Category: Trade Policy

Welcome to our Caribbean Trade and Development News Digest covering the week of June 19-25, 2022! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week. We do hope you enjoy this week’s edition!

THIS WEEK’S HIGHLIGHTS

This week Commonwealth Heads of Government met for the first time physically in four years in Kigali, Rwanda under the theme “Delivering a Common Future: Connecting, Innovating, Transforming”. They voted, albeit by a narrow margin, in favour of a second term for incumbent Secretary General Baroness Patricia Scotland. The final communique, leaders’ statement and other declarations can be accessed here.

UNCTAD has released a study on COVID-19 and trade and development, as well as the lessons learnt. Have a read of the report here. An agreement in principle was reached on a modernised Energy Charter Treaty.

So what’s happening this coming week? Leaders of the Group of 7 (G7) countries are currently meeting in Germany and have so far announced a ban on the importation of Russian gold as part of a tightening of sanctions against Russian aggression in Ukraine. On June 29th, the Trade Facilitation Agreement, the first major multilateral trade agreement agreed by WTO members, celebrates its fifth year anniversary.

This week I had the pleasure and honour of being a speaker at the Institute of Chartered Accountants of the Caribbean (ICAC) 39th Annual Conference speaking on the topic “COVID-19 and Businesses: Reflections, Impact and Options“. Read my latest blog article based on my presentation here.

REGIONAL NEWS

Belize Chamber BCCI President says Trade License Bill in current form is flawed

LoveFM: The Government of Belize has put its plan for national trade license reform on hold. This came after several sectors of society, including artists and DJs, complained that the proposed legislation was unfair and badly timed. Read more

China-Guyana, Bilateral Trade Increased To US$710 Million Last Year

MENAFN: China’s Ambassador to Guyana, Guo Haiyan, said Monday, that bilateral trade between Guyana and China has grown steadily in recent years, increasing to some US $710 million in 2021 compared to US $500 million during the previous years. Read more

Guyana local agro-processors to engage Antiguan buyers

Newsroom: Between 40 to 50 small agro-processors are expected to travel to Antigua soon to engage buyers, Vice President of the Guyana Manufacturing and Services Association (GMSA) Ramsay Ali has told the News Room. Read more

Bajans spent millions on Guyanese products at Agrofest

Newsroom: There was an overwhelming interest in the locally-made products at the recently concluded agro-fest in Barbados and Head of the Guyana Manufacturing and Services Association (GMSA) Rafeek Khan said that there is now a revitalised interest in improving transportation between the two countries. Read more

Britain thanks Windrush Caribbean migrants for their contribution to the UK

Caribbean National Weekly: Britain Wednesday paid tribute to Windrush Caribbean immigrants by unveiling a national monument to celebrate their work in rebuilding the country after World War II. Read more

UN SG to attend CARICOM Conference

Prensa Latina: The UN Secretary General, António Guterres, will travel next Friday to Paramaribo, Suriname, to participate in the conference of heads of government of the Caribbean Community (Caricom), they announced the eve. Read more

Barbados opens CARICOM diplomatic mission in Kenya

Caribbean National Weekly: Barbados Foreign Affairs and Foreign Trade Minister, Dr. Jerome Walcott, has officially opened the Caribbean Community (CARICOM) diplomatic mission in Nairobi making it the first for the 15-member regional integration movement on the African continent. Read more

Jamaica Tourism Minister Suggests Single-Visa Regime For CARICOM

JIS: Tourism Minister, Hon. Edmund Bartlett, says a single-visa regime among CARICOM member countries should be the next critical consideration in rationalising entry protocols in the region. Read more

Beyond CARICOM, Guyana registers hemispheric support for threats to food security

Newsroom: Guyana is leading an aggressive food security agenda within the Caribbean Community (CARICOM)- a 15-member bloc of Caribbean states, but amid growing concerns of food shortages, the country has backed similar efforts in the wider Americas. Read more

Cayman Islands Minister contemplating trade with Costa Rica, Belize and Honduras

LoopCayman: This scenario could change, however, as the Minister for Agriculture, Jay Ebanks, now has his eyes set on trading with more neighbours in the region, in particular, Honduras, Belize, Costa Rica and possibly Cuba. Read more

INTERNATIONAL NEWS

EU, UK win carve-out in Energy Charter Deal

Euractiv: Investments in new fossil fuel projects will no longer enjoy legal protection on EU and UK territories under a deal reached on Friday (24 June) to reform the 1994 Energy Charter Treaty. Read more

Commission unveils new approach to trade agreements to promote green and just growth

European Commission: In its Communication on “The power of trade partnerships: together for green and just economic growth”, the Commission is putting forward how to further strengthen the implementation and enforcement of Trade and Sustainable Development (TSD) chapters of the EU’s trade agreements. Read more

Food security: EU to step up its support to African, Caribbean and Pacific countries in response to Russia’s invasion of Ukraine

European Commission: The European Commission adopted today a proposal to mobilise €600 million from the reserves of the European Development Fund to address the current food security crisis aggravated by Russia’s invasion of Ukraine. These funds will support African, Caribbean and Pacific (ACP) countries to cope with the dire situation, through humanitarian assistance (€150 million), sustainable production and resilience of food systems (€350 million) and macro-economic support (€100 million). Read more

India, European Union resume talks for free trade agreement after over eight years

The Hindu: India and the European Union (EU) finally restarted the negotiations for the long-pending trade and investment agreement on Friday after a gap of over eight years. Read more

UK PM announces major trade initiatives to capitalise on Commonwealth Advantage

Gov.uk: The Prime Minister will announce a raft of new trade and investment initiatives to create jobs, growth and shared prosperity across the Commonwealth. Read more

UK appoints new trade commissioner to lead UK-Africa trade and investment relationship

Gov.uk: International Trade Secretary Anne-Marie Trevelyan has appointed John Humphrey as Her Majesty’s Trade Commissioner (HMTC) to Africa. Read more

Intra-Commonwealth trade to grow to $20 trillion in five years

The New Times: British Prime Minister Boris Johnson has commended the benefits from existing ties between Commonwealth countries and pointed out that intra-trade within the community is expected to grow by 50% to $19.5 trillion in the next five years. Read more

Rwanda: SG Launches Digital Trade Hackathon

AllAfrica: The Commonwealth Digital Trade Hackathon was launched Tuesday, June 21, at the end of the Commonwealth Youth Forum (CYF) in Kigali. Read more

USTR Tai calls U.S. tariffs on Chinese goods ‘significant’ leverage

Reuters: U.S. Trade Representative Katherine Tai on Wednesday said that she views tariffs on Chinese goods as “a significant piece of leverage” in the U.S.-China trade relationship and removing them would likely have a limited effect on controlling short-term inflation. Read more

US Farmers Welcome Indo-Pacific Economic Framework

Voice of America: Before the 2016 presidential election, Illinois farmer Brian Duncan looked to the Trans-Pacific Partnership (TPP) trade agreement between the United States and Asian countries, to boost demand for his crops, and in particular, prices for the thousands of hogs he raises annually. Read more

Russia and China are brewing up a challenge to dollar dominance by creating a new reserve currency

Business Insider: Russia is ready to develop a new global reserve currency alongside China and other BRICS nations, in a potential challenge to the dominance of the US dollar. Read more

In unstable times, Jacinda Ardern hopes European powers can avert further crises

Stuff.co.nz: New Zealand Prime Minister Jacinda Ardern will look to lock in a free trade agreement and push Western leaders to reduce the impacts of climate change in the Pacific in a series of meetings across Europe this week. Read more

STRAIGHT FROM THE WTO

• Madagascar launches safeguard investigation on dry pastries and breakfast cereals
• Madagascar launches safeguard investigation on plastic pipes and tubes and accessories
• Türkiye launches safeguard investigation on polyethylene terephthalate resin
• Türkiye launches safeguard investigation on terephthalic acid
• Türkiye launches safeguard investigation on "other paper and paperboard"

NEW ON THE CTLD BLOG

• CARICOM Releases Statement on Military Build-Up in Caribbean Sea
• Is CARICOM Complicit in the United States and Trinidad’s Unlawful Partnership?
• Trinidad’s Troubling Invitation of War to Caribbean Shores
• From Extractivism to Impact: What I learnt in Zambia
• Boosting island economies’ trade through education

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:

Welcome to our Caribbean Trade and Development News Digest covering the week of June 12-18, 2022! A happy Father’s Day to all CTLD Blog readers who are fathers and father figures! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week. We do hope you enjoy this week’s edition!

THIS WEEK’S HIGHLIGHTS

It has been a pretty nail-biting week in the world of trade. The biggest development, of course, is that the WTO’s Twelfth Ministerial Conference (MC12) after going into overtime was able to reach outcomes on a package of issues, informally dubbed the ‘Geneva Package’. While there was need for much compromise and some other key things have been left for future work, many commentators laud the outcomes, specifically because they give the WTO a shot of much needed success at a time of growing questions about the organisation’s continued relevance and effectiveness.

The existing e-commerce customs duties moratorium has been extended for two more years, while a TRIPS Waiver was finally agreed but on vaccine production only and for five years. Perhaps most significantly, the WTO has reached an agreement on disciplining fisheries subsidies. Although there have been reservations expressed about the ‘watered down’ nature of the fisheries subsidies agreement, it is only the second multilateral trade agreement concluded in the WTO’s 25-plus year history and has been dubbed, therefore, a needed win for the organisation.

Earlier this month, the Summit of the Americas 2022 saw the announcement of a US climate climate initiative for the Caribbean. Read Ambassador Ron Sanders’ commentary on the Summit here.

The Financial Action Task Force (FATF) held its June plenary. Barbados, Cayman Islands, Haiti, Jamaica remain among the countries listed on FATF’s grey list as of June 2022, while Malta has been removed from that list.

The COVID-19 pandemic and the fall-out from the Russia-Ukraine conflict continue to negatively impact global supply chains, leading to spiralling inflation and rising fuel costs. The Federal Reserve of the US has implemented the biggest interest rate hike since 1994 in an effort to cool the spiralling inflation and prevent a recession.

Finally, be sure to read this insightful article by guest contributor Lucius S.J. Doxerie examining the prospects of trade for promoting economic growth in Least developed countries here!

REGIONAL NEWS

Guyana tops list of Britain’s Caribbean trade partners

Stabroek: One of the more recent indicators of external perceptions of the state of health of the Guyana economy was reflected in the pronouncement by British High Commissioner to Guyana, Jane Miller, on Thursday July 2 that Guyana has now positioned itself as Britain’s top trade partner in the Caribbean. Read more

Caribbean and African Development Banks ink deal

Turks & Caicos Weekly: The Caribbean Development Bank and the African Development Bank have joined forces to promote trade between the regions and will work together on the sustainable development of MSMEs. Read more

CDB looking at an integrated logistics transportation system for the region

Barbados Today: The Caribbean Development Bank (CDB) says it is looking at “an integrated logistics transportation system” for the region which would focus on developing various aspects of infrastructure such as ports, roads, farms, storage, warehousing, and standards. Read more

Promoting sustainable fisheries trade in Eastern Caribbean

UNCTAD: Eastern Caribbean island nations Grenada, Saint Lucia, and Saint Vincent and the Grenadines have committed to a regional Blue BioTrade action plan to sustainably harvest and trade queen conch. Read more

Foreign direct investment to Latin America and the Caribbean rebounded by 56% in 2021

UNCTAD: Foreign direct investment (FDI) in Latin America and the Caribbean has rebounded from the pandemic-induced slump, growing by 56% to $134 billion in 2021, according to UNCTAD’ World Investment Report 2022 published on 9 June. Read more

FACT SHEET: Vice President Harris Launches the U.S.-Caribbean Partnership to Address the Climate Crisis 2030 (PACC 2030)

Whitehouse: Vice President Harris announced the U.S.-Caribbean Partnership to Address the Climate Crisis 2030 (PACC 2030). PACC 2030 is the Biden-Harris Administration’s new initiative involving fresh commitments to — and integration of — climate adaptation and resilience and clean energy programs across the Caribbean region. Read more

CARICOM trying to restore correspondent banking – Belize PM

Amandala: At the first official press conference held by the Prime Minister since his being elected into office in November 2020, Hon. John Briceño spoke on several foreign affairs issues concerning the country and the region, including correspondent banking. Read more

Colombia, CARICOM Countries Open Talks to Update Trade Agreement

Finance Colombia: Colombia and the CARICOM member countries (Caribbean Common Market) reported advances during an initial meeting held seeking to deepen the Partial Scope Agreement, in force since 1995. Read more

INTERNATIONAL NEWS

AfCFTA Positive On Intra-African Trade Levels-Survey

East Africa Business Week: For the third year running, the Pan-African Private Sector Trade and Investment Committee (PAFTRAC) have partnered with African Business magazine for the Africa CEO Trade Survey. Read more

WTO strikes global trade deals after ‘roller coaster’ talks

Reuters: The World Trade Organization agreed on the first change to global trading rules in years on Friday as well as a deal to boost the supply of COVID-19 vaccines in a series of pledges that were heavy on compromise. Read more

Commonwealth leaders set to meet for first time in four years

Commonwealth: Leaders from 54 countries will gather in Kigali, Rwanda, this week for the 2022 Commonwealth Heads of Government Meeting (CHOGM), the sixth time the event has been hosted by an African country. The week-long summit is expected to attract over 5,000 participants from government, business, and civil society under the theme ‘Delivering a Common Future: Connecting, Innovating, Transforming’. Read more

NI Protocol: UK reveals plans to ditch parts of EU Brexit deal

BBC: The UK government has published plans to get rid of parts of the post-Brexit deal it agreed with the EU in 2019.It wants to change the Northern Ireland Protocol to make it easier for some goods to flow from Great Britain to Northern Ireland. Read more

EU set to take legal action against UK over post-Brexit deal changes

BBC: The EU is expected to launch legal action against the UK government on Wednesday over its decision to scrap some post-Brexit trade arrangements. Ministers insist current checks on some goods travelling from Great Britain to Northern Ireland must end to avoid harm to the peace process. Read more

EU refuses to rule out suspending Brexit trade deal

Euronews: The European Commission won’t rule out suspending the EU-UK trade deal if the UK approves a draft bill that unilaterally overrides parts of the Brexit agreement. Read more

European Commission backs Ukraine for EU candidate status

Al Jazeera: Commission gives a fast-tracked opinion on membership of the bloc before a summit of EU leaders on June 23-24. Read more

EU signs gas deal with Israel and Egypt

Al Jazeera: The European Union, Israel and Egypt have signed a tripartite natural gas export deal as the bloc seeks to diversify away from Russian energy. Read more

STRAIGHT FROM THE WTO

• Madagascar launches safeguard investigation on dry pastries and breakfast cereals
• Madagascar launches safeguard investigation on plastic pipes and tubes and accessories
• Türkiye launches safeguard investigation on polyethylene terephthalate resin
• Türkiye launches safeguard investigation on terephthalic acid
• Türkiye launches safeguard investigation on "other paper and paperboard"

NEW ON THE CTLD BLOG

• CARICOM Releases Statement on Military Build-Up in Caribbean Sea
• Is CARICOM Complicit in the United States and Trinidad’s Unlawful Partnership?
• Trinidad’s Troubling Invitation of War to Caribbean Shores
• From Extractivism to Impact: What I learnt in Zambia
• Boosting island economies’ trade through education

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:

Welcome to our Caribbean Trade and Development News Digest covering the week of February 28-March 5, 2022! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week. We do hope you enjoy this week’s edition!

THIS WEEK’S HIGHLIGHTS

As the unprovoked Russian invasion of Ukraine intensifies, western countries have stepped up their economic and financial sanctions of Russia. Canada suspended MFN treatment of imports from Russia and its ally Belarus, while the EU announced it is considering similar actions against Russia. Additionally, as Bloomberg’s Bryce Baschuk tweeted, “the US and EU suspended Russia from participating in activities of the developed countries coordinating group”. The invasion and the concomitant sanctions are already having ripple effects. IMF First Deputy Managing Director Gita Gopinath noted “cost of living is expected to rise sharply in many countries as energy and food prices skyrocket”. Read here.

The WTO’s fourth review of Guyana’s trade policies and practices took place on 2 and 4 March 2022. The basis for the review is a report by the WTO Secretariat and a report by the Government of Guyana. Read more here.

Caribbean Community (CARICOM) Heads of Government held their 33rd Inter-sessional meeting in Belize this week. The communique from the meeting may be accessed here. The Caribbean Court of Justice (CCJ) also dismissed an application by Rock Hard Cement challenging Trinidad & Tobago’s decision to raise the price of imported cement.

My latest article “Do Caribbean countries International Investment Agreements help or hurt their climate action” was published in the Caribbean Studies Association (CSA) newsletter. Read it here.

REGIONAL NEWS

CARICOM leaders agree to review decision-making process

Stabroek: With CARICOM long accused of moving too slowly in implementing the Single Market and Economy (CSME), regional leaders have now agreed to modify the way decisions are taken in an effort to be more proactive. Read more

CARICOM Heads concerned about UK backed Inquiry into the BVI

Jamaica Observer: Caribbean Community (Caricom) leaders have expressed “deep concern” with the United Kingdom-backed Commission of Inquiry into allegations of corruption in the British Virgin Islands (BVI), listing among their concerns the “lack of transparency.” Read more

CARICOM SG wants improved intra-regional trade by 2025

BarbadosToday: Caribbean Community (CARICOM) Secretary General, Dr. Carla Barnett has called on regional countries to improve intra-regional trade by 25 per cent by 2025 as she urged regional leaders to ensure that the CARICOM Single Market and Economy (CSME) functions for the benefit of the people of the Caribbean. Read more

‘No threat to Guyana’s local content law’ – Pres. Ali

Newsroom Guyana: Heads of Government of the Caribbean Community (CARICOM) will discuss acceptable local content provisions, particularly for new industries, but President Dr. Irfaan Ali is certain that these discussions pose no threat to Guyana’s historic Local Content law. Read more

CARICOM to review and examine local content issue in relation to CSME

News Source Guyana: When the Government of Guyana took the local content legislation to the National Assembly for debate and passage, the Opposition while supporting the legislation, raised concern about whether some sections of the legislation went against the CARICOM Treaty of Chaguaramas which provides for the free movement of goods, labour, capital and the rights of establishment in the CARICOM Single Market. Read more

SVG signs MOU with Caribbean private sector organisation to boost investments in agriculture

Searchlight: The CARICOM Private Sector Organization (CPSO) and this country’s Ministry of Agriculture, have entered a Memorandum of Understanding (MOU) that establishes a formal, structured mechanism for substantive and effective cooperation between the Government of St. Vincent and the Grenadines (SVG) and the CPSO for mobilising and facilitating private sector investments in strategic sectors of SVG. Read more

INTERNATIONAL NEWS

WTO to host Global Supply Chains Forum to explore ways of easing disruptions to trade

WTO: The WTO will bring together on 21 March stakeholders from every part of global supply chains to share perspectives on the causes of continued supply chain disruptions and to work together on ways to mitigate their impact on global trade and post-pandemic economic recovery. The forum will be opened by Director-General Ngozi Okonjo-Iweala and will be attended by WTO members and representatives from shipping, trading and logistics companies. It will be held virtually, with livestreaming available on the WTO website. Read more

Canada cuts Russia and Belarus from Most-Favoured-Nation Tariff treatment

Canada.ca: Russia’s invasion of Ukraine, supported by Belarus, is a violation of international law and threat to the rules-based international order. Canada is taking further action to ensure those who do not support the rules-based international order cannot benefit from it. Read more

EU considers suspending equal treatment for Russia at the WTO

Reuters: The European Union said it waslooking into suspending ‘most-favoured nation’ (MFN) treatment for Russia at the World Trade Organization over Moscow’s invasion of Ukraine, meaning the bloc would be able to hike tariffs or set quotas on Russian imports. Read more

Ukraine introduces export licenses for key agricultural commodities

Financial Post: Ukraine has introduced export licenses for agriculture commodities wheat, corn and sunflower oil, Interfax Ukraine news agency quoted a government resolution as saying on Sunday. Read more

Africa: China-Africa Trade Reaches All-Time High in 2021 … Showing Resilience Amid Pandemic

AllAfrica: China-Africa trade has bucked the global economic downward trendand analysts believe it has contributed to the African economy’s resilience in the face of COVID-19 challenges. Read more

Under-reporting of AfCFTA detrimental to investments – report

Business Day (Nigeria): Despite the opportunities the African Continental Free Trade Area(AfCFTA) presents, its coverage in terms of business news and analysis is under-reported and this is detrimental to investments, the latest Business in Africa Narrative Report says. Read more

UK considers using Brexit ‘freedom’ to allow pesticides banned in EU on food

Independent (UK): The government is considering using its new Brexit regulatory freedom to allow pesticides banned in the EU on food imported to the UK. Read more

NEW ON THE CTLD BLOG

• CARICOM Releases Statement on Military Build-Up in Caribbean Sea
• Is CARICOM Complicit in the United States and Trinidad’s Unlawful Partnership?
• Trinidad’s Troubling Invitation of War to Caribbean Shores
• From Extractivism to Impact: What I learnt in Zambia
• Boosting island economies’ trade through education

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:

Welcome to our Caribbean Trade and Development News Digest covering the week of February 20-26, 2022! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week. We do hope you enjoy this week’s edition!

THIS WEEK’S HIGHLIGHTS

One of the biggest news developments this week was the announcement that the long overdue 12th Ministerial Conference of the World Trade Organization, after successive postponements due to the COVID-19 pandemic, will be held the week of June 13 in Geneva, Switzerland. Read more here.

CARICOM countries signed the St George’s Declaration – Towards the Reduction of Intra CARICOM Roaming Charges with two of the telecommunication providers in the Caribbean. Read more here

Coming up this week will be the 33rd Inter-sessional meeting of the CARICOM Heads of Government. Read more here.

REGIONAL NEWS

CARIFORUM talks trade

Barbados Today: Trade between the Caribbean Community (CARICOM) and the European Union (EU) remains a top priority, officials from the EU Commission have assured. Read more

Ukraine Crisis | Russian invasion on agenda for CARICOM meeting

Jamaica Gleaner: Foreign Affairs and Foreign Trade Minister Kamina Johnson-Smith has indicated that Russian military action is on the agenda for discussion at the upcoming CARICOM heads of government meeting. Read more

PM Briceno Comments on the Upcoming SICA-CARICOM Joint Summit

LoveFM: Hundreds of leaders and officials are expected to land on Ambergris Caye next week for the SICA-CARICOM Joint Summit. It is a 3-day event that Belize is hosting. Prime Minister John Briceno told Love News that such a meeting is way overdue and will serve to strengthen relations in trade and other aspects. Read more

DR begins building border wall with Haiti

Barbados Today: The Dominican government on Sunday began building a wall that will cover almost half of the 392-kilometre (244 miles) border with Haiti, its only land neighbor, to stop irregular migration and the smuggling of goods, weapons and drugs. Read more

The many questions of governance in the metaverse

Newsday: It was clear from the start of the conversation about the role of governance and national sovereignty in the metaverse, that there were far more questions than answers. Read more

St. Kitts & Nevis to ban single use plastics

Travel Pulse: St. Kitts and Nevis, the two-island nation that is quickly becoming a popular Caribbean cruise destination, has announced plans to ban single-use plastics in the near future. Read more

INTERNATIONAL NEWS

WTO chairpersons for 2022

The WTO General Council, on 24 February 2022, noted the consensus on a slate of names of chairpersons for WTO bodies. Read more

Members updated on progress to further integrate small economies into world trading system

WTO: At the General Council meeting of 23 February 2022, the Chair of the Committee on Trade and Development (CTD), Ambassador Muhammad Mujtaba Piracha of Pakistan, outlined his efforts in working with members to advance the discussions under the WTO’s Work Programme on Small Economies. Read more

UK and Singapore sign new innovative digital trade deal

Gov.uk: The International Trade Secretary lands in Singapore to sign a groundbreaking digital trade deal. Read more

Global disruptions to trade about to get worse

Bloomberg: With Russia’s invasion of Ukraine early Thursday, energy costs are soaring, stocks are plunging, Western sanctions are being sharpened, and central bankers already worried about inflation face additional drags from weaker consumer confidence and bigger potential shocks to fragile European economies. Read more

West to cut some Russian banks off from Swift

BBC: The EU, US and their allies have agreed to cut off a number of Russian banks from the main international payment system, Swift. Read more

White House Lays Out Broad Changes to Address Supply-Chain Shortfalls

Wall Street Journal: The administration says ‘we need to have some ambition’ with measures aimed at improving the flow of goods over the long term. Read more

NEW ON THE CTLD BLOG

• CARICOM Releases Statement on Military Build-Up in Caribbean Sea
• Is CARICOM Complicit in the United States and Trinidad’s Unlawful Partnership?
• Trinidad’s Troubling Invitation of War to Caribbean Shores
• From Extractivism to Impact: What I learnt in Zambia
• Boosting island economies’ trade through education

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: