Caribbean Trade Law and Development

Category: trade digest

  • Caribbean Trade & Development Digest – January 20-26, 2019

    Caribbean Trade & Development Digest – January 20-26, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of January 20-26, 2019! We do apologise for the delay in this week’s issue. 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

    The big trade news this week is that on the sidelines of the World Economic Forum (WEF) meeting in Davos, Switzerland, some seventy-six World Trade Organisation (WTO) members agreed to launch negotiations on an e-commerce agreement.

    Below are the other major trade and development headlines from across the Caribbean region and the world for last week:

    REGIONAL

    Tariff Flaws Crippling CARICOM Exports, Says Trade Expert

    Jamaica Gleaner: Trade expert Karl Hyatt has called for meaningful amendments to the Common External Tariff (CET) now under review to address some of the entrenched flexibility that has been abused by some CARICOM states. Read more 

    Dominica blasts international financial community over unilateral demands, calls for CARICOM unity

    St Lucia News Online: The Dominica government Monday blasted the international community over its unilateral demands for tightening measures within the international financial services sector and again called for a united Caribbean Community (CARICOM) approach to the situation. Read more 

    Jagdeo meets CARICOM Chairman on no-confidence motion

    Stabroek: The Leader of the Opposition, Dr. Bharrat Jagdeo,  today met with the Chairman of CARICOM, Dr. Timothy Harris, Prime Minister of St. Kitts and Nevis and a team, including CARICOM-Secretary-General, Ambassador Irwin LaRocque , at the Office of the Leader of the Opposition on Church Street. The meeting discussed the no-confidence motion against the current APNU+AFC coalition government, a statement from Jagdeo’s office said. Read more 

    Private Sector and Labour Leaders to Participate in Caricom Heads Meetings

    JIS News: The revised Treaty of Chaguaramas is to be amended to allow representatives of the private sector and the Caribbean Congress of Labour to participate in CARICOM Heads of Government meetings, says Barbadian Prime Minister, Hon. Mia Mottley. Read more 

    Statement by Heads of Government of CARICOM on Venezuela

    CARICOM: The following Heads of Government of the Caribbean Community (CARICOM) – Antigua and Barbuda, Barbados, Belize, Dominica, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Trinidad and Tobago; Foreign Ministers of Grenada and Suriname;, meeting by video-conference on 24 January 2019, issued the following statement. Read more 

    High level CARICOM talks held in Guyana

    St. Kitts & Nevis Observer: The Prime Minister of St. Kitts and Nevis and current Chairman of the Caribbean Community (CARICOM), Dr. the Honourable Timothy Harris, is currently in the Cooperative Republic of Guyana where he is holding several rounds of discussions with top level CARICOM officials, including Secretary-General, Ambassador Irwin LaRocque. Read more 

    CARICOM Development Fund clinches US$1m pact with India

    Stabroek: India and the CARICOM Development Fund (CDF) signed a Contribution Agreement on January 19th, 2019, in Paramaribo Suriname which provides for a grant allocation of US$1m to the CDF’s capital fund. Read more 

    INTERNATIONAL

    DAVOS-Nearly half WTO members agree to talks on new e-commerce rules

    Reuters: Impatient with the lack of World Trade Organization rules to cover the explosive growth of e-commerce, 76 countries and regions agreed on Friday to start negotiating this year on a set of open and predictable regulations. Read more 

    Uruguay diverges from Mercosur, aligns with Mexico on Venezuela crisis

    Buenos Aires Times: Uruguay and Mexico call for peaceful resolution in a joint statement released Wednesday, after opposition leader Juan Guaido declares himself interim president. Read more 

    Brexit trade deal agreed by British and Israeli ministers, in principle

    Jewish News: British and Israeli ministers have announced that they have agreed a post-Brexit trade agreement in principle. Read more 

    Brexit: New Zealand’s Jacinda Ardern says trade deal ‘a priority’

    BBC: New Zealand’s prime minister has said she is “ready and willing” to sign a post-Brexit trade deal with the UK. Jacinda Ardern said negotiating a free trade agreement would be a “real priority” once the UK had left the EU. Read more

    Japan-U.S. talks on bilateral trade deal likely to face delay

    Japan Times: Japan and the United States are unlikely to open negotiations on a proposed bilateral trade pact before the end of this month, due chiefly to the prolonged partial U.S. government shutdown, sources have said. Read more 

    Commerce Secretary Wilbur Ross: The US is still ‘miles and miles’ from a trade deal with China

    CNBC: Commerce Secretary Wilbur Ross said Thursday the U.S. is still “miles and miles” from a trade deal with China. Read more

    No Sweeping Free Trade Deal, Brussels Tells Washington

    Foreign Policy: Six months after U.S. President Donald Trump proclaimed he’d already reached a trade deal with the European Union, Brussels has only now laid out its preliminary conditions for talks. Read more 

    Expert urges caution over speedy trade deal with EU

    Radio New Zealand: A trade expert is advising negotiators not to rush a free trade agreement with the European Union, New Zealand’s third largest export market. Read more

    Brexit: Liam Fox yet to seal no-deal trade agreements

    BBC: The UK has yet to finalise agreements to replace existing free trade deals the EU has with 40 big economies if there is a no-deal Brexit. International Trade Secretary Liam Fox said he “hoped” they would but it depended on whether other countries were “willing to put the work in”. Read more 

    WTO NEWS

    United States appeals panel report regarding US duties on Turkish pipe and tube products

    WTO: The United States filed an appeal on 25 January concerning the WTO panel report in the case brought by Turkey in “United States — Countervailing Measures on Certain Pipe and Tube Products” (DS523). The panel report was circulated to WTO members on 18 December 2018. Read more 

    DG Azevêdo meets ministers in Davos: discussions focus on reform; progress on e-commerce

    WTO: Participating in a series of ministerial discussions during the World Economic Forum Annual Meeting in Davos this week, Director-General Roberto Azevêdo reviewed the challenges and opportunities facing global trade today, and stressed that the trading system must evolve if it is to remain relevant. Read more 

    DDG Yi stresses importance of WTO-APEC cooperation in crucial period for global trade

    WTO: Deputy Director-General Yi Xiaozhun has stressed the importance of exploiting the synergies between the WTO and the Asia-Pacific Economic Cooperation (APEC) in a crucial period for global trade. Read more 

    Registration opens for public hearing in “US — Countervailing Measures on Softwood Lumber from Canada”

    WTO: At the request of the parties in the dispute “US — Countervailing Measures on Softwood Lumber from Canada” (DS533), the panel has decided to open its first substantive meeting to public observation on 26, 27, and 28 February 2019. The live screening will take place at the WTO’s headquarters in Geneva. Read more 

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.

  • Caribbean Trade and Development Digest – January 13 – 19, 2019

    Caribbean Trade and Development Digest – January 13 – 19, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of January 13-19, 2019! 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

    Brexit turbulence has dominated the headlines for yet another week. British MPs, as expected, voted against the current Withdrawal Agreement negotiated by Prime Minister Theresa May’s government with the EU. With 432 votes against, versus just 202 in favour of the deal, it was the biggest legislative loss for a British Government in modern British history. Coupled with narrowly surviving a no confidence motion brought by the Leader of the main opposition, Labour Leader Jeremy Corbyn, Prime Minister May now has three days  (until Monday) to bring a ‘Brexit Plan B’ to Parliament.

    On January 19, 2018, the eleven parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) held their first ministerial meeting since its entry into force on December 30, 2018, in Japan this week.

    Below are the other major trade and development headlines from across the Caribbean region and the world for last week:

    REGIONAL

    Trump weighs dramatic tightening of embargo on Cuba

    Associated Press: The Trump administration is weighing what could become the most serious tightening of the U.S. trade embargo on Cuba in more than two decades — a move that could unleash a flurry of lawsuits against foreign companies that have invested on the island. Read more 

    Shaw wants more aggressive approach to trade facilitation programme

    Jamaica Observer: Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw has called on Government agencies and departments to move with a greater sense of urgency to facilitate trade and the private sector’s need for a more responsive Government. Read more

    Cuba, Iran to improve trade relations

    Prensa Latina: The 17th Session of the Cuba-Iran Intergovernmental Commission, whose main goal is to expand collaboration on various economic and social areas, has concluded on Wednesday in Havana. Read more 

    Antigua & Barbuda hit visitor arrival record 

    Caribbean360: Antigua and Barbuda welcomed over one million visitors to the destination in 2018, topping 2017 figures and leading Antigua and Barbuda Minister of Tourism Charles Fernandez to call 2018, “a record-setting year” for the twin-island nation. Read more

    Correspondent banking still an issue for CARICOM

    Love FM (Belize): Plaguing Belize and other Caribbean countries is the issue of correspondent banking, CARICOM along with groups have been lobbying for restored relations. Read more

    Jamaica says buy-back of Petrojam shares not a CARICOM issue

    Jamaica Observer: Minister of Foreign Affairs and Foreign Trade Senator Kamina Johnson Smith has dismissed Opposition criticisms that the Government has not involved the Caribbean Community (Caricom) in its negotiation of a buy-back of the 49 per cent shares in Petrojam from Venezuela. Read more 

    Gopee-Scoon: TT preparing for Brexit

    Newsday: Trade and Industry Minister Paula Gopee-Scoon on Wednesday said TT was doing what it could to deal with the outcome of the Brexit process in the UK. Read more

    PM: OAS vote on Venezuela was in Trinidad’s interest

    Newsday: The Prime Minister says the decision to abstain on a vote by the Organisation of American States to not recognise the legitimacy of the presidency of Venezuelan President Nicolas Maduro was done in the country’s interest. Read more 

    Trinidad & Tobago Rice production plummets 97%

    Newsday: LOCAL rice production has plummeted about 97 per cent in the past 26 years and 95 per cent of what is currently produced is used as input for animal feed. Read more

    Jamaica exports grew 17.6% in Q1 2018

    Jamaica Gleaner: Exports of Jamaica increased 17.6 per cent year-on-year in the first quarter of 2018, according to an Inter-American Development Bank (IDB) report which said that sales from Latin America and the Caribbean to overseas markets were the highest in six years. Read more

    Arley Gill to be Grenada’s new ambassador to CARICOM

    Now Grenada: Arley Gill is nominated to be Grenada’s new ambassador to CARICOM. Read more

    IDB: Latin America, Caribbean register highest exports in six years 

    Jamaica Gleaner: The Inter-American Development Bank (IDB) says exports from Latin America and the Caribbean, including Jamaica, hit their highest level in six years as a result of a 9.9 per cent increase in 2018, albeit amid growing downside risks in the future. Read more 

    INTERNATIONAL

    These are the biggest risks to the global economy in 2019

    World Economic Forum: Major risks include a growth recession in China, a rise in global long-term real interest rates, and a crescendo of populist economic policies that undermine the credibility of central bank independence, resulting in higher interest rates on safe, advanced-country government bonds. Read more 

    Expansion of Pacific trade deal discussed at ministerial meeting in Tokyo

    Japan Times: The 11 members of a trans-Pacific free trade agreement on Saturday held their first ministerial meeting since the pact entered into force, discussing its future expansion as well as how to counter the rise of protectionism. Read more 

    China Offers a Path to Eliminate U.S. Trade Imbalance, Sources Say

    Bloomberg: China has offered to go on a six-year buying spree to ramp up imports from the U.S., in a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations. Read more 

    Malaysia hopes for RCEP to finalise by end-2019

    New Strait Times: Malaysia hopes to conclude talks with other Regional Comprehensive Economic Partnership (RCEP) member countries by the end of this year. Read more 

    CPTPP members signal intent to expand the agreement

    Strait Times: Members of a landmark 11-nation Pacific Rim trade deal have signalled their openness to expand the agreement by taking in new members to form a stronger united front against the rise of protectionism. Read more 

    Climate change clouds Australia’s Pacific charm offensive 

    ABS-CBN: Australian Prime Minister Scott Morrison’s Pacific charm offensive went off course on Friday when he was forced to defend Fiji’s accusations of inaction over climate change.  Read more

    India keen on closer trade ties with neighbours

    Daily Star: India is keenly promoting the trade potential of its northeastern states because it would not only give an economic boost to the region but also enable closer engagement with Bangladesh, Myanmar and Bhutan. Read more

    Can ASEAN cope with the trade war?

    Strait Times: Asean is facing a prolonged period of heightened United States-China competition and, hence, of greater uncertainty. The most obvious manifestation of this new phase in relations between the two nations is the so-called “trade war”. Read more

    Trudeau’s U.S. Envoy Confident on USMCA Passage, Tariff Relief

    Bloomberg: Canada’s ambassador to Washington is confident that the U.S. will both pass the revised North American trade deal and lift tariffs on steel and aluminum. Read more 

    New trade agreements secure Australian exports to Britain post-Brexit

    Sydney Morning Herald: Australia and Britain have signed a new bilateral Wine Agreement and Mutual Recognition Agreement overnight in London, which will help ensure the continued flow of trade post-Brexit. Read more 

    Lifting trade barriers key to Africa’s economic emergence, DP World chairman says

    The National: DP World’s chairman urged African leaders to lift barriers on trade after the global ports operator last year pushed to expand its footprint in the continent where it faces some opposition to its operations. Read more 

    AfCFTA seeks to increase intra-Africa trade

    KBC (Kenya): African states are nearing the threshold of 22 countries to help operationalise the African Continental Free Trade Agreement (AfCFTA). Read more 

    Vietnam-Africa trade reaches US$6.6 million in 2018

    Nhan Dan Online: Bilateral trade between Vietnam and African nations hit US$6.6 billion in 2018, with Vietnam’s exports worth US$3 billion, up 10% from the previous year. Read more 

    Voters would back remaining in EU over May’s Brexit deal

    The Guardian: Opinium poll for the Observer finds only 35% of voters would back Theresa May’s deal if remain was an option. Read more 

    Brexit; Theresa May’s deal is voted down in historic defeat 

    BBC: Prime Minister Theresa May’s Brexit deal has been rejected by 230 votes – the largest defeat for a sitting government in history. MPs voted by 432 votes to 202 to reject the deal, which sets out the terms of Britain’s exit from the EU on 29 March. Read more

    Theresa May survives vote, Britain remains in Brexit deadlock

    The Guardian: Theresa May has survived as prime minister after weathering a dramatic no-confidence vote in her government, but was left scrambling to strike a Brexit compromise that could secure the backing of parliament. Read more 

    May scrambles to agree plan B for Brexit ahead of deadline

    Sky News: The PM will meet with cabinet ministers at her Chequers retreat but has until Monday to come up with a new plan for Brexit. Read more

    Amazon warns UK sellers to prepare for no-deal Brexit disruption to deliveries

    Independent: Amazon has warned UK businesses trading through its online marketplace to prepare for a no-deal Brexit or risk not being able to sell to customers in the EU. Read more 

    Brexit: Liam Fox yet to seal no-deal trade agreements

    BBC: The UK has yet to finalise agreements to replace existing free trade deals the EU has with 40 big economies if there is a no-deal Brexit. Read more 

    The EU moves forward efforts at UN on multilateral reform of ISDS

    EU: Today, the EU and its Member States submitted two papers to the UN Working Group under the United Nations Commission on International Trade Law (UNCITRAL). The Working Group has been tasked with examining reform of investor-state dispute settlement (ISDS). Read more 

    EU-US Trade Talks: European Commission presents draft negotiating mandates

    EU: The European Commission has today adopted proposals for negotiating directives for its trade talks with the United States: one on conformity assessment, and one on the elimination of tariffs for industrial goods. Read more 

    EU imposes safeguard measures on rice from Cambodia and Myanmar

    EU: An investigation has confirmed a significant increase of imports of Indica rice from Cambodia and Myanmar into the European Union that has caused economic damage to European producers. The European Commission has therefore decided today to re-introduce import duties that will be steadily reduced over a period of three years. Read more

    EU Chief Negotiator updates civil society on the state of play of negotiations with Mercosur

    EU: On Tuesday 15 January the European Commission held a meeting with civil society representatives on the state of play of trade negotiations between the EU and Mercosur (Argentina, Brazil, Paraguay and Uruguay). Read more 

    EU requests bilateral dispute settlement consultations with Ukraine over wood export ban

    EU: The EU has formally requested consultations with Ukraine under the EU-Ukraine Association Agreement on Ukraine’s export ban on unprocessed wood. Read more 

    European Commission set to adopt definitive safeguard measures on imports of steel

    EU: The European Commission welcomes the support received yesterday from Member States to its plan to impose definitive safeguard measures on imports of steel. Read more 

    WTO NEWS 

    General Council Chair appoints facilitator to address disagreement on Appellate Body

    WTO: General Council Chair Junichi Ihara of Japan has appointed Amb. David Walker of New Zealand to assist him in working with WTO members to resolve differences on the urgent matter of the functioning of the organization’s Appellate Body. Read more

    Venezuela initiates WTO dispute case against Colombia regarding liquid fuel restrictions

    WTO: Venezuela has requested WTO dispute consultations with Colombia regarding certain Colombian measures affecting the distribution of liquid fuels. Venezuela’s request was circulated to WTO members on 14 January. Read more 

    Members review US request for panel on Turkish duties, adopt rulings on Brazil tax, US tuna

    WTO: At a meeting of the Dispute Settlement Body (DSB) on 11 January, WTO members considered a request from the United States for the establishment of a panel to rule on additional duties levied by Turkey on certain US imports. WTO members also formally adopted panel and Appellate Body rulings concerning tax measures in Brazil used to promote domestic production of automotive and high-tech goods as well as revised US “dolphin-safe” tuna labelling requirements. Read more 

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.

  • Caribbean Trade & Development Digest – November 25 – December 1, 2018

    Caribbean Trade & Development Digest – November 25 – December 1, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of November 25-December 1, 2018! 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, leaders of the EU-27 at their summit in Brussels approved the draft Brexit deal struck between the UK and EU. Ahead of the UK parliamentary vote later this month, Prime Minister Theresa May has been trying to sell the deal to UK parliamentarians and the UK public alike, including in a public letter to the nation.

    G20 leaders met in Buenos Aires from November 30-December 2 for the group’s thirteenth summit and its first held in a South American country. Specifically, the leaders noted the following at paragraph 27 of their declaration:

    International trade and investment are important engines of growth, productivity, innovation, job creation and development. We recognize the contribution that the multilateral trading system has made to that end. The system is currently falling short of its objectives and there is room for improvement. We therefore support the necessary reform of the WTO to improve its functioning. We will review progress at our next Summit.

    On the sidelines of the G20 Summit, the leaders of the US, Mexico and Canada signed the US-Mexico-Canada Agreement (USMCA), meant to replace NAFTA. The deal now needs domestic ratification.

    In regional news, The Bank of Nova Scotia (Scotia Bank), announced its withdrawal from nine Caribbean countries. Its operations are being sold to the Trinidad-based financial services group, Republic Financial Holdings. This move has raised concern in several of the affected countries.

    Some sad news is that the Geneva-based International Centre for Trade and Sustainable Development (ICTSD) closed its doors this week. Through its publications, the ICTSD was a reliable source for free, timely, high quality and cutting-edge trade reporting and analysis relied on by trade and development academics, practitioners and policymakers alike. Their presence will indeed be missed.

    Please see below some of the other major headlines:

    REGIONAL

    T&T to host special CSME meeting in December

    LoopTT: Trinidad and Tobago will host a Special Meeting of the Heads of Government of the Caribbean Community (CARICOM) from December 3 to 4 which will focus on the CARICOM Single Market and Economy (CSME).  Read more 

    Takeover of Scotiabank likely to be raised in caucus at special CARICOM meeting

    Stabroek: Republic Bank’s planned acquisition of Scotiabank’s operations in Guyana and eight Caribbean countries is not on the agenda of the upcoming special meeting of the Caribbean Community Heads of Government on the CARICOM Single Market and Economy (CSME) but Foreign Affairs Minister Carl Greenidge expects that it will be raised in caucus. Read more 

    Republic Financial Holdings to acquire Scotiabank in nine Caribbean countries

    Nation News: Republic Financial Holdings Limited (RFHL) announced today, that it has entered into an agreement to acquire Scotiabank’s banking operations in Guyana, St Maarten and the Eastern Caribbean territories, including Anguilla, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines. Read more 

    Josie Warns Of Potential For Dire Consequences From Scotiabank Sale

    St Lucia Times: Former government minister, Peter Josie, has warned of potential dire consequences from a decision by Scotiabank to exit nine Caribbean countries, including Saint Lucia. Read more

     

    CARICOM Sugar Industries prepared to supply total regional demand

    RJR News: The Sugar Association of  the Caribbean has stated that for the 2017/18 crop, its members met 80 per cent of  the brown sugar needs of  Caribbean Community (CARICOM). Read more 

    T&T can lose CARICOM market for fuel

    Trinidad Guardian: T&T faces the pos­si­bil­i­ty of los­ing Cari­com mar­kets for the ex­port of fu­el as the price of fu­el com­ing out of T&T is like­ly to in­crease. Read more 

    Cuba’s most valuable exports: its doctors

    TRT World: Cuba over the last 50 years has honed in on its medical expertise to be able to punch above its weight in the international arena and garner soft power. Cuba has begun to withdraw more than 8,300 Cuban doctors from Brazil, potentially leaving millions of Brazilians, particularly its indigenous communities, without access to basic healthcare. Read more

    CARICOM Leaders claim T&T has unfair advantage in manufacturing sector

    Power 102 FM: Prime Minister, Dr Keith Rowley, says CARICOM leaders believe this country has an unfair advantage in the manufacturing sector because it benefits from lower electricity rates. Read more

    CARICOM calls for seat on ICAO council

    Stabroek: CARICOM is calling for a seat on the Council of the International Civil Aviation Organization (ICAO) as a means of having its concerns properly represented. Read more 

    CARICOM highlights work against gender violence in the region

    Prensa Latina: The Secretary General of the Caribbean Community (Caricom), Irwin LaRocque, highlighted on Sunday the important work being done in the region against gender violence. Read more 

    CARICOM Secretary General describes new management system

    CARICOM: A detailed update on the new Results-Based Management (RBM) System being pursued by the Caribbean Community (CARICOM) Secretariat was described by Deputy Secretary-General, Ambassador Dr. Manorma Soeknandan during a courtesy visit with Prime Minister Dr. the Honourable Timothy Harris. Read more 

    US Government makes US$1 million computer equipment to CARICOM IMPACS

    Bajan Reporter: U.S. Embassy Bridgetown, through its Office of International Narcotics and Law Enforcement Affairs (INL), participated in an official handover ceremony to commemorate the Government of the United States of America’s U.S. $1 million computer equipment donation to the CARICOM IMPACS/Joint Regional Communication Centre (JRCC). Read more 

    INTERNATIONAL

    G20 agreement backs ‘rules-based’ order but bows to Trump on trade reforms

    The Guardian: World leaders have signed off on an agreement which reaffirms a basic commitment by the world’s biggest economies to multilateral trade and a “rules-based international order”, but bows to US demands for urgent reform of the World Trade Organisation (WTO). Read more 

    G20: US and China agree to suspend new trade tariffs

    BBC: US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to halt new trade tariffs for 90 days to allow for talks, the US says. Read more

    WTO reform: EU proposes way forward on the functioning of the Appellate Body

    EU: The EU together with other members of the World Trade Organisation (WTO) – Australia, Canada, China, Iceland, India, Korea, Mexico, New Zealand, Norway, Singapore and Switzerland – unveiled a proposal for concrete changes to overcome the current deadlock in the WTO Appellate Body. The proposal will be presented at the meeting of the WTO General Council on 12 December. Read more

    USTR Statement on China’s Auto Tariffs

    USTR: U.S. Trade Representative Robert Lighthizer released a statement regarding China’s tariffs on U.S.-produced automobiles. Read more

    Brexit: Trump says May’s Brexit plan could hurt UK-US trade deal

    BBC: Donald Trump has suggested Theresa May’s Brexit agreement could threaten a US-UK trade deal. The US president told reporters the withdrawal agreement “sounds like a great deal for the EU” and meant the UK might not be able to trade with the US. Read more

    Argentina, India agree to increase trade flows

    Prensa Latina: Argentine President Mauricio Macri and India”s Prime Minister Narendra Modi pledged on Saturday to increase trade flow on several fronts and delved into the possibility that Argentina exports lithium to India. Read more

    EU leaders agree UK’s Brexit deal at Brussels summit

    BBC: EU leaders have approved an agreement on the UK’s withdrawal and future relations – insisting it is the “best and only deal possible”. Read more 

    U.S., Mexico and Canada ink new trade agreement, but final ratification remains big hurdle

    USA Today: President Donald Trump and the leaders of Mexico and Canada signed a revised trade pact Friday that changes many of the rules governing the free flow of commercial goods across North America.  Read more 

    After signing new North American trade pact at G-20, Trump turns sights to China

    Washington Post: President Trump suggested his Saturday showdown with Chinese President Xi Jinping could produce a cease-fire in the tariff war, capping a day that saw the American leader reach a milestone in his populist economic crusade by signing a regional trade deal with Mexico and Canada. Read more

    Parties to government procurement pact approve UK’s terms of participation post-Brexit

    WTO: At a meeting of the WTO’s Committee on Government Procurement on 27 November 2018, parties to the Government Procurement Agreement (GPA) approved in principle the United Kingdom’s final market access offer to take part in the GPA, in its own right, following its departure from the European Union. Read more

    New WTO publication analyses potential impact of Blockchain on international trade

    WTO: Amid growing interest and debate on Blockchain, the WTO launched a new publication today (27 November) that seeks to demystify the technology and analyse its capacity to transform world trade. The publication entitled “Can Blockchain revolutionize international trade?” explores how the technology could enhance areas related to WTO work and examines challenges that will have to be tackled to unlock the technology’s potential. Read more 

    World Trade Outlook Indicator signals further loss of momentum in trade growth into Q4

    WTO: Trade growth is likely to slow further into the fourth quarter of 2018 according to the WTO’s latest World Trade Outlook Indicator (WTOI) released on 26 November. The most recent WTO reading of 98.6 is the lowest since October 2016 and reflects declines in all component indices. It is below the previous value of 100.3 and falls under the baseline value of 100 for the index, signalling that trade growth in the coming months is expected to be below-trend. Read more 

    Unlocking Africa’s trade potential

    Forbes Africa: The African Export-Import Bank (Afreximbank) has identified intra-African trade as a critical factor for unlocking Africa’s trade potential. Read more 

    Study: Trade supports over 36 million jobs across the EU

    EU: Two new studies published today by the European Commission highlight the increasing importance of EU exports for job opportunities in Europe and beyond. Read more 

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.

  • Caribbean Trade and Development Digest – November 13 – 17, 2018

    Caribbean Trade and Development Digest – November 13 – 17, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of November 13-17, 2018! We do apologise for the delay in this week’s Caribbean Trade and Development Digest, but 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

    Last week was quite a busy week in trade policy news on the regional and international fronts! There was the announcement and release of the draft Brexit withdrawal agreement between the UK and EU. The Asia Pacific Economic Cooperation (APEC) Summit in Port Moresby, Papua New Guinea, ended with no joint statement amidst disagreement between the US and China. On the regional front, the CARICOM Council for Trade and Economic Development (COTED) held its 47th meeting and released a statement  in support of the WTO.

    REGIONAL

    COTED Statement on WTO

    CARICOM: CARICOM Trade Ministers, meeting in Georgetown, Guyana, on 15 and 16 November 2018, at the Forty-Seventh Meeting of the Council for Trade and Economic Development (COTED), re-iterated the Caribbean Community’s support for the rules-based, multilateral trading system embodied in the World Trade Organisation (WTO). Read more 

    Dubai-Caribbean non-oil trade hits $273 million in 2017

    Khaleej Times: The value of non-oil trade between Dubai and Caribbean countries totalled $273 million in 2017, according to new data released by the Dubai Chamber of Commerce and Industry ahead of the first UAE-Caribbean Cooperation Forum in Dubai. Read more

    St Lucia set to launch import substitution programme

    St Lucia Times: The Ministry of Agriculture, with the support of the government of Taiwan, will next year begin implementing an import substitution programme for a range of crops in an effort to reduce Saint Lucia’s food import bill. Read more

    Guyana, EU to sign pact on forest governance

    Stabroek: After around six years of engagements, Guyana and the European Union (EU) are to sign an agreement that will bolster forest governance and address issues such as illegal logging. Read more 

    China eyes US$10 trillion in imports from Latin America, Caribbean

    Stabroek: The Government of the People’s Republic of China is looking to import some US$10 trillion in goods and services from Latin America and the Caribbean over the next five years, China’s Ambassador to Jamaica Tian Qi has disclosed. Read more 

    Advancing Single Market and Economy pivotal to CARICOM’s future – LaRocque

    Stabroek: If CARICOM is to safeguard the region’s interests in the global arena and achieve the objective of improving the lives of its citizens, its most important immediate task is to advance the implementation of the Single Market and Economy (CSME), Secretary General Ambassador Irwin LaRocque says. Read more 

    INTERNATIONAL

    APEC summit wraps with no joint statement amid US-China discord

    CNN: For the first time in its 25-year history, the Asia-Pacific Economic Cooperation summit ended Sunday with its leaders failing to agree on a formal joint statement.

    All 21 APEC leaders at the annual meeting in Papua New Guinea were in agreement except China, a source within the meeting told CNN. Read more
    European Commission welcomes agreement on foreign investment screening framework
    EU: Today the European Parliament, the Council and the Commission reached a political agreement on an EU framework for screening foreign direct investment. Read more

    Japan initiates WTO dispute complaint against Korean support for shipbuilders

    WTO: Japan has requested WTO dispute consultations with Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry. Japan’s request was circulated to WTO members on 13 November. Read more

    WTO Members Prepare to Shift Gears in Fisheries Negotiations

    ICTSD: WTO members negotiating a proposed agreement to tackle harmful fisheries subsidies held a second cluster of meetings last week as part of their September-December work programme, hearing reports about brainstorming sessions in “incubator groups” the week before and completing the streamlining of a document consolidating all existing proposals.  Read more 

    Kenya Eyes High Table Seat At Inaugural Intra-Africa Trade Talks

    AllAfrica: Kenya is keen to play a lead role in steering intra-Africa trade as the continent meet for the Inaugural Intra-Africa Trade Fair (IATF) in Cairo, Egypt, next month. Read more

    May sticks to Brexit deal as opponents seek formal challenge

    Reuters: British Prime Minister Theresa May vowed on Monday to stick to her draft European Union divorce deal as dissenting lawmakers in her own party tried to trigger a leadership challenge. Read more 

    Vice president Pence pushes Japan for free trade agreement

    Reuters:  U.S. Vice President Mike Pence, keeping up pressure on Japan to cut its trade surplus with the United States, said on Tuesday American goods and services too often faced barriers in Japan and a bilateral trade agreement offered the best way forward. Read more 

    Singapore, China sign several agreements, including free trade agreement upgrade

    ChannelNewsAsia: China and Singapore have signed a slew of agreements, including the upgrade of a bilateral free trade pact, which will allow greater market access for Singapore companies. Read more

    China, Spain, Latin America: A New Growth Axis in Global Trade

    World Crunch: Spain, an industralized EU member with close ties to Latin America, could profit from easing the entry of Chinese firms keen to invest in and export to the Americas. Read more

    How news media can boost China-Latin America relations

    Xinhua: There’s no doubt of the news media’s impact across borders and in fostering relations between countries and entire regions. Nowhere is this more true than in the relationship between China and Latin American and the Caribbean (LAC). Read more 

    WTO working more closely with UK on Brexit

    RTE: A senior World Trade Organization (WTO) representative has said the body is watching Brexit negotiations between the European Union and the UK “very closely”. Read more 

    Trump’s protectionism might just save the WTO

    The Washington Post: President Trump is right that the World Trade Organization badly needs reform.Keeping the United States within the WTO should obviously be Plan A. But it would be prudent for other members to start thinking about devising a new international trade organization minus the United States in order to avoid the “my way or the highway” blackmail that has become the American president’s signature negotiating style. Read more 

    WTO members adopt roadmap for reducing technical barriers to trade

    WTO: WTO members achieved a breakthrough at a 14-15 November meeting of the Committee on Technical Barriers to Trade (TBT) by agreeing on a list of recommendations that aim at reducing obstacles to trade and improving implementation of the WTO’s TBT Agreement.  Read more 

    Launch of WTO Data Portal

    WTO: The WTO launched on Friday 16th November its new online database. The WTO Data portal brings together a wide range of statistical indicators on international trade and other WTO-related information. Read more 

    US-China Discord Dominates APEC Summit

    Jakarta Globe: The United States and China swapped barbs over trade, investment and regional security at an Asia Pacific Economic Cooperation, or Apec, summit on Saturday, as growing fault lines among members suggested little prospect of consensus at the weekend meeting. Read more 

    India to adopt new approach toward free trade agreements

    Japan Times: India is planning to adopt a new strategy toward negotiating free trade agreements even as the country is engaged in talks with members of the Regional Comprehensive Economic Partnership, the proposed ASEAN-focused regional free trade area. Read more 

    Egypt, Eurasian Union to start negotiating free trade agreement

    Egypt Today: Egypt and the Eurasian Economic Union (EAEU) signed a framework document for negotiations on the free trade agreement between the two sides, as they both decided to hold the first tournament of negotiations in mid- January in Cairo. Read more 

    India, Mauritius likely to sign free trade pact in January

    Hindu Business Line: The proposed India-Mauritius free trade agreement,being given the final touches by negotiators this week, is likely to be signed in January during Mauritius PM Pravind Kumar Jugnauth’s India visit, a government official has said. Read more 

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.