Caribbean Trade Law and Development

Category: trade news digest

  • Caribbean Trade and Development News Digest – April 19-25, 2020

    Caribbean Trade and Development News Digest – April 19-25, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of April 19-25, 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 fifteenth session of the UNCTAD Ministerial Conference (UNCTAD 15), which was to be held in October this year in Barbados, has become the latest trade conference to be postponed in the midst of the COVID-19 pandemic. Official word of this came from the Barbados Government this week which can be read here.

    The USMCA will go in effect on July 1, 2020. Read more

    The CARICOM Secretariat’s live blog on CARICOM Member States and Associate Members’ figures in relation to the COVID-19 pandemic may be accessed here.

    REGIONAL NEWS

    COVID-19 to cause biggest economic contraction ever in Latin America & Caribbean

    UN: The COVID-19 pandemic will herald the worst economic contraction in the history of Latin American and the Caribbean, with a projected -5.3 per cent drop in activity this year, according to a report by the UN office for the region, ECLAC, published on Tuesday. Read more

    Talking Exports: How Caribbean Export Will Support Region’s Private Sector through COVID-19

    CARICOM: The COVID-19 pandemic will have a significant impact on the private sector and economies globally. The economic slowdown will severely affect MSMEs, as they suffer from the impact of government decreed shutdowns, supply chain disruption and demand contraction. Read more

    Measures agreed upon to allow travel between Guyana, Suriname

    CARICOM: Some new ground rules have been agreed to by both Guyana and Suriname on travels between the two neighbours, in light of the novel Coronavirus, COVID-19 pandemic. Read more

    IICA will assist the Caribbean to boost trade in goods and agricultural information exchange, as well as to strengthen food security

    St Lucia News Online: Thirteen Caribbean Ministers of Agriculture participated in a videoconference with the Director General of the Inter-American Institute for Cooperation on Agriculture (IICA), in which they discussed strategies to bolster agricultural activity and to safeguard the food supply amidst the ongoing health crisis, in a region that relies heavily on food imports and on tourism. Read more

    INTERNATIONAL NEWS

    Govt sees GDP, investment boost if joins CPTPP trade pact

    Bangkok Post: Thailand could expect a boost to its economic growth, investment and exports to help offset the negative impact of the new coronavirus pandemic if it participates in an Asia-Pacific trade agreement, the commerce ministry said on Monday. Read more

    Covid-19 response: New Zealand and Singapore launch initiative to ensure free flow of essential goods

    New Zealand Government: New Zealand and Singapore today launched a new trade initiative to ensure supply chain connectivity and the removal of blockages to trade in a list of essential products that includes medicines, medical and surgical equipment. Read more

    WTO and IMF heads call for lifting trade restrictions on medical supplies and food

    IMF: As our members grapple with their response to the global health and economic crisis, we call for more attention to the role of open trade policies in defeating the virus, restoring jobs, and reinvigorating economic growth. Read more

    80 countries are hoarding medical supplies – here’s why it damages the global response to COVID-19

    WEF: Eighty countries and customs territories have banned or limited the export of face masks, protective gear, gloves and other goods to mitigate shortages since the coronavirus outbreak began, the World Trade Organization reported on Thursday. Read more

    New USMCA trade pact to go into effect on July 1

    Financial Post: U.S. Trade Representative Robert Lighthizer on Friday said he has notified Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than initially proposed. Read more

    U.S. should avoid phased approach in trade talks with Kenya: Chamber of Commerce

    Reuters: The United States should work to achieve a single, comprehensive agreement with Kenya that removes barriers to trade and investment, instead of pursuing a phased approach, the U.S. Chamber of Commerce said in a document viewed by Reuters. Read more

    The AfCFTA Gets Locked Down for the Year

    AllAfrica: The African Continental Free Trade Agreement (AfCFTA) has become the latest in the many casualties of the devastating coronavirus pandemic which has so far infected over 2.7 million people and killed more than 191 000 globally. In Africa the toll is over 27 000 cases and 1 298 deaths. Read more

    UK will need to extend Brexit transition, Merkel ally warns Britain

    The Guardian: Boris Johnson must extend the UK’s transition out of the EU for up to two years to avoid compounding the economic damage of the coronavirus pandemic with a hugely disruptive and disorderly Brexit, according to a close ally of Angela Merkel. Read more

    Argentina to Exit Mercosur Trade Talks to Focus on Problems at Home

    New York Times: Argentina has decided to withdraw from ongoing trade negotiations with South American trade bloc Mercosur as it turns its focus on the growing economic crisis at home, the bloc said in a statement late on Friday. Read more

    Mercosur: Argentina only interested in block’s negotiations with Europe

    Mercopress: In the midst of the chaotic situation caused by the pandemic, the Argentine government announced the abandonment of Mercosur negotiations to prioritize the country’s domestic economy and the struggle against the virus. 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 – January 12-18, 2020

    Caribbean Trade and Development News Digest – January 12-18, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of January 12-18, 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

    This was a busy week for trade news. The US-China phase one deal was signed. While it does not address all of the issues affecting US-China trade relations, it attempts a first crack at it. The full text of the Agreement may be accessed here.

    The US is one step closer to ratification of the revised USMCA. The US Senate’s approved revised US-Mexico-Canada Agreement (USMCA) by an overwhelming vote of 89 to 10, and the bill now goes to the President for signature.

    REGIONAL NEWS

    ACP EU CARICOM Workshop Set for Saint Lucia

    The Voice: Regional and international quality professionals from the Caribbean Community (CARICOM) and the European Union (EU) will gather in Saint Lucia next week as three days of discussions and training focussed on strengthening regional trade, get underway at the Coco Palm Resort, Rodney Bay, Castries. Read more

    Trade between Cuba and Russia grows in 2019

    On Cuba News: In 2019, commercial exchange between Cuba and Russia exceeded 500 million dollars, Cuban ambassador in Moscow Gerardo Peñalver Portal said to Sputnik. Read more

    TT moves to improve cross-border trade

    Newsday: A new port technology platform will help to improve this country’s trading across borders, said Trade Minister Paula Gopee-Scoon. Read more

    Paula pushes pan grant

    Newsday: Trade Minister Paula Gopee-Scoon told Newsday she was very pleased at Friday’s talks with Pan Trinbago president Beverly Ramsey-Moore and University of Trinidad and Tobago governor Prof Clem Imbert to promote her ministry’s new $5 million grant-facility to make steel pans. Read more

    TT Chamber CEO praises non-energy export growth

    Newsday: Chamber of Industry and Commerce CEO Gabriel Faria said the chamber is pleased with growth in non-energy exports. “This shows the benefit collaboration can bring,” he said. Read more

    UK and TT strengthen trade ties

    Newsday: British High Commissioner Tim Stew has urged local companies to engage with the UK companies which were brought in by the Department for International Trade (DIT) for the UK Defence and Security Trade Mission. Read more

    Rum-makers report rising sales

    Barbados Today: One of Barbados’ main rum producers is reporting a major turn around in its export business, which climbed over 80 per cent in the last three years. Read more

    Local Manufacturers Welcome Article 164 Implementation

    The Voice: Many St Lucians may be unaware of the January 1, 2020 implementation of Article 164 of the RTC. Read more

    Jamaica import bill rises by 6.5% in the first nine months of 2019

    Jamaica Observer: Jamaica’s imports for January to September 2019 were valued at US$4,816.5 million, an increase of 6.5 per cent when compared to US$4,520.4 million which was spent for the similar period in 2018 according to the International Merchandise Trade (IMT) Bulletin released recently by the Statistical Institute of Jamaica (STATIN). Read more

    Imports from the OECS, Haiti and Belize to attract zero percent tariff rate

    St Lucia News Online: A decision by CARICOM is set to benefit less developed countries (LDCs) of CARICOM including Saint Lucia. Read more

    Solving Jamaica’s Export Challenges

    Jamaica Gleaner: The export of Jamaican goods and services has long been recommended as the pillar on which the country can drive real and consistent growth while positively impacting many of Jamaica’s socio-economic challenges. Read more

    JMEA expresses concerns after release of import-export figures

    Jamaica Observer: Following the issuing of the Statistical Institute of Jamaica (STATIN) report on the state of the country’s imports and exports situation for the period January to September 2019, the Jamaica Manufacturers and Exporters Association (JMEA) has expressed its concerns at the figures. Read more

    Guatemala asks OAS to facilitate meeting with Government of Belize

    Breaking Belize News: Guаtеmаlаn mеdіа, Аgеnсіа Guаtеmаltеса dе Nоtісіаѕ rероrtеd thаt Guаtеmаlаn Рrеѕіdеnt, Аlејаndrо Gіаmmеttі hаѕ аѕkеd thе Оrgаnіzаtіоn оf Аmеrісаn Ѕtаtеѕ (ОАЅ) tо fасіlіtаtе а mееtіng wіth thе Gоvеrnmеnt оf Веlіzе.Ассоrdіng tо thе rероrt, thе mееtіng wіll bе tо рrоmоtе іntеrасtіоn аnd gооd rеlаtіоnѕ wіth Веlіzе іn оrdеr tо tаkе аdvаntаgе оf орроrtunіtіеѕ іn trаdе аnd tоurіѕm, аmоng оthеrѕ. Read more

    INTERNATIONAL NEWS

    Senate OKs North American Trade Deal To Replace NAFTA, Giving Trump A Much-Needed Win

    NPR: The Senate overwhelmingly approved a revised North American trade pact in a rare bipartisan vote Thursday that hands President Trump a victory on a key campaign promise just as lawmakers are preparing his impeachment trial. Read more

    U.S., EU, Japan agree new subsidy rules with China trade in focus

    Reuters: The United States, the European Union and Japan proposed new global trade rules on Tuesday to curb subsidies they say are distorting the worldwide economy, with China their clear target. Read more

    Mercosur braces for change amid calls for new trade rules

    Buenos Aires Times: Regional trade bloc faces uncertain future, with Argentina now in the minority and Uruguay and Brazil seeking the right to secure trade deals outside the bloc’s remit. Read more

    Mercosur summit in Paraguay will address a review of the external tariff

    Mercopress: The upcoming Summit of Heads of State of the Southern Common Market Mercosur, to be held in late June or early July this year, will be held in Encarnacion, capital of Itapúa Department, Paraguay. Read more

    With Brexit imminent, what are the chances of a UK trade deal with China?

    The Guardian: Last week, Donald Trump and Liu He, the Chinese vice-premier, signed phase one of a new trade arrangement between the US and China. The talks surrounding the agreement have been tortuous, leading to fears that the world could be caught up in a trade conflict between these two economic giants. Read more

    Trade Peace May Hurt Countries Left Out of U.S.-China Deal

    Bloomberg: President Donald Trump is set to sign his phase one trade accord with China on Wednesday and the public will finally get its first chance to look beneath the hood. A key question for other nations: How will China’s commitment to buy $200 billion worth of additional American goods and services impact their access to the world’s biggest economies? Read more

    Trade centers in regional countries to spur non-oil exports

    Tehran Times: To expand non-oil exports during the sanctions time, Iranian economic and trade organizations have been defining some strategies and resolved to pursue them vigorously. Read more

    Europe to assess whether US-China deal is WTO compatible

    Euractiv: The EU will assess whether a US-China deal to roll back some bilateral tariffs in exchange for increased US imports to China is compatible with World Trade Organisation rules, said Trade commissioner Phil Hogan on Thursday (16 January). Read more

    US-China trade rapprochement round one

    East Asia Forum: The conclusion of phase one of the trade negotiations between the United States and China has been welcomed by global markets because it has brushed off many uncertainties caused by the tense relationship between the world’s two largest economies over the past two years. Read more

    Brexit trade deals on the table at UK-Africa summit

    African Business Magazine: Organised by the UK’s Department for International Development (DFID), in partnership with Department of Trade (DIT), the Foreign and Commonwealth Office, (FCO) and the Department for Business, Energy and Industrial Strategy (BEIS), the one-day summit and side events are designed to seal UK-African business deals as the UK prepares to formally leave the European Union (EU) on 31 January. Read more

    UK channels aid budget as it seeks closer ties with Africa post-Brexit

    The Guardian: Britain has unveiled plans to channel part of the £14bn aid budget through the City as it seeks to exploit the global reach of the finance sector to boost investment in Africa. Read more

    BRICS: What’s in it for Africa?

    Africa.com: The BRICS group of emerging economies (made up of Brazil, Russia, India, China and South Africa) gather at the 5th annual BRICS summit in Durban, South Africa. It is the first time the summit is being held in Africa – and rightly so – as the theme for this year is BRICS and AFRICA: Partnership for Development, Integration and Industrialisation. State leaders of the five countries will be among at least 5,000 delegates at the two-day summit. Read more

    China’s trade with Africa grows 2.2 per cent in 2019 to US$208 billion

    South China Morning Post: Two-way trade grew by just 2.2 per cent in 2019 to US$208.7 billion, compared with a 20 per cent rise a year earlier, according to official figures from China’s General Administration of Customs. Read more

    Investment will overshadow trade in Japan-U.S. talks

    Japan Times: The Japan-U.S. Trade Agreement (JUSTA), the pinnacle for modern trade policy between the two allies, is now in force. Read more

    US tariffs on autos not mentioned in talks, EU trade chief says

    Deutsche Welle: In Washington to smooth out trade differences with the Trump administration, an EU commissioner said the subject of car tariffs did not come up. German carmakers will be happy to see the issue off the negotiating table. Read more

    UK treasury chief: Some businesses may hurt after Brexit

    The Associated Press: The British government has announced plans for special events on the night of Jan. 31 when the country officially leaves the European Union but the country’s treasury chief has admitted that some U.K. business sectors will suffer as a result. Read more

    U.K. Economy Won’t Stay Close to EU After Brexit, Javid Says

    Bloomberg: U.K. Chancellor of the Exchequer Sajid Javid signaled Britain is planning to shift its economy further away from the European Union’s, firing an early salvo in what’s set to be a fractious year in hammering out their future relationship. Read more

    Asean, RCEP trade partners unlikely beneficiaries from US-China trade war, Deloitte economist says

    South China Morning Post: An unexpected effect of the US-China trade war has been an apparent acceleration of the process to forge an Asian trading bloc that does not include United States, according to Deloitte China’s chief economist Xu Sitao. Read more

    India’s ‘door still open’ to RCEP free-trade deal: Foreign Minister Subrahmanyam Jaishankar

    South China Morning Post: More than two months after India pulled out of the Regional Comprehensive Economic Partnership (RCEP), Foreign Minister Subrahmanyam Jaishankar has suggested New Delhi could rethink its decision. 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 – January 1-11, 2020

    Caribbean Trade & Development News Digest – January 1-11, 2020

    Happy New Year! Welcome to our first Caribbean Trade & Development News Digest for the year 2020! We trust you all had an enjoyable holiday season! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world for the first two weeks of 2020!

    There will be much to watch in trade this year so we look forward to you following the developments with us from week to week.

    HIGHLIGHTS

    The beginning of the year saw US-Iran tensions hit a boiling point. These tensions have simmered somewhat, and oil prices, which rose but not as high as expected, have since lowered in light of the ease in tensions.

    Global growth is set to rise by 2.5% this year, a small increase from 2.4% in 2019, as trade and investment gradually recover. This is according to the World Bank’s semi-annual Global Economic Prospects released January 2020.

    Regionally, on January 1, 2020, Barbados’ Prime Minister the Hon. Mia Amor Mottley took over the chairmanship of the Caribbean Community (CARICOM) under that organisation’s rotating chairmanship system. Read more here.

    A three-day CARICOM workshop was held this to discuss World Trade Organization (WTO) issues. It was hosted by the SRC and WTI in Barbados and attended by ambassadors, technocrats and other high-level trade professionals.

    A significant oil discovery has been made offshore another CARICOM Member State. This time, it is Suriname. Read here. Also recall that Guyana is now an oil producing nation.

    REGIONAL NEWS

    Caricom raises external tariffs on pasta, cement

    Newsday TT: CARICOM’s Council for the Trade and Economic Development (COTED) has increased the common external tariff (CET) on pasta and cement for one year. It came into effect on January 1. Read more

    Food, drink labelling to change

    Barbados Today: Makers of packaged food and drink products may be required to have front-of-package nutrition labels by year end, Barbados TODAY has learned. But manufacturers are said to be concerned that having to revamp their labels could come at a major cost with business still slow in a tight economy. Read more

    Two faces of WTO emerge at meeting

    Barbados Today: Even as the world’s major economic powers abandon the global rules-based system in ongoing trade feuds, an international think tank’s advisor has urged officials here and in the region not to give up on the World Trade Organisation (WTO). Read more

    Walcott insists multilateral trade must benefit all

    Barbados Today: Multilateral trade must redound to the benefit of all, regardless of size. Minister of Foreign Affairs and Foreign Trade, Senator Dr Jerome Walcott, made this declaration at a three-day CARICOM workshop held to discuss World Trade Organization (WTO) issues at the Savannah Beach Hotel, recently. Read more

    Poultry investor halts $7-$8 million investment over WTO uncertainty

    Eyewitness News (Bahamas): A poultry investor said yesterday it has put ‘on hold’ its $7-$8 million investment until the government makes clear its position going forward on the World Trade Organization (WTO). Read more

    Guyana rice exports valued at more than US$200 million

    Jamaica Observer: The Guyana Rice Development Board (GRDB) said it recorded a 20 per cent increase in revenue after exporting more than half a million tonnes of paddy, rice and rice by-products last year. Read more

    CARICOM needs united voice on global issues

    Barbados Advocate: If it has not been done already, the Caribbean Community and Common Market (CARICOM) states have to devise a strategy for the global political and economic tensions and developments which continue to characterize the world in which we live. Read more

    CARICOM countries need to prepare for fallout of US and Iran situation

    St Lucia News Online: A sug­ges­tion that CARI­COM heads meet as soon as pos­si­ble, and come up with a strat­e­gy to deal with any pos­si­ble fall­out or dan­ger­ous sce­nar­ios, re­sult­ing from the re­cent dé­tente be­tween the Unit­ed States and Iran. Read more

    CARICOM heads chided for lack of sports investment

    Caribbean Life News: Caribbean heads of governments have been accused of not keeping pace with their sportsmen and women because the politicians are failing to provide facilities to support athletes consistent with their worldwide successes. Read more

    Will the EU care about the Caribbean after Brexit?

    The Voice: It’s not just Britain’s attitude towards its former colonies that may change with its geopolitical divorce. Lyndon Mukasa says the European Union’s position is also of growing interest. Read more

    UK expands its presence in Commonwealth countries

    Barbados Advocate: THE United Kingdom’s representation in the Commonwealth countries of the Eastern Caribbean has expanded over the last year. Read more

    Venezuela remains one of Guyana’s biggest rice buyers, despite no PetroCaribe deal

    Demerara Waves: Venezuela is Guyana’s biggest rice market, accounting for 34 percent or 177,682 tonnes of all that grain exported to several Latin American countries the Guyana Rice Development Board (GRDB) said in a statement. Read more

    INTERNATIONAL NEWS

    Oil rises as US-Iran conflict eases, focus turns to trade deal

    CNBC: Oil prices rose slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal which could boost economic growth and demand. Read more

    Brexit: MPs give final backing to Withdrawal Agreement Bill

    BBC: MPs have given their final backing to the bill that will implement the UK government’s Brexit deal. The Commons voted 330 to 231 in favour of the Withdrawal Agreement Bill and it will now pass to the House of Lords for further scrutiny next week. Read more

    Grassley pins blame for USMCA holdup on impeachment

    Politico: Senate Finance Chairman Chuck Grassley on Friday blamed House Speaker Nancy Pelosi for holding up passage of the new North American trade pact after she held off sending the articles of impeachment to the Senate. Read more

    IMO 2020: New Shipping Fuel Requirements Enter Into Force

    Hellenic shipping news: January 1, 2020 marked the implementation of the new sulphur oxide limit for shipping fuel imposed by the International Maritime Organisation under the MARPOL Convention, often referred to as IMO 2020. Read more

    US-China Trade War Seen as Boosting Vietnam Growth

    VoA: Vietnam has been a beneficiary of the China-U.S. trade war, enjoying a boost in services and exports that should drive economic growth to 7% this year, HSBC economist Yun Liu said last week. But she said the country remains vulnerable to economic risks including trade protection and inflation. Read more

    Brexit: EU ‘won’t be rushed’ on trade deal, says Simon Coveney

    BBC: The EU “will not be rushed” on a trade deal with the UK after Brexit, according to Ireland’s deputy PM. Boris Johnson says a deal can be agreed by the end of 2020 and has included a pledge in his Brexit bill not to extend any transition period to secure one. Read more

    Europe, Scotland and Brexit – what next?

    EU Observer: Last month’s UK general election will undoubtedly be remembered for the Conservative Party’s historic victory and the long-awaited clarity on Brexit. Yet the vote was not uniform across the UK. In Scotland, the Scottish National Party (SNP) secured an even more emphatic result, taking 47 of the nation’s 59 Westminster seats. Read more

    Here’s how the WTO can help address plastic pollution

    World Economic Forum: Trade plays a central role in plastic pollution and in the global plastics economy. Amid impressive and multiplying efforts across the globe to address plastic pollution, however, the relevance of trade to the production, consumption and disposal of plastics has been underestimated. Read more

    What to Expect in the January 2020 Session of UNCITRAL Working Group III on ISDS Reform

    IISD: In January 2020, Working Group III (WG III) of UNCITRAL will convene in Vienna to work on possible ISDS reform. 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 1-8, 2019

    Caribbean Trade & Development News Digest – December 1-8, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of December 1-8, 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

    This week, the World Trade Organization (WTO) Members agreed to a preliminary 2020 budget, but succumbed to US demands regarding funding for the Appellate Body. According to Bloomberg, “the deal limits annual spending for appellate body members to no more than 100,000 francs, an 87% reduction from the full allotment, and caps spending by the body’s operating fund to 100,000 francs, a 95% reduction.”

    This coming week is a big week for the WTO and global trade in general. All eyes will be on the General Council meeting on December 9-11, 2019. A draft proposal on changes to the beleaguered Appellate Body will be considered by the General Council in a last ditch effort to save the WTO’s appellate jurisdiction from becoming inoperable when the terms of two of its three remaining Members expire this week. Read about the crisis here.

    On another note, the US revised and resubmitted (again) its proposal on Special and Differential Treatment for General Council consideration. Read my note on it here.

    On the Brexit front, the UK is set to hold its general elections this week, December 12, 2019. In the US-China trade war, December 15 is the date the Trump Administration set for imposition of the next round of tariffs on Chinese goods. Will the tariffs be imposed or will they be postponed again? The world watches…

    REGIONAL NEWS

    PM Mottley accepts CARICOM office space in Nairobi, Kenya

    Barbados Today: Prime Minister Mia Mottley today accepted, on behalf of her regional colleagues, space in an ultra-modern business complex in Nairobi, Kenya to be the home of a joint diplomatic mission. Read more

    As impact of climate crisis worsens, Caribbean islands see six-fold increase in number of children displaced by storms, new UNICEF report shows

    UNICEF: The estimated number of children displaced by storms and flooding in the Caribbean islands* saw a six-fold increase in the past five years, a new UNICEF report said today. Read more

    UK Expanding Regional Presence: High Commissioner

    Barbados Advocate: The United Kingdom (UK) is expanding its presence in the Eastern Caribbean.Word of this comes from British High Commissioner to Barbados and the Eastern Caribbean Her Excellency Janet Douglas. Read more

    Belize/Taiwan finalizing trade agreement

    LoveFM: Among all the projects between Belize and The Republic of China (Taiwan), the two countries are now trying to finalize a new agreement. This agreement will help Belize in exporting more products, including sugar. Read more

    US ambassador shares priority list with AMCHAM executives

    Jamaica Observer: United States Ambassador to Jamaica, Donald Tapia has reiterated that cyber security, energy, and closer US-Jamaica trade links are some of the key areas on his priority list for Jamaica. Read more

    CARICOM works to increase cooperation with the European Union

    Prensa Latina: The Caribbean Community (CARICOM) is committed today to increasing trade and services cooperation with the European Union (EU), after 11 years of the CARIFORUM-EU Economic Partnership Agreement (EPA). Read more

    Jampro encourages local companies to use services

    Jamaica Observer: President of Jamaica Promotions Corporation (Jampro) Diane Edwards is encouraging local companies to take full advantage of Jampro’s range of services to drive investment and trade in Jamaica. Read more

    CLA licensees trade $84m in cannabis since May

    Jamaica Observer: For the period May to November this year, trading among Cannabis Licensing Authority (CLA) licensees has been valued at US$629,000 (J$84.2 million). Read more

    CARICOM Special Rapporteur wants more access for Persons with Disabilities

    The Montserrat Reporter: the Caribbean Community (CARICOM) Special Rapporteur on Disability, Dr. Floyd Morris, Tuesday reiterated a call for access for Persons with Disabilities as the region joined the global community in observing International Day of Disabled Persons. Read more

    20,000 CARICOM citizens await response on cheaper airfares

    Loop St Lucia: The petition to address high intra-regional travel taxes has been signed, sealed and delivered to all CARICOM Heads of Government. Read more

    INTERNATIONAL NEWS

    WTO Members Agree on a 2020 Budget, Averting Jan. 1 Shutdown

    Bloomberg: World Trade Organization members agreed to a preliminary 2020 budget, bowing to U.S. demands to choke off funding to the alliance’s appellate body. Read more

    WTO faces crisis over settlement disputes unless Trump backs off

    The Guardian: The World Trade Organization is set to plunge into the biggest crisis in its 25-year history later this week as the climax to a long-running and bitter dispute means the Geneva-based body will cease to be able to settle disputes between its member states. Read more

    WTO tries to grapple with existing caseload before critical date next week

    CBC: The World Trade Organization (WTO) battled on Tuesday over whether to bring its Appellate Body to an abrupt halt or allow its adjudicators to settle a handful of pending cases, according to trade officials present at a meeting on the subject. Read more

    RCEP countries must pay heed to India’s concerns

    Hindu Business Line: India’s doubts on issues like exports and its economic relations with China are genuine and crucial for growth. Only when these are resolved, should India consider joining the agreement again. Read more

    China exports fall again as US trade war continues

    BBC: China’s exports fell in November as shipments to the US slowed sharply, adding to concerns about the effects of the two nations’ trade war. Read more

    U.S. trade deficit shrinks sharply; labor market tight

    Reuters: The U.S. trade deficit dropped to its lowest level in nearly 1-1/2 years in October, suggesting trade could contribute to economic growth in the fourth quarter, though a broad decline in imports hinted at a slowdown in domestic demand. Read more

    Boris Johnson refuses to rule out leaving EU on WTO terms

    The Guardian: Boris Johnson has left the door open to coming out of the EU on World Trade Organization terms next year, after his foreign secretary, Dominic Raab, said it was “absolutely” right to keep a no-deal outcome on the table in trade talks. Read more

    WTO: 163 countries agree to make changes in rules governing trade dispute resolution

    Hindu Business Line: In an unusual development on Friday, 163 countries agreed to make comprehensive changes to the rules governing the resolution of trade disputes merely to placate one member — the US — for keeping the Appellate Body afloat, trade envoys said. Read more

    Drug protections to be rolled back in USMCA, Mexico says

    Washington Examiner: A top Mexican official has claimed that protections for biologic drugs are being rolled back in the pending trade deal being negotiated by the Trump administration, an apparent compromise that could attract Democratic support at the cost of the pharmaceutical industry. Read more

    AU urges greater intra-Africa trade

    Xinhua: The African Union (AU) on Tuesday stressed the need to unlock intra-Africa trade as only less than 20 percent of goods produced in Africa currently staying within the continent. Read more

    US vows 100% tariffs on French Champagne, cheese, handbags over digital tax

    Euractiv: The US government on Monday (2 November) said it may slap punitive duties of up to 100% on $2.4 billion in imports from France of Champagne, handbags, cheese and other products, after concluding that France’s new digital services tax would harm US tech companies. Read more

    We will ‘react as one’, EU tells US over French digital tax dispute

    Euractiv: The European Commission wants to settle the latest trade dispute with the US over the French digital tax “amicably” but warned that the bloc will “react as one” if Washington slaps tariffs on Paris. Read more

    EU-Ghana endorse market access offer and schedule under Economic Partnership Agreement

    EU: The second meeting of the EPA Committee under the Interim Economic Partnership Agreement (EPA) between Ghana and the EU was held in Brussels on 29th November 2019. Read more

    Apec must press on towards free trade area of the Asia-Pacific, says Chile’s president Sebastian Pinera

    Strait Times: Apec has to continue working towards its goal of a free trade area spanning the Pacific Ocean, the outgoing chairman of the regional grouping said on Saturday (Dec 7). Read more

    APEC pledges to further cooperation in Chile year’s closing meeting

    Xinhua: Members of the Asia-Pacific Economic Cooperation (APEC) pledged to further their cooperation at the APEC Concluding Senior Officials’ Meeting (CSOM) held here on Saturday. Read more

    STRAIGHT FROM THE WTO

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