by Welcome to our Caribbean Trade and Development News Digest covering the week of February 6-12, 2022! 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 do hope you enjoy this week’s edition!
THIS WEEK’S HIGHLIGHTS
Truck drivers and other protesters opposed to COVID-19 vaccine mandates and other restrictions in Canada withdrew their vehicles from the Ambassador Bridge, a major U.S.-Canadian border bridge following a crackdown by Canadian authorities. This week the Government of Ontario declared a State of Emergency. But protests have continued elsewhere, leading to fears of the continued impact on supply chains and trade. Meanwhile, similar protests against COVID-19 restrictions have been popping up in other countries. Read the latest in this report from the Associated Press (AP) here.
On 8 February, the WTO circulated the panel report in the case brought by the Republic of Korea in “United States — Safeguard measure on imports of large residential washers” (DS546). Read more here.
The European Commission this week published a new study on global approaches to trade and sustainable development (TSD) as part of its work to strengthen environmental and sustainability aspects of EU trade policy. Access the report here.
This week I had the pleasure of being a discussant at the Institute of International Relations (IIR) of The University of the West Indies St. Augustine’s Diplomatic Dialogue on the Caribbean Financial Action Taskforce.
REGIONAL NEWS
Guyana and Barbados team up in joint venture to develop sector
Barbados Today: Guyana says it is working with Barbados to create a joint tourism product, linking the two Caribbean Community (CARICOM) countries as a common market and package. Read more
20% of Guyana’s land for Amerindians – Guyana VP Jagdeo
iNews: Vice President Dr. Bharrat Jagdeo said 20 per cent of Guyana’s land should go to its Amerindian peoples. Read more
$22M approved for Local Content Secretariat in Guyana
iNews: The Committee of Supply on Tuesday approved $22 million to begin works on the establishment of the Local Content Secretariat – the body responsible for overseeing and implementation of Guyana’s the Local Content Act. Read more
UKHO supports maritime trade and economic growth in Belize
UK.gov: UKHO conducts seabed mapping surveys in Belize to support management of the marine environment and economic development. Read more
Caribbean Export seeks to tap into new markets
Jamaica Observer: The Caribbean Export Development Agency has underscored the need for the region to explore and penetrate gaps into untapped markets. Read more
Belize Trade Minister on regional roadblocks to trade
BBN: Тhе Саrіbbеаn Соurt оf Јuѕtісе (ССЈ)’ѕ dесіѕіоn thаt Веlіzе hаd nоt аdеquаtеlу рrоvеn іtѕ сhаrgе аgаіnѕt Тrіnіdаd аnd Тоbаgо аllоwіng thе іmроrtаtіоn оf brоwn ѕugаr рrоduсеd іn соuntrіеѕ thаt аrе nоt а раrt оf thе Ѕіnglе Маrkеt wіthоut іmроѕіng thе 40% Соmmоn Ехtеrnаl Таrіff іѕ nоt bеіng ѕееn аѕ а lоѕѕ bу Веlmораn. Read more
Artisan Village in Falmouth 95 Per Cent Complete
JIS: Minister Bartlett said that the village will provide a location for artisans and entrepreneurs to produce and sell authentic Jamaican products. Read more
Poultry farmers benefitting from $50m subsidiary programme
Jamaica Star: Minister of Agriculture and Fisheries, Pearnel Charles Jr., says poultry farmers have commenced benefitting from the ministry’s $50 million subsidiary programme, aimed at minimising production costs. Read more
INTERNATIONAL NEWS
A McKinsey Report Paves the Way for an Internal Shake-Up at the World Trade Organisation
The Wire: The full report has not been shared with the WTO members until now for inexplicable reasons. There are also doubts whether the disclosure of the full report to members could withstand a scrutiny by members. Read more
Countries ask to join WTO talks over China, Lithuania spat
AP: More countries have asked this week to join talks about the European Union’s complaint with the World Trade Organization accusing China of exerting economic pressure on Lithuania. Read more
U.S. politician uses blockade at Canada-U.S. border to argue for Buy American
CBC: A U.S. lawmaker has seized on blockades at the Canada-U.S. border to argue for more Buy American-style policies and for less reliance on buying goods from Canada. Read more
Brexit proving expensive for British groceries
DW: Since the start of new rules for EU food imports in January, many Britons are worried about shortages. Britain imports five times more food from the EU than it exports. Read more
UK exports to EU fell by £20bn last year, new ONS data shows
The Guardian: Figures show Brexit compounding Covid disruption, with clothing exports plunging 60%, vegetables down 40% and cars 25%. Read more
Brexit still leaves many unanswered questions for the EU
Investment Monitor: The impacts of the UK’s departure from the EU are being played out, but Brexit also presents challenges for the EU, which are not being met. Read more
ICSID Releases New Caseload Statistics for the 2021 Fiscal Year
ICSID: A new report by the International Centre for Settlement of Investment Disputes (ICSID) tracks case-related trends over the 2021 fiscal year, as well as for all ICSID cases going back to 1972. Read more
IMF says wants G20 support to strengthen debt restructuring framework
Reuters: The International Monetary Fund said on Thursday it is hoping that G20 finance leaders next week can advance proposals to strengthen a debt restructuring framework for poor countries as default risks rise and demands for easier debt terms increase. Read more
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