by Welcome to the Caribbean Trade and Development News Digest for the week of October 31-November 6, 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 United Nations Framework Convention on Climate Change (UNFCCC) Twenty-sixth Conference of the Parties (COP26) is underway in Glasgow, Scotland, UK. Read this round-up report by The Guardian on what (little) has been achieved so far.
European Commission President von der Leyen and United States President Biden agreed on October 31 to start discussions on a Global Arrangement on Sustainable Steel and Aluminium. Read more
The Caribbean Court of Justice this week began hearing claims by Belize that Trinidad & Tobago failed to apply the common external tariff (CET) duty of 40% on brown sugar imported from outside of the Caribbean Community (CARICOM) from November 2018-June 2020 in breach of the Revised Treaty of Chaguaramas, a claim which Trinidad & Tobago denies. The hearing was live streamed and the recording may be watched here.
This week it was my pleasure and honour to be one of the key note speakers at the 2nd Annual Caribbean Future Summit 2021 organised by Global Startup EcoSystem where I spoke on “Disruptive Human Capital Development and Trade in a Post-Pandemic Era”. Other key note speakers included Jamaican Minister Hon. Audley Shaw, Barbadian Minister Hon. Dwight Sutherland, as well as CEOs, entrepreneurs and influencers from across the Caribbean. I thank the organisers for the kind invitation and for a very well-organised and interesting conference.
REGIONAL NEWS
Belize no longer seeking compensation from Trinidad and Tobago over sugar imports tiff
Newsday: Belize will no longer seek compensation from Trinidad and Tobago for allegedly failing to apply the common external tariff (CET) tax on brown sugar imported from outside the region from November 2018-June 2020. Read more
Belize Resumes Shipment of Corn to Guatemala Under Revitalized PSA
Channel 5 News: A consignment of grain destined for Guatemala City departed from the Cayo District this morning, signaling the resumption of trade in corn between Belize and Guatemala. Read more
Jamaican pineapple farmers gain access to Barbados
Jamaican Observer: A release from the Ministry of Agriculture and Fisheries outlined that “With effect from October 29, 2021, Jamaica now has access to export pineapples (fruit) commercially to Barbados.” Read more
Diaspora making strong contribution to Jamaica’s recovery
JIS: Minister of Industry, Commerce, Agriculture and Fisheries, the Hon. Audley Shaw says Jamaica has started to show strong signs of recovery due to relations with the diaspora and retrievals in the services of goods-producing industries. Read more
Barbados may trade in building materials with Guyana – Duguid
Barbados Today: Barbados is seeking assistance from Guyana in the provision of certain types of construction materials to build houses here, Minister of Housing Dr William Duguid said on Monday. Read more
Barbados still top choice for Canadian investors
Barbados Today: Barbados continues to be a top choice jurisdiction for investment by Canadians. This assurance has come from High Commissioner to Barbados and the Eastern Caribbean, Lilian Chatterjee. During her recent address to the Global Business Week 2021 Conference, hosted by BIBA, the Association for Global Business in Barbados and its strategic partners, High Commissioner Chatterjee noted that the island was still within the top 5 jurisdictions in the world for Canadian investment. Read more
Trade has role in assisting with climate change solutions
Barbados Today: Trade has to be part of the climate change solution and countries need to cooperate on how to achieve adaptation and mitigation instead of working in silos. Read more
CDB Proposes a Resilience-Adjusted GNI Measure for Small Island Developing Economies to Access Concessional Finance
CDB: The Caribbean Development Bank (CDB) has proposed a resilience-adjusted Gross National Income (GNI) measure for Small Island Developing States (SIDS) to access concessional finance. Read more
INTERNATIONAL NEWS
Key Takeaways from COP26 Week 1
CTV: All eyes have been on Glasgow, Scotland as the first week of the UN climate conference known as COP26 draws to a close. The conference was delayed by a year because of the coronavirus pandemic, and is set to run until Nov. 12. Read more
China’s trade with world surges ninefold after 20 years in WTO
Nikkei Asia: In the 20 years since joining the World Trade Organization, China has increased its foreign trade by ninefold, vaulting ahead of the U.S. to become the top player, but little progress has been made on reforming entrenched state-owned enterprises. Read more
USTR Tai and Commerce Minister Goyal to take ‘comprehensive look’ at bilateral trade ties
Economic Times: US Trade Representative Katherine Tai and Union Commerce and Industry Minister Piyush Goyal have agreed to take a “comprehensive look” at ways to expand the bilateral trade ties and also shared perspectives on how to reach “meaningful outcomes” at the upcoming WTO Ministerial Conference. Read more
EU could shelve Brexit trade deal if UK triggers article 16, Irish minister warns
The Guardian: Simon Coveney accuses British government of ‘deliberately forcing breakdown’ in negotiations over Northern Ireland. Read more
Biden eyes Western front to China in EU tariff agreement
The Hill: President Biden has ramped up efforts to repair the U.S.-European Union trade relationship and form a united Western front against China with a recent deal to ease Trump-era steel and aluminum tariffs. Read more
China’s Oct trade surplus with the United States at $40.75 bln
Reuters: China’s trade surplus with the United States was $40.75 billion in October, Reuters calculations based on customs data showed on Sunday, down from $42 billion in September. 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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