Caribbean Trade Law and Development

Category: Trade

  • Caribbean Trade and Development News Digest – July 12 -18, 2020

    Caribbean Trade and Development News Digest – July 12 -18, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 12-18, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This week members of the World Trade Organization got to officially meet the eight candidates in the running to succeed incumbent Roberto Azevedo as next WTO DG. From July 15-17, each candidate participated in a special meeting of the WTO General Council and took questions from the membership, followed by a press conference. You can also access each candidate’s statement to the General Council once available here and watch the recordings on the WTO’s website here.

    Barbados’ soon to be rolled out special 12-month remote visa programme called the ‘Welcome Stamp‘ has created much excitement and largely positive international headlines. However, the island may soon have competition from other jurisdictions which have also announced digital nomad visas. In early June, Estonia adopted amendments to its laws to create a digital nomad visa programme, while Bermuda this week announced it will be launching a special one-year residential certificate. Read more

    REGIONAL NEWS

    More support for Govt’s new visa plan

    Barbados Today: The Barbados International Business Association (BIBA) has welcomed Government’s proposed 12-month Barbados Welcome Stamp initiative. BIBA President Derrick Cummins told Barbados TODAY there were several benefits that could be derived from the initiative including increased economic activity. Read more

    Now is the moment for CARICOM to re-engage with the Dominican Republic

    Dominican Today: There is a real case to be made for CARICOM setting aside its reservations and seeking an early engagement with the new administration in Santo Domingo, not least because as a former businessman Mr Abinader knows the Anglophone Caribbean. Read more

    LIAT’s creditors to meet July 31

    Barbados Today: Creditors are about to have their say on whether cash-strapped regional carrier LIAT should go into liquidation. Almost three weeks after Prime Minister of Antigua and Barbuda Gaston Browne announced the airline would be liquidated and a new airline formed, LIAT has called a meeting of the company’s creditors to discuss its wrapping up. Read more

    Antigua hopes to save LIAT with legislation

    Nation News: The Antigua and Barbuda government has provided an avenue for the regional airline, LIAT, to seek Court protection rather than being forced into liquidation after it announced that the Companies (Amendment) Act 2020 was gazetted on Wednesday. Read more

    JAMPRO, BSJ Partner To Develop Bamboo Industry

    Jamaica Gleaner: The Jamaica Promotions Corporation (JAMPRO) and the Bureau of Standards Jamaica (BSJ) are increasing their collaboration to develop Jamaica’s bamboo industry, as demand grows globally for renewable material sources for paper and other manufacturing needs. Read more

    Jamaica launches ‘Return to Set’ guidelines as filming resumes

    Loop Jamaica: JAMPRO and the Jamaica Film and TV Association (JAFTA), have officially launched the “Safe Return to Set” industry guidelines that will govern filming during and after the COVID-19 pandemic in Jamaica. Read more

    14 Entrepreneurs to start the OECS-Caribbean export coaching programme

    Dominica News Online: The OECS-Caribbean Export Development Agency’s Technical Assistance and Coaching Programme launched on July 8, 2020 with the aim of strengthening the entrepreneurial and leadership skills of 14 selected young entrepreneurs from six countries of the Eastern Caribbean. Read more

    Grenada to Reduce Airline Ticket Taxes to Encourage Regional Travel

    Caribbean National Weekly: Prime Minister Dr Keith Mitchell has disclosed that Grenada will soon be reducing taxes on airline tickets as part of measures aimed at encouraging intra-regional travel within the Caribbean Community (CARICOM). Read more

    Trinidad & Tobago PM: No Involvement in LIAT

    Newsday: The Trinidad & Tobago Prime Minister implied the Government will not step in to save cash-strapped LIAT by reversing TT’s past surrender of most of its shareholding, speaking at a briefing on Monday at the Diplomatic Centre, St Ann’s. Read more

    Leaders ‘accept’ regional airfare levies too high

    Barbados Today: High airline taxes, long blamed by many regional experts for their role in a slump in intra-regional travel, may, after all, have to be lowered, a Caribbean leader has hinted. Read more

    INTERNATIONAL NEWS

    Brexit no obstacle to WTO leadership bid, says Liam Fox

    BBC: Liam Fox has downplayed the importance of Brexit in his bid to be the first British boss of the World Trade Organization. Read more

    WTO, ICC, B20 Sound Alarm on Diminishing Availability of Trade Finance Amid Pandemic

    IISD: The World Trade Organization (WTO), International Chamber of Commerce (ICC), and Business Twenty (B20) Saudi Arabia have issued a joint statement that shines a spotlight on “the diminishing availability of trade finance.” Read more

    The formidable challenges facing the WTO’s next Director General

    ING: The World Trade Organisation has begun choosing its new Director General, with eight candidates in the running. As if safeguarding the rules of world trade during a pandemic wasn’t challenging enough, dispute settlement needs reform, China’s status within the world trading system has to be addressed, and success partly depends on US voters in the autumn. Read more

    India revives initiative to conclude Preferential Trade Agreement with S African Customs Union

    Economic Times: Discussions between Southern African Customs Union (SACU) [South Africa, Namibia, Botswana, Lesotho, Eswatini] and India to achieve a Preferential Trade Agreement (PTA) have been revived with the two sides holding a virtual meeting last week to discuss various aspects of the PTA. Read more

    US, India Discuss ‘Possibility’ of Free Trade Pact

    VoA: The U.S. and India discussed the “possibility” of a free trade pact, India’s Commerce and Industry Ministry said in a statement Thursday, just days after India began free trade agreement talks with the European Union. Read more

    US cars ‘must be left out of post-Brexit trade deal’

    BBC: Safety experts are urging the UK government to exclude American cars from any post-Brexit trade deal. Read more

    EU, India move closer to free trade deal

    Deutsche Welle: Following an online summit between the European Union and India, the two powers have announced plans to set up a “high-level dialogue” on investment and trade. Details of any potential free trade pact remain uncertain. Read more

    EU talks to rescue €750bn recovery package stall amid heated debate

    The Guardian: European Union leaders agreed to reconvene at noon on Sunday after spending an evening locked in intense negotiations in an attempt to save a summit on the terms of a €750bn (£682bn) pandemic recovery fund from an acrimonious end as the debate over the bloc’s financial future became “heated”. Read more

    Foreign Minister Toshimitsu Motegi eyes Britain trip next month to discuss trade deal

    Japan Times: Foreign Minister Toshimitsu Motegi could visit Britain as early as next month for negotiations on a trade deal that both countries want to finalize this year, government sources said Friday. Read more

    China says will stick with U.S. trade deal, but respond to ‘bullying’

    Reuters: China said on Thursday it will stick to the Phase 1 trade deal it reached with the United States earlier this year but warned that it will respond to “bullying” tactics from Washington, as relations continue to deteriorate. Read more

    Digital trade agreement of 1998 costs India, other developing nations $10 billion per annum

    Business Today: A research paper published by the United Nations Conference on Trade and Development (UNCTAD) suggests that the developing country members of the World Trade Organisation (WTO) maybe losing about $10 billion tax revenues due to a moratorium on customs duties on electronic transmissions (ET) agreed in 1998 and continued since then. Read more

    US-Africa trade will be positively impacted by AfCFTA – Florizelle Liser

    The Africa report: The Corporate Council on Africa (CCA) is the leading business association focused solely on promoting business and investment between the United States and the African continent. In this time of pandemic, both the continent and the US are looking for ways to strengthen their relationship. Read more

    Digital Trade Is the Next Big Thing in Africa

    AllAfrica: Wamkele Mene was recently appointed Secretary General of the African Continental Free Trade Area Secretariat. Because of COVID-19, free trade for countries that have ratified the agreement did not begin, as planned, on 1 July 2020. In this interview with Africa Renewal’s Kingsley Ighobor, Mr. Mene explains the way forward, how increased intra-African trade can boost economies post-COVID-19 and how digital trade will be next big thing on the continent. Read more

    China says its dollar-denominated exports, imports jumped in June, beating expectations of a decline

    CNBC: China’s dollar-denominated exports and imports rose in June, as restrictions eased and countries started to reopen their economies. Read more

    UAE-China trade to surge on the back of strong ties between the two nations

    The National: Bilateral trade between China and the UAE will continue to surge in the coming years on the back of strong relations between the two countries, despite a temporary roadblock caused by the effects of the Covid-19 pandemic, according to top officials. Read more

    Lessons from Covid, China: India needs a new paradigm for trade, industry, and development

    The Indian Express: Promoters of free trade say countries that trade with each other are unlikely to go to war with each other. The volume of India-China trade has been growing for many years. Yet soldiers of the two countries are skirmishing along their borders. Ten years ago, the Indian ambassador to China pointed out that while the volume of trade was growing no doubt, the pattern of trade was worrying. 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:

  • WTO DG Candidates kick off their campaigns

    WTO DG Candidates kick off their campaigns

    Alicia Nicholls

    In case you missed it, nominations for the next World Trade Organization (WTO) Director-General closed on July 8, 2020. The first phase of the three-phased DG selection process is now complete.

    Who is running?

    Eight (8) candidates are officially in the running to become the seventh WTO DG after incumbent DG Roberto Azevedo announced in May this year his intention to step down on August 31, 2020, a full year before his second and final term expires. On June 8, nominations were officially opened, and closed July 8.

    All of the candidates are well-experienced and well-qualified. The majority are from developing countries, including three from Africa. Three of the candidates are women.

    The candidates are:

    Dr. Jesus Seade Kuri (Mexico)

    Dr. Ngozi Okonjo-Iweala (Nigeria)

    Mr. Abdel-Hamid Mamdouh (Egypt)

    Mr Tudor Ulianovschi (Moldova)

    Ms Yoo Myung-hee (Republic of Korea)

    Ms Amina C. Mohamed (Kenya)

    Mr Mohammad Maziad Al-Tuwaijri (Kingdom of Saudi Arabia)

    Dr Liam Fox (United Kingdom)

    Their full biographies may be accessed on the WTO’s website here.

    What happens now?

    During this second phase of the three-phased DG selection process the candidates will officially make themselves ‘known’ to WTO Members, starting this week.

    Over the next three days, July 15-17, each candidate will participate in the special meeting of the WTO General Council where he or she will present his or her vision and take questions from the membership, followed by a press conference.

    You can also access each candidate’s statement to the General Council once available here and watch the press conferences live and the recordings on the WTO’s website here.

    Not surprisingly, the selection process has been expedited. This second phase of the DG selection process normally lasts three months but will instead be shorter, expiring September 7.

    It should be noted, however, that even before this official campaigning period started, most candidates had already begun making their case for why they are the best person to lead the WTO at this time through media appearances and op-eds.

    The third and final phase, which involves consultations with Members over their preferences to narrow the field of candidates, will start thereafter and will only last two months. The DG is chosen by consensus.

    As I outlined in a previous article, while the WTO DG’s role is largely administrative and lacks any real formal power, the DG can exert considerable soft power to help members build consensus. This is especially needed at this time given the many challenges the 25-year old institution is currently facing.

    Alicia Nicholls, B.Sc., M.Sc., LL.B is an international trade and development specialist. Read more of her commentaries here or follow her on Twitter @licylaw. All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may from time to time be affiliated.

  • Caribbean Trade and Development News Digest – July 5 – 11, 2020

    Caribbean Trade and Development News Digest – July 5 – 11, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 5-11, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    With nominations closed on July 8, there are now officially eight (8) candidates in the race to become the next World Trade Organization (WTO) Director-General. The candidates, all well-qualified and experienced, hail from Egypt, Kenya, Mexico, Moldova, Nigeria, Saudi Arabia, South Korea and the United Kingdom (UK). Learn more about the candidates in this Bloomberg piece here.

    Data published by UNCTAD on June 11 show that merchandise trade fell by 5% in the first quarter of the year and forecast a 27% drop for the second quarter and a 20% annual decline for 2020. Read the UNCTAD report here.

    REGIONAL NEWS

    PM Gonsalves: LIAT liquidation unanimously agreed to last month

    LoopBarbados: At the June 27 meeting on LIAT with the major shareholder governments, it was unanimously agreed there would be the liquidation of the airline. Read more

    The pivotal role of air transportation in CARICOM

    Searchlight: Within the past week, Caribbean Community (CARICOM) nationals got wind of the imminent liquidation of LIAT, a process which if carried out, would bring an end to over 60 years of aviation history for the airline. Read more

    Caribbean leaders meet amid concerns over regional transportation, COVID

    Jamaica Observer: Caribbean Community (Caricom) leaders were meeting virtually on Friday, overshadowed by the impact of the coronavirus (COVID-19) on their socio-economic future and the plight of the regional transportation with the decision to liquidate the financially strapped regional airline, LIAT. Read more

    Jamaica’s trade agenda needs to be more ambitious, says Hylton

    Jamaica Observer: People’s National Party spokesman on industry, competitiveness and global logistics, Anthony Hylton says the country’s trade agenda needs to be more ambitious than the current “defensive posture” of Caricom on external trade. Read more

    Antiguan government establishes “travel bubble” for Caribbean travelers

    CARICOM: The Antigua and Barbuda government says it has established a “travel bubble” that will allow citizens from several identified states within the Caribbean Community (CARICOM) to travel to the island without the necessity to have coronavirus ( COVID-19) tests and certificates to be presented upon entry. Read more

    Protocols For Air Travel To Barbados Effective July 12

    Barbados GIS: Visitors to Barbados, once commercial flights resume on July 12, are being strongly advised to undergo a COVID-19 PCR test at an accredited or certified facility, or laboratory before travelling. Read more

    CARICOM Chairman: Several airlines ready to step in for LIAT

    Loop Jamaica: Six airlines have expressed interest to serve the gap that could be left in the wake of LIAT’s current challenges. They include SVG Air, One Caribbean, Caribbean Airlines (CAL), interCaribbean airlines, Silver Airways and Air Antilles. Read more

    Region celebrates first virtual CARICOM Day

    Barbados Today: CARICOM Day, July 4, achieved another first, as the Caribbean Community’s Heads of Mission in the United Kingdom came together to celebrate the achievements of the region with a number of messages, in a special virtual session under the theme “We are CARICOM, Resilient and Diverse”. Read more

    CARICOM granted access to Africa Medical Supplies Platform

    Searchlight: Member States of the Caribbean Community (CARICOM) have been given access to the Africa Medical Supplies Platform (AMSP), a procurement system for supplies and equipment in the fight against COVID-19. Read more

    Caribbean Rum to benefit from maintained Brexit Tariffs

    Searchlight: Despite changes coming as a result of Brexit, Caribbean Rum will continue to be protected from unfair competition from subsidised cheap rum entering the UK market from other countries. Read more

    INTERNATIONAL NEWS

    U.S., Kenya formally launch trade deal talks

    Reuters: Kenya and the United States formally launched negotiations on Wednesday for a bilateral trade pact that the two economies hope could serve as a model for additional agreements across the African continent. Read more

    Trump administration sends letter withdrawing U.S. from World Health Organization over coronavirus response

    Washington Post: The Trump administration has begun the process of withdrawing the United States from the World Health Organization, a move that could hurt the U.N. agency’s response to the coronavirus pandemic and reshape public health diplomacy. Read more

    U.S. slaps French goods with 25% duties in digital tax row, but delays effective date

    Reuters: The Trump administration on Friday announced additional duties of 25% on French cosmetics, handbags and other imports valued at $1.3 billion in response to France’s digital services tax, but would hold off on implementing the move for up to 180 days. Read more

    EU urges U.S. to return to negotiations at OECD on digital taxes

    Reuters: The European Union on Friday urged the United States to return to negotiations about digital taxation at the Organization for Economic Cooperation and Development, but said it stood ready to make a new proposal at the EU level if those talks failed. Read more

    What do you need to know: What comes next in the WTO director-general race

    Borderlex: Dmitry Grozoubinksi on what comes next in the nomination process for the World Trade Organization’s top job. We are now off to the races, but the finishing line is still far away. Read more

    Brexit: UK nominates Liam Fox to lead World Trade Organization

    BBC: The UK government has nominated former cabinet minister Liam Fox as its candidate to lead the World Trade Organization. The body is searching for a new director-general to replace Brazilian Roberto Azevedo at the end of August. Read more

    Free trade ‘will not go away’ – leaders and experts weigh in on trade in a post-COVID world

    World Economic Forum: Free trade is important and it will not go away – it’s for us just to make sure we are on top of it.”Those were the words of Mattias Hedwall, Global Head of International Commerce & Trade at Baker & McKenzie International, at the start of the first public session of the Forum’s Trade Multistakeholder Conversation on 8 July. Read more

    Trade multilateralism need to be sustained in post Covid world: Think-tank

    Economic Times: Trade multilateralism need to be sustained in post Covid world: Think-tank
    Drawing from the historical role that multilateralism has played in fostering global peace and stability, Rohinton Medhora, President of Canada-based Centre for International Governance Innovation, said that “Not just the decline in the volume of trade, we need to understand how that undermined the values of the multilateral trading system”. Read more

    Turkey, UK ‘very close’ to free trade deal

    Anadolu Agency: Turkish Foreign Minister Mevlut Cavusoglu says 2 countries are close to finalizing talks, according to Financial Times report. Read more

    Taiwan Preps for Possible End to Landmark Trade Deal with China

    VoA: China now has the chance to reconsider its 10-year-old Economic Cooperation Framework Agreement with Taiwan, the biggest-ever trade pact between the two rivals, and a Chinese media outlet hints at the agreement’s demise. Read more

    Pandemic highlights importance of AfCFTA

    African Business Magazine: A delay to implementation of the AfCFTA should provide the opportunity for a much-needed rethink of Africa’s development trajectory, says Dianna Games. Read more

    Trudeau ‘concerned’ by U.S. threat of tariffs on Canadian aluminum and steel

    CBC Canada: Prime Minister Justin Trudeau said today he is concerned by reports suggesting Washington is considering reimposing tariffs on Canadian metals just as Canada, the United States and Mexico are celebrating the launch of a new free trade deal. Read more

    Liz Truss: US trade deal ‘won’t mean lower food standards

    BBC: International Trade Secretary Liz Truss has denied the UK is preparing to water down its food safety standards in order to reach a trade deal with the US. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    This week I participated as a panelist in a UWI Open Campus/Global Executive Trade Webinar on ‘Global Trade & Supply Chains: Tips for your Business to Succeed”.

    I was also presenter at a CAC-ECSEA Webinar on ‘Welcoming the New Normal’ where I discussed the impact of COVID-19 on the Caribbean, the need for a relook of our trade and investment agreements if we are to navigate this ‘new normal’.

    Here is the latest content on the CTLD Blog:

    BONUS

    Watch this great interview by Prof. Gilbert Morris discussing the impact of COVID-19 on the Caribbean and some economic solutions for recovery.

    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:

  • CAC-ECSEA Webinar – Welcoming the New Normal

    CAC-ECSEA Webinar – Welcoming the New Normal

    On Friday, July 10, I am pleased to be a presenter in the CAC-ECSEA Webinar ‘Welcoming the New Normal’ hosted by the Caribbean-ASEAN Council. Please see flyer for details!