Caribbean Trade Law and Development

Category: trade digest

  • Caribbean Trade and Development News Digest – July 4-10, 2021

    Caribbean Trade and Development News Digest – July 4-10, 2021

    Welcome to the Caribbean Trade and Development News Digest for the week of July 4-10, 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    The Caribbean Trade Law & Development Blog expresses our profound sadness to hear of the assassination of the President of Haiti, Jovenel Moise. We pray for the swift recovery of First Lady Madame Martine Moise who is currently hospitalised. We also express our solidarity with all who have been affected by Hurricane Elsa, which first made landfall in Barbados on Friday, July 2 and continued to affect other countries in the region and parts of the US. I personally wish to thank those readers who reached out to enquire about my well-being following reports of the passage of Hurricane Elsa last Friday and to confirm that I am doing well.

    Please see below some of the week’s highlights!

    THIS WEEK’S HIGHLIGHTS

    G20 finance ministers this week endorsed the proposal for a global minimum corporate income tax of at least 15%.

    The UK disputes the Brexit ‘divorce’ bill estimated by the EU. Read more here.

    The WTO appears to be on the ‘cusp’ of its first multilateral agreement since the Trade Facilitation Agreement. This week, July 15, ministers will meet virtually to advance negotiations on curbing harmful fisheries subsidies. Read more here.

    CARICOM Heads of Government held their 42nd Regular Meeting. Prime Minister of Antigua & Barbuda Gaston Browne assumed chairmanship of CARICOM as of July 1. The communique emanating from the meeting may be read here.

    On Thursday, July 2, I was a guest on the DeBrief TV Show interviewed by the host Kemar Stuart on the “G7 and the Global Minimum CIT”. The conversation also explored other current geopolitical and political economy issues germane to the Caribbean.

    REGIONAL NEWS

    “The EPA has failed us,” says Prime Minister

    Antigua News Room: Prime Minister of Antigua and Barbuda and Chairman of the Caribbean Community, (CARICOM) the Hon. Gaston Browne has spoken out against the constant targeting of the financial services sectors of the region by developed nations through blacklisting. Read more

    Straughn: Small States need policy space

    Nation News: If small states like Barbados are to achieve and meet the Sustainable Development Goals (SDGs), they need to be given the appropriate policy space to operate globally. Read more

    MSMEs to tap into grant funding

    Barbados Today: Micro, small and medium-sized enterprises in Barbados and the rest of the region have just over a week to apply for grants of up to US$15,000 to be used on various technical projects to enhance their operation. Read more

    Gopee-Scoon: $78m spent on luxury foods in three years

    Newsday: Trade and Industry Minister Paula Gopee-Scoon has said Trinidad and Tobago spent approximately $78 million a year over the last three years on the importation of luxury food items. She was responding to a question in the Senate on Tuesday. Read more

    Indian envoy aims for more trade with Trinidad and Tobago post-covid19

    Newsday: High Commissioner of India to Trinidad and Tobago Arun Kumar Sahu said since his appointment,, he has pushed for Indian businesses to do more trade with Caribbean countries, especially TT. Read more

    Minister wants more bilateral relationship between T&T, Dominican Republic

    Guardian: Trade Minister Paula Gopee-Scoon has expressed keen interest to further develop the bilateral relationship between T&T and the Dominican Republic in the areas of trade and economic relations. Read more

    TTMA calls for greater accountability in Free Trade Zones

    Trinidad Express: The Trinidad and Tobago Manufacturers Association (TTMA) Illicit Trade Desk is calling for greater accountability in Free Trade Zones to prevent illicit trade and money laundering. Read more

    Trinidad and Tobago moves to improve investor confidence

    Newsday: Applying rule of law is important in order to strengthen investor confidence and legitimate trade. And by the US Chamber of Commerce’s accounts, TT is making positive movements in that regard, advancing two points from a 2019 report, indicating an above-average performance within the hemisphere. Read more

    Trade Ministry publishing monthly reports

    Newsday: THE Ministry of Trade and Industry has started the publication of monthly reports on the operations of various border agencies as part of its trade facilitation agenda and to improve trade and customs border transparency. Read more

    US to mount trade mission to the Caribbean

    Jamaica Observer: The United States is planning a Caribbean Region Trade Mission and Business Conference for October, a senior US official has announced. Read more

    Bahamas government signs $12M economic and technical agreement with China

    EyeWitness: The government signed a $12 million economic and technical agreement with the People’s Republic of China during a signing ceremony held at the Ministry of Foreign Affairs on Wednesday, July 7, 2021. Read more

    INTERNATIONAL NEWS

    Investment Facilitation Negotiators Review Proposals, Share Views on Implementation

    IISD: World Trade Organization (WTO) members participating in the discussions on investment facilitation for development (IFD) heard back from the facilitators of discussion groups, and considered implementation, technical assistance, and capacity building in a dedicated session. Read more

    New study makes the case for more US free trade deals

    The Hill: Do free trade deals work? A new study by the International Trade Commission (ITC) says the ones the U.S. has signed have had a small, positive effect on the economy. Protectionists will insist that this means free trade deals do little. That’s wrong. Read more

    Fisheries Talks Chair Presents Revised Text Ahead of July Ministerial

    IISD: The Chair of the World Trade Organization (WTO) fisheries subsidies negotiations, Ambassador Santiago Wills of Colombia, introduced a revised draft text that he said aims to serve as the basis for the July 2021 ministerial-level meeting. Ministers are expected to negotiate a final agreement on 15 July. Read more

    USTR says WTO fisheries deal ‘within reach’ but improvements needed

    Reuters: A fisheries deal at the World Trade Organization is “within reach”, although improvements to the draft agreement are required in order to change the status quo, the U.S. Trade Representative’s Office said on Friday. Read more

    Liz Truss aims to tackle threats to free trade on five-day US visit

    Independent: The International Trade Secretary will meet Katherine Tai, the US trade representative, during her visit from Sunday to Thursday. Read more

    Trump is long gone, but trade

    Washington Post: President Biden routinely praises his Canadian counterpart in the warmest manner, as American chief executives — with one recent exception — have done for decades. And U.S. officials go out of their way to stress the shared vision that unites the two trading partners. Read more

    Canadian exporter confidence rebounds to 20-year high – EDC index

    Reuters: Confidence among Canadian exporters has surged to its highest level in more than 20 years, amid mounting optimism that a sustained global economic recovery is underway, a survey by Export Development Canada (EDC) showed on Thursday. Read more

    Shipping Turmoil Threatens Coffee From World’s Biggest Grower Brazil

    Bloomberg: Getting food where it needs to be around the world is never easy, and it’s been made all the harder this year with the twin forces of pandemic disruptions and climate change. Read more

    UK housing boom may derail post-Brexit trade dreams

    Reuters: History suggests Britain’s house price surge could threaten hopes of post-Brexit export-powered growth, if finance minister Rishi Sunak uses the housing market to fuel the economy like his predecessors did. Read more

    WTO report: Trade policy restraint prevented destructive acceleration of protectionism

    Trade policy restraint by G20 economies, as well as WTO members more broadly, prevented a destructive acceleration of protectionist trade measures that would have further hurt the world economy, according to the WTO’s latest Trade Monitoring Report. Read more

    Mexico to try former negotiator of USMCA trade pact

    AP: A judge in Mexico ordered the country’s former economy secretary, who served as one of the lead negotiators of the U.S.-Mexico-Canada free trade agreement, to stand trial on illicit enrichment charge. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade and Development News Digest – May 9-15, 2021

    Caribbean Trade and Development News Digest – May 9-15, 2021

    Welcome to the Caribbean Trade and Development News Digest for the week of May 9-15 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The Caribbean Community (CARICOM) will have its first female Secretary General as of August 15, 2021. This week, Heads of Government unanimously selected Belizean Dr. Carla Barnett to be the incoming SG. Read more about what awaits the new SG here.

    Jamaica is exploring once again the possibility of creating an Economic Residency Programme. Read more here.

    According to the World Trade Organization (WTO), Bolivia has notified  its need to utilise the flexibility under the TRIPS  2017 amendment. Read more

    United States Trade Representative (USTR) Ambassador Katherine Tai testified this week at a Senate Finance Committee Hearing on the President’s Trade Agenda. Read her remarks here.

    Afronomicslaw Symposium: Prospects for Deepening Africa-Caribbean Economic Relations – Call for Blogs (Extended Deadline: June 4)

    Given the limited but promising trade and investment relationship between both regions, there is a dearth of scholarly analysis on the Africa-Caribbean economic relationship. This Symposium aims to address this gap in international economic relations scholarship through considered analytical pieces exploring aspects of this understudied relationship. We invite authors to submit blog contributions which critically analyze and examine this relationship from a variety of perspectives. Read the full Call for Blogs here.

    REGIONAL NEWS

    Regional integration and the CSME to be taught in CARICOM classrooms

    Loop News Caribbean: Starting on Monday, around the region, the teaching of regional integration and the Caribbean Community (CARICOM) Single Market and Economy (CSME) will be done in classrooms as part of a new indicative by the CARICOM Secretariat. Read more

    CARICOM launches regional integration and CSME pilot programme

    Searchlight: The Caribbean Community (CARICOM) Secretariat is continuing efforts to increase the teaching of regional integration and the CARICOM Single Market and Economy (CSME) in CARICOM classrooms via a new initiative that was due to start yesterday, Monday May 10, 2021. Read more

    More Protection For Condensed Milk And Clinker In CARICOM

    JIS: Minister of Industry, Investment and Commerce, Hon. Audley Shaw, has informed that condensed milk and clinker (used in cement production) supplied within the Caribbean Community (CARICOM) “have [now] been afforded an additional layer of protection”. Read more

    State Entities That Facilitate Imports And Exports To Be Digitised

    JIS: Some 20 State entities that facilitate imports and exports are earmarked for digitisation under the Jamaica Electronic Single Window for Trade (JSWIFT) initiative. Read more

    Barbados AG: UK listing disappointing, but not surprising

    Nation News: Statement from Attorney General Dale Marshall on the UK Government’s listing of Barbados as a High-Risk Third Country. Read more

    Barbados, Dominica collaborating on resilience investment

    Barbados Today: Barbados is engaging the services of the International Financial Corporation (IFC) in association with Dominica, as the two countries seek to embark on a pilot project to spur private sector investment in resilience. Read more

    St Kitts PM makes global appeal for regional vaccine availability

    NYCaribNews: Prime Minister Dr. Timothy Harris Friday called on the United States and other vaccine producing countries to ensure the equitable distribution of the vaccine needed to curb the spread of the coronavirus (COVID-19) that has killed thousands of people in the Caribbean Community (Caricom) grouping. Read more

    CARICOM states ‘lack green energy drive’ despite ‘ambition

    Barbados Today: Warning that it will take upwards of $40 billion (US$20 billion) in investment for CARICOM to reach the goal of 100 per cent renewable energy use and energy efficiency, a senior regional civil servant has expressed disappointment at the slow pace of some member states in going green. Read more

    BTMI relaunches Barbados tourism brand

    Nation News: The Barbados Tourism Marketing Inc. (BTMI) virtually relaunched Barbados’ tourism brand to the world earlier today, unveiling the new brand theme “Little Island; Big Barbados”. Read more

    BTMI chief introduces National Tourism Marketing Committee

    Barbados Today: A new National Tourism Marketing Committee (NTMC) has been established under the Barbados Tourism Marketing Inc. (BTMI) to focus on the strategic marketing of niche tourism product offerings, the state tourism agency said Friday. Read more

    Barbados exports down

    Barbados Advocate: According to the data, overall domestic exports brought in income of $102.8 million, compared to $117.2 million a year earlier and $135 million in the same three-month period in 2019. Read more

    Increase trade in services – EU delegation

    Jamaica Gleaner: Head of the European Union (EU) Delegation to Jamaica, Marianne Van Steen, is encouraging Jamaica to increase trade in services to better exploit opportunities within the 27-member trade bloc. Read more

    Government of Belize Reconstitutes a National Trade Negotiating Commission

    LoveFM: Distance, language, tariffs, and import quotas are barriers that often put small and medium-sized economies at great trading disadvantages. But with the formation of the National Trade Negotiating Commission, Belize is hoping to even the playing field. Read more

    Bahamas ambassador promotes Caribbean priorities for EU partnership agreement

    EyeWitnessNews: Maria O’Brien, ambassador extraordinaire and plenipotentiary of The Bahamas to the Kingdom of Belgium and head of mission to the European Union, recently represented The Bahamas at an official ceremony to finalize a new partnership agreement between the Organisation of African, Caribbean and Pacific States (OACPS) and the European Union. Read more

    Trinidad & Tobago Trade Ministry promotes opportunities in the UK market

    Trinidad Express: As the Government of Trinidad and Tobago continues to actively increase the country’s exports to extra-regional markets, the Ministry of Trade and Industry in collaboration with exporTT Limited recently hosted a Virtual Awareness Session on the CARIFORUM-United Kingdom (UK) Economic Partnership Agreement (EPA). Read more

    Trade Minister meets with TT Chamber’s new Head

    Trinidad Express: Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry held a virtual meeting earlier today with the newly installed President of the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC), Mr. Charles Pashley. During the meeting several matters related to supporting the growth and expansion of the local private sector were discussed. Read more

    Use of The Bahamas’ vast ocean resources — Bahamas Development Bank looks at the potential and offers grants for training

    EyeWitness News: The recent Blue Economy Think Tank hosted by the Strategic Development and Initiatives Unit of the Bahamas Development Bank (BDB) attracted over 340 registered participants and 20 panelists from The Bahamas and abroad, who examined ways in which Bahamians can benefit from sustainable use of the country’s vast ocean resources. Read more

    IDB urges Caribbean countries to do more to meet their Paris Agreement commitments

    Jamaica Observer: The Inter-American Development Bank (IDB) says Latin America and the Caribbean countries must include finance and planning perspectives to their climate policies and commitments in their nationally determined contributions (NDCs) if they expect to deliver on their Paris Agreement objectives and promote a sustainable recovery. Read more

    INTERNATIONAL NEWS

    WTO DG fixes July ministerial meeting on over-fishing rules

    Reuters: The head of the World Trade Organization plans to host a ministerial meeting on July 15 where she hopes an agreement can be reached on cutting fisheries subsidies after 20 years of talks, a document showed on Monday. Read more

    WTO Aims for Agreement on Fisheries Subsidies in July 2021

    IISD: World Trade Organization (WTO) members reviewed work undertaken in March and April to advance negotiations on an agreement to curb harmful fisheries subsidies. WTO members are aiming to reach an agreement in July 2021. Read more

    How global trade can save lives and livelihoods – and help protect the planet

    WEForum: Global trade has a role to play in saving lives in the COVID-19 pandemic, creating jobs and sustainable development that mitigates against climate change. This was the view of the panellists at the World Economic Forum’s latest Agenda Dialogues session on the Global Trade Outlook. Read more

    Piyush Goyal, US Trade Representative discuss COVID-19 vaccine production, TRIPS waiver

    Business Today: During a meeting with Commerce and Industry Minister Piyush Goyal, United States Trade Representative (USTR), Katherine Tai, reaffirmed the commitment of the US to help India. Read more

    China, WTO need to upgrade overdue digital trade rules

    Hellenic Shipping News: Over the years, the digital economy has developed greatly throughout the world. But World Trade Organization (WTO) digital trade rules have stagnated. Since the new Director-General Ngozi Okonjo-Iweala took office in February, reforms regarding digital trade rules are facing greater challenges and opportunities. Read more

    ‘Hostile environment’: After Brexit, some EU citizens in the UK are worried about their future

    CNBC: Many EU citizens who are still living in the U.K. after Brexit have said they do not feel treated equally to British citizens and feel worried about their rights, a new survey has found. Read more

    After India-EU Summit, Is a Free Trade Agreement on the Cards?

    News18: Even as the European Union has got politically weakened by Brexit, internal tensions between western European countries and eastern ones, notably Hungary and Poland, over issues of democracy and European values, problems of migration, Islamism, terrorism and rise of right-wing forces, and, in addition, economically enfeebled by the still-uncontrolled COVID crisis, India has decided to draw closer to it, driven by its own political and economic challenges. Read more

    EAC Secretary General promises to increase intra-regional trade from 20% to 50% in the next five years

    EAC: The EAC Secretary General, Hon (Dr.) Peter Mathuki has promised the business community in the region that he will do everything within his power to address the vice of Non-Tariff Barriers to trade and trade wars, and work towards raising the volume of intra-regional trade from the current level of below 20% to more than 50% over the next five years. Read more

    Cotonou 2.0: A bad trade deal for Africa?

    DW: The new EU-OACPS Partnership Agreement is only a few weeks old, but already many in Africa are calling for an update. What are the reasons for the dissatisfaction? Read more

    Impact of COVID-19 on financing of free trade in Africa assessed

    ESI Africa: African Export-Import Bank, the UN Economic Commission for Africa, the African Development Bank and Making Finance Work for Africa Partnership have released a special African Trade Finance Survey Report assessing the impact of the COVID-19 pandemic on trade finance in Africa. Read more

    Kazungula Bridge to boost regional trade and commerce

    AllAfrica: The recently constructed 923-metre-long rail and road Kazungula bridge, linking Zambia and Botswana, was inaugurated on Monday in an effort to boost bilateral and regional trade. The bridge across the Zambezi River, co-financed by the two governments, is expected to boost trade and commerce between the two countries as well as increase economic activities and prospects of other Southern African Development Community (SADC) countries, including Namibia, Zimbabwe, Malawi, DRC and Mozambique. Read more

    Belarus, South Africa to strengthen business contacts

    BELTA: Belarus and South Africa plan to strengthen business contacts. The matter was discussed during the online meeting of the representatives of the Belarusian Chamber of Commerce and Industry (BelCCI) with President of the South African Chamber of Commerce Mtho Xulu, BelTA learned from the BelCCI website. Read more

    STRAIGHT FROM THE WTO

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    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade and Development News Digest – June 28-July 4, 2020

    Caribbean Trade and Development News Digest – June 28-July 4, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 28- July 4, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The UNCTAD-OECD-WTO Report on G20 Trade and Investment Measures released June 29, 2020 found that during the review period, G20 economies implemented 154 new trade and trade-related measures, 95 of them trade-facilitating and 59 trade-restrictive. It further found that “of these measures, 93 – or about 60% – were linked to the COVID-19 pandemic”. Read the full report here.

    The USMCA, the replacement for NAFTA, has taken effect but there is no end to the trade tensions among the three parties.

    This week the Hague-based International Court of Justice (ICJ) held its first virtual hearing on whether it has jurisdiction in the territorial dispute between Guyana and Venezuela to find that the 1899 arbitral award is binding. Read here

    The big news this week in the Caribbean has been the decision by leaders of the Caribbean Community (CARICOM) to dissolve regional air carrier LIAT. However, not all leaders are in favour. Antigua & Barbuda Prime Minister Gaston Browne has indicated his disagreement with giving up on the regional airline.

    CARICOM leaders met virtually on Friday, July 3. Barbados Prime Minister, Mia Amor Mottley, who held the six month rotating chairmanship of the regional bloc since January 2020, officially handed over to incoming chairman St Vincent & the Grenadines Prime Minister, Ralph Gonsalves. Watch a video from the Hand Over here.

    REGIONAL NEWS

    Guyana short-lists 19 companies to market its oil

    Reuters: A group of 19 companies including oil majors, trading houses and state-run firms were approved by Guyana’s government for the next phase of a competitive process aimed at selecting an agent for marketing its share of crude produced in the country. Read more

    Guyana Wants World Court To Confirm Border With Venezuela

    News Americas Now: Guyana may be embroiled in its own election fiasco, but it took time out Tuesday to urge the world court, the International Court of Justice (ICJ), to confirm the border between Venezuela and the then-colony of British Guiana once and for all. Read more

    Tourism bodies get funding to help in fight against illegal trade in wildlife

    Stabroek: The Tourism and Hospitality Association of Guyana (THAG) and the Guyana Tourism Authority (GTA) have received funding from the Latin American Trade Association (LATA) Foundation to create a Counter Wildlife Trafficking Communications Toolkit. Read more

    MSME Sector hard hit by COVID-19

    Barbados Advocate: The micro, small and medium enterprise (MSME) sector has been hard hit by the COVID-19 pandemic, as businesses have reported a fall-off in revenue due to measures taken to curb the spread of the virus and employers opted to go the route of layoffs rather than implementing pay cuts for their employees, during the lockdown period. Read more

    Government initiatives to help struggling small businesses coming soon

    LoopBarbados: Government will be rolling out a variety of programmes and initiatives to help Micro, Small, and Medium-Sized Enterprises (MSMEs) over the next few months. Read more

    PM Minnis: No Free Trade Zone for Andros

    EyeWitness News: Prime Minister Dr Hubert Minnis yesterday assured that the government will not approve a free trade zone in Andros and insisted his administration will not sell vast tracks of Bahamian land. Read more

    Saint Lucia launches ‘I AM CARICOM’ campaign

    St Lucia News Online: The Regional Integration Unit in the Office of the Prime Minister, in collaboration with the Caribbean Community (CARICOM) Secretariat, announces the launch of the ‘I AM CARICOM’ Communications Campaign in Saint Lucia. Read more

    Challenges of 2020 Amplify Importance of Regional Cooperation – CARICOM Outgoing Chair

    CARICOM: Outgoing Chair of the Caribbean Community (CARICOM), Prime Minister Mia Mottley of Barbados, has expressed profound gratitude to the organisation and institutions that have steered the Community through the unprecedented challenges posed so far by the year 2020. Read more

    PM Gonsalves Praises CARICOM Achievements, says Challenges Must Strengthen Movement

    CARICOM: The challenges of nature and the global political economy must serve as driving forces to build a stronger, better Caribbean Community (CARICOM), said Dr. the Hon. Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines. Read more

    CARICOM to conduct survey on impact of COVID-19 on food security

    NYCaribNews: The Guyana-based Caribbean Community (CARICOM) Secretariat Monday announced the launch of the second round of the Caribbean coronavirus (COVID-19) Food Security and Livelihoods Survey. Read more

    New models needed to encourage FDI in agriculture

    Barbados Today: The agriculture sector, which makes a significant contribution to the Gross Domestic Product (GDP) in many Caribbean economies, must look at new financing models to encourage foreign direct investment (FDI), as it seeks to rebuild from the fallout of the COVID-19 pandemic. Read more

    Imports down 39.7% in May, says SIB

    Amandala: The Statistical Institute of Belize (SIB) reported that Belize’s imports for May 2020 saw a dramatic decrease of $67.3 million, down 39.7% from the $169.4 million worth of goods we imported in May 2019. The SIB attributes most of this decrease to the COVID-19 pandemic, which resulted in an economic slowdown. Read more

    Jampro Pitching Seven Limestone Packages To Big Investors

    Jamaica Gleaner: Jampro on Wednesday pitched seven limestone packages to local and investors geared at exploiting around 50 billion tonnes of reserves laying idle across Jamaica. Read more

    We Gatherin’ could restart

    Barbados Today: Government has not closed the door on the possible restart of its Vision 2020 We Gatherin’ campaign that would see Barbadians from the diaspora returning to connect with their heritage, according to Project Coordinator for the campaign Selma Green. Read more

    Caricom SG says last four months exceptional for region

    NYCaribNews: Caribbean Community (Caricom) Secretary-General Irwin LaRocque said yesterday that the past four months have proven to be the “most exceptional periods” for the 15-member regional integration movement. Read more

    INTERNATIONAL NEWS

    The WTO needs a shake up before it’s too late

    Telegraph: Our global trading system is in trouble, and it’s only going to be made worse by the coronavirus pandemic. Read the full op-ed by Liam Fox here.

    EU trade chief Hogan says he will not seek to head WTO

    Euractiv: European Trade Commissioner Phil Hogan said on Monday (29 June) he would not seek to become the next director-general of the World Trade Organisation, despite having previously stated he was looking into the possibility. Read more

    Who Will Lead the WTO and Help It Avoid Collapse?

    Washington Post: The campaign to lead the World Trade Organization during the most turbulent period of its 25-year existence has officially begun. Playing out against the backdrop of a pandemic, a worldwide recession, the U.S.-China battle for trade supremacy and the American presidential election, there couldn’t be more at stake. Read more

    WTO needs urgent reform, says Saudi trade group

    Arab News: The World Trade Organization (WTO) requires urgent reform in the wake of the COVID-19 pandemic, according to the Think20 (T20) engagement group. Read more

    As New NAFTA Takes Effect, Much Remains Undone

    New York Times: The beginning of a new trade deal does not signal an end to trade disputes between United States, Canada and Mexico. Read more

    Justin Trudeau might skip US-Canada-Mexico summit due to tariff and coronavirus

    New York Post: Canadian Prime Minister Justin Trudeau might be skipping the United States–Mexico–Canada Agreement (USMCA) summit in Washington DC next week. Read more

    Brexit: Serious differences over trade deal, say UK and EU

    BBC: The UK and EU have said serious differences remain over a post-Brexit trade deal, following the latest negotiations in Brussels. EU negotiator Michel Barnier said the bloc’s position needed to be “better understood and respected” by the UK if an agreement is to be found. Read more

    U.K., Kenya to Negotiate Post-Brexit Trade Deal

    Bloomberg: British Prime Minister Boris Johnson and Kenya’s President Uhuru Kenyatta agreed to start negotiations for a post-Brexit trade agreement between the two nations. Read more

    UK sets September deadline for EU trade deal

    Euractiv: The UK has earmarked September as its deadline for agreeing on a new trade deal with the EU after negotiators held their first face-to-face meetings since the start of the coronavirus pandemic. Read more

    A ‘new Cold War’?: How the US-China trade dispute is deepening

    Al Jazeera: More industries are being penalised as bipartisan anti-China sentiment rises before the November polls in the US. Read more

    Niue ratifies regional PACER Plus trade agreement

    Radio New Zealand: Niue has ratified the regional trade agreement PACER Plus, pushing it closer to implementation. Read more

    China and India are sparring but neither can afford a full-on trade war

    CNN: Last month’s deadly border battle between India and China has already begun to affect business and technology. But the world’s two most populous countries have a lot to lose should the dispute escalate into a full-on trade war. Read more

    Why Accelerating Implementation of AfCFTA Must Remain a Top Priority

    Inter-press Service: 1 July 2020 was supposed to be the official date to start trading under the African Continental Free Trade Area (AfCFTA). It was a much-anticipated follow up to the 2019 African Union Summit, that launched the operational phase of the AfCFTA in a colorful ceremony in Niamey – Niger. Read more

    India may invoke GATS security exception at WTO to justify ban on Chinese apps

    Hindu Business Line: India may use its right to invoke security exceptions under the General Agreement on Trade in Services (GATS) at the World Trade Organization (WTO), if required, to justify the ban on 59 Chinese mobile apps, including the popular TikTok app, imposed by the Centre earlier this week, a government official has said. Read more

    UK statement to the WTO Committee on Trade and the Environment

    Gov.uk: The UK’s Ambassador to the WTO and UN in Geneva, Julian Braithwaite, delivered this statement at a meeting of the WTO Committee on Trade and the Environment on 3 July 2020. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade & Development Digest – March 8-14, 2020

    Caribbean Trade & Development Digest – March 8-14, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of March 8-14, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The COVID-19 outbreak has this week been declared a pandemic by the World Health Organisation. Globally, reported infections are now over 150,000 with deaths at nearly 6,000. The outbreak continues to have a negative impact on stock markets, commodities prices and global supply chains. Businesses worldwide have begun restricting employees’ travel and implementing work from home policies.

    According to an UNCTAD report published this week, the outbreak could cause global foreign direct investment (FDI) to shrink by 5%-15%.

    World services trade growth continued to weaken toward the end of 2019 and into the first quarter of 2020 according to the World Trade Organisation’s Services Trade Barometer, released on 11 March 2020. The indicator does not yet fully capture the economic impact of the COVID-19 virus and is likely to decline further in the coming months, according to the WTO.

    The WTO became one of several organisations which has cancelled all meetings in light of COVID-19. The Government of Kazakhstan has cancelled the WTO’s Ministerial Conference that was scheduled to be held there June 8-11 in light of the COVID-19 pandemic.

    In the Caribbean, several English-speaking Caribbean countries have now announced cases. This is in addition to several other non-English speaking Caribbean countries which reported cases earlier.

    See my articles on : The possible economic and trade impacts of COVID-19 on the Caribbean here and on small businesses/MSMEs here.

    REGIONAL NEWS

    ‘More trade coming’ with Suriname

    Barbados Today: With expected disruptions in global trade as a result of the COVID-19, Government officials are working around the clock to ensure that new opportunities are in place for Barbados to source some items from the region. Read more

    A WTO Investment Facilitation Agreement: Any added value for the Caribbean?

    Guyana Chronicle: With regional governments already undertaking reforms, would a WTO Multilateral Investment Facilitation for Development Agreement add value for the Caribbean or would the legal burdens of signing a multilateral agreement outweigh any potential benefits? Should the Caribbean seize this opportunity to be among the rule-makers in an area of development-interest to the region or should we sit this one out? Read more

    American firms, US revive ‘AmCham’ biz body

    Barbados Today: American business figures are seeking to re-establish a link with firms here and throughout the Eastern Caribbean in a bid to leverage new exports to the region. Read more

    All cruise lines cancel cruises over the next 30-60 days

    Barbados Today: Cruise Lines International Association (CLIA) has announced that all member ocean cruise lines are pausing sailings over the next 30-60 days. For most cruise lines, the cancellations will span the next 30 days. Read more

    Coronavirus shuts down Guyana-Suriname ferry crossing

    Demerara Waves: The Guyana-Suriname ferry service has suspended operations because that neighbouring country on Friday registered its first case of the novel coronavirus. Read more

    Barbados hosts successful consultations on CARICOM Strategic Plan

    Barbados Advocate: National consultations held in Barbados this week to help map the way forward for the results-focused new ten-year Caribbean Community (CARICOM) Strategic Plan, have been described as “rich and fruitful”. Read more

    Implementation of the Extended Article 164 Regime of the Revised Treaty of Chaguaramas

    St Lucia News Online: The Ministry of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs wishes to advise members of the general public of the impending implementation of a CARICOM wide initiative to enable the growth and development of the Less Developed Countries of CARICOM. Read more

    How will COVID-19 affect the economies of Latin America and the Caribbean?

    UNDP: The COVID-19 outbreak is a new potential source of volatility and a threat to the macroeconomic stability of Latin America and the Caribbean. While it is still too early to fully understand its impact on China’s growth, and how it will result in a slowdown in our region, what we know so far is that COVID-19 is spreading at an accelerated rate and has caused a disruption to China’s economy. Read more

    Belize and Florida continue to strengthen Bilateral Trade and Investment relationship

    Breaking Belize News: Тhе Веlіzе Тrаdе аnd Іnvеѕtmеnt Dеvеlорmеnt Ѕеrvісе (ВЕLТRАІDЕ), а ѕtаtutоrу bоdу undеr thе Міnіѕtrу оf Есоnоmіс Dеvеlорmеnt, Реtrоlеum, Іnvеѕtmеnt, Тrаdе аnd Соmmеrсе оf thе Gоvеrnmеnt оf Веlіzе (GОВ), wеrе hоѕtеd аt а twо-dау оutbоund Веlіzе Вuѕіnеѕѕ Міѕѕіоn іn Таllаhаѕѕее, Flоrіdа UЅА. Read more

    Jamaican businesses seek spin-offs from booming Guyanese economy

    Jamaica Observer: The massive oil discovery in Guyana will have a dramatic effect on driving its developing economy, with a growth rate of 85 per cent recently predicted by the International Monetary Fund (IMF). Read more

    INTERNATIONAL NEWS

    Coronavirus could shrink global FDI by 5% to 15%

    UNCTAD: The coronavirus (COVID-19) outbreak could cause global foreign direct investment (FDI) to shrink by 5%-15%, according to an UNCTAD report published on 8 March. Read more

    Global Diplomacy Grinds to a Halt on Infection Fears

    Foreign Policy: One by one, the U.N., WTO, and other major international players are canceling regular gatherings. Read more

    COVID-19 Survey: Impacts on Global Supply Chains

    Business Facilities: Nearly 75 percent of companies report supply chain disruptions in some capacity due to coronavirus-related transportation restrictions, according to the newly released results of a survey focused on coronavirus disease 2019 (COVID-19) business and supply chain impacts. Read more

    Coronavirus: US travel ban on 26 European countries comes into force

    BBC: President Donald Trump’s travel ban on 26 European nations has come into force in the US, as part of a contingency plan to tackle the coronavirus crisis. Read more

    COVID-19-hit Iran asks IMF for aid amid US sanctions

    Deutsche Welle: For the first time in six decades, Iran has requested a loan from the IMF to fight the coronavirus outbreak. US sanctions have isolated the country from the global financial system. They could also stop IMF assistance. Read more

    Brexit: coronavirus sparks calls to extend EU transition period

    The Guardian: Britain and the EU are facing calls to back away from a “game of chicken” and extend the Brexit transition period immediately, as both respond to the coronavirus pandemic. Read more

    Brexit: EU drafts trade deal ahead of talks with UK

    BBC: The EU has drafted a post-Brexit trade deal proposal, covering areas such as security, foreign policy and fisheries. The 441-page draft legal text, seen by the BBC, was sent to the 27 EU states on Thursday night, ahead of being presented to the UK next week. Read more

    African Free-Trade Deal on Track Despite Coronavirus

    Bloomberg: The coronavirus pandemic is unlikely to scupper a July 1 target for the first commerce under an African-wide free-trade deal, even if meetings to iron out details are being canceled, according to the zone’s most senior official. Read more

    Global business travel could suffer $820bn virus hit, says group

    Al Jazeera: The global spread of the coronavirus is increasingly affecting business travelers, an industry body said. Read more

    STRAIGHT FROM THE WTO

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