Caribbean Trade Law and Development

Category: trade digest

  • Caribbean Trade and Development Digest – January 15-21, 2017

    Caribbean Trade and Development Digest – January 15-21, 2017

    Source: Pixabay

    Welcome to the Caribbean Trade and Development Digest for the week of January 15-21, 2017 where we share some of the major trade and development headlines from across the Caribbean and the world.

    And what a week it was! UK Prime Minister May has finally announced her Brexit plan and the UK Supreme Court announced it will deliver its ruling in the Article 50 Brexit Appeal this coming Tuesday. Globalisation took centre-stage at the Annual World Economic Forum meeting in Davos, while  top of mind was the inauguration of US President Donald Trump who was sworn in as the US’ 45th president, and that’s just the tip of iceberg!

    Below we present the major headlines. For past issues of our weekly Caribbean Trade & Development Digest, please visit here.

    To receive these mailings directly to your inbox, please follow our blog.

    REGIONAL HEADLINES

    CARICOM optimistic of Trump’s vision

    Trinidad Guardian: Caribbean states are hoping America’s new Donald Trump administration – taking over from today – will continue trade and security arrangements as well as other structures which have traditionally been in force between Caricom and the US. Read more 

    Dominican Republic applies definite AD on Chinese rebar 

    Steel Orbis: Dominican Republic’s Commission for Trade Defense announced it has applied a definite anti-dumping ad valorem duty on Chinese rebar. Read more

    Commerce nominee Ross; No position on Cuban embargo

    Washington Examiner: Wilbur Ross, the banker-turned-investor and President-elect Donald Trump’s pick to head the Commerce Department, told a Senate hearing Wednesday that he has no position yet on handling trade with Cuba. Read more 

    Call for CARICOM agency to vet CIP applications

    Antigua Observer: The head of a well-known citizenship advisory firm is making a call for Caribbean Citizenship by Investment Programmes (CIPs) to vet applicants through Caricom’s Joint Regional Communications Centre (JRCC). Read more 

    Airbnb and Curacao sign tourism agreement

    Curacao chronicle: Today, Curaçao’s Minister of Economic Development, Eugene Rhuggenaath and the Minister of Finance, Kenneth Gijsbertha, on behalf of the government, signed an important agreement with Airbnb that will help to promote Curaçao as world-class tourist destination. Read more 

    UWI Lecturer calls for better CARICOM trade under Trump

    Trinidad Guardian: A UWI lecturer is calling on T&T and other Caricom member states to establish a united proposal to improve and further develop trade and other relations with the United States under US President-elect Donald Trump, who takes office on Friday. Read more

    Trade and investment agreement signed between Curacao and the Dominican Republic

    Caribbean news now: An agreement was signed last Tuesday in the office of the consul of the Dominican Republic in Curacao; between ADECK; the Association of Small and Medium size business in Curacao and the Dutch Chamber of Commerce in the Dominican Republic.Read more

    Full, frank discussion needed on CSME says Barbados PM Stuart 

    Caricom Today: Prime Minister Freundel Stuart believes the time has come to have “full and frank discussions” on the CARICOM Single Market and Economy (CSME). Read more 

    UN adviser for new consortium to bolster Haiti’s long term recovery 

    Caricom Today: A senior United Nations adviser has called for a new “consortium” of donors to bolster Haiti’s long-term recovery. Read more

    Jamaica confident about reviving pork exports to CARICOM 

    Jamaica Gleaner: Jamaica’s meat companies are weighing a resumption of pork exports to Caribbean neighbours, but say it all depends on the reception from government agencies throughout the region and the harmonisation of standards. Read more 

    INTERNATIONAL

    Fiji Signs newest version of the MSG Free Trade Agreement

    Fiji Sun: FIji Prime Minister Voreqe Bainimarama has signed the Melanesian Spearhead Group Free Trade Agreement. Read more 

    Donald Trump is sworn in as president

    New York Times: Donald John Trump was inaugurated as the 45th president of the United States on Friday, ushering in a new era that he vowed would shatter the established order and reverse a national decline that he called “this American carnage.” Read more

    Ross prefers inking bilateral trade agreements

    The Hill: Commerce Secretary-designate Wilbur Ross echoed Donald Trump’s call for bilateral trade deals instead of larger agreements where he says the United States tends to lose out. Read more 

    WTO chief Warns against stumbling into trade wars

    Irish Times: The world should be wary of stumbling into trade wars that would destroy jobs, World Trade Organisation director general Roberto Azevedo said on Friday. Read more

    Chinese President Xi Jinping: No one can win a trade war

    CNN Money: “Many of the problems troubling the world are not caused by economic globalization,” Xi said Tuesday at the World Economic Forum in Davos. “Whether you like it or not, the global economy is the big ocean you cannot escape from.” Read more

    New Zealand and Sri Lanka to consider Free Trade Agreement

    Reuters: New Zealand and Sri Lanka will open diplomatic posts in each other’s nations and are considering a free trade agreement, the Pacific country’s trade minister said on Friday. Read more 

    Indian Cabinet approves Trade Agreement negotiations with Peru

    Economic Times (India): The Indian Cabinet has approved holding negotiations for a trade agreement with Peru. Read more 

    EU and US publish TTIP state of play assessment

    EU: On 18 January Trade Commissioner Cecilia Malmstrom and United States Trade Representative Michael Froman published a joint assessment of the progress made in negotiations for a Transatlantic Trade and Investment Partnership (TTIP) since negotiations started in July 2013. Read more 

    US Chamber of Commerce warns Trump on Trade

    CNBC: Washington needs to trade with foreign markets if it wants to boost domestic growth, the U.S. Chamber of Commerce warned on Monday. Read more 

    PM May Defines “Brexit means Brexit”

    FRANHENDY: Today, in an address which lasted just over forty minutes, former ‘Remainer’, Prime Minister Theresa May,added some content and context to her well-worn maxim: brexit means brexit. Read more 

    China’s Xi warns of Dangers of Trade War

    VOA: Chinese President Xi Jinping warned governments of the dangers of a trade war while speaking at the World Economic Forum in Davos, Switzerland on Tuesday. Read more 

    Ottawa Weeks away from starting free-trade talks with China

    The Globe & Mail: The Trudeau government is weeks away from an inaugural round of talks on a free-trade agreement with China as it presses ahead a central objective in its plan to deepen ties with the world’s second-largest economy. Read more 

    Azevedo welcomes call in Davos for progress at the WTO; urges caution on protectionism

    WTO News: Attending the World Economic Forum in Davos, WTO Director-General Roberto Azevêdo welcomed the strong desire shown by ministers and the private sector for new negotiated outcomes to be delivered at the WTO’s Ministerial Conference in Buenos Aires in December this year. Read more 

    Nigeria ratifies the Trade Facilitation Agreement 

    WTO News: Nigeria has ratified the Trade Facilitation Agreement (TFA), making it the 107th WTO member to do so. Only three more ratifications from members are needed to bring the TFA into force. Read more 

    United States files WTO complaint against Canada over measures affecting the sale of wine in stores 

    WTO News: On 18 January the United States notified the WTO Secretariat that it requested WTO dispute consultations with Canada regarding measures maintained by the Canadian province of British Columbia governing the sale of wine.Read more 

    Free trade talks already under way with range of non-EU countries 

    Sky News: Article 50 has yet to be signed but already Theresa May has laid out her negotiating lines and has said that informal talks are already taking place about Britain’s future trade relations with the rest of the world. Read more 

    France’s Hollande criticises protectionism as “worst response”

    Reuters: France’s President Francois Hollande on Saturday criticized protectionism and with his Chilean counterpart said that Europe would look to strengthen ties with Latin America, speaking a day after U.S. President Donald Trump took office. Read more

    RCEP more relevant now more than ever

    New Strait Times:When American President-elect Donald Trump called the Trans-Pacific Partnership (TPP) agreement a “disaster” and vowed to pull out of it as soon as he took office, the international media almost instantaneously pronounced the TPP dead. Read more 

    Malaysia’s move if TPPA falls through

    The Star: Should the Trans-Pacific Partnership Agree­ment (TPPA) fall through, Malaysia may look into the possibility of pursuing bilateral free trade agreements (FTAs) with TPP members, said International Trade and Indus­try Minister Datuk Seri Mustapa Mohamed. Read more 

    Djibouti-Ethiopia railway carries hope for Pan-African trade

    Financial Times: Great article by FT discussing the prospects that the Djibouti Ethiopia railway will have for Pan-African trade. Read more 

    Britain must relax immigration rules for Australians if it wants a free trade deal, says High Commissioner to UK

    Independent: Australia will seek ‘greater access’ for its businesspeople before reaching a post-Brexit trade agreement with the UK, says Alexander Downer. Read more

    Free trade agreement with India a “high priority” for Canada

    The Star: Federal Liberal Infrastructure Minister Amarjeet Sohi, fresh off a trade promotion trip to India, says a free-trade agreement with India “is high priority for our government.” Read more 

    Wallonia parliament holds third hearing on EU-Vietnam free trade agreement

    Vietnam Net: The parliament of Belgium’s Wallonia region held the third hearing on the European Union-Vietnam Free Trade Agreement (EVFTA) on January 19.  Read more 

     

     

    BONUS

    Time to solve intra-Africa trade challenges

    The New Times (Rwanda): In a CNBC televised debate in Davos, Switzerland, President of Rwanda, Paul Kagame has challenged African countries to solve intra-Africa trade challenges. Read the article here and WATCH VIDEO

    NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT

    5 Main Points from PM May’s Davos Speech

    TTIP: Joint US-EU State of Play Report Published

    UK Supreme Court to deliver ruling in Article 50 Brexit Appeal next Tuesday

    Why PM May’s “Hard Brexit” Choice is no surprise

    President Obama Ends Three Special Parole Programs for Cuban Migrants

    Liked this issue? 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 8-14, 2017

    Caribbean Trade & Development Digest – January 8-14, 2017

    Source: Pixabay

    Welcome to the first Caribbean Trade and Development Digest for 2017!  I am pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World for the weeks of January 8-14, 2017. 

    For past issues of our weekly Caribbean Trade & Development Digest, please visit here.

    To receive these mailings directly to your inbox, please follow our blog.

    REGIONAL

    Brexit looms; Trade Pact now, says Dominican Envoy

    Dominican Today: Dominican Republic’s ambassador to the UK on Thursday said negotiations toward a bilateral agreement should be expedited so the country can deal with Brexit’s negative consequences. Read more

    Obama ends ‘Wet foot, dry foot’ policy for Cubans

    Wisconsin Rapids Tribune: President Obama announced Thursday an end to the 20-year-old “wet foot, dry foot” policy that allowed most Cuban migrants who reach U.S. soil to stay and become legal permanent residents after one year. Read more 

    Cuba’s President Raul Castro meets with head of US Chamber of Commerce

    Reuters: The head of the U.S. Chamber of Commerce met with Cuban President Raul Castro and in separate meetings with members of Castro’s economic cabinet on Friday, as they prepare for the advent of a more hostile Trump administration next week. Read more 

    Serbia formalises diplomatic relations with CARICOM

    Jamaica Observer: The Caribbean Community (Caricom) grouping has formalised diplomatic relations with the Republic of Serbia, with the eastern European country indicating that it intends to promote cooperation with a region where it has already been active in the past. Read more

    64 percent reduction in Jamaicans being denied entry to Trinidad

    The Minister of Foreign Affairs and Foreign Trade is reporting a 64 per cent reduction in the number of Jamaicans who have been denied entry to Trinidad and Tobago for the period March to December 2016. Read more

    Persons being sensitised about travel in CSME States

    Jamaica Information Service: The Ministry of Foreign Affairs and Foreign Trade has started a public-education campaign to sensitise the public on travel and employment guidelines within CARICOM countries. Read more

    CARICOM, UN Women Ink support pact for gender equality

    Stabroek: A two-year Memorandum of Understanding (MoU) outlining areas of support to drive the achievement of gender equality goals was signed yesterday by the Caricom Secretariat and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women). Read more

    Crucial Year for CARICOM process, says Secretary-General

    Caribbean News Now: The thirty-ninth meeting of the Community Council of Ministers opened on Monday at the CARICOM headquarters in Guyana, under the chairmanship of Guyana’s vice president and minister for foreign affairs, Carl Greenidge. Read more

    Japan looking at Barbados Hub

    Barbados Advocate: Japan is considering this island as a hub for its tourists who want to experience what this region has to offer. This from Japan’s Ambassador Extraordinary and Plenipotentiary to Barbados, Teruhiko Shinada, during a courtesy call to The Barbados Advocate yesterday. Read more

    Jamaica’s relationship with Trinidad & Tobago improving

    Jamaica Observer: Minister of Foreign Affairs and Foreign Trade Senator Kamina Johnson Smith says that, since the intervention of the Government, there has been a 64 per cent decrease in the number of Jamaicans refused entry into Trinidad and Tobago. Read more

    CARICOM seeks to strengthen ties with the US

    Antigua Observer: The Heads of Government within the Caricom member states will most likely be acting on a recommendation from the Council of Ministers to push to strengthen ties with the United States (US). Read more

    CARICOM wants good working relationship with the Trump Administration

    Jamaica Observer: The Caribbean Community (Caricom) Council of Ministers has ended a two-day meeting here Tuesday saying it was appreciative of the Caribbean’s good working relationship with past US administrations and was looking forward to working with the Donald Trump administration.Read more

    INTERNATIONAL

    US files WTO complaint against Chinese aluminum subsidies

    WTO News: On 12 January the United States notified the WTO Secretariat that it requested dispute consultations with China regarding alleged subsidies provided by China to its producers of primary aluminium. Read more

    World Bank: 2.7 percent growth in trade in 2017

    Global Trade Magazine: Global economic growth is forecast to accelerate moderately to 2.7 percent in 2017 after a post-crisis low last year, the World Bank said in a report released today. Read more

    President Obama’s Final Economic Report is Released

    Whitehouse: The 2017 Economic Report of the President reviews the economic record of the Obama Administration, focusing on how policies have promoted inclusive growth. Read more 

    Global Economy looks to Asia

    East Asia Forum: Japan, China and the rest of East Asia enjoyed rapid development and rising living standards by opening up their economies and becoming integral parts of the global trade and economic system.Read more

    Products under APTA increased

    The Nation: Ministers from countries party to the Asia-Pacific Trade AGreement (APTA) met during the Fourth APTA Ministerial Council to conclude negotiations that will more than double the number of products under preferential tariff treatment in order to expand trade and boost growth in the region Read more 

    John Kerry defends TPP in last trip as Secretary of State

    Global News (Canada): Secretary John Kerry making his last trip as the top U.S. diplomat, on Friday defended the 12-nation trade pact that the incoming administration said it would scrap and urged countries to refrain from provocative acts in the South China Sea. Read more

    Trans-Pacific Partnership not dead yet, says Australia 

    Financial Review: The Australian government refuses to concede the Trans-Pacific Partnership is dead and says the United States needs more time to come to a final position on the 12-nation free-trade pact. Read more 

    UK Exports show sign of pound boost

    BBC: Evidence is emerging that the sharp drop in the pound is boosting UK exports, economists say. Read more 

    Obama lifts 20-year sanctions on Sudan

    Deutsche Welle: US President Barack Obama is to lift some trade and investments sanctions against Africa’s third largest country. But the country will still remain a state sponsor of terrorism in Washington’s eyes. Read more

    Trump Advisor: TPP dead, will move quickly on bilateral trade deals

    Reuters: President-elect Donald Trump will not revive his predecessor’s stalled Trans-Pacific Partnership trade deal in any form, but will quickly pursue bilateral trade agreements, a Trump transition policy adviser said. Read more 

    Nick Clegg says May should go for Norway-style Agreement with EU

    The Guardian: Theresa May should return the UK to the same 1960s trading arrangements it had with Europe before it joined the EU if she decides there is no alternative to a hard Brexit, according to former deputy prime minister Nick Clegg. Read more 

    The Netherlands will block and UK-EU deal without tax avoidance measures

    The Guardian: The Netherlands will block any EU trade deal with the UK unless it signs up to tough tax avoidance regulations preventing it from becoming an attractive offshore haven for multinationals and the rich, the deputy prime minister of the country has said. Read more

    FACT SHEET: The Obama Administration’s Trade Enforcement Record

    WhiteHouse: From day one, President Obama and his Administration have vigorously worked to build a far more capable trade enforcement system.  The result has been a strong record of enforcement victories that are helping to level the playing field for American workers and businesses. Read more 

    Have we hit ‘peak’ trade?

    World Economic Forum: Over the past five years, global trade growth has been stagnant. With protectionist sentiment intensifying across advanced economies and China and other emerging markets (EMs) appearing to pivot away from export-oriented growth strategies that had incentivised the creation of global supply chains in the 2000s, a hypothesis informally known as ‘peak trade’ has become increasingly popular (Economist 2014). Read more 

    China exports slump more than expected

    CNBC: China’s exports slumped more than expected in December as global trade remained sluggish while the growth in imports also cooled, official data showed Friday. Read more

    NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT

    St Vincent and the Grenadines ratifies the Trade Facilitation Agreement

    In Defence of Caribbean Citizenship by Investment Programmes

    Liked this issue? 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 – November 20-December 3, 2016

    Caribbean Trade & Development Digest – November 20-December 3, 2016

    Photo source: Pixabay

    Caribbean Trade Law & Development is pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World for the weeks of November 20-December 3, 2016. 

    For past issues of our weekly Caribbean Trade & Development Digest, please visit here.

    To receive these mailings directly to your inbox, please follow our blog.

    REGIONAL

    Belize Senate criticises Belize-Guyana Trade Pact

    7 News Belize: One of the motions which we didn’t get a chance to tell you about, was a resolution tabled by the Government. It authorizes the Barrow Administration to ratify a Framework agreement between the Governments of Belize and Guyana for bilateral cooperation.Read more

    IDB Loan will support economic developent and foreign trade in Guyana

    Caribbean News Now: Guyana will improve its public infrastructure and promote economic diversification and foreign trade with a US$9 million Inter-American Development Bank (IDB) loan that will help strengthen the economy and stimulate exports and investments. Read more

    Guyana seeking to register Demarara as Geographical Indication

    Stabroek: The Commercial Registry here has received applications for Demerara Sugar, Demerara Molasses and Demerara Rum. Minister of Foreign Affairs Carl Greenidge said that recapturing the name provides opportunities for producers to obtain market recognition. Read more

    ExporTT Chairman: T&T must improve trade with EU

    Trinidad Guardian: Incoming chairman of ExporTT Ashmeer Mohammed said the agency is committed to improving trade with the European Union (EU) and arresting the current decline in trade between T&T and the EU. Read more

    Region’s exports fall five percent

    Trinidad Guardian: The Economic Commission for Latin America and the Caribbean’s (Eclac) annual report Latin America and the Caribbean in the World Economy 2016 shows that the foreign trade dynamics of the region are having their worst performance in eight decades. Read more

    Illicit Cigarette Trade Booming

    LoopJamaica: The illicit cigarette trade now accounts for a fifth of the local market, according to cigarette distributor Carreras Limited. Read more

    Entities partner to grow exports

    JIS: Four private- and public-sector bodies have signed a memorandum of understanding (MOU), agreeing to work together to grow national exports to US$2.5 billion by 2020. Read more

    Belize and Jamaica squash “beef” over patties

    Breaking Belize News: On November 17, Jamaica’s Minister of Industry, Karl Samuda successfully met with Minister of Trade and Commerce, Tracey Panton, in Guyana during the 43rd meeting of CARICOM’s Council for Trade and Development. Read more

    Jamaica, EU discuss moving EPA to full implementation

    Jamaica Observer: Minister of Foreign Affairs and Foreign Trade Kamina Johnson Smith, in highlighting the concerns of the Jamaica’s private sector about the challenges faced in accessing the European Union markets, said that Jamaica’s strength and advantages in its services sectors would be greatly unlocked if there was a special visa regime between CARIFORUM and European Union (EU) countries. Read more

    Kenya: President Roots for Increased Trade between Kenya, Latin America & the Caribbean

    allAfrica: President Uhuru Kenyatta has called for increased trade between Kenya, the Latin America and Caribbean regions.Read more

    INTERNATIONAL

    Maersk Line to Acquire Hamburg Süd

    Maersk Line: Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals. Read more

    OPEC Reaches Oil Output Reduction Agreement

    Global Trade Magazine: The thirteen members of the Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, reached an agreement yesterday to reduce oil output by 1.2 million barrels a day beginning next month. Read more

    China says its will promote trade deals regardless of TPP, RCEP Direction

    Reuters: China said it will actively participate in bilateral and multilateral trade deals, with the goal of deepening reform and opening up its economy, regardless of the direction the Trans Pacific Partnership (TPP) or the China-backed Regional Comprehensive Economic Partnership (RCEP) might take. Read more

    Singapore leads global trade ranking for the fifth time

    SBR:  Its domestic market is rated as world’s most open.Singapore topped the Global Enabling Trade Report 2016 once again.  Read more

    EU-Georgia Free Trade Deal Boosting Trade Flows

    Tax News: Trade flows between Georgia and the EU increased 16 percent in 2015, the first full year since the Deep and Comprehensive Free Trade Area (DCFTA) was provisionally applied.The EU-Georgia Association Agreement, which includes a DCFTA, was provisionally applied from September 2014. It fully entered into force on July 1, 2016. Read more

    Sanders to introduce US ‘Outsourcing Tax’ Legislation

    Tax News: US Senator Bernie Sanders has stated his intention to introduce legislation into Congress that would impose an “outsourcing tax” on companies moving jobs out of the United States, as well as stripping them of their US tax breaks and benefits. Read more

    China urges U.S. to abide by WTO anti-dumping agreement

    Reuters: China on Friday urged the United States to abandon a surrogate country approach it uses to calculate anti-dumping measures against Chinese exports, as a related clause in China’s World Trade Organization (WTO) deal is set to expire. Read more

    MEPs reject call for Court Review of CETA

    Tax News: The European Parliament has rejected a request by 89 Members of European Parliament to refer the EU-Canada Comprehensive Economic and Trade Agreement to the European Court of Justice for an opinion.  Read more

    China, New Zealand To Upgrade FTA

    Tax News: The launch of negotiations to upgrade the existing China-New Zealand free trade agreement (FTA) was announced on November 21, following a meeting between Chinese Commerce Minister Gao Hucheng and New Zealand’s Trade Minister Todd McClay at the Asia-Pacific Economic Cooperation Summit in Lima. Read more

    Next Round of RCEP Negotiations in Jakarta Dec 5

    Economic Times: The single-tier system of duty relaxation under the proposed mega trade deal RCEP will be the central issue to be discussed at the next round of negotiations of 16 countries, including India and China, in Jakarta from December 5. Read more

    WTO chief says no indication Trump wants to take US out of WTO

    Reuters: World Trade Organization chief Roberto Azevedo said on Thursday he had no indication that U.S. President-elect Donald Trump wanted to withdraw the United States from the global trading body. Read more

    NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT

    President-elect Trump’s trade team takes shape: What implications for the Caribbean?

    Happy Independence! Tribute to Barbados at 50

    Dominica Ratifies WTO Trade Facilitation Agreement

    WTO Panel Rules Tax Incentive to Boeing a Prohibited Subsidy

    Fidel Castro; Friend to the Caribbean & Anti-Imperialist Hero

    TPP: Trump to withdraw from the Agreement on Day One

    For past issues of our Caribbean & Trade Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.