Caribbean Trade Law and Development

Category: trade digest

  • 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

    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 News Digest – December 9-14, 2019 – Christmas Edition

    Caribbean Trade & Development News Digest – December 9-14, 2019 – Christmas Edition

    Welcome to our final Caribbean Trade & Development News Digest for the year 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the week of December 9-14, 2019! We do hope that you have enjoyed our Digests over the past year!

    THIS WEEK’S HIGHLIGHTS

    Several major trade developments happened this week. It is quite a mouthful so let us go one by one, starting with the bad and ending with the good:

    The bad

    One sad development is that as of December 11, the WTO’s Appellate Body no longer has the quorum required to hear new appeals to panel decisions. It was later reported that the two outgoing Appellate Body members will stay on temporarily to complete some existing appeals. Read more here.

    The WTO Director-General’s annual report to the TPRB of trade-related developments shows that between mid-October 2018 and mid-October 2019, the trade coverage of import-restrictive measures implemented by members was estimated at USD 747 billion – the highest trade coverage recorded since October 2012. Read the full news item here.

    On the COP25, the climate talks have ended with a compromise. Read here

    The good

    Some good news is that the WTO’s General Council at its last meeting for the year has approved the WTO’s budget for 2020 and extended two important moratoria related to customs duties on electronic transmissions and the initiation of “non-violation” complaints under the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Read more here.

    Additionally, the Trump Administration finally struck a deal with congressional Democrats on changes to the USMCA – the agreement to replace NAFTA. This should hopefully clear the path for US domestic ratification of the deal which was originally signed in November 2018 and whose amended version was signed by the three countries this week. Read the Protocol of Amendment here.

    The 9th ACP Summit of Heads of State and Government was held this week in Nairobi, Kenya from December 9-10. The ACP has been renamed the Organisation of Africa, Caribbean and Pacific States (OACPS).

    Turning to Brexit, the British electorate has given the ruling Conservative Party a decisive win. Does this mean a clear path forward now for Brexit? Maybe or maybe not. Read my commentary on it here!

    On the US-China trade war front, the US and China have announced completion of a ‘phase one’ trade deal. As such, the anticipated December 15, US tariffs on Chinese goods have not been implemented.

    REGIONAL NEWS

    CARICOM countries to benefit from global e-mobility programme

    Dominica News Online: Three Caribbean Community (CARICOM) countries are to benefit from a new Global Environment Facility (GEF) global e-mobility programme that has been launched at the ongoing United Nations Climate Change Conference (COP25). Read more

    UWI Strengthening Canada-Caribbean Relations

    UWI: Vice-Chancellor of The University of the West Indies (The UWI), Professor Sir Hilary Beckles is pleased to announce that the proposal for the establishment of the Canada-Caribbean Institute (CCI) was approved at a meeting of the University Finance and General Purposes Committee UFGPC) on October 30, 2019. Read more

    Barbados ‘may seek WTO ease’ on milling competition

    Barbados Today: Competition is heating up among the regional flour mills, threatening the milling industry in Barbados and the wider region, the industry and commerce minister said today, suggesting that Barbados ought to appeal to global trade arbiter for protection against extra-regional suppliers. Read more

    WTO: Are we in or out?

    EyeWitness News: The country’s World Trade Organization (WTO) accession has effectively come to a standstill, the nation’s chief negotiator has confirmed. Read more

    Social Media ‘Untruths’ Impact Bid To Join Wto

    The Tribune: The Bahamas’ bid to attain full World Trade Organisation (WTO) membership has been made harder by the spread of untruths on social media, the Government’s top negotiator has argued. Read more

    Wto: Bahamas May Have To Open Reserved Industries

    The Tribune: The Bahamas may have to open some of the 16 industries reserved solely for local ownership to foreign competition in becoming a full WTO member, the government’s top negotiator is warning. Read more

    Bahamas must flip approach to WTO

    The Tribune: The Bahamas should go “full steam ahead” in pursuing World Trade Organisation (WTO) membership through a private sector-driven approach that improves competitiveness, an attorney is arguing. Read more

    Belarus and Barbados establish diplomatic ties

    Belarus News: Permanent Representative of Belarus to the UN Valentin Rybakov and Permanent Representative of Barbados to the UN Henrietta Elizabeth Thompson signed a joint communique to establish diplomatic relations between the countries, BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs. Read more

    Action Being Taken To Make The Export Of Goods And Services Easier

    JIS: State Minister for Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, says the Government is working to make the export of local goods and services easier, by reducing the associated costs and processes. Read more

    South Holland Council is working on trading links with Jamaica

    Spalding Today: Officials have been forging closer relationships for trading produce between South Holland and Jamaica. Read more

    AMCHAM Jamaica signs MoU with US Embassy

    Jamaica Observer: United States Ambassador to Jamaica, Donald Tapia today signed a Memorandum of Understanding (MoU) with the American Chamber of Commerce of Jamaica (AMCHAM Jamaica) cementing the business relationship between the two organisations. Read more

    CARICOM and AFRICA – The Ties That Bind

    New York CaribNews: We are pleased to see the furtherance of collaboration between Africa takes another step with the opening of a CARICOM Office in Nairobi, Kenya. The Pan African movement of decades ago promoted the cultural heritage and historic ties and one that should also involve economic development. Read more

    Jampro Eyes Threefold Export Sales Growth For Max III Companies

    Jamaica Gleaner: Jampro president Diane Edwards is ­expecting the third cohort of companies selected for the Export Max programme to triple their export sales through their participation in the initiative. Read more

    Africa to open air and sea for trade with Caribbean and Pacific

    Star: The ninth African, Caribbean and Pacific (ACP) ended in Nairobi on Tuesday, with 79 countries pledging to promote inter Africa trade against unfair global trade practices. Read more

    79-member ACP now Organisation of African, Caribbean and Pacific States

    Jamaica Observer: The African, Caribbean and Pacific (ACP) Group yesterday ended a two-day summit here, agreeing to rename the 45-year-old organisation as the Organisation of African, Caribbean and Pacific States (OACPS). Read more

    INTERNATIONAL NEWS

    WTO chief: ‘Months’ needed to fix disputes body

    BBC: Director General of the World Trade Organisation Roberto Azevedo says it will take “a few months” to fix its main body for settling trade disputes. Read more

    What’s in the U.S.-China ‘phase one’ trade deal

    Reuters: The United States and China have agreed on the terms of a “phase one” trade deal that reduces some U.S. tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and manufactured goods and addressing some U.S. complaints about intellectual property practices. Read more

    US, Mexico, Canada sign USMCA trade deal

    DW: Canada, Mexico and the United States have reached an agreement on a revised North American free trade pact. The deal, seen as a replacement for the 25-year-old NAFTA, is the result of more than two years of wrangling. Read more

    New North America Trade Deal Seen as Template for Deals to Come

    WSJ: USMCA’s provisions could find their way into other trade deals, based on Trump administration’s reworking of Nafta. Read more

    Evaluating the new USMCA

    CATO: Read the analysis from CATO Institute on the new USMCA. Read more

    ACP renamed as the Organisation of African, Caribbean and Pacific States

    Papua New Guinea Today: The 9th Summit of Africa, Caribbean and Pacific (ACP) Head of States and Government Tuesday approved the renaming of the group to be now called the Organisation of African, Caribbean and Pacific States (OACPS). Read more

    UK must be loyal on standards in return for market access – Macron

    The Guardian: Emmanuel Macron has warned Boris Johnson that the UK must remain “loyal” to EU standards post-Brexit for British companies to maintain access to the European market. Read more

    Sturgeon: Scotland wants different future from rest of UK

    BBC: SNP leader says election results made clear Scottish voters don’t want a Boris Johnson government or Brexit. Read more

    Michael Gove promises Brexit trade deal with EU by end of 2020

    Guardian: Minister says transitional arrangements will definitely stop on 31 December next year. Read more

    Election results 2019: Five big things on Boris Johnson’s to-do list

    BBC: With a substantial majority in Parliament, Boris Johnson can push ahead with his plans, confident that MPs will back them. So, what’s in the prime minister’s in-tray as he returns to work in Downing Street? Read more

    Brexit and EU trade deal are Boris Johnson’s priorities, says Michael Gove

    EU Today: The top priority of British Prime Minister Boris Johnson’s government is to leave the European Union on January 31st, and to secure a new trade deal with the EU by the end of next year, cabinet office minister Michael Gove, who is likely to be the UK’s lead trade negotiator with the EU, said on Sunday. Read more

    Europe reacts: Time frame for post-Brexit trade deal ‘is challenging’, says EU chief

    Euronews: The European Union have welcomed Boris Johnson’s thumping general election victory, calling for the Brexit deal to be ratified as soon as possible with Commission President Ursula von der Leyen stressing that “the time frame ahead of us is very challenging”. Read more

    Australian trade to be a winner in post-Brexit world, Brandis says

    The Sydney Morning Herald: Australia’s top envoy in London says political obstacles in the path of a massive free-trade agreement between Boris Johnson and Donald Trump leave Prime Minister Scott Morrison as the frontrunner to strike the world’s first post-Brexit economic deal with the United Kingdom. Read more

    ACP summit ends with adoption of resolutions to boost multilateralism

    XInhua: The ninth summit of African Caribbean and Pacific (ACP) heads of state and government ended in Nairobi on Tuesday with the adoption of resolutions to promote a rules-based international order. Read more

    WTO Appeals Judges to Stay On to Complete Several Decisions-WTO Official

    NY Times: World Trade Organization (WTO) judges will complete decisions on three pending appeals for which hearings have been held – despite the collapse of the Appellate Body earlier this week – a WTO official said on Thursday. Read more

    Experts call for integrating digital economy with AfCFTA to spur Africa’s development

    News Ghana: African experts and policymakers on Thursday called for integrating the digital economy with the Africa Continental Free Trade Area Agreement (AfCFTA) so as to harness potentials of the continental free trade pact. Read more

    Experts meet to validate African Continental Free Trade Area (AfCFTA) Business Index

    Business Ghana: The aim of the index is to provide an assessment of the extent to which businesses across Africa find trading across borders in Africa challenging, and to identify the main barriers to trade. Read more

    Cut red tape to boost trade, Uhuru urges Africa, Caribbean, Pacific states

    Business Today: President Uhuru Kenyatta has called for improvement of regulatory and institutional frameworks to promote faster economic growth among developing countries in Africa and the Caribbean. Read more

    The African Continental Free Trade Area Could Boost African Agency in International Trade

    Chatham House: The agreement, which entered into force in May, could be a major step for Africa’s role in international trade, if the continent can overcome barriers to implementation. Read more

    Uhuru seeks to review skewed EU trade agreements

    Nation: President Uhuru Kenyatta has termed current trade agreements with the European Union as largely imbalanced. 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 News Digest – November 17-23, 2019

    Caribbean Trade & Development News Digest – November 17-23, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of November 17-23, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    World merchandise trade is expected to remain below trend into the fourth quarter of 2019, according to the WTO’s latest Goods Trade Barometer. Read more here. The WTO’s new Trade Monitoring Report issued on 21 November shows that G20 economies from mid-May to mid-October 2019 introduced import-restrictive measures covering an estimated USD 460.4 billion worth of traded merchandise, a 37% increase: Read more.

    At the 38th Session of the ACP-EU Joint Parliamentary Assembly held November 17-21 in Kigali, Rwanda, parliamentarians from the European and ACP parliaments agreed on several resolutions. Read more here.

    CARICOM trade ministers met in Georgetown, Guyana, 18-19 November, for the 49th Regular Meeting of the Council for Trade and Economic Development (COTED). Read more here. A delegation from CARICOM also held a roundtable discussion with the US Congress on the issue of de-risking on November 19.

    REGIONAL NEWS

    US Congress Roundtable on de-risking in the Caribbean hailed a success

    CARICOM: Representatives of the governments of the 15-nation Caribbean Community (CARICOM) had a fully-attended Roundtable meeting on Tuesday November 19 with members of the U.S. Congress and senior representatives of major U.S. banks, concerning the effects of de-risking and the withdrawal of correspondent banking relations (CBRs). Read more

    UWI hosts Caribbean-China trade, investment symposium

    Guyana Chronicle: The University of the West Indies (UWI) Cave Hill Campus held a symposium titled “Exploring New Horizons in Caribbean-China Trade and Investment Relations” on Tuesday at the Errol Barrow Centre for Creative Imagination (EBCCI). Read more

    T&T manufacturers say seeking to tap all opportunities here

    Stabroek News: The Trinidad and Tobago Manufacturers’ Association (TTMA) led a Trade Mission to Guyana, from Wednesday to today, to engage in mutual trade with Guyanese companies. Read more

    Decisiveness, alacrity needed to confront challenges – COTED Chair

    CARICOM: Ministers with responsibility for Trade and Foreign Relations, in the Region began a two-day Meeting in Georgetown, Guyana, on Monday, against the background of difficult circumstances – trade, economic and environmental – facing the Caribbean Community (CARICOM). Read more

    Cops to receive training on trade-based money laundering

    LoopTT: Police Commissioner Gary Griffith met with Programme Officer of the Cybercrime and Anti-Money Laundering Section of the United Nations Office on Drugs and Crime (UNODC), Yevheniy Umanets. Read more

    JAMPRO pledges $1m in support of Kingston Creative

    Jamaica Observer: The Jamaica Promotions Corporation (JAMPRO) on Wednesday pledged $1million in support of Kingston Creative, a movement aimed at promoting culture and the regeneration of downtown Kingston. Read more

    Jamaica Customs updates items not requiring trade licenses

    Jamaica Observer: The Jamaica Customs Agency (JCA) has published a list of items which no longer require import or export licences from the Trade Board. Read more

    Minerals Sector Contributes 2.7 Per Cent To GDP

    JIS: Minister of Transport and Mining, Hon. Robert Montague, says in 2018, the minerals sector contributed some 2.7 per cent to Gross Domestic Product (GDP), while earning some US$1.3 billion. Read more

    Jamaica And China To Focus On Increasing Trade

    JIS: Prime Minister, the Most Hon. Andrew Holness, says Jamaica and China will focus on increasing trade, particularly in getting more Jamaican goods into the Chinese market. Read more

    Process to support CARICOM use of Jamaica’s new skills certificate completed — Johnson Smith

    Jamaica Observer: Minister of Foreign Affairs and Foreign Trade Kamina Johnson-Smith says Jamaica, during the 49th meeting of the Caribbean Community (CARICOM) Council for Trade and Economic Development (COTED) in Georgetown, Guyana, completed the process to support the use of the country’s new higher-security skill certificate. Read more

    The Organisation of Eastern Caribbean States (OECS) joins GGGI as its 34th Member and 1st Regional Integration Member

    OECS: The Organisation of Eastern Caribbean States (OECS) became the 34th Member of the Global Green Growth Institute (GGGI) after formally submitting its Instrument of Accession. The OECS is also the first regional integration organisation to become a member of GGGI. Read more

    Securing Economic Integration: The importance of intraregional trade

    OECS: Intraregional trade is a critical component of the OECS integration process. Significant strides have been made over the years to secure the foundation for a thriving common market – resulting in the successful establishment of the Eastern Caribbean Economic Union in January, 2011. Read more

    Barbados commercial expo in Belize

    LoveFM: Barbados Investment and Development Corporation and Belize’s Ministry of Investment, Trade and Commerce brought the Barbados Commercial Mission to Belize Expo. Today ten companies from Barbados were represented at the expo. Read more

    Some CARICOM countries want amendment to Common External Tariff for certain products

    Kaiteur News: The Council for Trade and Economic Development (COTED) has been receiving a concerning number of requests for the suspension of the region’s common external tariff (CET) for certain products. This is according to the Chair of the 49th meeting of the Council, Francine Baron. Read more

    CARICOM delegation discussing corresponding banking in the US

    Jamaica Observer: Antigua and Barbuda Prime Minister Gaston Browne is leading a Caribbean Community (CARICOM) delegation to the United States to participate in a roundtable discussion on de-risking and correspondent banking. Read more

    After trade deal, unhealthy foods flowed into Central America, Dominican Republic, study finds

    Buffalo University: The research highlights the importance of studying ties between trade and diet. Read more

    Icecream making to return to Bim

    Barbados Today: Iconic ice cream brand BICO will once again be made in Barbados come February after a decade of overseas production in several countries, BICO Ltd’s executive director Edwin Thirlwell, announced Tuesday. Read more

    INTERNATIONAL NEWS

    The WTO Faces a New Threat From Trump, This Time Over Its Budget

    Bloomberg: The Trump administration on Friday criticized the World Trade Organization’s compensation structure for appellate body members, laying out a case for potentially blocking the institution’s budget and effectively halting its work starting next year. Read more

    Twenty-second UNCTAD-OECD Report on G20 Investment Measures

    UNCTAD: The joint UNCTAD-OECD Report reveals that investment policy making in G20 members has slowed down further during the reporting period (mid-May to mid-October 2019). Only a few G20 Members took investment policy action, and the number of measures was low. Read more

    Beijing signs 197 Cooperation documents on Belt & Road Construction

    Belt and Road News: China has Signed 197 Cooperation documents on Belt & Road Construction with 137 Countries and 30 International organisations by the end of October 2019, Meng Wei, the Spokeswoman for the National Development and Reform Commission (NDRC), said at a Press Conference in Beijing. Read more

    ACP-EU : Agreement on climate change, migration and post-Cotonou

    European Parliament: MEPs and African, Caribbean and Pacific MPs agreed on climate change, migration, sustainable growth and the post-Cotonou agreement. Read more

    ACP-EU : Agreement on climate change, migration and post-Cotonou

    European Sting: During the 38th session of the Joint Parliamentary Assembly (JPA), which took place from 17 to 21 November in Kigali (Rwanda), Members of the European Parliament and their counterparts from 78 African, Caribbean and Pacific (ACP) countries debated and adopted several resolutions. Read more

    Need for a progressive EU-ACP partnership to address common global challenges

    Euractiv: The international scenario is rapidly changing, but not necessarily in a positive way. That’s why there is a need for a progressive partnership between the European Union and the Africa-Caribbean-Pacific countries, writes MEP Carlos Zorrinho. Read more

    Rwanda: Senate President Urges Lawmakers to Reflect Deeply on Global Issues

    AllAfrica: Senate President Dr Augustin Iyamuremye on Tuesday told delegates at the ongoing 38th session of the ACP-EU joint parliamentary assembly in Kigali that they must seize the opportunity, to reflect deeply on regional and global issues. Read more

    EU-Singapore trade agreement enters into force

    EU: On 21 November 2019, the EU-Singapore trade agreement entered into force. This means, among other benefits, that Singapore will now remove all remaining tariffs on EU products, provide new opportunities for EU services’ providers, ensure legal protection for 138 iconic European food and drink products (known as Geographical Indications), as well as remove regulatory obstacles to trade in key sectors. Read more

    WTO dispute settlement and the Appellate Body crisis: Insider perceptions and Members’ revealed preferences

    Vox: The WTO dispute settlement system is in crisis, endangering the future of the organisation. The proximate reason for alarm is the dwindling number of Appellate Body (AB) members, the result of the US blocking new appointments as the terms of sitting members expire. Read more

    Expert analysis: Africa’s free trade area – where are we now?

    GTR: The African Continental Free Trade Area (AfCFTA), launched in 2018 and now in its operational phase, is a landmark deal that aims to bring together 54 African countries with a combined population of more than 1 billion people and a combined GDP of over US$3tn. Read more

    Global Goods Trade Hit by Tensions and Rising Tariffs, WTO Says

    Bloomberg: Global trade in goods will likely remain below trend through the current quarter due to heightened tensions and rising tariffs in key sectors, according to a World Trade Organization report. Read more

    Japan’s Lower House approves trade deal with U.S.

    Japan Times: The Lower House signed off Tuesday on a trade deal with the United States that cuts tariffs on farm and industrial products, taking a step toward its entry into force next year. Read more

    The US–Japan trade deal: small agreement, broad implications

    East Asia Forum: The recent announcement of the US–Japan Trade Agreement (USJTA) must have come as a surprise to many in Japan given its unusual expeditiousness. The agreement was concluded just six months after negotiations began — a dramatic contrast to the EU–Japan Economic Partnership Agreement which took more than five years to achieve. Read more

    Japan’s exports post worst fall in 3 years as shipments to U.S., China drop

    Reuters: Japan’s exports tumbled at their quickest pace in three years in October, threatening to tip the trade-reliant economy into recession as weakening demand from United States and China darkened the outlook. Read more

    Donald Trump’s block on WTO judges creates ‘doomsday scenario’ for world trade disputes

    South China Morning Post: The world will not end on December 10, yet for many who have spent their careers within the global trading oversight system, the date has apocalyptic consequences. Read more

    Germany’s Merkel urges more investment in Africa

    RFI: Speaking at the third G20 Compact with Africa Summit in Berlin, German Chancellor Angela Merkel has urged more businesses to invest in Africa. But two years after its launch, experts say the compact has failed to reassure investors. Read more

    Global trade umpire: the next casualty of Trump’s tariff war?

    Reuters: U.S. President Donald Trump has upended the global trade order with a slew of tariffs on economic rivals: now, Washington has redoubled its efforts to paralyze the very body designed to settle such disputes. Read more

    Developing Global Free Trade: Linking China’s BRI with Mercosur, South America

    China Daily Briefing: Chinese President Xi Jinping has just returned from Brazil where he attended the annual meeting of the BRICS nations in Brasilia. With the Presidents and Prime Ministers from India, Russia, and South Africa also all attending, the scene has been set for Russia’s stint as the BRICS Chair in 2020, which is just six weeks away. Read more

    Beijing tariff demands may expand U.S.-China ‘phase one’ trade deal significantly

    Reuters: A “phase one” trade deal between the United States and China was supposed to be a limited agreement that would allow leaders from both countries to claim an easy victory while soothing financial markets. Read more

    EU defies Boris Johnson and declares UK will only get a ‘bare-bones’ trade deal or a no-deal Brexit next year

    Business Insider: The European Union’s trade chief has declared that Boris Johnson will only get a “bare-bones” trade deal next year — or none at all. Read more

    Eurobarometer survey: Majority of EU citizens positive about international trade

    EU: The results of a special Eurobarometer survey published today by the European Commission show that 60% of Europeans feel that they personally benefit from international trade, 16 percentage points more than 10 years ago at the time of the previous poll. Read more

    European Union launches WTO trade dispute against Colombia’s unfair duties on frozen fries

    EU: The EU has today brought a dispute to the World Trade Organization (WTO) against unlawful anti-dumping measures imposed by Colombia on frozen fries from Belgium, Germany and the Netherlands. Read more

    EU-Singapore free trade agreement comes into force

    Strait Times: The landmark trade agreement between the European Union and Singapore, which removes nearly all Customs duties between the two jurisdictions, comes into force today. Read more

    STRAIGHT FROM THE WTO

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