Caribbean Trade Law and Development

Category: trade digest

  • Caribbean Trade & Development Digest – February 11-18, 2018

    Welcome to the Caribbean Trade and Development Digest for the week of February 11-18, 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

    Lack of financial transparency at CARICOM Secretariat – Golding Report

    Antigua Observer: The lack of transparency surrounding the finances of the CARICOM Secretariat has found its way into the “Golding Report,” which examines relations between Jamaica and CARICOM and CARIFORUM, with a call for the revamping of the institution’s accountability procedures. Read more

    (Caribbean) Region hits 30 million visitor mark

    CTO:  The catastrophic hurricanes that devastated some Caribbean destination last September slowed down tourism’s progress but did not stop it, according to figures released by the Caribbean Tourism Organization (CTO), the authority on regional tourism statistics. Read more 

    Gov’t explores new system to track and boost tourist spend

    Barbados Today: Minister of Tourism Richard Sealy has disclosed that a new system was being developed to better capture and monitor tourist spend in Barbados as Government continued to seek ways to grow the sector. Read more

    Government looks to boost CSME access for Jamaicans

    JIS: The Government will be intensifying efforts for Jamaican skilled workers and businesses to have greater access to the CARICOM Single Market and Economy (CSME). Read more 

    Barbados trade mission to Guyana

    CBC (Barbados): Barbados is hoping to increase its trade relations with Guyana as a 10-member trade mission opens a two-day visit here Monday. Read more 

    Holness to assume chairmanship of CARICOM

    Jamaica Observer: Prime Minister Andrew Holness is to assume the Chairmanship of CARICOM from 1st July to 31st December 2018. Read more 

    ‘Deathly afraid’ for local ownership under WTO

    Tribune242: Arawak Homes’ chairman is “deathly afraid” that WTO membership will undermine Bahamian economic ownership because many locally-owned firms cannot compete internationally. Read more 

    SLCSI introduces new executive board

    St. Lucia News Online: The Saint Lucia Coalition of Service Industries (SLCSI) is one of the twelve national service coalitions within the Caribbean Community (CARICOM) and the Dominican Republic (CARIFORUM collectively) and also the Caribbean Network of Service Coalitions (CNSC). Read more 

    INTERNATIONAL

    Azevêdo joins ACP brainstorming session: ‘we need to explore innovative ways forward’

    WTO: Speaking at a meeting of the African, Caribbean and Pacific Group of States (ACP) at the WTO’s headquarters on 15 February, Director-General Roberto Azevêdo urged members to be ready to explore fresh perspectives and new pathways which may help move negotiations forward at the WTO. Read more 

    Commentary: Temper expectations about RCEP free trade agreement

    Channel Newsasia: It looks like India may be dragging its feet on some key issues within the Regional Comprehensive Economic Partnership but there’s good reason for all parties to manage their expectations, says one observer from the ISEAS-Yusof Ishak Institute. Read more 

    After the WTO’s Ministerial Conference, Where Next for Africa?

    ICTSD Bridges: In the aftermath of the December WTO Ministerial Conference in Buenos Aires, pessimism about the future of the institution has been reaching record levels and no clear plan has emerged yet on where to take the WTO next. In this rather bleak environment, what are the possible options for African countries to advance their trade and development priorities? Read more 

    Mnuchin says Washington studying possible return to TPP through renegotiation

    The Japan Times: President Donald Trump’s administration is actively discussing the possibility of rejoining the Trans-Pacific Partnership free trade deal on condition that the United States renegotiate it to secure better terms, Treasury Secretary Steven Mnuchin said Thursday. Read more 

    (US) House passes GSP renewal legislation

    American Shipper: The U.S. House of Representatives passed H.R. 4979 Tuesday under an expedited floor procedure, which would renew the Generalized System of Preferences program through 2020. Read more 

    ‘Big boys’ causing delays in conclusion of RCEP

    Business Mirror: The Philippines is demanding its fellow negotiating-countries in the Regional Comprehensive Economic Partnership (RCEP) to seriously commit to a speedy conclusion of their trade deal, as the latest round of talks still failed to progress beyond trade in goods modalities. Read more 

    Next Nafta Talks Scheduled to Start With Auto Content Rules

    Bloomberg: Rules for automotive content, one of the most contentious issues in Nafta, will be among the first tackled at the upcoming seventh round of talks in Mexico City. Read more

    Australia says yes to post-Brexit free trade agreement with the UK

    BBC: Australia say they would like to be able to negotiate a free trade agreement with the UK after Brexit. Read more 

    Trade growth to sustain momentum in first quarter of 2018, latest trade indicator suggests

    WTO: The WTO’s latest World Trade Outlook Indicator (WTOI), released on 12 February, suggests that the trade recovery of 2017 should continue, with solid trade volume growth in the first quarter of 2018. Read more

    BONUS

    CTO State of the Industry Outlook

    The Caribbean Tourism Organisation(CTO) held its State of the Industry 2017 and Outlook for 2018 last week. Please feel free to check out the report and other content here.

    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 – February 4-10, 2018

    Caribbean Trade & Development Digest – February 4-10, 2018

    Welcome to the Caribbean Trade and Development Digest for the week of February 4-10, 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

    CDB reports Regional development gains in 2017 despite catastrophic Atlantic Hurricane Season

    CDB: Despite major setbacks caused by a destructive 2017 Atlantic Hurricane Season, the Caribbean Development Bank (CDB) is reporting a year of several developmental gains for the Region. Read more 

    Positive economic growth expected for Caribbean Region in 2018, but resilience-building measures needed

    CDB: The Caribbean Development Bank (CDB) is projecting regional economic growth of 2% in 2018. This follows a return to positive figures last year, during which the Region experienced overall growth of 0.6%–despite the devastation caused by the Atlantic Hurricane Season. Read more 

    Barbados ratifies Trade Facilitation Agreement

    BGIS: Barbados has ratified the World Trade Organization’s (WTO) on Trade Facilitation Agreement (TFA). Read more 

    Jamaica Prime Minister Tables Report on CARICOM

    JIS: Prime Minister, the Most Hon. Andrew Holness, tabled a copy of the Report of the Commission to Review Jamaica’s Relations within the CARICOM and CARIFORUM Frameworks in the House of Representatives,  yesterday (February 6). Read more

    CDB President announces up to US$800M for disaster recovery, amid strong Bank performance in 2017

    CARICOM: President of the Caribbean Development Bank (CDB), Dr. Wm. Warren Smith, today announced that the institution is making USD700 to 800 million (mn) available to help Borrowing Member Countries (BMCs) recover from the impact of the 2017 Atlantic Hurricane Season. Read more 

    INTERNATIONAL

    Brazil Circulates Proposal for WTO Investment Facilitation Deal

    ICTSD Bridges: Brazil submitted an extensive draft proposal for a potential agreement on investment facilitation to the WTO’s General Council last week, in a bid to jumpstart more “structured discussions” on the subject. Read more 

    EU-Chile trade talks: Commission releases its proposals and reports about progress

    EU: The Commission also published a report of the second round of talks that took place in Santiago (Chile) from 15 to 19 January 2018. These were the first substantive discussions on trade following the launch of talks in November last year. Read more 

    Commission imposes definitive anti-dumping duties on Chinese corrosion resistant steel

    EU: The investigation confirmed that Chinese producers were dumping the product on the EU market, a finding that already led to imposition of provisional duties in August 2017. The measures that will be in place for the next 5 years range from 17.2% to 27.9%. Read more 

    African Leaders Prep for Summit on Continental Trade Deal

    ICTSD Bridges: African national leaders concluded the 30th Ordinary Session of the Assembly of the African Union last week, with the summit adopting a series of decisions on issues related to continental economic integration – including on the next steps for the Continental Free Trade Area (CFTA), as well as the free movement of people and air travel. Read more 

    No blanket EU trade ban, says Mustapa

    The Star: As Malaysia is an open economy, the government cannot impose a blanket ban on trade with the European Union (EU), but it can collaborate with government-linked companies to determine where to buy and sell goods amid the economic bloc’s threat to palm oil, said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.
    Read more 

    Mozambique joins the Economic Partnership Agreement between the EU and Southern African States

    EU: Mozambique was the last piece of the SADC-EPA jigsaw to fall into place. The other five countries – Botswana, Lesotho, Namibia, South-Africa, and Swaziland – have been implementing the agreement since October 2016.  Read more

    Ministers admit almost 65 existing trade deals with non-EU countries are ‘at risk because of Brexit

    The Independent: Ministers have admitted for the first time that about 65 existing trade deals with non-EU countries are at risk because of Brexit, it has been claimed. Read more 

    This doesn’t help the little guy! Trader reveals why Germans are furious at EU trade deal

    The Express: The European Union has not learned lessons from its trade deal with Canada and the public will slowly start to resent Brussels bureaucrats and turn against the bloc, an expert has warned. Read more 

    How can East Asia defend the WTO?

    East Asia Forum: A confident, rules-based environment for international trade has made possible the remarkable improvements in East Asian living standards over the past 50 years. This environment — created by the General Agreement on Tariffs and Trade (GATT) and its successor in the World Trade Organization (WTO) — remains essential for the future. But its survival cannot be taken for granted. Read more 

    BiH near membership in the WTO

    IBNA: Bosnia and Herzegovina can reach full membership in the World Trade Organisation till summer this year, and is on the right path to finish negotiations. Read more 

    Bosnia and Herzegovina’s WTO accession negotiations advance towards conclusion

    WTO: At the 13th meeting of the Working Party on the Accession of Bosnia and Herzegovina held on 7 February, WTO members supported the swift conclusion of the negotiations and welcomed the strong commitment and desire by Sarajevo to finalize this process in the coming months. Read more 

    US blocks India’s request for WTO compliance panel on solar dispute

    Hindu Business Line: Moving on expected lines, the US, on Friday, blocked India’s first-time request for the establishment of a panel to settle a dispute on whether the country complied with a World Trade Organisation (WTO) ruling against domestic sourcing of solar cells and modules mandated in its national solar power generation programme. Read more 

    FM: Belarus has no plans to slow down WTO accession talks

    BELTA: In 2017 Belarus considerably intensified the talks on joining the World Trade Organization (WTO) and is intended to keep the pace, Belarus’ Minister of Foreign Affairs Vladimir Makei said in an interview to the Russian newspaper Izvestia, BelTA has learned. Read more 

    Italy eyes stronger ties with ASEAN countries

    Indian Express: “Italy wants to strengthen relations with ASEAN and will organise the 2nd High Level Dialogue ASEAN-Italy Economic Relations in Singapore in April,” said Foreign Minister Angelino Alfano. 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 and Development Digest – January 1-6, 2018

    Caribbean Trade and Development Digest – January 1-6, 2018

    Happy New Year! Welcome to the Caribbean Trade and Development Digest for the week of January 1-6, 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

    Cuba’s Raul Castro Meets Top EU Diplomat to tighten relations

    TeleSur: Cuban President Raul Castro met with the European Union’s top diplomat, Federica Mogherini, at the end of her two-day visit to the country, seeking to construct and reinforce ties between EU member countries and Cuba. Read more

    Exxon Mobil reports Oil Discovery off Guyana

    Fox Business: Exxon Mobil Corp. (XOM) on Friday said it made another positive oil discovery off the coast of Guyana.  Read more

    2017 gold declarations below target

    Stabroek News: The Guyana Gold Board has recorded total gold declarations of 652,000 ounces for 2017, which is below the target of 720,000 ounces. Read more

    Hurricane-hit Caribbean countries slash cost of Citizenship by Investment programs, says report

    Nation News: Caribbean nations ravaged by recent hurricanes are selling citizenship at dramatically discounted prices in an effort to raise emergency funds, sparking concerns that the programmes may be vulnerable to abuse, according to reports here. Read more

    Arrivals of US tourists to Cuba tripled in 2017

    Caribbean News Digital: U.S. tourism to Cuba grew nearly threefold in 2017 over the previous year, mainly due to relaxation of travel ban, a Cuban official said Saturday. Read more

    CARICOM moving to create first climate-resilient region

    Jamaica Observer: Incoming chairman of the Caribbean Community (Caricom), Haiti’s President Jovenel Moïse, says the regional grouping is moving towards creating the world’s first climate-resilient region this year. Read more

    INTERNATIONAL

    Will intra-African trade flourish in 2018?

    The Herald: Overcoming the barriers for intra-African trade to double in a decade can feel like a Sisyphean task – impossible to complete. But that is the objective of the Boosting Intra-African Trade (BIAT) action plan, which targets to double flows between January 2012 and January 2022. Read more

    Rwanda: AU Summit to discuss Continental Free Trade Area

    AllAfrica: The upcoming 30th Ordinary Session of the African Union (AU) Assembly of Heads of State and Government is expected to receive a progress report on the status of negotiations of the African Continental Free Trade Area (CFTA), an official has told Sunday Times. Read more

    US Trade deficit hits $50.5 billion, biggest since 2012

    ABCNews: The U.S. trade deficit rose to $50.5 billion in November, the largest imbalance in nearly six years, as imports and exports both hit records. Read more

    Canada’s NAFTA charm offensive kicks into high gear

    CBCNews: The new year begins with Canada relying on an old strategy for saving the North American Free Trade Agreement. Read more

    UK seek free trade agreement covering goods and services in Phase Two

    RTE: British Prime Minister Theresa May has said the UK will be looking for a free trade agreement with the EU that will cover goods and services in Phase Two of the Brexit negotiations this year. Read more

    Tariffs to be slashed as China-Chile free trade agreement kicks in

    China.org.cn: Nearly 98 percent of products traded between China and Chile will have zero tariffs attached when the new China-Chile free trade agreement is implemented in 2018, according to the Guangdong Entry-Exit Inspection and Quarantine Bureau, reports Chinanews.com. Read more

    Will 2018 be the year of protectionism? Trump alone will decide

    New York Times: The Trump administration will soon face several major trade decisions that will determine whether the White House adopts the type of protectionist barriers that President Trump campaigned on but that were largely absent during his first year in office. Read more

    Will global trade survive 2018?

    Foreign Policy (Blog): The future of the global trade system faces more risk and uncertainty than at any time since it was created after World War II. Read more

    Macron pursues ambitious agenda on first official China visit

    RFI: French president, Emmanuel Macron’s heads to China Sunday hoping to forge closer ties with President Xi Jinping. During the three-day trip which begins Monday, Macron plans to seek a “strategic partnership” with Beijing, notably on terrorism and climate change, an official in the president’s office said. Read more

    Why Britain should be allowed to join the TPP

    The Strait Times: Analysis by James Crabtree Read more

    US-Korea trade talks pit pickup trucks against nuclear threat

    Reuters: The United States and South Korea on Friday completed the first round of review talks on a bilateral trade deal with Washington saying there was “much work to do” to reach a new pact.  Read more

    Will there be a Pacific trade war in 2018?

    Nikkei Asian Review: Analysis by Glen Fukushima Read more

    New Chinese consul general talks tough on trade

    Business in Vancouver: China is eager to conclude a free-trade agreement with Canada, but not at the expense of a set of “baseline” political principles seen as untouchable by Beijing, said the new top Chinese diplomat in the Western Canada region. Read more

    How Nepal’s trade costs could be minimised

    The Himalayan Times: A recent report jointly prepared by the Asian Development Bank (ADB) and United Nations Economic and Social Commission for Asia and Pacific (UNESCAP) titled ‘Trade and Transport Facilitation Monitoring Mechanism (TTFMM) in Nepal’ has suggested the government to set up the TTFMM institutional mechanism to monitor processes in certification, customs, transit and cargo transportation to bring down the cost of trade. Read more

    Brexit: UK Government considers joining TPP trade agreement to help bolster economy after leaving EU

    The Independent: Britain is exploring the possibility of joining a trans-Pacific trade bloc after Brexit in a bid to find alternative markets for exports that currently go to Europe, it has emerged. Read more

    Brexit: May urged to stay in the single market by 20 British MEPs

    The Guardian: Theresa May is being urged to change course and seek full membership of the European single market and customs union by 20 British MEPs, including three Tories and the majority of Labour politicians based in Brussels. Read more

    Pressure grows for UK to bring ban on ivory trade

    The Guardian: Consultation by the government shows huge public support for ending all sales. Read more

    More than 2,300 EU academics resign amid warning over UK university ‘Brexodus’

    The Independent: New figures show a 19 per cent increase in departures of European staff from universities last year compared to before the EU referendum, and a 10 per cent rise from some 2130 resignations in 2015-16. 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 and Development Digest – October 22-28, 2017

    Caribbean Trade and Development Digest – October 22-28, 2017

    Welcome to the Caribbean Trade and Development Digest for the week of October 22-28, 2017! 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

    Rowley talks trade with Mexico at CARICOM Summit

    Trinidad Express: According to a statement from the Office of the Prime Minister, Rowley has asked Mexican President Enrique Pena Nieto to immediately consider the development and implementation of a partial scope trade agreement which will allow Trinidad and Tobago manufactured goods access to the Mexican market. Read more

    Get cracking: EU wants region to get to work on CSME; EPA

    Barbados Today: Barbados and its Caribbean Community (CARICOM) neighbours have been told to get cracking on the Caribbean Community (CARICOM) Single Market and Economy (CSME) and the Economic Partnership Agreement (EPA) with Europe. Read more

    South Africa set to boost trade with Cuba

    allAfrica: The upcoming Havana International Fair will further advance relations between South Africa and Cuba, says Trade and Industry Deputy Minister Bulelani Mangwanishe. Read more

    Haiti-DR. Towards a border resident card to facilitate trade?

    Haiti Libre: Director of the National Institute of Migration (INM) of the Dominican Republic encourages the Directorate General of Migration (DGM) to create a border resident card, which would facilitate the movement of people who depend on binational trade in areas border with Haiti. Read more

    India eyes trade deals with Central American, Caribbean Countries

    Times of India: India is looking to expand its trade footprint in America with initial discussions initiated in the government for a possible free trade agreement (FTA) with Caribbean and Central American countries and a logistics hub in Panama to help shipment of goods. Read more

    China, Cuba sign agreements to expand economic, trade ties

    China Daily: China and Cuba on Wednesday signed five cooperation and legal agreements, which reaffirm the willingness of both nations to strengthen and expand their economic and trade relations. Read more

    Mexican President and CARICOM meet in Belize

    Amandala: Oct. 26, 2017–Belize hosted a historic meeting between heads of government of CARICOM and the president of Mexico, Enrique Peña Nieto at the Best Western Belize Biltmore Plaza on Wednesday, October 25, 2017. Read more

    Mexico gives USD$14 million to CCRIF

    The Reporter: The Government of Mexico will contribute $14 Million to the CARICOM Catastrophe Risk Insurance Fund (CCRIF), Mexico’s President, Enrique Peña Nieto confirmed at the IV CARICOM-Mexico Summit. Read more

    CARICOM should seek to deepen ties with BRICS

    Stabroek: An opinion piece by a staff writer at Stabroek. Read more

    Barbados and Italy Double Taxation Agreement enters into force

    Nation News: The Double Taxation Agreement (DTA) between the Government of Barbados and the Italian Republic has entered into force in accordance with Article 30 of the Agreement. Read more

    INTERNATIONAL

    UK, EU send proposal to rest of WTO

    Reuters: Britain and the European Commission formally told other members of the World Trade Organization on Wednesday how they plan to split up the European Union’s WTO-agreed tariff quotas and farm subsidies after Brexit. Read more

    Turkey, Pakistan finalise free trade agreement talks

    Xinhua: Turkey and Pakistan have finalized negotiations on free trade agreement (FTA), and wished to sign the deal as soon as possible, Turkish Customs and Trade Minister Bulent Tufenkci said on Friday. Read more

    NAFTA Uncertainty already hurting growth, Bank of Canada says

    Bloomberg: Uncertainty about U.S. trade policy will reduce investment growth by 0.7 percentage points and export growth by 0.2 percentage points in both 2017 and 2018, according to projections in the Bank of Canada’s quarterly Monetary Policy Report, released Tuesday in Ottawa. Read more

    Infrastructure deficit remains major challenge to intra-Africa trade: ECA

    Xinhua: The Economic Commission for Africa (ECA) has reiterated that infrastructure deficit in Africa remains a major challenge to trade facilitation, intra-regional trade as well as economic development and transformation on the continent. Read more

    Trudeau dismisses concerns free trade with China will hurt Canada-US relationship

    CBC: Prime Minister Justin Trudeau said strengthening trade ties with China does not put the Canada-U.S. relationship at risk, shrugging off concerns raised Thursday by a member of his NAFTA advisory council. Read more

    PM Lee urges the US to uphold free trade and sustain economic ties with Asia

    Today Online: The United States’ relations with Asia has not “been turned upside down” despite the different approach taken by the Trump administration on some issues, said Prime Minister Lee Hsien Loong in urging Washington to uphold free trade and sustain economic engagement with the region. Read more

    RCEP deal unlikely this year, says South Korea official

    Nikkei Asian Review: An agreement to create a free trade zone among 16 countries in the Asia-Pacific region, including China, Japan, India and South Korea, is not expected before the end of the year, said a South Korean representative in charge of the negotiations on Friday. Read more

    WTO issues compliance panel reports on revised US “dolphin-safe” tuna labelling measure

    WTO: On 26 October the WTO issued the panel reports in the cases brought by the United States and Mexico in “United States – Measures Concerning the Importation, Marketing and Sale of Tuna and Tuna Products – Recourse to Article 21.5 of the DSU by the United States” and “United States – Measures Concerning the Importation, Marketing and Sale of Tuna and Tuna Products – Second Recourse to Article 21.5 of the DSU by Mexico” (DS381). Read more

    Canada in bid to limit Brazil aircraft subsidy probe at WTO

    Reuters: Canada has urged the World Trade Organisation to block attempts by Brazil to trigger a detailed investigation of its aerospace industry to buttress its case that subsidies to Bombardier caused “serious prejudice” to Brazil’s Embraer. Read more

    Move to introduce ‘gender inclusivity’ in the WTO

    The Hindu Business Line: Waking up to the need to enable more women to participate in international trade, the World Trade Organisation (WTO) and a group of member countries are making efforts to get a joint declaration on gender and trade to be adopted at the Buenos Aires Ministerial meet in December. Read more

    Colombia looks to expand free trade deals with Pacific region countries

    The City Paper (Bogota): Colombia wants its share of the Asia Pacific trade pie as it joins the three other member nations of the Pacific Alliance (Chile, Peru and Mexico) in free trade talks with Australia, New Zealand and Singapore. Read more

    Germany, UK will gain the most from an India-EU free trade deal

    The Hindu Business Line: Germany and the UK will witness the highest absolute gains if the proposed Free Trade Agreement (FTA) between India and the European Union (EU) is concluded, states a study conducted by the Bertelsmann Stiftung of Germany. Read more

    Former WTO boss warns Brexit trade agreement could take seven years

    The Express: A FORMER World Trade Organisation (WTO) Director-General warned that Britain’s worst option post-Brexit would be to trade under WTO rules, amid claims that Britain is preparing for Brexit talks to fail. Read more

    ‘Decision on fishing subsidies certain in WTO’s Dec meet’

    The Hindu: An agreement on elimination of ‘harmful’ fisheries subsidies is likely to be the only major outcome at the forthcoming meeting of the World Trade Organisation’s (WTO) highest decision-making body called the ‘Ministerial Conference’. Read more

    European Parliament votes for trade deal with New Zealand

    Radio New Zealand: The European Parliament has voted to press ahead with plans to do a trade deal with New Zealand. 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.