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  • Caribbean Trade and Development Digest – October 22-28, 2017

    Caribbean Trade and Development Digest – October 22-28, 2017

    Welcome to the Caribbean Trade and Development Digest for the week of October 22-28, 2017! We are pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World. We hope you enjoy this edition.

    REGIONAL

    Rowley talks trade with Mexico at CARICOM Summit

    Trinidad Express: According to a statement from the Office of the Prime Minister, Rowley has asked Mexican President Enrique Pena Nieto to immediately consider the development and implementation of a partial scope trade agreement which will allow Trinidad and Tobago manufactured goods access to the Mexican market. Read more

    Get cracking: EU wants region to get to work on CSME; EPA

    Barbados Today: Barbados and its Caribbean Community (CARICOM) neighbours have been told to get cracking on the Caribbean Community (CARICOM) Single Market and Economy (CSME) and the Economic Partnership Agreement (EPA) with Europe. Read more

    South Africa set to boost trade with Cuba

    allAfrica: The upcoming Havana International Fair will further advance relations between South Africa and Cuba, says Trade and Industry Deputy Minister Bulelani Mangwanishe. Read more

    Haiti-DR. Towards a border resident card to facilitate trade?

    Haiti Libre: Director of the National Institute of Migration (INM) of the Dominican Republic encourages the Directorate General of Migration (DGM) to create a border resident card, which would facilitate the movement of people who depend on binational trade in areas border with Haiti. Read more

    India eyes trade deals with Central American, Caribbean Countries

    Times of India: India is looking to expand its trade footprint in America with initial discussions initiated in the government for a possible free trade agreement (FTA) with Caribbean and Central American countries and a logistics hub in Panama to help shipment of goods. Read more

    China, Cuba sign agreements to expand economic, trade ties

    China Daily: China and Cuba on Wednesday signed five cooperation and legal agreements, which reaffirm the willingness of both nations to strengthen and expand their economic and trade relations. Read more

    Mexican President and CARICOM meet in Belize

    Amandala: Oct. 26, 2017–Belize hosted a historic meeting between heads of government of CARICOM and the president of Mexico, Enrique Peña Nieto at the Best Western Belize Biltmore Plaza on Wednesday, October 25, 2017. Read more

    Mexico gives USD$14 million to CCRIF

    The Reporter: The Government of Mexico will contribute $14 Million to the CARICOM Catastrophe Risk Insurance Fund (CCRIF), Mexico’s President, Enrique Peña Nieto confirmed at the IV CARICOM-Mexico Summit. Read more

    CARICOM should seek to deepen ties with BRICS

    Stabroek: An opinion piece by a staff writer at Stabroek. Read more

    Barbados and Italy Double Taxation Agreement enters into force

    Nation News: The Double Taxation Agreement (DTA) between the Government of Barbados and the Italian Republic has entered into force in accordance with Article 30 of the Agreement. Read more

    INTERNATIONAL

    UK, EU send proposal to rest of WTO

    Reuters: Britain and the European Commission formally told other members of the World Trade Organization on Wednesday how they plan to split up the European Union’s WTO-agreed tariff quotas and farm subsidies after Brexit. Read more

    Turkey, Pakistan finalise free trade agreement talks

    Xinhua: Turkey and Pakistan have finalized negotiations on free trade agreement (FTA), and wished to sign the deal as soon as possible, Turkish Customs and Trade Minister Bulent Tufenkci said on Friday. Read more

    NAFTA Uncertainty already hurting growth, Bank of Canada says

    Bloomberg: Uncertainty about U.S. trade policy will reduce investment growth by 0.7 percentage points and export growth by 0.2 percentage points in both 2017 and 2018, according to projections in the Bank of Canada’s quarterly Monetary Policy Report, released Tuesday in Ottawa. Read more

    Infrastructure deficit remains major challenge to intra-Africa trade: ECA

    Xinhua: The Economic Commission for Africa (ECA) has reiterated that infrastructure deficit in Africa remains a major challenge to trade facilitation, intra-regional trade as well as economic development and transformation on the continent. Read more

    Trudeau dismisses concerns free trade with China will hurt Canada-US relationship

    CBC: Prime Minister Justin Trudeau said strengthening trade ties with China does not put the Canada-U.S. relationship at risk, shrugging off concerns raised Thursday by a member of his NAFTA advisory council. Read more

    PM Lee urges the US to uphold free trade and sustain economic ties with Asia

    Today Online: The United States’ relations with Asia has not “been turned upside down” despite the different approach taken by the Trump administration on some issues, said Prime Minister Lee Hsien Loong in urging Washington to uphold free trade and sustain economic engagement with the region. Read more

    RCEP deal unlikely this year, says South Korea official

    Nikkei Asian Review: An agreement to create a free trade zone among 16 countries in the Asia-Pacific region, including China, Japan, India and South Korea, is not expected before the end of the year, said a South Korean representative in charge of the negotiations on Friday. Read more

    WTO issues compliance panel reports on revised US “dolphin-safe” tuna labelling measure

    WTO: On 26 October the WTO issued the panel reports in the cases brought by the United States and Mexico in “United States – Measures Concerning the Importation, Marketing and Sale of Tuna and Tuna Products – Recourse to Article 21.5 of the DSU by the United States” and “United States – Measures Concerning the Importation, Marketing and Sale of Tuna and Tuna Products – Second Recourse to Article 21.5 of the DSU by Mexico” (DS381). Read more

    Canada in bid to limit Brazil aircraft subsidy probe at WTO

    Reuters: Canada has urged the World Trade Organisation to block attempts by Brazil to trigger a detailed investigation of its aerospace industry to buttress its case that subsidies to Bombardier caused “serious prejudice” to Brazil’s Embraer. Read more

    Move to introduce ‘gender inclusivity’ in the WTO

    The Hindu Business Line: Waking up to the need to enable more women to participate in international trade, the World Trade Organisation (WTO) and a group of member countries are making efforts to get a joint declaration on gender and trade to be adopted at the Buenos Aires Ministerial meet in December. Read more

    Colombia looks to expand free trade deals with Pacific region countries

    The City Paper (Bogota): Colombia wants its share of the Asia Pacific trade pie as it joins the three other member nations of the Pacific Alliance (Chile, Peru and Mexico) in free trade talks with Australia, New Zealand and Singapore. Read more

    Germany, UK will gain the most from an India-EU free trade deal

    The Hindu Business Line: Germany and the UK will witness the highest absolute gains if the proposed Free Trade Agreement (FTA) between India and the European Union (EU) is concluded, states a study conducted by the Bertelsmann Stiftung of Germany. Read more

    Former WTO boss warns Brexit trade agreement could take seven years

    The Express: A FORMER World Trade Organisation (WTO) Director-General warned that Britain’s worst option post-Brexit would be to trade under WTO rules, amid claims that Britain is preparing for Brexit talks to fail. Read more

    ‘Decision on fishing subsidies certain in WTO’s Dec meet’

    The Hindu: An agreement on elimination of ‘harmful’ fisheries subsidies is likely to be the only major outcome at the forthcoming meeting of the World Trade Organisation’s (WTO) highest decision-making body called the ‘Ministerial Conference’. Read more

    European Parliament votes for trade deal with New Zealand

    Radio New Zealand: The European Parliament has voted to press ahead with plans to do a trade deal with New Zealand. Read more

    Liked this issue? To read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.

  • Mexico and CARICOM agree new areas for technical cooperation

    Mexico and CARICOM agree new areas for technical cooperation

    Photo credit: Pixabay

    Alicia Nicholls

    Caribbean Community (CARICOM) countries and the Government of Mexico have approved the seventh Mexico-CARICOM Technical Cooperation Programme (2017-2019). This was one of the main outcomes of the Fourth CARICOM-Mexico Summit held this week on October 25, in Belize City, Belize. Hailed as “a new paradigm” in cooperation between CARICOM and the Government of Mexico, the new programme will include both existing and new priority areas for development cooperation which align with those identified in the CARICOM Strategic Plan 2015-2019 and the global development agenda.

    Mexico and CARICOM have enjoyed four decades of diplomatic cooperation and friendship.  At the Third Mexico-CARICOM Summit in 2014 President of Mexico, His Excellency Enrique Pena Nieto had pledged his Government’s desire to build on and deepen those ties.

    The discussions at  Wednesday’s summit touched on several areas of cooperation, including trade and investment, public health, education, cultural cooperation, technical assistance, and cooperation on the global development agenda. A member country of the Organisation for Economic Co-operation and Development (OECD), Mexico has the world’s eleventh largest economy according to International Monetary Fund (IMF) forecast data for 2017. This makes Mexico a potentially powerful voice and ally on international issues of interest to the Caribbean, including climate action,  de-risking and the need for multilateral financial institutions to revisit graduation criteria for official development assistance.

    Disaster risk management was a major focus of the talks, as CARICOM countries and Mexico have both suffered significantly at the hands of natural disasters this year. Powerful hurricanes Irma and Maria caused major loss of life and damage in several Caribbean Islands, most tragically in Barbuda and Dominica. In September as well, Mexico was struck by Hurricane Katia around the same time that it was reeling from two devastatingly strong earthquakes within a two week span which claimed over 200 lives.

    In addition to pledging their continued support for the Paris Climate Change Agreement, the CARICOM and Mexico heads of government/State agreed to a Mexico-CARICOM Strategy for Comprehensive Disaster Risk Management which, according to the summit’s official declaration, will comprise the following three main lines of work:

    1. strengthening initiatives already in place
    2. developing a complementary cooperation agenda, such as early warning, awareness raising, emergency response, among others
    3. joint action in multilateral fora and international mobilization to further strengthen and support Caribbean institutional capabilities for disaster risk management

    The Mexican Government also made a US14 million grant to the Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC), a regional catastrophe fund formed in 2007 and which has had to pay out about US$50.7 million since the start of the 2017 Atlantic hurricane season alone!

    They have also agreed to support the establishment of a hydrometeorological monitoring centre for the Caribbean region and to collaborate to ensure  the success of the CARICOM-hosted International Donor Conference planned for November 21, 2017 at the UN Headquarters, New York. This conference will seek to mobilise assistance for those hurricane-struck Caribbean islands.

    The Government of Mexico has also offered 150 scholarships for training Caribbean teachers of Spanish as a second language. This would assist in reducing the language barrier which would be one of the impediments for CARICOM exporters seeking to enter the Mexican market. According to data quoted in the CARICOM press release before the meeting, “between 2012 and 2016, imports from Mexico to CARICOM exceeded exports from CARICOM to Mexico, with Jamaica, Trinidad and Tobago, Belize, Barbados and Guyana being the main importing countries, accounting for 95 % of imports from Mexico between 2014 and 2016”.

    The Joint Declaration of the CARICOM-Mexico Summit may be accessed here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is a 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.

  • ACP Trade Ministers demand ‘concrete outcomes’ at upcoming WTO MC11

    ACP Trade Ministers demand ‘concrete outcomes’ at upcoming WTO MC11

    Alicia Nicholls

    Trade ministers and other representatives from the 79-member Africa, Caribbean and Pacific (ACP) countries added their voices to demands for ‘concrete outcomes’ at the upcoming World Trade Organisation’s Eleventh Ministerial Conference (WTO MC11). Preparations for the upcoming WTO MC11 was one of several topics discussed by ACP trade representatives at their 20th ACP Ministerial Trade Committee meeting held in Brussels on 18-19 October last week.

    According to the press release from the meeting, the ACP representatives  reiterated the need for a development-friendly and robust MC11 work programme which recognized differences between developed, developing and least developed countries and whose outcomes were aligned with the Sustainable Development Goals (SDGs).

    Reaffirming their commitment to the multilateral trading system, they also called for “inclusiveness, consensus and transparency in all WTO decision-making processes, as well as careful framing of any reform evaluation of the WTO to ensure that the interests of all countries are protected”. Guyana was chosen to be the spokesperson for the ACP Group at the Ministerial which will take place in Buenos Aires December 10-13, 2017.

    In a speech delivered at the ACP meeting, the WTO’s Director General, Roberto Azevedo, acknowledged the important role ACP countries have played in shaping the WTO’s work.

    Mr. Azevedo gave a brief status report on the WTO’s preparatory work for the upcoming Ministerial Conference, lauding the ACP countries for being at the “forefront” of these discussions. He noted that although there were some positive signs, the many gaps to bridge meant that there was still much work ahead with respect to the negotiations.  He further reiterated that in order to achieve concrete results in Buenos Aires, “more focused engagement and negotiation will be required to quickly identify areas of convergence”.

    In the meeting which was chaired by the Hon. Carl Greenidge, Vice President and Minister of Foreign Affairs of the Cooperative Republic of Guyana, ACP trade representatives also focused on several  other topics of importance to ACP countries’ trade, including enhancing trade among ACP countries and trade issues with the European Union (EU).

    The ACP press release also notes that ACP representatives have committed to “increased integration, unity and solidarity” among ACP countries, including taking more “joint ACP approaches to trade and development”.

    The press release from the ACP can be read here.

    The WTO Director-General’s full speech can be read here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is a 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.

  • Caribbean Trade and Development Digest – October 15-21, 2017

    Caribbean Trade and Development Digest – October 15-21, 2017

    Welcome to the Caribbean Trade and Development Digest for the week of October 15-21, 2017! We are pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World. We hope you enjoy this edition.

    REGIONAL

    Cuba, T&T trade ties growing, says Cuba ambassador

    Trinidad Guardian: Despite the American economic embargo against Cuba, T&T businesses continue to show interest in commercial ties with the island said Cuban Ambassador Guillermo Vázquez Moreno. Read more

    (Jamaica) Senate passes law to speed up exports

    Jamaica Gleaner: The Senate yesterday passed legislation amending the Processed Food Act and the Processed Food (General) Regulations, 1959, removing the requirement for export certificates to facilitate the implementation of the Automated System for Customs Data (ASYCUDA). Read more

    COTED green-lights Agriculture Regional Emergency Response Team

    ST Kitts & Nevis Observer: The Council for Trade and Economic Development (COTED) has approved the Regional Agriculture Emergency Response Sub-Committee to provide prompt action to help the agriculture sector in Caribbean Community (CARICOM) member states to rebound after natural disasters. Read more

    CARDI ready to take action to rebuild agriculture in Barbuda, Dominica

    Caribbean News Now: The Caribbean Agricultural Research and Development Institute (CARDI) has already begun taking action to restore the battered agriculture sectors in Barbuda and Dominica. Read more

    UWI launches Centre for Reparations Research

    Jamaica Observer: The University of the West Indies (UWI), Mona, this week officially launched Centre for Reparation Research at the campus. Read more

    Meat safety training for Caribbean countries

    Jamaica Observer: A two-day regional training workshop covering hygiene provisions for raw meat, meat preparations and manufactured meat from the time of live animal production up to the point of retail sale, gets underway here on Tuesday. Read more

    INTERNATIONAL

    ACP trade ministers reaffirm commitment to multilateral trade system

    Caribbean News Now: Ministers and senior officials responsible for trade from 79 African, Caribbean and Pacific (ACP) countries reaffirmed their strong and resounding commitment to the multilateral trading system, at the conclusion of the 20th ACP Ministerial Trade Committee meeting held in Brussels on 18-19 October. Read more

    Ukraine files WTO Complaint over Russia, import, transit restrictions

    WTO: Ukraine has requested WTO consultations with Russia regarding Russian measures affecting trade in certain products such as juice, alcoholic beverages, confectionery and wallpaper from Ukraine. The request was circulated to WTO members on 19 October. Read more

    Dubai set to host Africa trade summit

    The Standard: Dubai will this November host African heads of State and business leaders at a forum to discuss the continent’s economic outlook and investment opportunities for countries in the United Arab Emirates (UAE). Read more

    Canada ‘extremely worried’ about NAFTA: Ambrose

    CTV: Behind the scenes Canadian officials are “extremely worried” about where the North American Free Trade Agreement negotiations are headed, and it’s time to be worried, says Rona Ambrose, a member of Canada’s NAFTA Advisory Council. Read more

    UK Trade Secretary Dismisses ‘Nightmare’ of No-deal Brexit

    Bloomberg: U.K. International Trade Secretary Liam Fox said leaving the European Union without a deal for future business isn’t a “nightmare scenario” for Britain. Read more

    US will not interfere in EU trade with Iran, says Tillerson

    Reuters: The United States does not aim to impede European trade and business transactions with Iran despite President Donald Trump’s decision last week to decertify the 2015 nuclear agreement, Secretary of State Rex Tillerson told the Wall Street Journal. Read more

    ‘We need trade deals’: Swedish PM opposes Macron’s call to slow down

    The Local: Swedish Prime Minister Stefan Löfven has said he opposes moves by French President Emmanuel Macron to slam the brakes on free trade deals. Read more

    New Zealand’s Ardern wants to balance trade pact with housing pledge

    Bloomberg: Incoming leader Jacinda Ardern says New Zealand will still seek membership in the proposed Trans Pacific Partnership even as she strives to honor her election campaign pledge to clamp down on foreign property speculators. Read more

    Details of a massive trade deal among 11 heavyweight economies may be announced next month

    CNBC: Ten months after President Donald Trump abandoned what was pegged as the world’s biggest trade deal, its surviving participants may be close to a new agreement. Read more

    US pushes ‘fair trade’ as economic talks with Japan advance

    Bloomberg: The Trump administration is advocating for a more balanced trade relationship with Japan as high-level economic talks with the Asian nation advance this week in Washington, according to Vice President Mike Pence. Read more

    WTO: On 17 October the WTO issued the panel report in the case brought by Brazil in “Indonesia – Measures Concerning the Importation of Chicken Meat And Chicken Products” (WT/DS484). Read more

    Azevedo underlines growing importance of services trade

    WTO: Speaking at the Global Services Summit in Washington D.C. on 17 October 2017, Director-General Roberto Azevêdo highlighted that trade in services accounts for almost 50 per cent of world trade today. Read more

    Afghanistan and Brazil welcomed as observers to WTO Government Procurement Agreement

    WTO: The WTO Committee on Government Procurement agreed on 18 October to grant observer status to Afghanistan and Brazil. Members welcomed Afghanistan’s commitment to seek eventual accession to the Government Procurement Agreement (GPA). Some also expressed hopes that Brazil might, in the future, consider acceding to the Agreement. Read more

    Liked this issue? To read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.