Caribbean Trade Law and Development

Category: Trade

  • Caribbean Trade & Development News Digest – November 15-21, 2020

    Caribbean Trade & Development News Digest – November 15-21, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of November 15-21, 2020! 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.

    THIS WEEK’S HIGHLIGHTS

    This week, the WTO celebrated its 25th anniversary of existence through a virtual event bringing together senior government officials and representatives from the private sector, civil society and intergovernmental organizations. Read more here

    The WTO’s latest Trade Monitoring Report on G20 trade measures shows a slowdown in the number and coverage of trade-restrictive and trade-facilitating measures on goods implemented by G20 countries between mid-May and mid-October 2020. Read more here.

    The UK and Canada reached a deal to roll over existing market access commitments once the UK leaves the EU and have agreed to start negotiations on a more advanced deal. Read this Bloomberg story here.

    Private sector representation within the Caribbean Community (CARICOM) is set to receive a further boost. This week, a Headquarters Agreement between Barbados and the CARICOM Private Sector Organisation (CPSO) was signed. It should be recalled that October 29, 2020 the CPSO was made an associate institution of CARICOM. Read more

    REGIONAL NEWS

    Barbados and CARICOM Private Sector Organisation Sign Headquarters Agreement

    Foreign.gov.bb: Efforts to further strengthen the CARICOM Single Market and Economy (CSME) were facilitated today, with the signing of a Headquarters Agreement between Barbados and the CARICOM Private Sector Organisation (CPSO). Read more

    Cuba, France prepare meeting of the Bilateral Economic Commission

    Prensa Latina: Both nations’ authorities have expressed at different times the will to strengthen economic-commercial ties, which on the French side is expressed in efforts of that country’s Directorate General of the Treasury and the French Agency for Development, which both encourage French entrepreneurs to negotiate with their Cuban counterparts. Read more

    Cuba Expert Says Don’t Expect Any Big Relationship Change When Joe Biden Takes Office

    CBS: The Cuba dilemma has dogged every president since Dwight Eisenhower. Former President Barack Obama made dramatic moves to reach out to the Castro regime netting little return from the Cubans. President Donald Trump rolled back those initiatives. Read more

    US organizations to seek rapprochement with Cuba

    Prensa Latina: US organizations said on Tuesday that there is an opportunity for the Biden administration to reverse Trump’s harmful policies on Cuba and adopt the normalization policy from the Obama era. Read more

    CARICOM encouraging use of electric vehicles throughout the region

    TV6TNT: The Caricom Secretariat has designated November ‘Energy Month’ and has teamed up with the Caribbean Centre for Renewable Energy and Energy Efficiency and the Technical Assistance Programme for Sustainable Energy in the Caribbean to host a virtual Electric Vehicle demonstration event tomorrow. Read more

    Real estate boost from Barbados Welcome Stamp

    Barbados Today: The northern parish of St James is currently the preferred location for individuals taking advantage of the 12-month Barbados Welcome Stamp initiative. Read more

    Study says Cayman is responsible for 16.5% of global tax losses per yr

    LoopCayman: An inaugural annual study by a UK-based global advocacy group says that the Cayman Islands is responsible for the biggest share of countries’ tax losses globally, amounting to 16.5 per cent of global tax losses or over $70 billion a year. Read more

    All-of-government approach to improve business environment, says Dunn

    Jamaica Observer: State Minister for Industry, Investment and Commerce, Dr Norman Dunn says that an “all-of-Government” approach is being employed to improve the trade and business environment. Read more

    Jamaica Coffee Commanding Smaller Share Of Japanese Market

    The Gleaner: Jamaica hopes to keep its luxury coffee exports to Japan on par with previous years, but the latest data shows its losing ground to coffee imports from richer non-coffee producing nations. Read more

    Electronic Single Window for Trade coming – President Ali

    DPI: His Excellency Dr. Mohamed Irfaan Ali has announced that an Electronic Single Window for Trade will soon be established to improve trade facilitation and the ease of doing business in Guyana. Read more

    Guyanese American Chamber of Commerce webinar

    SFCN: The recently held Guyanese American Chamber of Commerce (GACC) webinar which discussed expanding Guyanese exports to the United States offered useful information and advice to exporters from the South American republic. Read more

    Informal cattle trade back on again

    Amandala: More than thirty years ago, Belize’s cattle ranchers began supplying enough beef to meet the country’s needs, and after enabling self-sufficiency in the local meat market, the leaders of the industry began looking for markets abroad, in Mexico and Guatemala, so that they could expand their herds. Read more

    Tough times ahead in tourism

    Nation News: A veteran hotelier says COVID-19 could be the worst crisis to have ever hit the tourism sector in Barbados and it will be rough going for the next six to eight months. Read more

    INTERNATIONAL NEWS

    Wealthy countries block COVID-19 drugs rights waiver at WTO – sources

    Reuters: Wealthy nations on Friday reiterated their opposition to a proposal to waive intellectual property rules for COVID-19 drugs, three trade sources said, despite pressure to make an exception to improve access to drugs for poorer countries. Read more

    WTO sees trade rebound, but likely year-end slowdown

    Reuters: The World Trade Organization said on Friday global trade in goods had rebounded in the third quarter from COVID-19 lockdowns, but predicted a slowdown at the end of 2020. Read more

    UK secures vital rollover trade deal with Canada and agrees to start negotiating more advanced deal next year

    Gov.uk: International Trade Secretary Liz Truss has today secured an agreement for a continuity trade deal with “friend and ally” Canada. Read more

    Brexit latest: ‘Better progress’ in EU trade talks but differences still remain with time running out

    iNews: Ursula von der Leyen said there were still ‘quite some metres to the finish’ but insisted there had been ‘more movement’ on important issues. Read more

    UK, Canada could announce free trade deal within days

    Al Jazeera: The UK is negotiating several bilateral trade deals to come into force once it exits a transition arrangement with the EU at the end of the year. Read more

    WTO Members Preview Structured Discussions on Trade and Environmental Sustainability

    IISD: The second day of the World Trade Organization (WTO) Trade and Environment Week started with an event organized by Australia, Canada, Costa Rica, the EU, Mexico, New Zealand, Norway, Switzerland, and Chinese Taipei ahead of the launch of the ‘Structured Discussions on Trade and Environmental Sustainability.’ Read more

    Hong Kong strives to join regional trade deal RCEP, says Finance Secretary

    Strait Times: Hong Kong hopes to be part of the first group of economies to join the Regional Comprehensive Economic Partnership (RCEP) after the agreement takes effect, Financial Secretary Paul Chan said in a blog post on his website on Sunday (Nov 22). Read more

    Taiwan, Frozen Out of RCEP, Explores Trade Agreement Options With US

    The Diplomat: Taiwan reiterated Sunday its desire to join the CPTPP, and negotiators are in Washington this week hammering out a potential free trade agreement with the United States. Read more

    Taiwan exports set to suffer from RCEP trade deal exclusion

    SCMP: Business leaders fear Taiwan could lose its competitive edge after being left on the sidelines of the region’s largest free trading bloc, formed by China and 14 other countries. Read more

    Commission launches new complaints system to fight trade barriers and violations of sustainable trade commitments

    EU: The European Commission has today launched a new complaints system for reporting market access barriers and breaches of Trade and Sustainable Development commitments in the EU’s trade agreements and under the Generalised Scheme of Preferences. 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:

  • Caribbean Trade & Development News Digest – November 8-14, 2020

    Caribbean Trade & Development News Digest – November 8-14, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of November 8-14, 2020! 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.

    THIS WEEK’S HIGHLIGHTS

    Fifteen States, comprising 30% of the world’s economy, have signed the world’s largest trading bloc – the Regional Comprehensive Economic Partnership (RCEP). The signatory States include all 10 ASEAN Member States, Australia, China, Japan, South Korea and New Zealand. Read more here.

    The EU has put in place countermeasures against the US with respect to the WTO Boeing dispute, increasing tariffs on U.S. exports into the EU worth $4 billion. Read more here.

    EU and UK negotiators resumed Brexit talks in London but appear no closer to a post-Brexit deal as time for the end of the transition period runs out.

    Belizeans went to the polls this week and voted for a change of government. John Briceno has been sworn in as Belize’s new Prime Minister. Read more here.

    The Caribbean Community (CARICOM) has released a statement congratulating President-elect Joe Biden and Vice President Kamala Harris. Regional experts have been weighing in on what the Biden/Harris victory could potentially mean for US-Caribbean relations. I have included some of the articles below. You can also read my analysis here.

    REGIONAL

    Don’t expect Biden to rescue the Caribbean, says Bernal

    Jamaica Observer: There will be no financial windfall for the Caribbean from a Joe Biden-led US Government cautions Richard Bernal, former Jamaican ambassador to the USA, who on Friday shared his views on the foreign policy implications of a Biden win. Read more

    UWI’s Beckles: Biden/Harris victory a ‘win’ for Caribbean

    TT Newsday: UWI Vice-Chancellor Sir Hilary Beckles says the Biden/Harris victory is also “a win” for the Caribbean. He was speaking at a virtual media conference on Thursday afternoon under the theme Caricom, the UWI, Biden and the Future of Our Voice. Read more

    Sir Ronald Sanders: The world is waiting to breathe normally again

    Jamaica Observer: Caribbean Community (Caricom) countries should by now have worked out a strategy for securing the early attention of United States President-elect Joe Biden and the team working on his transition into the White House and to the helm of the Government. Read more

    What a Biden-Harris win means for Jamaica and the Caribbean

    Guyanese Online: While there will be considerable euphoria and pride in a Joe Biden-Kamala Harris win in the US presidential race, Jamaica-born New York-based political scientist, Diana Cassells, is cautioning Jamaica and the Caribbean about their expectations at this time. Read more

    American legislators with C’bean roots jubilant over Biden-Harris victory

    Jamaica Observer: Caribbean American legislators in the United States on Saturday celebrated the election of US Democratic Presidential nominee Joe Biden and his Caribbean American vice-presidential running mate Senator Kamala Harris. Read more

    Coffee exporters seeking to retain US$10 million in exports to Japan

    Jamaica Observer: The Jamaica Coffee Exporters Association is seeking to retain some US$10 million in exports of Blue Mountain coffee to the Japanese market for the 2020-21 crop year, similar to the value purchased last year. Read more

    Government Supports Export Efforts Of Local Businesses

    JIS: State Minister in the Ministry of Industry, Investment and Commerce (MIIC), Dr. the Hon. Norman Dunn, said the Government is committed to facilitating the export efforts of local businesses. Read more

    Transformational Changes Coming For Agriculture In The Region

    Jamaica Gleaner: As agriculture and food systems across Latin America and the Caribbean (LAC) try to recover from the impacts of the COVID-19 pandemic, policymakers must act to unleash the sector’s vast potential to drive sustainable and inclusive growth for decades to come, according to a new World Bank report. Read more

    BSI launches project to support sugar industry

    Amandala: On November 2, 2020, ASR/BSI officially launched the Belize Smart Sugarcane Cluster Project, a digital platform that will make information readily available to all the stakeholders in the sugarcane industry, and will especially help the 5,200 farmers who grow most of the cane that the Tower Hill factory converts to sugar for export and to supply local needs. Read more

    Vincentian appointed Director of Trade and Sustainable Development Association of Caribbean States

    Searchlight: Safiya Horne-Bique, a Vincentian national, assumed her duties as Director of Trade and Sustainable Development at the Secretariat of the Association of Caribbean States (ACS) on Monday November 2, 2020. Read more

    Europe’s appetite for Caribbean food highlights growing trend

    EU Reporter: The Caribbean food market is now worth almost £100 million. Sauces and condiments in particular are worth £1.12 billion and grew by 16.8% in the last year. Read more

    Western Union to suspend US transfers to Cuba

    Caribbean News Global: Western Union said on Friday it was suspending US money transfers to Cuba in 10 days due to the Trump administration’s latest sanction on the Communist-run island, in a blow to the many Cubans who rely on remittances from family abroad. Read more

    INTERNATIONAL

    RCEP: Asia-Pacific countries form world’s largest trading bloc

    BBC: Fifteen countries have formed the world’s largest trading bloc, covering nearly a third of the global economy. Read more

    What is RCEP and what does an Indo-Pacific free-trade deal offer China?

    SCMP: When leaders from 15 countries in the Indo-Pacific region meet for a virtual summit on Sunday, they are expected to sign a free-trade agreement that, measured by population and GDP, is one of the most ambitious ever struck. Read more

    Trudeau: UK’s lack of negotiating practice could delay Canada trade deal

    The Guardian: Canada could easily negotiate a post-Brexit trade deal with the UK, Justin Trudeau has said, but he warned that talks could be delayed because British negotiators are so out of practice. Read more

    Trudeau says he expects trade deal with U.K. can be done before 2021

    CBC: Prime Minister Justin Trudeau says he expects Canada can make a new trade deal with the U.K. before the calendar hit 2021. Read more

    Boeing WTO case: The EU puts in place countermeasures against U.S. exports

    EU: The European Commission’s regulation increasing tariffs on U.S. exports into the EU worth $4 billion will be published in the Official Journal of the EU. Read more

    EU-UK talks: ‘Make or break’ moment approaching, say both sides

    BBC: Trade talks between the UK and EU are reaching the “make or break” point, the two sides have said, with key differences proving hard to resolve. Read more

    EU unlikely to give UK more time to adjust after Brexit transition ends, Ireland’s FM tells Euronews

    Euronews: It is unlikely the European Union will grant the UK a grace period in January to help business adjust to the new post-Brexit trading regime, Ireland’s foreign affairs minister has told Euronews. Read more

    Trading partners seek post-Brexit clarity at WTO

    Reuters: Major trading partners called on Britain and the European Union (EU) on Friday to clarify terms for renegotiating tariff levels after Brexit and for compensating their suppliers for any lost market access, a Geneva trade official said. Read more

    In first for Fed, U.S. central bank says climate poses stability risks

    Reuters: “The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. Read more

    EU hits Amazon with antitrust charges. A huge fine could follow

    CNN: The European Union has unveiled formal antitrust charges against Amazon for abusing its dominance in online shopping and opened a second investigation into the company’s business practices. Read more

    Commission welcomes agreement on the modernisation of EU export controls

    EU: The European Commission welcomes the agreement reached today by the European Parliament and the Council on its proposal for a modernisation of EU export controls on sensitive dual-use goods and technologies. Read more

    Appointment of WTO chief in doubt after key meeting cancelled

    The Guardian: Nigeria’s Ngozi Okonjo-Iweala had been expected to be confirmed as leader on Monday. Read more

    5 ways the WTO can make investment easier and boost sustainable development

    World Economic Forum: As WTO delegates discuss what might be important measures to include, here are five provisions worth considering. Read more

    As WTO Talks Continue on Subsidy Reform Initiatives, Concerns Persist over Poor Notification Records

    IISD: The need to reform the World Trade Organization’s (WTO) agriculture subsidy rules and to clinch a deal that disciplines harmful fisheries subsidies are well known, and the latter agreement is now nearly within striking distance. Read more

    WTO Committee Discusses Ways to Facilitate FDI in Small Economies

    IISD: A meeting of the World Trade Organization (WTO) Committee on Trade and Development discussed foreign direct investment (FDI) and a joint communication on accelerating implementation of the WTO’s Trade Facilitation Agreement (TFA). Read more

    Minister for Agriculture: ‘Tariffs will apply under WTO rules in no-deal Brexit’

    Irish Examiner: The Minister for Agriculture, Food and the Marine, Charlie McConalogue, has confirmed that tariffs will apply to Irish goods going into the UK in the event of a no-deal Brexit scenario because of World Trade Organisation (WTO) rules. Read more

    How intra-African trade is progressing amid the pandemic

    BBC: Last year African countries signed an agreement aimed at increasing trade between them. If implemented successfully, they believe it could create a single African market of over a billion consumers. 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:

  • Caribbean Trade and Development News Digest – November 1-7, 2020

    Caribbean Trade and Development News Digest – November 1-7, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of November 1-7, 2020! 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.

    THIS WEEK’S HIGHLIGHT

    The WTO General Council this week postponed the meeting it had scheduled for 9 November to consider the appointment of the next WTO Director-General. Nigerian candidate Dr. Ngozi Okonjo-Iweala is the candidate for whom the WTO membership expressed support, but her selection was contested by the US. Read more here.

    Come January 20, 2021, the US will have its 46th president. US Democratic Party candidate, former Vice President under the Obama administration and Delaware Senator, Joe Biden, has been declared the President-elect, winning the US presidential election and defeating incumbent Republican president, Donald Trump. Biden’s VP pick, Senator Kamala Harris who is of Indian and Jamaican parentage, will be the female VP and the first person of colour to do so. Of particular interest to the Caribbean is that she is the first person of Caribbean heritage to rise to the office.

    On the other side of the Atlantic, ‘significant differences’ are making a post-Brexit UK-EU deal elusive, says UK PM Boris Johnson. Read more.

    Meanwhile, the UK and Kenya successfully concluded negotiations on a trade deal. Kenya would be the sixth African country with which the UK has secured a post-Brexit trading arrangement. Read more

    Regionally, Prime Minister of St. Vincent & the Grenadines, Dr. Ralph Gonsalves, was elected for an unprecedented 5th term of office. Read more

    REGIONAL NEWS

    Invest Barbados stands by its criticism of EU Blacklisting amid claims it misunderstood the issue

    Barbados Today: Invest Barbados has rubbished claims by a European Union (EU) official that there are “unfounded concerns” and misconceptions about the island’s inclusion on the EU’s list of “non-cooperative jurisdictions for tax purposes”. Read more

    Belize passes historic legislation banning gillnet fishing

    BBN: Тhіѕ wееk, thе Gоvеrnmеnt оf Веlіzе (GОВ) роѕіtіоnеd thе соuntrу аѕ а glоbаl lеаdеr іn ѕuѕtаіnаblе dеvеlорmеnt bу раѕѕіng lеgіѕlаtіоn tо bаn thе uѕе оf gіllnеtѕ, а dеѕtruсtіvе tуре оf fіѕhіng gеаr, frоm bеіng uѕеd іn Веlіzеаn wаtеrѕ. Read more

    CTO launches #TheCaribbeanAwaits campaign for Tourism Month

    LoopTT: The Caribbean Tourism Organization (CTO) has announced a social media campaign dubbed, #TheCaribbeanAwaits, in observance of Caribbean Tourism Month this month. Read more

    Panama and Guyana preparing to join Latin American hemp rush

    BBN: Аѕ аnnоunсеd bу Аttоrnеу Gеnеrаl аnd Міnіѕtеr оf Lеgаl Аffаіrѕ Аnіl Nаndlаll, Guуаnа’ѕ gоvеrnmеnt іѕ rеvіеwіng fеаѕіbіlіtу ѕtudіеѕ аnd hаѕ dіѕсuѕѕеd hеmр trіаlѕ. Іn Раnаmа, gоvеrnmеnt rерrеѕеntаtіvеѕ аnd dерutіеѕ іn thе Nаtіоnаl Аѕѕеmblу аgrееd tо fоrm а соmmіttее tо аnаlуzе hеmр’ѕ роtеntіаl fоr іnduѕtrіаl dеvеlорmеnt durіng dіѕсuѕѕіоnѕ аbоut а рrороѕеd hеmр lаw. Read more

    China and Jamaica extending bilateral trade agreements

    NYCaribNews: During a virtual meeting with China’s Ambassador to Jamaica, Tian Qi on Friday, October 30, Audley Shaw, Minister of Industry, Investment and Commerce, says he is committed to exploring the possibilities of pursuing greater cooperation with the Government of China. Read more

    Jamaica pushing to export pork, other items to China

    Jamaica Observer: The Jamaican Government is targeting the export of pork to China as the Andrew Holness Administration signals its intent to pursue greater cooperation with Beijing in areas of trade. Read more

    Jamaica, other C’bean countries to benefit from value chain intervention

    Jamaica Observer: Jamaica is benefiting from intervention aimed at strengthening the value chain for the production of indigenous black castor oil. Read more

    JSWIFT Project Being Implemented by JCA

    JIS: The Jamaica Single Window for Trade (JSWIFT) Project is at various stages of implementation by the Jamaica Customs Agency (JCA), which is spearheading the initiative’s rollout on behalf of the Government. Read more

    Challenges with CARICOM Bubble with COVID Says Dr. Ralph Gonsalves

    TV6: The chairman of CARICOM says, there is a major challenge with the CARICOM travel bubble allowing scheduled International and regional flights during the COVID-19 pandemic. Read more

    Mariano Browne: Refinery hard to restart

    Newsday: Former trade minister Mariano Browne has said many obstacles exist to a restart of the Pointe-a-Pierre refinery. Read more

    SheTrades Hub to support female entrepreneurs in Trinidad & Tobago

    LoopTT: Government has affirmed its commitment to providing opportunities to female entrepreneurs as part of driving the country’s COVID-19 economic recovery. SheTrades Hub, Trinidad and Tobago, was launched yesterday making this country the first in the Caribbean to officially launch one. Read more

    Saint Lucia, U.S. and Taiwan Deepen Investment and Entrepreneurship Partnerships

    US Embassy: In support of Saint Lucia Business Month, the U.S. and Taiwan embassies joined efforts to explore private investment and entrepreneurship opportunities with Saint Lucia. Read more

    INTERNATIONAL NEWS

    WTO Negotiating Group Hears Brazil’s Proposal on Fisheries Subsidies

    IISD: World Trade Organization (WTO) members continued discussions on addressing harmful fisheries subsidies throughout October. The 20 October meeting of the Negotiating Group on Rules heard a proposal from Brazil on percentage cuts to subsidies, and discussed the issue of proportionality in illegal, unreported, and unregulated (IUU) fishing violations. Read more

    WTO members greenlight EU sanctions against US over Boeing aid

    Euractiv: World Trade Organisation members gave the green light Monday (26 October) for Brussels to slap tariffs on $4.0 billion in US imports annually in retaliation for illegal American aid to plane maker Boeing. Read more

    Africa free trade agreement must be rolled out by January after pandemic delay – Secretariat

    News24: Wamkele Mene, Secretary General of the African Continental Free Trade Area Secretariat told delegates at the annual competition law, economics & policy conference on Wednesday that the Secretariat was at advances stages of concluding phase one of the agreement which deals with the trading of goods and services. Read more

    Rwanda-Ghana Relations to Spur Africa Trade Agenda

    AllAfrica: Rwanda and Ghana have resolved to boost bilateral relations with a broad, varied economic agenda at the core. This week, Foreign Affairs Minister Vincent Biruta was in Ghana to take part in a series of events that officials say will help to strengthen diplomatic and economic cooperation between the two countries. Read more

    Brexit: ‘Significant differences remain’ over trade deal

    BBC: Following a call with EU Commission President Ursula von der Leyen on Saturday, the PM said progress had been made but there were still issues around the “level playing field” and fishing. Read more

    Brexit talks remain deadlocked going into decisive week

    The Guardian: The Brexit negotiations remained stuck after a call between Boris Johnson and Ursula von der Leyen before a decisive week of talks. The European commission president and the prime minister both highlighted in their post-call statements the contentious issues of EU access to British waters and agreement on future rules to ensure fair competition. Read more

    Brazil to lead MERCOSUR talks; Deeper cooperation in defence, space, Ayurveda and agriculture, says India’s envoy to Brazil

    Financial Express: To further strengthen their ties, India and Brazil elevated their bilateral relations to a strategic partnership in 2006 and since then the relationship has witnessed an upward trend. President Jair Bolsonaro was the chief guest at the Republic Day this year. Read more

    Argentina wants EU to eliminate zero tariff access for Falklands’ exports

    Mercopress: Argentina held a meeting with the European Union ambassador and 21 of 27 EU members’ representatives in Buenos Aires and formally called for an end of the support for UK Falklands’ sovereignty recognition in the ongoing Brexit negotiations between Brussels and London. Read more

    US soybeans being loaded in Louisiana for Brazil

    Mercopress: A U.S. grain export terminal near Baton Rouge, Louisiana, is loading about 38,000 tons of U.S. soybeans on a bulk cargo vessel for shipment to Brazil, according to Southport Agencies shipping lineup. Read more

    China’s exports surged unexpectedly last month, as pace of import growth cooled off

    South China Morning Post: China’s exports grew by 11.4 per cent in October from a year earlier while imports grew by 4.7 per cent. Read more

    Branding rights on Basmati rice: Pakistan prepares response for European Commission

    The News: Pakistan has prepared a detailed response for submission before the European Commission on December 10, 2020 in order to foil the Indian attempts for obtaining branding rights on Basmati rice, Adviser to PM on Commerce Abdul Razak Dawood said on Friday. Read more

    UK and Kenya secure a trade agreement

    Gov.uk: The UK has moved a step closer to signing a sixth trade deal in Africa today (3 November), as negotiations on a trade deal are finalised with Kenya. The agreement will ensure all companies operating in Kenya, including British businesses, can continue to benefit from duty-free access as they export products including vegetables and flowers to their customers back in the UK. Read more

    UK-Australia trade deal ‘within months’

    The Canberra Times: The United Kingdom hopes to be able to reach a trade agreement with Australia within months, British trade minister Liz Truss says. Read more

    Irish businesses told not to wait for trade deal to prepare for Brexit

    Irish Times: Irish businesses that trade with the UK should not wait until a trade deal has been agreed between the UK and the EU to begin their preparations for Brexit, customs clearance service Declaron has warned. Read more

    RCEP summit on Nov. 15 to discuss trade deal by year-end, without India

    Nikkei: Asian-Pacific leaders representing the nations involved in the proposed Regional Comprehensive Economic Partnership will soon discuss reaching a long-awaited agreement by the end of the year, Nikkei learned Friday.

    Thailand ready to attend RCEP trade deal

    Bangkok Post: Thailand is ready to attend the signing of the long-awaited Regional Comprehensive Economic Partnership (RCEP) at the 37th Asean Summit under the chairmanship of Vietnam next week. Read more

    Is the Pacific’s new trade deal an early Xmas gift or a double edged sword?

    RNZ: The Australia and New Zealand led PACER Plus, is touted as a trade and development agreement that will strengthen economic development in the region. Nine Pacific countries have signed on to the deal with six having ratified it so far. 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:

  • Caribbean Trade and Development News Digest – October 25 – October 31, 2020

    Caribbean Trade and Development News Digest – October 25 – October 31, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of October 25-31, 2020! For October, we are going pink for Breast Cancer Awareness Month! 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.

    THIS WEEK’S HIGHLIGHTS

    The big news this week was that although WTO members indicated a strong preference for candidate from Nigeria, Dr. Ngozi Okonjo-Iweala, to lead the WTO, the US blocked Dr. Okonjo-Iweala’s selection who is also ironically a naturalised US citizen. The USTR’s statement objecting to Dr. Okonjo-Iweala’s appointment, while confirming support for candidate South Korea Trade Minister Yoo Myung Hee, can be viewed here. Therefore, as this Bloomberg report notes, the WTO DG race’s fate now depends on the outcome of Tuesday’s US presidential election.

    The 41st Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) was held virtually on 29 October 2020. The items discussed included COVID-19’s impact on the region, a Caribbean Economic Recovery and Transformation (CERT) Plan, EU blacklisting, a regional tourism policy, inter alia. Read the full communique here.

    Happening this week: Americans officially go to the polls to vote for their next president. A record over 90 million Americans and counting have already cast their ballot in early voting or by mail-in ballot. Read my article on why this election cycle is particularly important for the Caribbean here.

    Regionally, St Vincent and the Grenadines will be holding their elections this week on November 5. On October 31, St. Kitts & Nevis becomes the latest and one of the last Caribbean countries to re-open its borders. Read more here.

    Last week I also had the pleasure and honour of being a panelist at the Barbados International Business Association (BIBA) Global Business Week Conference on the panel entitled “New Opportunities for trade to and from Barbados“. Thank you to the organizers, excellent moderator and awesome fellow panelists for what was a very stimulating session.

    REGIONAL NEWS

    UN SG Calls For A Vulnerability Index For CARICOM

    News Americas Now: Secretary General of the United Nations, António Guterres, is calling for a multidimensional vulnerability index that will help CARICOM countries. Read more

    Cuba Says US Sanctions Have Caused Nearly $5.6B In Losses

    Jamaica Gleaner: Cuba said Thursday that the island has lost nearly $5.6 billion in one year as a result of economic sanctions imposed by US President Donald Trump. Read more

    High interest in intra-regional travel

    Barbados Advocate: Persons eager to visit countries within’ the bubble’, says travel advisor. Country Manager of Going Places Travel Barbados, Alana Gray, says there have been many enquiries for travel within the travel bubble. Read more

    Multilateral financial institutions have failed Caribbean countries: Robinson

    Barbados Advocate: University of the West Indies (The UWI) economist, Dr. Justin Robinson, has lashed out at the multilateral financial institutions, saying that they had failed small countries just when they require financing to get out of their present predicament. Read more

    First ship to arrive at Bridgetown Port on Sunday

    Barbados Today: Barbados will this weekend welcome its first cruise passengers since the global suspension of cruise in March this year. Read more

    Barbados International Business Sector showing resilience

    Barbados Advocate: The International Business and Financial Services sector, despite the current COVID-19 pandemic, is demonstrating its resilience by performing reasonably well under the current circumstances. Read more

    Jamaica earns US$250M from Tourism for June to September period

    Jamaica Star: Minister of Tourism, Edmund Bartlett has disclosed that Jamaica has earned just over US$250 million since the island’s borders reopened in June. Read more

    Guyana sets new oil discovery record – now the largest new conventional liquids play in the last decade

    Kaieteur News: The Yellowtail-2 and Redtail discoveries which were made in July and September respectively have pushed Guyana’s recoverable estimate to approximately nine billion oil equivalent resources. In light of this development, Guyana is now the largest new conventional liquids play in the last decade says Senior Vice President at ExxonMobil, Jack Williams. Read more

    Guyana Gov’t negotiating with CARICOM on better export market access for farmers

    Stabroek: In a bid to assist local farmers access regional export markets, the Guy-ana government is in discussions with the Carib-bean Community (CARICOM) in hopes of securing the relaxation or removal altogether of what it sees as some rigid non-tariff measures on local food produce, Minister of Agriculture Zulfikar Mustapha has said. Read more

    ‘CARICOM Bubble’ statistics being monitored to evaluate COVID-19 cases

    St Kitts & Nevis: St. Kitts and Nevis has the intends to participate in the Caribbean Community (CARICOM) Bubble and has been monitoring what is happening in the eight participating territories, says Chief Medical Officer Dr. Hazel Laws, speaking at the National Emergency Operation Centre (NEOC)/Border Reopening Press Briefing on October 28. Read more

    CARICOM divided on Venezuela at OAS assembly

    NY Carib News: Caribbean Community (CARICOM) countries were divided on the issue of “free and fair” elections in Venezuela, with The Bahamas, Haiti, Jamaica, and St Lucia all voting in favor of the resolution tabled at the 50th General assembly of the Organisation of American States (OAS) that ended here on Wednesday. Read more

    CARICOM establishes regional Food Security Task Force

    Loop Barbados: The Caribbean Community (CARICOM) has sought to address the region’s concerns about food security through the establishment of a Food Security Task Force. Read more

    Trinidad & Tobago Govt pushing female entrepreneurs

    Trinidad & Tobago Express: Trinidad & Tobago is the first country in the Caribbean to officially launch SheTrades, an initiative of the International Trade Centre (ITC), which is now part of a community of over 25 countries working towards connecting over three million women entrepreneurs to global markets by 2021. Read more

    Western Union to close in Cuba following new US sanctions

    Jamaica Observer: US-based money transfer company Western Union will close its offices in Cuba following new sanctions from Washington which prevent it from working with Fincimex, a financial company run by the island’s military, Havana said yesterday. Read more

    RUBiS enters petrochemical export market

    Jamaica Observer: RUBiS Energy Jamaica Limited recently dispatched the island’s first export shipment of petrochemicals — a move which sees the country becoming the first in the region to undertake such a venture due to its terminal and storage infrastructure. Read more

    Caribbean Export and WIRSPA partner on the Absolutely Caribbean Virtual Expo

    EU Reporter: Caribbean Export Development Agency (Caribbean Export) and the West Indies Rum & Spirits Producers Association (WIRSPA) are working together to support increased trade of rum and spirits between the Caribbean and Europe with the Absolutely Caribbean Virtual Expo, scheduled for 17-18 November. Read more

    ACS States with new Secretary-General

    Prensa Latina: Panamanian Rodolfo Sabonge began his four-year term of office as Secretary-General of the Association of Caribbean States (ACS) ‘under circumstances we never thought we would meet. Read more

    TT second largest regional supplier of medical products

    Newsday: A UNITED Nations (UN) country database shows that TT was the second largest supplier of medical products to other countries in the region after export restrictions from major suppliers created issues accessing critical medial supplies throughout the region. Read more

    Adjustments needed to the way we negotiate partnerships, says Marshall

    Barbados Today: One senior economist is calling for a review of how Barbados and other Caribbean states negotiate trade agreements with more developed nations. Dr Don Marshall, Director and Senior Research Fellow at the Sir Arthur Lewis Institute for Social and Economic Studies (SALISES), said the time had come for small island developing states to raise issues relating to their vulnerabilities and other developmental concerns when discussing partnerships. Read more

    INTERNATIONAL NEWS

    CBI chief fires parting shot over slow pace of Brexit negotiations

    BBC: Carolyn Fairbairn says the UK economy is in ‘suspended animation’ while issue remain unresolved. Read more

    Brexit talks making good progress, says Ursula Von der Leyen

    The Guardian: European commission president says key issues are level playing field and fisheries. Read more

    Brexit deal hangs in the balance, says EU council president

    The Guardian: Outcome of next two weeks of talks crucial but uncertain, says Charles Michel. Read more

    Chatham House speech: Liz Truss sets out vision for values-driven free trade

    Gov.uk: International Trade Secretary Liz Truss delivers the keynote speech at Chatham House’s ‘Global Trade Live’ event setting out her vision for UK trade policy. Read more

    Liz Truss: NHS ‘off the table’ in Brexit talks with US

    City AM: International trade secretary Liz Truss has insisted the NHS remains “off the table” in post-Brexit trade talks with the US, as the government scrambles to shore up relations with presidential hopeful Joe Biden ahead of next week’s election. Read more

    Trump’s phase one trade deal with China and the US election

    PIIE: President Donald Trump has staked a claim to success in his trade war with China on his phase one trade agreement of January 2020. In his self-proclaimed “historic” deal, China committed to purchasing an additional $200 billion of American-made goods and services over 2020 and 2021. Trump has even boasted that the deal “could be closer to $300 billion when it finishes.” Read more

    US moves closer to expanding tech export controls list as competition with China for future technology builds

    South China Morning Post: Commerce Department moves closer in seeking industry input to identify, define and set criteria for technology that will be subject to export controls. Read more

    Thailand expresses full support for WTO reforms

    The Guardian: Thailand has voiced full support for the World Trade Organization’s (WTO) reforms to make the intergovernmental body aware of trade situations and that would enable it to accelerate the global economic recovery following the pandemic. Read more

    A Biden Win Could Renew a Democratic Split on Trade

    NY Times: Democrats have been unified by their desire to oust President Trump. But if that happens, deep divisions on the issue of trade are likely to reappear. Read more

    China has a golden opportunity to show global leadership, with a WTO fisheries deal

    South China Morning Post: China is a fishing superpower. If Beijing is truly committed to a rules-based multilateral trading system, it must show leadership in securing a meaningful WTO agreement to tackle global fishing subsidies and curb overfishing. Read more

    EU strengthens trade enforcement arsenal with revamped regulation

    EU: Today, the European Commission, the European Parliament and the Council reached a political agreement on reinforcing the EU’s Enforcement Regulation. As part of the agreement, the Commission committed to developing the EU’s anti-coercion mechanism swiftly. Read more

    Trump Trade Policy Gets Failing Grades

    Forbes: Donald Trump may believe his trade agenda is a success, but a new analysis gives his administration’s trade policies poor marks. The analysis finds the Trump administration’s policy of raising tariffs and misusing U.S. trade laws have harmed consumers, disrupted supply chains and failed to achieve objectives that are important to the United States. Read more

    Biden Or Trump, Next 4 Years For Canada-U.S. Trade Will Be ‘Bumpy’

    Huffpost: Protectionism is rearing its head again in the United States, leaving the Trudeau minority government to figure out ways to work with an unpredictable neighbour. Read more

    Canadian Ambassador to U.S. says there is no justification to change border restrictions

    CTV: Canada’s Ambassador to the United States Kirsten Hillman said there is no justification to ease the Canada-U.S. land border restrictions any time soon. Speaking to CTV’s Power Play on Friday, Hillman stressed that either country is not prepared to loosen border restrictions before 2021. Read more

    What would a Joe Biden presidency mean for a UK-US post-Brexit trade deal?

    iTV: With the US presidential election days away, focus is shifting to what priorities the winner will have during their four years in power at the White House. Read more

    Cruz, Cornyn Complain to Trump That Mexico Is Undermining USMCA

    Bloomberg: US senators Cruz and Cornyn sent a letter to President Trump arguing that Mexico’s energy policy undermines the spirit of the USMCA trade agreement. Read more

    African trade finance banks urge MDBs to take on greater levels of risk

    Global Trade Review: Trade finance executives across Africa are urging multilateral development banks (MDBs) to “intervene decisively” and boost credit support to banks on the continent as a potential insolvency crisis looms. Read more

    S. Korea, Mongolia to lower tariffs starting 2021 under regional trade pact

    Korea Times: South Korea and Mongolia will lower tariffs on some products starting next year, as Ulaanbaatar joined a regional trade pact known as the Asia-Pacific Trade Agreement (APTA), Seoul’s finance ministry said Friday. Read more

    China-Mongolia trade to benefit from Mongolia’s APTA membership

    Xinhua: China and Mongolia are expecting lower tariffs in bilateral trade after Mongolia’s recent accession to the Asia-Pacific Trade Agreement (APTA), China’s Ministry of Commerce said Monday. Read more

    STRAIGHT FROM THE WTO

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