by Welcome to our Caribbean Trade and Development News Digest covering the week of October 15-22, 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
This week (October 17-21) was World Trade and Environment week at the WTO. Throughout the week there were 17 interesting sessions on various aspects of the trade and environment nexus organised by WTO member governments, the WTO Secretariat and NGOs. Read more here.
Coming up this week, Barbados has its fourth trade policy review at the WTO October 25 and 26. Read more here!
REGIONAL NEWS
BVI Premier keen on pushing agro-trade in OECS
BVINews: Premier Dr Natalio Wheatley has expressed that the BVI should strengthen its ties with its partners in the Organisation of Eastern Caribbean States (OECS) by participating in agricultural trade, among other things. Read more
WTO team currently in Dominica to conduct review
Dominica News Online: A team from the World Trade Organization (WTO) is currently in Dominica to conduct a trade policy review. Read more
OECS heads of governments commit to more functional participation in the bloc
Antigua Observer: A number of heads of states pledged their commitment to improving the work of the Organisation of Eastern Caribbean States (OECS) when they met this week for the 72nd meeting of the OECS Authority. Read more
Jamaica and UAE sign double taxation agreement
CNW: The governments of Jamaica and the United Arab Emirates (UAE) have signed an agreement to avoid double taxation and the prevention of fiscal evasion with respect to taxes on income. Read more
Jamaica poised to help certify Guyana’s food exports to US
Demerara Waves: A Jamaican accreditation agency, which operates to United States Food and Drugs Administration (USFDA) standards, is offering to certify Guyana’s laboratories for food exports to that North American country, officials said late Thursday. Read more
Jamaica Regulations to import and export medical ganja gazetted
The Gleaner: Jamaica has strengthened its position as a major player in the medical ganja industry by formalising arrangements for the import, export, transit and trans-shipment of the herb to other countries that are also signatories to international drug conventions. Read more
Six-month export revenues total US$801 million
The Gleaner: Revenues from total exports amounted to US$801 million during the first half of 2022, between January and June, representing an increase of 2.3 per cent relative to the comparable 2021 period. Read more
Latin America and Caribbean countries look towards India for trade diversification, experts urge dialogue
Financial Express: “India-LAC trade nearly doubled over the past decade, reaching $42.5 billion in 2021 and there are over 160 Indian companies present in LAC with investments exceeding $30 billion, said Karin Costa Vazquez, Executive Director of the Center for African, Latin American and Caribbean Studies. Read more
Agency coming to help Barbadian businesses get money to export
Barbados Today: The Government of Barbados is working toward establishing an agency that will give manufacturing businesses easier access to financing to expand their operations. Read more
Guyana, Grenada talk enhanced partnership
Newsroom: Foreign Secretary of Guyana Robert M. Persaud recently met with Minister for Foreign Affairs, Trade and Export Development of Grenada Joseph Andall to discuss enhanced bilateral cooperation between Guyana and Grenada in several areas. Read more
Cuba calls U.S. trade embargo a ‘hurricane’ that never ends
Reuters: Cuba on Wednesday said the decades-old U.S. trade embargo has been causing record financial losses and untold human suffering in recent months, at a time when Cuba was also battling the effects of the COVID-19 pandemic and Hurricane Ian. Read more
INTERNATIONAL NEWS
ECLAC predicts economic growth will decelerate in LAC next year
Jamaica Observer: The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) is predicting that economic growth will decelerate in Latin America and the Caribbean next year. Read more
Rival trade bloc would lead to huge global GDP loss, says WTO boss
Nikkei: Geopolitical tensions and the COVID-19 pandemic have prompted some governments to veer toward protectionism, but building more diverse supply chains would better serve the cause of global resilience, the chief of the World Trade Organization said in an interview. Read more
Free trade agreement will boost intra-Africa deals, say 90pc CEOs
Business Daily Africa: Nine in 10 African chief executives have confidence the actualisation and adoption of the free trade agreement will boost intra-African trade, a new survey shows. Read more
Trade war tariffs have collapsed US imports of Chinese IT hardware and consumer electronics
SCMP: Four years into the trade war, China has lost significant US market share in IT hardware and consumer electronics to Mexico and Taiwan, though its exports of low-end semiconductors have not yet been fully replaced, a new study has found. Read more
Failure to renew key trade measure is hitting US manufacturers hard
The Hill: As American manufacturers face mounting economic headwinds, an expired U.S. trade measure is inflicting unnecessary damage on our manufacturing sector which plays a critical role in strengthening our nation’s health and national security and historically paves the way in any economic recovery. Read more
U.S.-India Trade Policy Forum set for November 8, modest outcomes likely
The Hindu: The U.S.-India Trade Policy Forum (TPF) has been scheduled for November 8 in Washington DC, The Hindu has confirmed. U.S. trade officials are arriving in New Delhi next week to finalise issues for discussion , an Indian government official told The Hindu. Read more
Three months into the Black Sea Grain Initiative: What’s been achieved — and why it’s important
UN: Today marks three months since the signing of the Black Sea Grain Initiative – an agreement between Russia and Ukraine brokered by the United Nations and Türkiye to resume vital food exports from Ukrainian ports to the rest of the world amid the ongoing war there. Read more
Dhaka to seek WTO’s net food importer status
TBS News: The government has decided to apply to the World Trade Organization (WTO) for the status of a net food-importing developing country (NFIDC), which, commerce ministry officials say, will allow Bangladesh to provide subsidies on agricultural and food exports even after its LDC graduation. 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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