August 15, 2022

Caribbean Trade and Development News Digest – July 3-9, 2022

Welcome to our Caribbean Trade and Development News Digest covering the week of July 3-9, 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

Heads of Government of the Caribbean Community (CARICOM) met in Paramaribo, Suriname this week (July 3-5) for their 43rd Regular Meeting. The communique from the meeting may be viewed here.

REGIONAL NEWS

CARICOM to increase focus on and investment in energy security

Guyana Chronicle: Caribbean Community (CARICOM) has agreed to increase focus and investment in energy security by utilizing and harnessing hydrocarbon resources in the Region, as a means of reducing dependency on external resources. Read more

CARICOM Heads disappointed at “slow pace” of CSME implementation

News Source Guyana: Heads of Government expressed their disappointment during discussions at the CARICOM meeting. They have now taken immediate steps to move the process forward. Read more

Caricom to host conference on rising crime

Kaieteur News: Amid spiraling crime rates across the Caribbean, Caricom heads have agreed to convene a meeting of the Conference to address crime and violence as a public health issue at the earliest opportunity. Read more

Caricom to tackle non-tariff barriers, food security

Newsday: Caricom will begin taking steps to remove non-tariff barriers (NTBs), look into diverse and cheaper means of transport and develop the Caricom Single Market and Economy (CSME), to improve food security and diversify from importing outside of the region, said the Prime Minister in a post Cabinet press briefing on Thursday. Read more

Caribbean Private Sector Body expands presence in Guyana

Newsroom Guyana: The Caribbean Private Sector Organization (CPSO) is expanding its presence with the Guyana Oil and Gas Energy Chamber (GOGEC) now agreeing to join the body. Read more

CARICOM to engage US on dropping sanctions against Venezuela as member states eye new PetroCaribe deal

News Source Guyana: The announcement was made by Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves at a press conference at the closing of the CARICOM heads meeting in Suriname yesterday. Read more

UNCTAD welcomes Paris Club debt agreement with Suriname

UNCTAD: The organization calls for all debt relief and restructuring to be consistent with the achievement of Agenda 2030. Read more

INTERNATIONAL NEWS

Global trade hits record $7.7 trillion in first quarter of 2022

UNCTAD: But the positive trend for international trade may soon come to an end amid tightening policies and geopolitical frictions. Read more

U.S. to terminate treaty with Hungary over resistance to global tax

Washington Post: The Biden administration on Friday said it will terminate its four-decade-old tax treaty with Hungary over that country’s resistance to implementing a global minimum tax, as the United States seeks to create a global tax floor for large multinational corporations. Read more

Indonesia and United Arab Emirates reach trade pact

Reuters: Indonesia and the United Arab Emirates on Friday signed a free trade agreement, strengthening economic ties between Southeast Asia’s largest economy and the major oil producing Gulf state. Read more

Oil rally helps push Canada to biggest monthly trade surplus since 2008

CBC: Exports rose 4.1 per cent to $68.4 billion as shipments of energy products gained 5.7 per cent. Canada exported more than $20 billion worth of energy products like oil during the month. That was 29.8 per cent of everything the country exported during the month, an all-time high. Read more

U.S., Canada, Mexico discuss Mexican energy policy, labor issues

Reuters: U.S., Canadian and Mexican authorities discussed concerns over Mexican energy policy and labor issues, representatives from the three countries said on Friday as they met in Vancouver for the second anniversary of a regional trade pact. 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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