October 22, 2021

Caribbean Trade and Development News Digest – September 12-18, 2021

Welcome to the Caribbean Trade and Development News Digest for the week of September 12-18, 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

China made its formal application this week to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), but this decision has stirred up significant debate about the geopolitical implications of this announcement. See this report from Strait Times here.

UNCTAD XV Youth Forum Session on “Redefining Trade Governance”

This week I had the honour and pleasure of being a presenter on the “Redefining Trade Governance” panel at the United Nations Conference on Trade and Development (UNCTAD) Youth Forum, one of the pre-events of the UNCTAD XV Quadrennial being held virtually by Barbados. I wish first to congratulate and thank Ms. Roshanna Trim, UNCTAD Youth Forum Lead and her team, for a very thought-provoking and well-organised forum. In this article, I wish to share a few thoughts some of which, due to time constraints, I had been unable to flesh out fully during what was otherwise a very interesting session at the Youth Forum. Read more 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

US$655.1 Million In Export Earnings Between January And May

JIS: Jamaica generated export earnings of US$655.1 million between January and May 2021, representing a 24.6 per cent increase over the US$525.7 million for the corresponding period last year. The information is contained in a statement from the Statistical Institute of Jamaica (STATIN) on Tuesday (September 14). Read more

Taiwan to continue strengthening relations with Belize: President Tsai

Focus Taiwan: President Tsai Ing-wen (蔡英文) said the partnership between Taiwan and its diplomatic ally Belize will grow stronger over time at a virtual ceremony on Friday held to commemorate the 40th anniversary of the Caribbean nation’s independence. Read more

Belize to trade “Superbond” for TNC’s Blue Bond

Amandala: It is a historic agreement that is expected to free the country of its overwhelming international debt of US $572 million, and according to a release from the Ministry of Finance, “pave the way for strong and long-lasting economic growth”. Read more

BELTRAIDE and DFC sign agreement to provide financial support to businesses

BBN: This week, the Belize Trade and Investment Development Service (BELTRAIDE) signed a memorandum of understanding (MOU) with the Development Finance Corporation (DFC), which will be aimed at getting financial support for Belizean businesses. Read more

‘Burdensome’ measures stifling scrap metal trade – exporters

Newsroom: Guyana’s scrap metal trade has taken a hit despite being reopened in April according to the General Secretary of the Guyana Metal Recyclers Association, Stephen Bourne. Read more

INTERNATIONAL NEWS

China formally applies to join TPP

Bloomberg: China has applied to join an Asia-Pacific trade pact once pushed by the U.S. as a way to isolate Beijing and solidify American dominance in the region. Read more

Mainland China bans Taiwan wax and sugar apple imports as cross-strait relations continue to worsen

South China Morning Post: Mainland China has banned imports of sugar apples and wax apples from Taiwan from Monday, citing biosafety fears over plant pests. Read more

US trade rep says India’s Mastercard crackdown ‘draconian’: Report

Al Jazeera: The US has been frustrated since India’s central bank banned new card issuance on the back of breaking data-storage rules. Read more

Trade group wants restrictions on U.S. natural gas exports

Reuters: A manufacturers trade group on Friday urged the Department of Energy to order U.S. liquefied natural gas (LNG) producers to reduce exports, warning of price increases and supply shortages this winter. Read more

U.S. trade chief urges ASEAN envoy to visit Myanmar soon, promote dialogue

Reuters: U.S. Trade Representative Katherine Tai has urged the Association of Southeast Asian Nations (ASEAN) to send its special envoy to visit Myanmar as soon as possible to promote dialogue, her office said on Tuesday, days after opponents of the country’s military rulers declared a revolt. Read more

France denies quitting trade talks with Australia over AUKUS row

Euronews: French and Australian officials said on Monday that France’s anger over a cancelled submarine contract will not derail negotiations of an Australia-EU trade deal. Read more

EU wants long-term solutions for post-Brexit trade, says diplomat

Euronews: European Union ministers meeting on Tuesday will discuss how to ease tensions with London over trade between Great Britain and Northern Ireland but the bloc will not renegotiate provisions for the sensitive frontier agreed in the Brexit divorce deal, a senior EU diplomat said on Monday. 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:

caribbeantradelaw

The Caribbean Trade Law and Development Blog is owned and was founded by Alicia Nicholls, B.Sc. (Hons), M.Sc. (Dist.), LL.B. (Hons), a Caribbean-based trade and development consultant. She writes and presents regularly on trade and development matters affecting the Caribbean and other small states. You can follow her on Twitter @LicyLaw. All views expressed on this Blog are Alicia's personal views and do NOT necessarily reflect the views of any institution or entity with which she may from time to time be affiliated.

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