Caribbean Trade Law and Development

Category: Trade

  • Barbados ratifies WTO Trade Facilitation Agreement

    Barbados ratifies WTO Trade Facilitation Agreement

    Alicia Nicholls

    On January 31, 2018, Barbados became the 130th World Trade Organisation (WTO) member to ratify the WTO’s Trade Facilitation Agreement.

    According to the press release from the Barbados Government Information Service (GIS), “the instrument of ratification was formally handed over by Ambassador to the United Nations and Other International Organisations, Bentley Gibbs, to Secretary General of  the WTO, Robert Azevedo, in Geneva, Switzerland”.

    The Trade Facilitation Agreement came out of the WTO’s Bali Ministerial in 2013 and entered into force in February 22, 2017 after two-thirds of the WTO’s membership ratified the Agreement. It aims to expedite the movement, release and clearance of goods across borders by reducing red tape, improving transparency and facilitating cooperation among customs authorities.

    The benefits of these provisions, once implemented, include reducing trade costs for businesses, increasing participation in global value chains and improving trade flows. Ratification of the Agreement is, therefore, an important signal to investors of a country’s commitment to improving its business environment for trade.

    In keeping with the principle of Special and Differential Treatment, there are implementation flexibilities in Section II for developing and least developed countries, recognising they may need more time to implement the provisions of the Agreement. Like other developing and least developed countries, Barbados has access to the Trade Facilitation Agreement Facility which provides assistance for notification, capacity-building support and grants.

    The following other Member States of the Caribbean Community (CARICOM) have already ratified the Trade Facilitation Agreement: Trinidad & Tobago, Belize, Guyana, Grenada  and St. Lucia (2015), Jamaica and St. Kitts & Nevis  (2016), St. Vincent and the Grenadines, the Dominican Republic and Antigua & Barbuda (2017).

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

  • Golding Report on CARICOM-Jamaica Relations Tabled in Jamaican Parliament

    Golding Report on CARICOM-Jamaica Relations Tabled in Jamaican Parliament

    Alicia Nicholls

    The long-awaited report of the CARICOM Review Commission chaired by former Jamaican Prime Minister, Bruce Golding, has been tabled in the Jamaica Parliament by Prime Minister, the Most Excellent Andrew Holness, O.N. The CARICOM Review Commission, which was commissioned by Mr. Holness in July 2016 to review Jamaica’s relations within the Caribbean Community (CARICOM) and CARIFORUM (CARICOM plus the Dominican Republic) frameworks,  submitted its report in April 2017.

    For those who may have feared that the Review was intended to pave the way towards a Jamxit (Jamaica exit from CARICOM), these have been allayed to some extent. In giving its support for regional integration, the Golding Commission noted that “the value of regional integration…is as relevant and useful and perhaps, even more urgent today than it was at [CARICOM’s] inception”. However, it lamented the limited progress on many of the commitments signed on to by CARICOM Member States.

    In this vein, the Commission made thirty-three timely, pertinent and wide-ranging proposals aimed at addressing the structural and organisational deficiencies in CARICOM. Many of the Commission’s recommendations include things which most CARICOM Member States have already committed to under the CARICOM Single Market and Economy but have yet to be fully realised, while others are reminiscent of those made by the Ramphal Commission in its A Time For Action Report in 1992.  Other recommendations were more novel and include instituting sanctions for wilful non-compliance with commitments made, as well as the establishment of a Central Dispute Settlement Body similar to that of the World Trade Organisation (WTO) which would offer non-judicial options for settlement of disputes.

    The Commission also recommended that Jamaica establish closer ties with Northern Caribbean countries, namely the Dominican Republic and Cuba, including in the negotiation of trade agreements with third States.

    To address CARICOM’s implementation deficit, the Golding Commission has called for time-bound commitments and public progress reports on  Member States’ advancement towards meeting the various commitments. It also called for greater engagement of the private sector and the people of CARICOM.

    Failing commitment by Member States to make the commitments outlined in the report, the Commission recommended that Jamaica should withdraw from the CSME, but remain a member of CARICOM.

    The full report may be viewed here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

     

     

  • Caribbean Trade & Development Digest – January 28 – February 3, 2018

    Caribbean Trade & Development Digest – January 28 – February 3, 2018

    Welcome to the Caribbean Trade and Development Digest for the week of January 28- February 3, 2018! We are pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World. We hope you enjoy this edition.

    REGIONAL

    Caribbean Integration Too Slow, Too Weak – High-Ranking EU Diplomat Cautions Region Against Segmented Trade Market

    Jamaica Gleaner: The region’s attempt at integrating into a single market is taking too long and the progress is moving too slowly, Director-General of the European Commission’s Directorate General for International Cooperation and Development Stefano Manservisi has charged. Read more 

    Some CARICOM Countries To Benefit From PAHO Agreement

    Jamaica Gleaner: Seven Caribbean Community (CARICOM) countries are to benefit from a new multi-country strategy for technical cooperation in health through 2024. Read more 

    INTERNATIONAL

    23 African nations sign major aviation trade agreement

    ENCA: Africans have for years paid sky-high airfares when travelling within the continent but a major aviation trade agreement launched Monday by the African Union aims to change that. Read more 

    Trump stance on Korea-US free trade agreement softening

    Asia Times: Observers are optimistic the Trump administration will take a pragmatic approach to renegotiating KORUS, partly due to national security considerations. Read more 

    WTO members discuss how to organize work on fisheries subsidies negotiations after MC11

    WTO: WTO members meeting as the Negotiating Group on Rules on 30 January discussed how to organize work on fisheries subsidies to fulfil the 11th Ministerial Conference (MC11) decision to continue negotiations with a view to adopting an agreement by the next Ministerial Conference in 2019.  Read more 

    Russia initiates WTO compliance proceedings over pig products import restrictions

    WTO: The Russian Federation has requested WTO consultations with the European Union to address Russia’s claim that it has complied with a WTO ruling regarding its import restrictions on live pigs, pork and other pig products from the European Union. The request was circulated to WTO members on 30 January. Read more 

    UAE initiates WTO complaint against Pakistan over film duties

    WTO: The United Arab Emirates (UAE) has requested WTO consultations with Pakistan concerning certain anti-dumping measures on imports of biaxially oriented polypropylene (“BOPP”) film from the UAE. The request was circulated to WTO members on 29 January. Read more 

    European Commission’s new expert group on EU trade agreements holds first meeting

    EU: The European Commission’s new expert group on EU trade agreements held its first meeting today in Brussels. Read more 

    European Commission imposes measures on cast iron products from China

    EU: The Commission has today imposed definitive anti-dumping duties on iron castings from China. The measures range from 15.5% to 38.1%. Read more 

    Joint communique from Ghana-EU Interim EPA Committee 

    EU: The first meeting of the EPA Committee under the Interim Economic Partnership
    Agreement (IEPA) between Ghana and the EU was held in Accra, Ghana on 24 January
    2018. Read more 

    Liked this issue? To read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.

  • Caribbean Trade & Development Digest – January 21-27, 2018

    Caribbean Trade & Development Digest – January 21-27, 2018

    Welcome to the Caribbean Trade and Development Digest for the week of January 21-27, 2018! We are pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World. We hope you enjoy this edition.

    REGIONAL

    China looks forward to deepening trade with CARICOM

    St. Lucia News Online: Caribbean Community (CARICOM) countries have indicated a willingness to work with China regarding the socio-economic development of the 15-member grouping. Read more

    IMF predicts improvements in economic prospects for Caribbean/Latin America in 2018

    Jamaica Observer: The International Monetary Fund (IMF) says economic prospects for the region are generally improving and modest growth is expected in 2018 and 2019. Read more

    Bees are All the Buzz in Guyana

    St. Kitts & Nevis Observer: There’s a new buzz in Guyana, known in the agricultural sector for its sugar and rice. The Government of Guyana, with support from the Caribbean Development Bank (CDB), is aiming to add honey to the list, and in the process, provide a sustainable pathway out of poverty for Guyanese. Read more

    Sugar production up but concerns linger over changes in EU market regime

    The Reporter (Belize): Sugar production at the Belize Sugar Industries (BSI) at Tower Hill in Orange Walk is up by roughly 10%, with cane quality also better than the same time last year. Read more

    CARICOM signals interest in One Belt, One Road

    Stabroek: The Caribbean Community (Caricom) has signalled its interest in working with China to ascertain how its goals and priorities can be best linked with existing, new and emerging development initiatives from the East Asian country. Read more

    Barbados amongst eight jurisdictions removed from EU Tax list

    Barbados Advocate: Barbados has been named amongst eight jurisdictions that have been removed from the EU’s list of non-cooperative jurisdictions for tax purposes. This follows commitments made at a high political level, to remedy EU concerns. Read more

    Barbados International Business Ministry comments on blacklist removal

    Nation News: The Ministry of Industry, International Business, Commerce and Small Business Development says Barbados’ removal from the European Union’s “blacklist” of non-cooperative tax jurisdictions augurs well for the island. Read more

    INTERNATIONAL

    AU, UN-ECA underscore continental free trade area for Africa’s development

    The New York Times: The African Union (AU) and the United Nations Economic Commission for Africa (UN-ECA) on Thursday stressed the need to keep the momentum going in the realisation of the Continental Free Trade Area (CFTA) for Africa’s development. Read more

    Trans-Pacific trade deal to go ahead without the US

    Financial Times: Pacific Rim nations aim to sign a new deal in March, without the US. Read more

    Australia unveils plans to become one of the world’s top 10 arms exporters
    The Guardian: Australia is set to become one of the world’s largest arms exporters under a controversial Turnbull government plan. Read more
    Singapore and Sri Lanka sign free trade agreement
    Channel NewsAsia: The Sri Lanka-Singapore Free Trade Agreement will see Singapore companies enjoying potential tariff savings of up to S$10 million each year, among other benefits. Read more

    Former New Zealand MP says Canada’s new trans-Pacific trade deal may leave Indigenous Peoples defenceless

    CBC Canada: On the cusp of Canada’s signing of the resurrected Trans-Pacific Partnership, a former Maori parliamentarian from New Zealand is warning First Nation peoples that the deal could leave nation-to-nation treaties vulnerable to foreign interests. Read more

    West Africa should learn better trade and integration from its great ancient empires

    Quartz Africa: The dream of the founding fathers of the Economic Community of West African States (ECOWAS) was, among others, to foster trade and development among member states. But the integration dream will only be realized if institutional barriers to trade are addressed. Read more

    Crunch time for NAFTA as negotiators open round of talks in Montreal

    CNBC: U.S., Canadian and Mexican negotiators opened a key week-long round of talks to modernize NAFTA on Tuesday amid persistent concerns the Trump administration is preparing to walk away from the trade deal, a move that could roil financial markets. Read more

    Uruguay to push for free trade agreement with China in Mercosur

    Xinhua: Uruguay plans to push for a free trade agreement (FTA) between China and the Southern Common Market (Mercosur), the largest South American trade bloc, a top Uruguayan official said Wednesday. Read more

    Africa: free trade zones to boost trade

    Al Jazeera: Trade across Africa is about to get an overhaul with measures aimed at cutting the cost of doing business. It is hoped that a digital free trade zone will make connecting online easier for export and import companies. Read more

    What’s the deal with global trade? The view from Davos 2018

    WEF: World leaders came to the defence of free trade and global cooperation at the World Economic Forum’s Annual Meeting in Davos this week. Speeches by Narendra Modi, Theresa May, Emmanuel Macron, Angela Merkel and Justin Trudeau declared their countries “open for business.”Read more

    US, Korea continue modification and amendment negotiations on KORUS FTA

    USTR: United States Trade Representative Robert Lighthizer announced today negotiations on amendments and modifications of the United States-Korea Free Trade Agreement (KORUS FTA) will be held in Seoul, Korea on January 31 and February 1, 2018. Read more

    Commission reports on progress in EU-Mexico trade negotiations

    EU: The Commission today published the report from the latest round of talks for a new, modernised EU-Mexico trade agreement that took place in Brussels from 12 to 22 December 2017. Read more

    UN Environment and WTO launch dialogue on healthier environments through trade

    WTO: UN Environment Executive Director Erik Solheim and World Trade Organization Director-General Roberto Azevêdo announced today that their organizations would join forces to launch a new dialogue on promoting innovative ways of using trade to generate greater opportunities to strengthen our economies and our environments at the same time. Read more

    WTO issues panel report regarding EU duties on biodiesel from Indonesia

    WTO: On 25 January the WTO circulated the panel report in the case brought by Indonesia in “European Union — Anti-Dumping Measures on Biodiesel from Indonesia” (DS480). Read more

    Argentina ratifies the Trade Facilitation Agreement

    WTO: Argentina, host of the 11th Ministerial Conference recently held in Buenos Aires, has completed its ratification process for the Trade Facilitation Agreement (TFA). Read more

    Trilateral symposium to examine how innovative technologies can promote health-related SDGs

    WTO: The WTO, the World Intellectual Property Organization (WIPO) and the World Health Organization (WHO) will convene a symposium on 26 February 2018 to discuss challenges and opportunities to ensure that innovative technologies are developed in order to realize the right to health and the health-related UN Sustainable Development Goals (SDGs). Read more

    Korean request for retaliation against US in washers dispute referred to arbitration

    WTO: A Korean request for retaliation against the United States in a dispute over US anti-dumping and countervailing duties on large residential washers from Korea was referred to WTO arbitration. The matter was discussed at a 22 January meeting of the WTO’s Dispute Settlement Body (DSB). Read more

    BONUS

    CARICOM States and the WTO Dispute Settlement System: the case for greater engagement

    Paper by distinguished University of the West Indies law lecturer and trade attorney, Mrs. Nicole Foster published in the Commonwealth Law Bulletin. This paper “examines the participation of member states of the Caribbean Community (CARICOM) in the World Trade Organisation (WTO)’s dispute settlement system and its associated negotiations”. Read more

    Liked this issue? To read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.