nations so as to raise their power of overcoming common challenges such as Covid-19, climate change and public debt. Read more
Placing Caribbean-Africa relations on proper footing
Searchlight: The inaugural Caribbean Community (CARICOM)-Africa Summit was held virtually on 7th September 2021. The Summit was hosted by Kenya under the theme ‘Unity Across Continents and Oceans: Opportunities for Deepening Integration’. The President of Kenya, His Excellency Uhuru Kenyatta, chaired the Summit. Read more
INTERNATIONAL NEWS
UK ‘cut climate pledges’ to clinch Australia trade deal
BBC: Ministers agreed to cut key climate pledges to help clinch the UK trade deal with Australia it has emerged. Read more
Uruguay’s FM says other unilateral trade deals may be announced shortly
Mercopress: Uruguay’s Foreign Minister Francisco Bustillo Friday said that in addition to China there were several other countries interested in reaching one-on-one trade deals with his country. Read more
Lacalle Pou: Uruguay and China in talks over bilateral free-trade deal
Buenos Aires Times: Uruguayan President Luis Lacalle Pou says his government is “in a hurry” to close a FTA with China – a development that’s sure to increase tensions with other Mercosur member states. Read more
India, Australia working for ‘early harvest’ trade deal, says foreign minister Marise Payne
Hindustan: Australian foreign minister Marise Payne and defence minister Peter Dutton are in New Delhi to participate in the maiden India-Australia 2+2 dialogue of the defence and foreign ministers. The decision to elevate the dialogue to the ministerial level was made last year. Read more
Cambodian parliament ratifies RCEP, world’s biggest free trade pact
Xinhua: The National Assembly of Cambodia on Thursday ratified the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement (FTA), which comprises 15 Asia-Pacific countries. Read more
Trade agreements are ‘always hard-fought’: Keith Pitt
Sky News: Resources Minister Keith Pitt says trade deals are “always hard-fought” and “everyone wants an advantage” which benefits themselves and their country. Read more
China Lobbies Australia For Help to Join Trade Pact Despite Spat
BBN Bloomberg: China is lobbying the Australian government for its support to join a multilateral regional trade pact — despite the two nations being in a worsening geopolitical dispute that’s spilled over into economic reprisals. Read more
UAE targets new Kenya trade deal
Business Daily: The United Arab Emirates (UAE) plans to sign a comprehensive economic partnership agreement with Kenya to consolidate its position as a gateway for global trade and investment. Read more
STRAIGHT FROM THE WTO
NEW ON THE CTLD BLOG
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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