Caribbean Trade Law and Development

Category: trade news

  • 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:

  • 10 Trade Policy Developments to watch in 2020

    10 Trade Policy Developments to watch in 2020

    Alicia Nicholls

    Happy New Year! It is both a new year and a new decade, but several stories we were following in 2019 have spilled over into 2020. 2019 started off as a year of uncertainty and volatility with increased trade restrictive measures and slowing global merchandise trade growth and foreign direct investment (FDI) flows.

    Towards the end of 2019 some positive developments occurred and so 2020 does present some potential bright spots, such as the likely ratification of the US-Mexico-Canada (USMCA) Agreement, a now definitive date for Brexit and what appears to be an initial US/China deal.

    There are many things which are likely to impact global trade in 2020, including geopolitical developments, technological advancements, data privacy rules, climate change and the growing demand for more environmentally-friendly goods and services. All of these have the potential to either positively or negatively impact, inter alia, freight rates, supply chains and firms’ import, export and investment decisions, and on a wider scale, the global economy.

    While this is not meant to be an exhaustive list, here are the top ten trade developments we will be watching in 2020:

    1. WTO Reform

    The WTO is celebrating its 25th year of existence, but is also facing several challenges which threaten to undermine some seventy years of a rules-based multilateral trading system. Key this year to watch will be whether there will be a solution to the now defunct Appellate Body, and whether there will finally be a conclusion to the fisheries subsidies negotiations which again failed to yield an agreement last year. The US also continues to argue for a revamping of the current system of eligibility for Special & Differential Treatment. The 12th WTO Ministerial Conference will be held in Nur-Sultan, Kazahstan in June 2020, and will therefore be one of the organisation’s most important ministerial meetings to watch.

    2. Brexit

    After several missed deadlines for leaving the European Union (EU), the decisive victory handed to the Conservatives in the December 12, 2019 snap United Kingdom (UK) election meant that Prime Minister Boris Johnson was able to get parliamentary approval of his deal with the EU. The UK is now on track to leave the current 28-member grouping on January 31, 2020. Some political and economic uncertainty remains, however, especially with the stronger electoral performance of the Scottish National Party (SNP). Will the Scottish opposition to leaving the EU undermine the unity of the UK and will there be yet another Scottish independence referendum? What kind of post-Brexit trade agreement will the UK and EU eventually negotiate?  

    3. Trade Wars: US/China and Japan/South Korea

    After a year of continued touch and go negotiations and escalating tensions between the US and China, a ‘Phase One’ trade deal, which was announced in December 2019, will be signed January 15, 2020. The text of the Agreement has not yet been released, but it reportedly contains chapters on intellectual property, technology transfer, agriculture, financial services, unfair currency practices, trade expansion and dispute resolution. Under the agreement, China has agreed to increase imports from the US, and the US has deferred implementing the List 4B Section 301 tariffs which were to have come into effect on December 15, 2019 and decreased some of the List 4A tariffs.

    Receiving much less attention is the Japan-South Korea trade tensions which escalated in summer 2019 with fears that it could have harmed the global economy. The two Asian economic behemoths have had a challenging political history, but tensions flared up in July 2019 when Japan restricted the export of three chemicals (fluorinated polyamides, photoresists, and hydrogen fluoride) to South Korea. Japan is the major exporter of these chemicals which are needed in the production of semi-conductors and display screens – top export products for South Korea. Senior-level negotiations between the two countries were held in December and there appears to be some de-escalation in tensions.

    4. US Presidential Election

    Without doubt, the inauguration of President Donald Trump in 2017 saw a radical shift in the US’ trade and foreign policy. At this stage, it is unclear who the democratic nominee will be. However, trade policy is likely to be a major issue in the US election campaign, and even among the current democratic contenders there are some differences in their approaches to trade policy.

    What is certain, however, is that a Trump re-election in November 2020 would entail four more years of economic nationalism, a continued retreat from multilateralism, undermining of the rules-based multilateral trading system, and climate change denial.

    4. Regional Trade Agreements: USMCA, RCEP and AfCFTA

    After much uncertainty about the fate of the US-Mexico-Canada Agreement (USMCA) – the agreement which seeks to update and replace the NAFTA – a revised agreement was eventually signed in December 2019. It will need to be ratified by each of three parties in order to enter into force.

    Another agreement to watch will be the Regional Comprehensive Economic Partnership (RCEP) whose negotiations began in 2012. At the Bangkok Summit in November 2019, it was announced that the text has been agreed. Although India pulled out of the RCEP negotiations, it appears that the remaining fifteen parties are on track to sign the Agreement in 2020.

    Phase II negotiations on the operationalisation of the Africa Continental Free Trade Agreement (AfCFTA) will begin in 2020 and will focus on investment, competition policy and intellectual property.

    5. IMO shipping fuel standards

    The United Nations International Maritime Organisation (IMO) Low Sulphur Regulation comes into effect January 1, 2020. From this date, the IMO requires all shipping companies to reduce their sulphur emissions by 85%. The sulphur in fuel oil must be reduced to 0,50 from 3,50% for all sea-going vessels. This is an important move for reducing shipping emissions, although concerns have been raised about the possible freight rate increases.

    6. ACP-EU Post-Cotonou Negotiations

    The Cotonou Agreement – the partnership agreement which sets the framework for cooperation between the European Union (EU) on the one hand, and the countries of the ACP (renamed to the Organisation of the African, Caribbean and Pacific Group of States (OACPS) – is due to expire in 2020. The Cotonou Agreement was signed in 2000 and revised in 2010. Negotiations on a successor agreement will continue into 2020.

    7. Second Review of the EU-CARIFORUM EPA

    2020 would make it twelve years since the EU-CARIFORUM EPA has been provisionally applied between the EU and CARIFORUM countries. The second review on the implementation and impact of the EPA is currently on-going and consultations were held in 2019. The first EPA review in 2014 found that the EPA had not led to a significant increase in CARIFORUM exports to the EU, and there was still implementation work to be still done on both ends. The results of the second review will be important to gauging what additional progress has been made.

    8. Pending CCJ Advisory Opinion on freedom of movement

    The Caribbean Court of Justice (CCJ) will this year deliver its first advisory opinion pursuant to Article 212 of the Revised Treaty of Chaguaramas (RTC) on the circumstances under which it is lawful for CARICOM Member States to “opt-out” of CARICOM Heads of Government decisions that involve fundamental objectives of the Community. Last year the Court held a two-day hearing where it heard oral submissions. The ruling will be critical to clarifying Community law on opt-outs.

    9. UNCTAD XV – October 2020

    All eyes will be on Barbados and the United Arab Emirates in October 2020 when the two nations will co-host the UNCTAD XV quadrennial. This will be a good opportunity for Barbados to help influence the trade and development agenda for the next four years, highlighting issues such as climate change and small States issues.

    10. COP26 Climate Talks

    2020 is a ‘make or break’ year for climate action. By most measures, the UNFCCC COP25 was a disappointment despite being the longest UN climate talks on record. Agreement on Paris Agreement Article 6 (carbon markets) and common timeframes, for instance, remains elusive and has been pushed back again to COP26. It should be noted that 2020 is the year when parties are expected to undertake their first global stocktake under the Paris Agreement and ratchet up their climate ambition by submitting more ambitious nationally determined contributions (NDCs). Climate change both impacts and is impacted by trade. As such, these talks will be key to follow.

    As usual, we at the CTLD Blog will be monitoring these developments. We welcome you to follow them with us by reading our weekly Caribbean Trade & Development News Digests. You can subscribe here to receive the mailings directly to your inbox:

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

    DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.

  • 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

    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

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