Caribbean Trade Law and Development

Category: Caribbean

  • Historic first CARICOM-Africa Summit – LIVE STREAM

    Historic first CARICOM-Africa Summit – LIVE STREAM

    Alicia Nicholls

    Days after the first ever United Nations (UN) International Day for People of African Descent was celebrated, there will be the first ever Caribbean Community (CARICOM)-Africa Summit! The summit, which was originally carded for July 2020, was postponed due to the COVID-19 pandemic. The rescheduled summit, which will now be held on September 7, will be hosted by the Government of Kenya and chaired by Kenyan President, His Excellency Uhuru Kenyatta under the theme “Unity Across Continents and Oceans: Opportunities for Deepening Integration”. The event will be livestreamed on CARICOM’s Youtube and Facebook pages. You can watch it below:

    CARICOM Today notes that participants will include “Heads of State and Government of the Caribbean Community and the African Union, Chairs of CARICOM and the African Union Commission, and the Africa Regional Economic Communities (RECs), the Secretaries-General of CARICOM and the Organisation of the African Caribbean and Pacific States (OACPS), and the President of Caribbean Development Bank (CDB)”.

    The summit is the latest initiative in a push on both sides of the Atlantic for closer Africa-CARICOM ties which transcend traditional historic and cultural ties towards real commercial ties and deeper economic and cultural cooperation. As I noted in a previous piece back in 2019 entitled “Africa-Caribbean Trade: What are the prospects?“, current Africa-Caribbean trade remains small, but the prospects for expanded Africa-Caribbean trade are promising given four main factors: (1) Caribbean countries’ push for export partner diversification, (2) Africa is on the rise, (3) increased Caribbean-African awareness such as the Timaya-Machel collaboration, (4) the signing of the Africa Continental Free Trade Agreement (AfCFTA). I had further argued in that piece that “since it is firms which trade and not countries, building linkages between chambers of commerce and investment promotion agencies in the Caribbean and African countries would also be key”.

    On another note, starting Monday, 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 will be released daily (from Monday) and can be read on the Afronomics Law Blog. Deepest appreciation to our expert contributors for their invaluable contributions!

    The CTLD Blog wishes the organisers a successful CARICOM-Africa summit. I sincerely hope that the results go more beyond simply a lengthy communique of hortatory goals, but there will be a concrete action plan on deepening CARICOM-African ties.

    Alicia Nicholls, B.Sc., M.Sc., LL.B. is a trade and development consultant with a keen interest in sustainable development, international law and trade. All views herein expressed are her personal views and should not be attributed to any institution with which she may from time to time be affiliated. You can read more of her commentaries and follow her on Twitter @LicyLaw.

  • My Opinio Juris piece: Will FDI help or hinder SDG achievement in the Caribbean?

    My Opinio Juris piece: Will FDI help or hinder SDG achievement in the Caribbean?

    This week I was pleased to contribute a piece to a timely Investment Law Symposium entitled “Is Foreign Direct Investment a Blessing or a Grift?” on the renowned Opinio Juris academic blog. The convenors were Prof. Mohsen Al Attar and Dr. Rafael Quintero Godinez. My piece looked at whether FDI can help or hinder achievement of the sustainable development goals in the Caribbean.

    If this is an area of interest, I encourage you to have a read of the excellent and thought-provoking contributions to this Symposium by renowned academics in the investment law and policy field.

    My piece may be accessed here.

  • CARICOM DECLARATION ON REDEDICATION TO CSME IMPLEMENTATION

    Heads of Government of the Caribbean Community
    ST JOHN’S DECLARATION
    ON REDEDICATION TO CSME IMPLEMENTATION
    WE, the Heads of Government of the Caribbean Community (CARICOM), meeting virtually on 5-6 July 2021 for the Forty-Second Regular Meeting of the Conference of Heads of Government of CARICOM;

    Recognising that the commitments made in our 2018 ST ANN’S DECLARATION ON THE CARICOM SINGLE MARKET AND ECONOMY (CSME) to inter alia, take action at the national level to advance the regional integration agenda, have for the most part not materialised;

    Reiterating our conviction that CARICOM integration and particularly the CSME continue to be important for the growth and development of the Member States of CARICOM especially in the face of the debilitating impact of the COVID-19 pandemic which has absorbed the focus of Member States  over the past fifteen months and more;

    Conscious of the vastly different economic environment that is currently prevailing;

    DECLARE:
    We have all individually and collectively recommitted to take all action necessary to ensure timely and effective implementation of the CSME, especially in light of the challenges of the current demanding environment.

    We have agreed that achieving full implementation of the CSME would require immediate specific action by the Organs and Bodies of the Community, Cabinets and Ministries of Member States, stakeholders (particularly the private sector) and the CARICOM Secretariat.
    We have agreed to have regular inclusion of the CSME as an item on the Agenda of Cabinet meetings.

    We have also agreed to give specific and focused attention to ensuring that our governance and accountability mechanisms and structures at the national and regional levels are made sufficiently robust for effecting the required CSME implementation including a greater oversight role for our Ambassadors to CARICOM.

    We have endorsed the COTED decision to convene a special session on CSME implementation before its next regular meeting in November 2021 to agree on other specific actions proposed for immediate implementation by the various stakeholders towards ensuring full implementation of CSME provisions and to approve an overall Action Plan for CSME implementation.

    Source: CARICOM Secretariat

  • SDG Index 2021: How did Caribbean countries perform?

    SDG Index 2021: How did Caribbean countries perform?

    Photo credit: The United Nations

    Alicia Nicholls

    The novel coronavirus (COVID-19) pandemic has been a significant setback for countries’ achievement of the 17 United Nations Sustainable Development Goals (SDGs) and their 169 targets. This was one of the main takeaways from the virtual launch of the Sustainable Development Report 2021: The Decade of Action for the Sustainable Development Goals on June 14.

    Released annually, the Sustainable Development Report is a key resource for tracking countries’ progress towards achievement of the SDGs which are part of the 2030 Agenda for Development agreed to by UN Member States, including those in the Caribbean, in 2015. The goals are ambitious, balancing all three elements of sustainable development: economic, social and environmental. Countries agree to achieve these goals by 2030 and this decade has been declared the ‘Decade of Action’ for the SDGs.

    A country’s rank on the SDG Index is determined by its overall score. This overall score measures a country’s total progress towards achieving all 17 SDGs, with a score of 100 being a perfect score, that is, complete achievement of all 17 SDGs. The score can be interpreted as a percentage of SDG achievement. The report also contains dashboards showing countries’ trends on the individual goals, subject to data availability.

    Top performers globally

    This year’s report ranked 165 countries. Overall, member states of the Organisation for Economic Cooperation and Development (OECD) are nearer to achieving the targets than any other country group, according to the Report. Finland tops the SDG Index 2021 with an overall score of 85.90, followed by Sweden, Denmark, Germany and Belgium to round out the top 5 performing countries. However, no country in the world has a perfect score nor is on track for achieving all the goals by 2030.

    Bangladesh has registered the most progress towards SDG achievement, followed by Afghanistan and Cote d’Ivoire. Indeed, East  and South Asia was revealed to be the region which has progressed the most on the SDGs. Brazil, Venezuela and Tuvalu were the countries which registered the most marked declines.

    Caribbean countries’ performance

    Many SIDS, including from the Caribbean, are not ranked on the SDG Index due to insufficient data. For those Caribbean countries ranked, Cuba was the highest with a rank of 49 followed by the Dominican Republic (67). Among countries of the Caribbean Community (CARICOM), Jamaica is the highest ranked at 81 out of 165 countries and a score of 69, a modest improvement from its score of 68.7 on the 2020 index.

    Jamaica is followed in rank by Barbados (83), Suriname (91), Belize (104), Trinidad & Tobago (108), Guyana (128) and Haiti (150). Jamaica and Barbados were the only two CARICOM countries to see an improvement in their overall score compared to 2020 levels. Suriname, Belize, Trinidad & Tobago, Guyana and Haiti saw declines in their overall scores towards SDG progress.

    Country profiles are however included even for those countries which are unable to be ranked on the index due to data shortages.

    Some key take-aways from the report

    The authors described 2020 as a ‘major setback for sustainable development’. For the first time since the SDG Index has been published, there has been a global decline in goal achievement driven in great part by an increase in extreme poverty and unemployment largely as a result of the COVID-19 pandemic.

    The report noted that there remains a gap between countries’ SDG commitments and implementation/mainstreaming. This must be addressed if the goals are to be achieved by 2030. The Report called for strong multilateral action to make the ‘Decade for Action’ count.  The authors further pointed to the need for a significant increase in fiscal space, global tax reform and expanded financing by multilateral development banks and debt relief to restore SDG progress in developing countries.

    The Report also contained a 2021 International Spillover Index which demonstrated how rich countries can generate negative socioeconomic and environmental spillovers undermining poorer countries’ ability to mobilise the financial resources needed to achieve the SDGs. Indeed, it highlighted how unsustainable trade and supply chains and tax havens and profit shifting in many rich countries undermine other countries’ ability to mobilize needed financial resources to achieve the SDGs.

    The report was prepared by teams of independent experts at the Sustainable Development Solutions Network (SDSN) and the Bertelsmann Stiftung and was authored by Jeffrey Sachs, Christian Kroll, Guillaume Lafortune, Grayson Fuller and Finn Woelm.

    The full SDG Report 2021 may be accessed here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B. is a trade and development consultant with a keen interest in sustainable development, international law and trade. All views herein expressed are her personal views and should not be attributed to any institution with which she may from time to time be affiliated. You can read more of her commentaries and follow her on Twitter @LicyLaw.