Category: CARICOM

  • Caribbean Trade and Development News Digest – June 12-18, 2022

    Caribbean Trade and Development News Digest – June 12-18, 2022

    Welcome to our Caribbean Trade and Development News Digest covering the week of June 12-18, 2022! A happy Father’s Day to all CTLD Blog readers who are fathers and father figures! 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

    It has been a pretty nail-biting week in the world of trade. The biggest development, of course, is that the WTO’s Twelfth Ministerial Conference (MC12) after going into overtime was able to reach outcomes on a package of issues, informally dubbed the ‘Geneva Package’. While there was need for much compromise and some other key things have been left for future work, many commentators laud the outcomes, specifically because they give the WTO a shot of much needed success at a time of growing questions about the organisation’s continued relevance and effectiveness.

    The existing e-commerce customs duties moratorium has been extended for two more years, while a TRIPS Waiver was finally agreed but on vaccine production only and for five years. Perhaps most significantly, the WTO has reached an agreement on disciplining fisheries subsidies. Although there have been reservations expressed about the ‘watered down’ nature of the fisheries subsidies agreement, it is only the second multilateral trade agreement concluded in the WTO’s 25-plus year history and has been dubbed, therefore, a needed win for the organisation.

    Earlier this month, the Summit of the Americas 2022 saw the announcement of a US climate climate initiative for the Caribbean. Read Ambassador Ron Sanders’ commentary on the Summit here.

    The Financial Action Task Force (FATF) held its June plenary. Barbados, Cayman Islands, Haiti, Jamaica remain among the countries listed on FATF’s grey list as of June 2022, while Malta has been removed from that list.

    The COVID-19 pandemic and the fall-out from the Russia-Ukraine conflict continue to negatively impact global supply chains, leading to spiralling inflation and rising fuel costs. The Federal Reserve of the US has implemented the biggest interest rate hike since 1994 in an effort to cool the spiralling inflation and prevent a recession.

    Finally, be sure to read this insightful article by guest contributor Lucius S.J. Doxerie examining the prospects of trade for promoting economic growth in Least developed countries here!

    REGIONAL NEWS

    Guyana tops list of Britain’s Caribbean trade partners

    Stabroek: One of the more recent indicators of external perceptions of the state of health of the Guyana economy was reflected in the pronouncement by British High Commissioner to Guyana, Jane Miller, on Thursday July 2 that Guyana has now positioned itself as Britain’s top trade partner in the Caribbean. Read more

    Caribbean and African Development Banks ink deal

    Turks & Caicos Weekly: The Caribbean Development Bank and the African Development Bank have joined forces to promote trade between the regions and will work together on the sustainable development of MSMEs. Read more

    CDB looking at an integrated logistics transportation system for the region

    Barbados Today: The Caribbean Development Bank (CDB) says it is looking at “an integrated logistics transportation system” for the region which would focus on developing various aspects of infrastructure such as ports, roads, farms, storage, warehousing, and standards. Read more

    Promoting sustainable fisheries trade in Eastern Caribbean

    UNCTAD: Eastern Caribbean island nations Grenada, Saint Lucia, and Saint Vincent and the Grenadines have committed to a regional Blue BioTrade action plan to sustainably harvest and trade queen conch. Read more

    Foreign direct investment to Latin America and the Caribbean rebounded by 56% in 2021

    UNCTAD: Foreign direct investment (FDI) in Latin America and the Caribbean has rebounded from the pandemic-induced slump, growing by 56% to $134 billion in 2021, according to UNCTAD’ World Investment Report 2022 published on 9 June. Read more

    FACT SHEET: Vice President Harris Launches the U.S.-Caribbean Partnership to Address the Climate Crisis 2030 (PACC 2030)

    Whitehouse: Vice President Harris announced the U.S.-Caribbean Partnership to Address the Climate Crisis 2030 (PACC 2030). PACC 2030 is the Biden-Harris Administration’s new initiative involving fresh commitments to — and integration of — climate adaptation and resilience and clean energy programs across the Caribbean region. Read more

    CARICOM trying to restore correspondent banking – Belize PM

    Amandala: At the first official press conference held by the Prime Minister since his being elected into office in November 2020, Hon. John Briceño spoke on several foreign affairs issues concerning the country and the region, including correspondent banking. Read more

    Colombia, CARICOM Countries Open Talks to Update Trade Agreement

    Finance Colombia: Colombia and the CARICOM member countries (Caribbean Common Market) reported advances during an initial meeting held seeking to deepen the Partial Scope Agreement, in force since 1995. Read more

    INTERNATIONAL NEWS

    AfCFTA Positive On Intra-African Trade Levels-Survey

    East Africa Business Week: For the third year running, the Pan-African Private Sector Trade and Investment Committee (PAFTRAC) have partnered with African Business magazine for the Africa CEO Trade Survey. Read more

    WTO strikes global trade deals after ‘roller coaster’ talks

    Reuters: The World Trade Organization agreed on the first change to global trading rules in years on Friday as well as a deal to boost the supply of COVID-19 vaccines in a series of pledges that were heavy on compromise. Read more

    Commonwealth leaders set to meet for first time in four years

    Commonwealth: Leaders from 54 countries will gather in Kigali, Rwanda, this week for the 2022 Commonwealth Heads of Government Meeting (CHOGM), the sixth time the event has been hosted by an African country. The week-long summit is expected to attract over 5,000 participants from government, business, and civil society under the theme ‘Delivering a Common Future: Connecting, Innovating, Transforming’. Read more

    NI Protocol: UK reveals plans to ditch parts of EU Brexit deal

    BBC: The UK government has published plans to get rid of parts of the post-Brexit deal it agreed with the EU in 2019.It wants to change the Northern Ireland Protocol to make it easier for some goods to flow from Great Britain to Northern Ireland. Read more

    EU set to take legal action against UK over post-Brexit deal changes

    BBC: The EU is expected to launch legal action against the UK government on Wednesday over its decision to scrap some post-Brexit trade arrangements. Ministers insist current checks on some goods travelling from Great Britain to Northern Ireland must end to avoid harm to the peace process. Read more

    EU refuses to rule out suspending Brexit trade deal

    Euronews: The European Commission won’t rule out suspending the EU-UK trade deal if the UK approves a draft bill that unilaterally overrides parts of the Brexit agreement. Read more

    European Commission backs Ukraine for EU candidate status

    Al Jazeera: Commission gives a fast-tracked opinion on membership of the bloc before a summit of EU leaders on June 23-24. Read more

    EU signs gas deal with Israel and Egypt

    Al Jazeera: The European Union, Israel and Egypt have signed a tripartite natural gas export deal as the bloc seeks to diversify away from Russian energy. Read more

    STRAIGHT FROM THE WTO

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  • Caribbean Trade and Development News Digest – February 28 – March 5, 2022

    Caribbean Trade and Development News Digest – February 28 – March 5, 2022

    Welcome to our Caribbean Trade and Development News Digest covering the week of February 28-March 5, 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

    As the unprovoked Russian invasion of Ukraine intensifies, western countries have stepped up their economic and financial sanctions of Russia. Canada suspended MFN treatment of imports from Russia and its ally Belarus, while the EU announced it is considering similar actions against Russia. Additionally, as Bloomberg’s Bryce Baschuk tweeted, “the US and EU suspended Russia from participating in activities of the developed countries coordinating group”. The invasion and the concomitant sanctions are already having ripple effects. IMF First Deputy Managing Director Gita Gopinath noted “cost of living is expected to rise sharply in many countries as energy and food prices skyrocket”. Read here.

    The WTO’s fourth review of Guyana’s trade policies and practices took place on 2 and 4 March 2022. The basis for the review is a report by the WTO Secretariat and a report by the Government of Guyana. Read more here.

    Caribbean Community (CARICOM) Heads of Government held their 33rd Inter-sessional meeting in Belize this week. The communique from the meeting may be accessed here. The Caribbean Court of Justice (CCJ) also dismissed an application by Rock Hard Cement challenging Trinidad & Tobago’s decision to raise the price of imported cement.

    My latest article “Do Caribbean countries International Investment Agreements help or hurt their climate action” was published in the Caribbean Studies Association (CSA) newsletter. Read it here.

    REGIONAL NEWS

    CARICOM leaders agree to review decision-making process

    Stabroek: With CARICOM long accused of moving too slowly in implementing the Single Market and Economy (CSME), regional leaders have now agreed to modify the way decisions are taken in an effort to be more proactive. Read more

    CARICOM Heads concerned about UK backed Inquiry into the BVI

    Jamaica Observer: Caribbean Community (Caricom) leaders have expressed “deep concern” with the United Kingdom-backed Commission of Inquiry into allegations of corruption in the British Virgin Islands (BVI), listing among their concerns the “lack of transparency.” Read more

    CARICOM SG wants improved intra-regional trade by 2025

    BarbadosToday: Caribbean Community (CARICOM) Secretary General, Dr. Carla Barnett has called on regional countries to improve intra-regional trade by 25 per cent by 2025 as she urged regional leaders to ensure that the CARICOM Single Market and Economy (CSME) functions for the benefit of the people of the Caribbean. Read more

    ‘No threat to Guyana’s local content law’ – Pres. Ali

    Newsroom Guyana: Heads of Government of the Caribbean Community (CARICOM) will discuss acceptable local content provisions, particularly for new industries, but President Dr. Irfaan Ali is certain that these discussions pose no threat to Guyana’s historic Local Content law. Read more

    CARICOM to review and examine local content issue in relation to CSME

    News Source Guyana: When the Government of Guyana took the local content legislation to the National Assembly for debate and passage, the Opposition while supporting the legislation, raised concern about whether some sections of the legislation went against the CARICOM Treaty of Chaguaramas which provides for the free movement of goods, labour, capital and the rights of establishment in the CARICOM Single Market. Read more

    SVG signs MOU with Caribbean private sector organisation to boost investments in agriculture

    Searchlight: The CARICOM Private Sector Organization (CPSO) and this country’s Ministry of Agriculture, have entered a Memorandum of Understanding (MOU) that establishes a formal, structured mechanism for substantive and effective cooperation between the Government of St. Vincent and the Grenadines (SVG) and the CPSO for mobilising and facilitating private sector investments in strategic sectors of SVG. Read more

    INTERNATIONAL NEWS

    WTO to host Global Supply Chains Forum to explore ways of easing disruptions to trade

    WTO: The WTO will bring together on 21 March stakeholders from every part of global supply chains to share perspectives on the causes of continued supply chain disruptions and to work together on ways to mitigate their impact on global trade and post-pandemic economic recovery. The forum will be opened by Director-General Ngozi Okonjo-Iweala and will be attended by WTO members and representatives from shipping, trading and logistics companies. It will be held virtually, with livestreaming available on the WTO website. Read more

    Canada cuts Russia and Belarus from Most-Favoured-Nation Tariff treatment

    Canada.ca: Russia’s invasion of Ukraine, supported by Belarus, is a violation of international law and threat to the rules-based international order. Canada is taking further action to ensure those who do not support the rules-based international order cannot benefit from it. Read more

    EU considers suspending equal treatment for Russia at the WTO

    Reuters: The European Union said it waslooking into suspending ‘most-favoured nation’ (MFN) treatment for Russia at the World Trade Organization over Moscow’s invasion of Ukraine, meaning the bloc would be able to hike tariffs or set quotas on Russian imports. Read more

    Ukraine introduces export licenses for key agricultural commodities

    Financial Post: Ukraine has introduced export licenses for agriculture commodities wheat, corn and sunflower oil, Interfax Ukraine news agency quoted a government resolution as saying on Sunday. Read more

    Africa: China-Africa Trade Reaches All-Time High in 2021 … Showing Resilience Amid Pandemic

    AllAfrica: China-Africa trade has bucked the global economic downward trendand analysts believe it has contributed to the African economy’s resilience in the face of COVID-19 challenges. Read more

    Under-reporting of AfCFTA detrimental to investments – report

    Business Day (Nigeria): Despite the opportunities the African Continental Free Trade Area(AfCFTA) presents, its coverage in terms of business news and analysis is under-reported and this is detrimental to investments, the latest Business in Africa Narrative Report says. Read more

    UK considers using Brexit ‘freedom’ to allow pesticides banned in EU on food

    Independent (UK): The government is considering using its new Brexit regulatory freedom to allow pesticides banned in the EU on food imported to the UK. Read more

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  • COMMUNIQUÉ: ISSUED AT THE CONCLUSION OF 33RD INTERSESSIONAL MEETING OF THE CONFERENCE OF HEADS OF GOVERNMENT OF CARICOM – 1-2 MARCH 2022

    COMMUNIQUÉ: ISSUED AT THE CONCLUSION OF 33RD INTERSESSIONAL MEETING OF THE CONFERENCE OF HEADS OF GOVERNMENT OF CARICOM – 1-2 MARCH 2022

    (CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana – Thursday, 3 March 2022)   –   The Thirty-Third Inter-Sessional Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) was held on 1-2 March 2022.  Chair of the Conference, the Prime Minister of Belize, the Honourable John Briceño presided over the proceedings.

    Other Members of the Conference in attendance were: Prime Minister of Antigua and Barbuda, the Honourable Gaston Browne (virtually); Prime Minister of The Bahamas, the Honourable Philip Davis; Prime Minister of Barbados, the Honourable Mia Amor Mottley, Q.C; MP;  Prime Minister of Dominica, the Honourable Roosevelt Skerrit; Prime Minister of Grenada, Dr. the Rt. Honourable Keith Mitchell; President of Guyana, His Excellency           

    Dr. Mohamed Irfaan Ali; Prime Minister of Haiti, the Honourable Ariel Henry; Prime Minister of Jamaica, the Most Honourable Andrew Holness (virtually); Premier of Montserrat,  the Honourable Easton Taylor-Farrell; Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris (virtually); Prime Minister of Saint Lucia, the Honourable Phillip Pierre (virtually); and President of Suriname, His Excellency Chandrikapersad Santokhi.

    St. Vincent and the Grenadines was represented by Deputy Prime Minister and Minister of Transport, Works, Lands and Physical Planning, the Honourable Montgomery Daniel; Trinidad and Tobago was represented by the Minister of Foreign and CARICOM Affairs, Senator the Honourable Dr. Amery Browne.

    Associate Members in attendance were: Bermuda represented by the Hon. Walter H. Roban Deputy Premier and Minister of Home Affairs; British Virgin Islands represented by Deputy Premier, the Honourable Dr. Natalio Wheatley; and the Turks and Caicos Islands represented by Premier the Honourable Charles Misick.


    OPENING CEREMONY
    Secretary-General, Her Excellency Dr. Carla Barnett, immediate past Chair, the Honourable Gaston Browne, Prime Minister of Antigua and Barbuda and Chair of Conference, the Honourable John Briceño, the Prime Minister of Belize addressed the Opening.

    The Secretary-General noted that the Community over the 49 years of its existence has been bound together, particularly, in times of adversity and this was such a time.  She advised that going forward, as CARICOM celebrates its 50th Anniversary, it must use its achievements as the foundation for building a resilient Caribbean Community.

    The Prime Minister of Antigua and Barbuda stated that the Community must continue to be vigilant in managing the threats to sustainable development including de-risking, the proposed global minimum corporation tax and sanction-listing of so-called uncooperative jurisdictions by the OECD and  European Union.  

    Climate change, he said, remained the most significant existential threat facing all of humanity   and noted the hopes of people in so many countries around the world, for meaningful action on the climate emergency, were dashed against the rocks of the obstinate and selfish attitudes of developed countries and large corporations assembled at COP26 in Glasgow, last November.

    The Chair of the Conference, Prime Minister of Belize stated that the Thirty-Third Inter-Sessional Meeting was a particularly consequential meeting which was taking place at a time when unprecedented and existential challenges coincided with our citizens’ expectations for relief and prosperity.

    He condemned in the strongest terms the unjustified invasion of Ukraine by Russia and called for an immediate cessation of hostilities and immediate and unilateral withdrawal of all Russian troops from Ukraine.

    The Prime Minister observed that CARICOM was contending with the worst economic recession in modern history. To foster our recovery, he said the Community needed to rekindle the founding vision of CARICOM both with respect to the scale of its ambition for integration, and the speed which was needed to achieve its consolidation. Our recovery, he said should be aligned to a new regional agenda that was centred around creating prosperity for the people.

    All the Statements are available at www.caricom.org.

    AGREEMENTS SIGNED
    Agreement on the Return or Sharing of Recovered Assets – The Bahamas and Belize

    Protocol to Amend Article 32 of the Revised Treaty of Chaguaramas establishing the Caribbean Community including the CARICOM Single Market and Economy (with respect to the definition of a CARICOM national) – Belize

    Protocol to Amend the Revised Treaty of Chaguaramas establishing the Caribbean Community including the CARICOM Single Market and Economy to Allow Enhanced Cooperation among Member States and to Address Related Issues – Barbados, Belize, Dominica and Grenada

    Instrument of Ratification -Multilateral Air Services Agreement – Deposited by Jamaica


    COVID-19 AND ITS IMPACT ON THE REGION
    Heads of Government acknowledged continued comprehensive response to COVID-19 in the Region the Caribbean Public Health Agency’s (CARPHA), the CARICOM Secretariat’s and the Pan-American Health Organisation’s.

    They agreed that Member States would continue to support the multi-sectoral and inter-sectoral regional public health response that has been successfully led by CARPHA supported by the Regional Security System (RSS) and other Regional Institutions.

    They also acknowledged that the economic impact of the COVID-19 pandemic has required that Member States re-imagine their development strategies and global economic engagement towards building back better with more sustainable and resilient economies. In that regard they mandated the Caribbean Development Bank (CDB), to coordinate the formulation of a regional resource mobilisation strategy to raise the funding required to drive the economic recovery programme.

    Heads of Government stressed the need for the continuation of public health measures including masks, testing, isolation and quarantine and supported CARPHA’s recommendations for safe and sustainable air and sea travel to protect the Region.

    Heads of Government noted the challenges in achieving desired levels of vaccination. They therefore agreed to mount a regional campaign to combat the disinformation that encourages vaccine hesitancy.

    Heads of Government agreed to explore a regional strategy for manufacturing vaccines in the Region.

    CARICOM SINGLE MARKET AND ECONOMY (CSME)
    Heads of Government agreed that implementation of the CSME is the Region’s best option for responding to the current development challenges and for building a more resilient Region.  They further agreed that immediate urgent action on CSME implementation was imperative. In that regard they endorsed the Action Plan for an Effective CSME and proposals for immediate action involving the Organs of the Community, Cabinets and Ministries of Member States, stakeholders, particularly the private sector, and the CARICOM Secretariat to hasten implementation. 

    Heads of Government adopted and opened for signature the Protocol to Amend the Revised Treaty of Chaguaramas Establishing the Caribbean Community including the CARICOM Single Market and Economy to allow Enhanced Cooperation among Member States and to address Related Issues. 
    They agreed that Suriname would assume the portfolio of Industrial Policy in the CARICOM Quasi-cabinet of Heads of Government.

    Heads of Government also agreed to review the governance systems within the Community to facilitate more effective decision-making and to ensure follow-up on the Community agenda.

    They requested that urgent attention be given to the strategy for development of the energy sector including the CARICOM Energy Policy (both in respect of fossil fuels and renewables) as well as to address the issue of local content.

    Heads of Government established an Open-Ended Working Group on Local Content for Sunrise Industries with core membership from Antigua and Barbuda, Barbados, Belize, Guyana, Jamaica, Saint Lucia, Suriname and Trinidad and Tobago. They also agreed that the CARICOM Private Sector Organisation (CPSO) would participate in the Working Group.

    They mandated the Secretariat to undertake further work on identifying ten (10) major non-food items imported into the Region for which there is production capacity and potential and significant demand considering that these could constitute priority products for investment and trade within the Community.

    Heads of Government agreed that early decision-making as well as cross-sectoral inter-agency regional and national actions were needed to support the economic recovery and transformation of CARICOM Member States.

    They therefore agreed to resuscitate the CARICOM Economic Recovery and Transformation (CERT) Working Committee under the guidance of Prime Minister Mottley, to serve as a clearinghouse for the many recommendations being tabled and to guide the economic recovery and transformation process in the Community.

    They also agreed that the Working Committee would be open-ended, with core membership comprised of The Bahamas, Barbados, Belize, Grenada, Guyana, Jamaica, Trinidad and Tobago, and the Governor of the Eastern Caribbean Central Bank (ECCB); and would be coordinated by the Secretary-General.  They further agreed to include the President of the Caribbean Development Bank, the Chief Executive Officer of the CARICOM Development Fund and the Chair of the CARICOM Commission on the Economy as members of the Committee.

    REGIONAL FOOD AND NUTRITION SECURITY
    Heads of Government commended the Ministerial Task Force (MTF) on Food Production and Food Security, and the leadership of His Excellency Dr. Mohammed Irfaan Ali, President of the Co-operative Republic of Guyana, Lead Head of Government in the CARICOM Quasi Cabinet for Agriculture, on the work completed in advancing the CARICOM Agri-Food Systems Agenda.

    They highlighted the importance of addressing key issues, including Climate Smart Agriculture, Land Reform, Transportation, Regional Infrastructural Development, Public-Private Partnerships, Legislative Reform, improving production and productivity, and incentives to encourage the sector.

    Heads of Government agreed to modernise current production methods including digitalization and greater use of technology, emphasise human resource development including youth involvement, and focus on research and development.

    Heads of Government recognised the challenges to the achievement of the reduction of the Region’s food import bill by 25 per cent by 2025 and the need for increased financial support, including though national budgets. In that regard, they committed to addressing the investment required and the attendant implementation timelines to achieve that objective and agreed to the staging in Guyana of an Agricultural Investment Conference on 19-21 May 2022 to accelerate the process of identifying alternative financing solutions.

    They welcomed Guyana’s offer of 25,000 acres of land to facilitate corn and soya production as well as to train 30 persons in the construction of shade houses aimed at increasing agricultural productivity and output.

    Heads of Government also welcomed the offer of Suriname of land for agricultural production.

    Heads of Government undertook to intensify efforts to remove all Non-Tariff Barriers to intra-regional trade.

    ENGAGEMENT WITH THE PRIVATE SECTOR
    Heads of Government received a presentation from the CARICOM Private Sector Organisation (CPSO) and undertook to review the proposals put forward.

    SECURITY
    Heads of Government received a report from the Chair of the Council for National Security and Law Enforcement (CONSLE).

    Heads of Government agreed that the support and cooperation of major partners, both nationally and regionally, including strong information and intelligence sharing were required to win the battle against Transnational Organised Crime.

    Heads of Government agreed to support the development of a regional Crime Guns Intelligence Unit which would function as an early warning system and a support mechanism for national firearms investigations.

    Heads of Government also agreed that there was urgent need for both intra-regional and international cooperation to address effectively maritime and cyber threats.

    Heads of Government agreed that the Caribbean Automated Biometric Identification System (CABIS) was necessary, especially as the Region moved toward full implementation of the CARICOM Single Market and Economy (CSME), in support of the free movement of CARICOM citizens and residents.

    They mandated the CARICOM Secretariat and CARICOM IMPACS to conduct needs assessments for a regional data privacy policy as well as the legislation required to cover such a System.

    HAITI
    Heads of Government received a presentation on the situation in Haiti from interim Prime Minister the Honourable Ariel Henry. The Prime Minister underlined that democracy is in decline, institutions are dysfunctional and collapsing. He spoke of the need to restore democracy and the constitutional framework through elections, to address insecurity, and to lay the foundation for future development.

    Heads of Government expressed concern over the protracted political impasse, the ongoing humanitarian crisis and mounting insecurity, and the repercussions for the Region of escalating instability.

    Heads of Government requested clear direction from the Government of Haiti with regard to the assistance required and, in this regard, agreed to the establishment of a CARICOM Team to interface with its Haitian counterparts and with the international community.

    Heads of Government welcomed the suggestion from the Prime Minister of Haiti that the Community could assist in facilitating dialogue, addressing insecurity, building democracy, staging the elections, training the police, and assisting the investigation into the assassination of President Jovenel Moïse.

    Heads of Government stressed the importance of ensuring good governance and respect for the rule of law and human rights as set out in the CARICOM Charter of Civil Society and underlined the importance of including civil society in the process of dialogue.

    Heads of Government commended Guyana for its commitment to provide rice to Haiti in view of the ongoing humanitarian crisis

    COP26 – FOLLOW-UP
    Heads of Government expressed concern that the overall COP26 package did not adequately address the pressing and urgent needs of Small Island and low-lying coastal Developing States (SIDS), in confronting the accelerating impacts of climate change and in meeting the requirements for climate resilience and adaptation.

    They reiterated their urgent call for a systematic global response to provide SIDS with adequate and predictable financial support to address loss and damage.  They further noted that the decisions were largely focused on process, so were unlikely to go far enough to keep 1.5 C alive.

    Heads of Government stressed the need for the financing of adaptation to be grant funds or not to be included in the debt profile of SIDS. They reiterated their support for the use of a Climate Vulnerability Index as the determining factor for access to concessional financing instead of GDP per capita.

    Heads of Government agreed to convene a special meeting on Access to Climate Finance and for a team to work on preparations for this special meeting.

    Heads of Government also agreed to support Antigua and Barbuda as Chair of the Alliance of Small Island States for the convening of a UNGA Special Session on the dire findings and projections of the latest International Panel on Climate Change report.

    Heads of Government agreed to remain fully engaged in the Global Climate Change Agenda and mandated the Council for Trade and Economic Development (COTED) – Environment to convene no later than June 2022, to further review progress on the achievement of the Region’s goals and priorities in relation to Global Climate Action and its related multilateral processes and to report to the next meeting of the Conference of Heads of Government.

    Heads of Government called on the CARICOM Secretariat and the Caribbean Community Climate Change Centre (CCCCC) to follow up on the recommended Next Steps of the COP 26 assessment matrix, to monitor the Roadmap to COP 27 and to update the COTED as necessary.

    Heads of Government agreed that the Community should pursue financial support from donors to assist the CCCCC to facilitate Regional consultations and coordination regarding the global goal on adaptation, the new quantified goal on climate finance, and the Glasgow Dialogue on Loss and Damage.

    They mandated the CCCCC to continue to explore options to enhance support to Member States in their efforts to access funding for further elaboration and implementation of climate adaptation plans, long-term strategies, capacity building for transparency, and other identified priorities.

    Heads of Government indicated their support for Vanuatu in its pursuit of an Advisory Opinion from the International Court of Justice on the rights of present and future generations to be protected from Climate Change.

    A Declaration outlining CARICOM’s assessment of the Outcomes of COP 26 and its expectations for COP27 is attached

    BRITISH VIRGIN ISLANDS/SELF-GOVERNANCE
    Heads of Government expressed deep concern about the lack of transparency and the manner in which the UK-backed Commission of Inquiry into the British Virgin Islands was called and is operating without having obtained all the legally required approvals.

    Heads of Government reiterated their call for the constitutional position of the duly elected Government to be respected and for self-governance to be upheld and not impeded.

    Heads of Government called for the implementation of the UN resolution on the question of the British Virgin Islands adopted by the 76th UN General Assembly on 9 December 2021, which calls for self-governance and self-determination in the Virgin Islands to be respected.

    Heads of Government agreed to adopt a unified position at the relevant UN decolonization fora in support of the self-determination of the British Virgin Islands.

    BORDER ISSUES (Caucus)

    • Belize-Guatemala Relations

    Heads of Government received an update on the status of Belize and Guatemala relations, including Guatemala’s Territorial, Insular and Maritime Claim (Guatemala/Belize) at the International Court of Justice. They noted that Belize will submit its Counter Memorial by June 2022.

    Heads reiterated the importance of Belize, Guatemala and the OAS continuing to fully implement the existing Confidence Building Measures. They also reiterated their call for both countries and the OAS to finally fulfil their commitment to design a mechanism of co-operation for the Sarstoon River.

    They expressed appreciation for the role of the OAS in accompanying the process and called on the international community to increase support for the OAS Office in the Adjacency Zone.

    Heads of Government reaffirmed their steadfast support for the sovereignty, territorial integrity and security of Belize. 

    • Guyana-Venezuela Relations

    Heads of Government received an update on the most recent developments in the controversy between the Cooperative Republic of Guyana and the Bolivarian Republic of Venezuela.

    They noted that Guyana will be submitting its Memorial on 8 March 2022 in accordance with the schedule set by the International Court of Justice to hear the case on the merits of Guyana’s application concerning the validity of the Arbitral Award of 1899 and the related question of the definitive settlement of the land boundary between the two countries.

    Heads of Government reiterated their full support for the ongoing judicial process that is intended to bring a peaceful and definitive end to the long-standing controversy between the two countries and urged Venezuela to participate in the process.

    Heads of Government reaffirmed their firm and unwavering support for the maintenance and preservation of the sovereignty and territorial integrity of Guyana.

    ROAMING RATES IN CARICOM
    Heads of Government welcomed the signing of the Declaration of St George’s Towards the Reduction of Intra CARICOM Roaming Charges to Facilitate the CARICOM Single ICT Space and the CARICOM Single Market and Economy. They noted that while the new roaming arrangement did not provide for complete elimination of roaming charges within the CARICOM space, operators indicated that savings would be on the order of 70-98 per cent depending on the service and the market. 

    Heads of Government stated it was an interim but significant milestone with respect to the Single ICT Space Roadmap.

    Heads of Government agreed to the establishment of a single regulatory space for telecommunications in CARICOM.

    Heads of Government commended the Prime Minister of Grenada, the lead Head of Government with responsibility for Science and Technology in the Quasi-Cabinet and the Prime Minister of Barbados the Honourable Mia Amor Mottley for leading this exercise.

    ORDER OF THE CARIBBEAN COMMUNITY
    Heads of Government agreed to bestow the Order of the Caribbean Community on the former Secretary-General Ambassador Irwin LaRocque of Dominica for his service to the Community.

    THE COMMONWEALTH
    Heads of Government expressed their overwhelming support for the re-election of Baroness Patricia Scotland as Secretary-General of The Commonwealth.

    DATE AND VENUE OF THE FORTY-THIRD REGULAR MEETING OF THE CONFERENCE

    The President of Suriname will assume the Chair of the Conference for the six-month period commencing 1 July 2022.  The 43rd Regular Meeting of the Conference will be held in early July 2022.

    STATEMENT OF THE CONFERENCE OF CARICOM HEADS OF GOVERNMENT ON THE WAR AND HUMANITARIAN CRISIS IN UKRAINE

    We, the Heads of State and Government of the Caribbean Community strongly condemn the military attacks and invasion of Ukraine by the Russian Federation and call for an immediate ceasefire and an end to all acts of aggression, the urgent withdrawal of Russian military forces in Ukraine. Any concerns the Russian Federation may have must be resolved diplomatically and not through warfare.

    We reaffirm the purposes and principles of the United Nations Charter and call for respect for the territorial integrity and sovereignty of Ukraine.

    We call on all parties involved to urgently intensify diplomatic dialogue and to immediately de-escalate hostilities and work towards sustainable peace. 

    The invasion of Ukraine is causing untold loss and destruction of life and property for the civilian population of Ukraine, including women and children, in violation of international humanitarian law, and has caused a growing humanitarian crisis.

    We express appreciation to the Governments and people of neighbouring countries who are extending humanitarian services to refugees fleeing Ukraine.  We are particularly concerned about the plight of and discrimination against non-European nationals and call for the guarantee of the safety and security of nationals of the Caribbean, Latin American and Africa and from those countries who are seeking to leave Ukraine.  In this regard, we underscore the importance of respect for human rights and the human dignity of persons in keeping with international commitments.

    We reiterate that the principles of respect for sovereignty, territorial integrity, non-interference in the internal affairs of another sovereign state, the prohibition on the threat or use of force, and the peaceful resolution of all disputes must be adhered to by all nations.


    The Caribbean as a Zone of Peace

    The Caribbean Community (CARICOM) is concerned that the military confrontation taking place in Europe could have repercussions in the Region.

    The Community strongly rejects any attempt to deploy military assets that can elevate tension and threaten the peace, territorial integrity, and sovereignty of this Region.

    The Community is resolute in its affirmation of the Caribbean as a Zone of Peace and calls on all countries to refrain from actions that undermine the Declaration made in 2014.

    2 March 2022
    Ambergris Caye Declaration on COP26 Outcomes and CARICOM Expectations in the lead up to COP27: “A Pathway from Ambition to Action”

    Recalling the Caribbean Community (CARICOM) Declaration on the 1.5 °C Ambition to Defend the Most Vulnerable

    Recalling further the regional priorities and expectations for the Glasgow Climate Change Conference aiming to consolidate global solidarity to close the gap for 1.5 °C ambition

    Taking note of the Glasgow Climate Pact and the decisions adopted by the respective governing bodies of the United Nations Framework Convention on Climate Change, the Kyoto Protocol, and the Paris Agreement

    Appreciating that the Glasgow Climate Change Conference focused the narrative of ambition on 1.5 °C and confirmed the role of science in informing ambition and accelerated action,

    Acknowledging that the Glasgow Climate Pact establishes work programmes to strengthen the 2030 emissions reductions targets, to support measurable progress on the global goal on adaptation, and to determine a new collective goal on climate finance by 2024, and further recognizes the start of the global stocktake and its importance to urgently address gaps in mitigation ambition, adaptation, loss and damage, and finance this decade to meet the goals of the Paris Agreement,

    Noting also the decision to initiate the Glasgow Dialogue on Loss and Damage and the finalization of the Paris Agreement Work Programme on common timeframes, transparency and article 6,

    Expressing grave concern that notwithstanding the pledges for net zero announced at the Conference, together with the range of voluntary initiatives launched during its Summit, according to the updated NDC Synthesis report, global warming is still projected to be 2.7°C in 2100, which confirms the latest findings of the Intergovernmental Panel on Climate Change AR6 Report, that on these trends 1.5 °C could be breached as early as this decade,

    Alarmed that emissions are expected to continue to rise to record breaking levelsas countries emerge from COVID-19, with 2021 seeing the second largest annual increase in CO2 emissions in history,

    Deeply concerned that developed countries support for climate action is incommensurate with the needs of developing countries to justly transition their societies and economies to low emissions climate resilient pathways and the increasing costs they face with rising emissions, the fast approaching or otherwise   breached tipping points, the compounding effects of the cumulative impacts of climate change on sustainable development, and unavoidable loss and damage,

    Particularly worried that despite being the least contributors to the climate emergency, Member States of the CARICOM face unsustainable and disproportionate debt burdens as they confront escalating climate impacts,

    Emphasizing thus the inexorable need to increase near term ambition, to accelerate urgent climate action, and increase and deliver timely support to developing countries, in this decade,

    Reiterating that limiting global warming to 1.5°C requires rapid, deep and sustained reductions in global greenhouse gas emissions, including reducing global carbon dioxide emissions by 45 per cent by 2030 relative to the 2010 level and to net zero around mid-century, as well as deep reductions in other greenhouse gases,

    Underscoring the need for an unequivocal political commitment that no effort shall be spared to strengthen emissions reduction targets of the major emitters as early as the end of 2022, and to enact the necessary measures to unlock and fast track the great potential of humanity, taking a an urgent and systematic approach, in line with principles of the Paris Agreement, and ensuring accountability and transparency, 

    Desiring thus for 2022 to initiate a roadmap from ambition to action with milestones for governments and non-state actors alike with COP27 as our first way point on the path to 1.5°C , the CARICOM Heads of Government,

    1. Affirm that for the Caribbean keeping global temperatures below 1.5°C is not an option, it is a matter of survival.
    2. Urgently call upon the international community to uphold its responsibility to protect the most vulnerable and maintain a central focus on the special case and particular circumstances of small island developing states (SIDS),
    3. Affirm that “Securing a safe climate future for the Caribbean” will remain under close consideration of the CARICOM Heads of Government with a view inter alia to elaborating further on the regional roadmap from ambition to action with a focus on articulating regional needs and priorities, forging new partnerships across the whole of society, and, strengthening CARICOM political engagement in multilateral processes to advance regional priorities,
    4. Endorse a Paris 2030 delivery agenda to include for 2022:
      1. At COP27 if not earlier, major economies plan for strengthened 2030 emissions reduction targets in line with the 1.5 °C Paris temperature goal and Low-emissions Development Strategies;
      2. Leading up to COP27, a US$100 billion finance dashboard progress report and at COP27, and during the High-level Ministerial Dialogue on Climate Finance, clarification on plans to scale beyond the floor of US $100 billion in the period through to 2025 taking into account the parity between adaptation and mitigation, and the additionality of loss and damage finance;
      3. Measures of progress on developed countries commitment to double adaptation finance from 2019 levels and to ensure that vulnerable countries are accessing and benefitting from these finance flows;
      4. Timely progress of technical work as called for in the Glasgow Climate Pact noting with appreciation the efforts of the COP Presidencies of the United Kingdom and of Egypt  to accelerate the work programmes geared towards clear deliverables at COP27;
      5. A timebound reform agenda for climate funds, multilateral development banks, and other finance providers to address SIDS access to grants and other concessionary finance arrangements in line with our urgent needs and priorities; and in this regard urge implementation and further elaboration of the call to action emanating from the second roundtable dialogue on SIDS and access to finance ;
      6. Allocation of an envelope of resources to SIDS under the Global Environment Facility Eighth Replenishment Process for capacity building and technology transfer including for the implementation of the enhanced transparency framework;
      7. Conclusion of elements for the full operationalization of Article 6 consistent with 1.5 °C ambition, accountability, transparency and environmental integrity;
    1. Welcome the focus of the UK COP Presidency on delivery, and urge the continued collaboration with the incoming President of COP27 (Egypt), to ensure consistency, coherence and implementation of commitments in line with the principles and goals of the Paris Agreement;
    2. Also take note of the UK COP Presidency Glasgow Breakthrough Initiatives and the launch of the Global Checkpoint Process and encourage the UK COP Presidency to engage with CARICOM Member States to identify how the region can benefit and champion SIDS specific breakthroughs;
    3. Urge the convenors of other fora intended to mobilize support for the UNFCCC process, including the Major Economies Forum, the Ministerial on Climate Action and the Petersberg Dialogue, to marshal efforts to support a Paris delivery agenda;
    4. Note the policy priorities of Germany’s G7 Presidency under the overarching objective of “Progress towards and equitable world” including the focus in particular on a sustainable planet;
    5. Take note further of the G7 Presidency’s intention to establish a global Climate Club to foster ambitious, climate action and encourage the G7 Presidency to engage with the Caribbean and other small island developing states as partners to jointly identify how such an alliance can directly address the SIDS needs in the near term particularly for addressing adaptation, and unavoidable loss and damage and avoid any unintended consequences;
    6. Note also that the Indonesian Presidency of the G20 has identified energy transition as a policy priority, and express the hope that the focus on sustainable energy transition will be framed in light of the temperature goal of 1.5°C and so lend support to strengthened 2030 emissions targets that could be brought forward to the COP27, underscoring that in so doing the G20 together can keep 1.5°C  within reach; 
    7. Calls also for global recognition of the SIDS need for finance for loss and damage to cover the costs of impacts and risks to which we cannot adapt;
    8. Urge all leaders to confront the reality that climate change poses an existential threat to SIDS and that its impacts represent a “Code Red for Humanity” and thus require immediate, global action to reduce greenhouse emissions and provide accessible and affordable finance in line with the science to keep 1.5°C within reach.

    There is no more time for equivocation and no more time for delay; we, the CARICOM Heads of Government, demand action now.

  • Caribbean Trade and Development News Digest – February 20-26, 2022

    Caribbean Trade and Development News Digest – February 20-26, 2022

    Welcome to our Caribbean Trade and Development News Digest covering the week of February 20-26, 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

    One of the biggest news developments this week was the announcement that the long overdue 12th Ministerial Conference of the World Trade Organization, after successive postponements due to the COVID-19 pandemic, will be held the week of June 13 in Geneva, Switzerland. Read more here.

    CARICOM countries signed the St George’s Declaration – Towards the Reduction of Intra CARICOM Roaming Charges with two of the telecommunication providers in the Caribbean. Read more here

    Coming up this week will be the 33rd Inter-sessional meeting of the CARICOM Heads of Government. Read more here.

    REGIONAL NEWS

    CARIFORUM talks trade

    Barbados Today: Trade between the Caribbean Community (CARICOM) and the European Union (EU) remains a top priority, officials from the EU Commission have assured. Read more

    Ukraine Crisis | Russian invasion on agenda for CARICOM meeting

    Jamaica Gleaner: Foreign Affairs and Foreign Trade Minister Kamina Johnson-Smith has indicated that Russian military action is on the agenda for discussion at the upcoming CARICOM heads of government meeting. Read more

    PM Briceno Comments on the Upcoming SICA-CARICOM Joint Summit

    LoveFM: Hundreds of leaders and officials are expected to land on Ambergris Caye next week for the SICA-CARICOM Joint Summit. It is a 3-day event that Belize is hosting. Prime Minister John Briceno told Love News that such a meeting is way overdue and will serve to strengthen relations in trade and other aspects. Read more

    DR begins building border wall with Haiti

    Barbados Today: The Dominican government on Sunday began building a wall that will cover almost half of the 392-kilometre (244 miles) border with Haiti, its only land neighbor, to stop irregular migration and the smuggling of goods, weapons and drugs. Read more

    The many questions of governance in the metaverse

    Newsday: It was clear from the start of the conversation about the role of governance and national sovereignty in the metaverse, that there were far more questions than answers. Read more

    St. Kitts & Nevis to ban single use plastics

    Travel Pulse: St. Kitts and Nevis, the two-island nation that is quickly becoming a popular Caribbean cruise destination, has announced plans to ban single-use plastics in the near future. Read more

    INTERNATIONAL NEWS

    WTO chairpersons for 2022

    The WTO General Council, on 24 February 2022, noted the consensus on a slate of names of chairpersons for WTO bodies. Read more

    Members updated on progress to further integrate small economies into world trading system

    WTO: At the General Council meeting of 23 February 2022, the Chair of the Committee on Trade and Development (CTD), Ambassador Muhammad Mujtaba Piracha of Pakistan, outlined his efforts in working with members to advance the discussions under the WTO’s Work Programme on Small Economies. Read more

    UK and Singapore sign new innovative digital trade deal

    Gov.uk: The International Trade Secretary lands in Singapore to sign a groundbreaking digital trade deal. Read more

    Global disruptions to trade about to get worse

    Bloomberg: With Russia’s invasion of Ukraine early Thursday, energy costs are soaring, stocks are plunging, Western sanctions are being sharpened, and central bankers already worried about inflation face additional drags from weaker consumer confidence and bigger potential shocks to fragile European economies. Read more

    West to cut some Russian banks off from Swift

    BBC: The EU, US and their allies have agreed to cut off a number of Russian banks from the main international payment system, Swift. Read more

    White House Lays Out Broad Changes to Address Supply-Chain Shortfalls

    Wall Street Journal: The administration says ‘we need to have some ambition’ with measures aimed at improving the flow of goods over the long term. Read more

    NEW ON THE CTLD BLOG

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