The CIC National Capital Branch Latin America and Caribbean Study Group, and the Canada Caribbean Institute invite you to a virtual discussion on
Optimizing the Canada-CARICOM trade relationship
Thursday, June 29, 2023, 10 am to 1 pm
Canada and CARICOM are working to define a forward-looking bilateral cooperation agenda. While trade has been an important part of the relationship for many years, recent trade and investment flows have seen a decline. Can enhanced trade relationships contribute to the forward bilateral cooperation agenda? And if so, how can this best be achieved?
The Canada International Council Latin America and Caribbean Study Group and the Canada Caribbean Institute are pleased to host a panel on Optimizing the Canada CARICOM trade relationship. The panel will feature several exporters and investors outlining their experiences and lessons in the market. The main trade promotion and facilitation agencies from the two sides will set out their programs and experiences in seeking to expand bilateral trade. Finally, the panel will feature a discussion of the current “government to government” trade arrangements and whether these are appropriate going forward.
The moderators of this event will produce a short summary of proceedings to share with attendees and others following the event.
Welcome to our Caribbean Trade and Development News Digest covering the week of April 30-May 6, 2023! 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!
What’s new on the blog?
Strictly Facts Podcast Episode 57: I had the pleasure of being a guest on the Strictly Facts podcast where I spoke with Alexandria about the history of trade in the Caribbean and some contemporary Caribbean trade issues. Have a listen to the episode here!
My participation in the Barbados trade mission to Charleston. In April I was part of a trade delegation led by Invest Barbados and the Consulate of Barbados in Miami to Charleston, South Carolina. See the piece I wrote sharing my thoughts on Barbados-South Carolina trade following my participation in this trade mission! Read here.
THIS WEEK’SHIGHLIGHTS!
The six OECS WTO members had their fourth trade policy review this week. Read more here.
REGIONAL NEWS
Grenada resumes mango exports to US after lifting of 20 year ban
St Vincent TImes: The USDA’s Animal and Plant Health Inspection Service (APHIS) lifted an almost 20-year restriction on Grenada’s mango exports to the US. Read more
New Region 1 ferry to assist with export of fresh produce to Caricom states
News Source Guyana: The new ferry that will be plying the Georgetown to Region One route will also be used to ferry fresh produce and goods to Trinidad and Tobago and other Caribbean islands, the Government has announced. Read more
China/ Guyana trade in goods skyrockets to US$1.8B
Guyana Times: Trade between Guyana and China has been steadily increasing over the past few years and at the end of 2022, bilateral trade in goods skyrocketed to US$1.88 billion (or GY $397.5 billion). Read more
Over US1.9 billion in export earnings, STATIN
Jamaica Observer: Jamaica generated export earnings of just over US$1.9 billion, between January and December 2022. Read more
Bridgetown Initiative 2.0 Highlights Six Key Action Areas
MENAFM: The United Nations secretary-general and the prime minister of Barbados joined forces under the Bridgetown Initiative to address the immediate needs of countries facing debt distress and liquidity challenges, proposing a large-scale SDG Stimulus package to invest in the Sustainable Development Goals (SDGs), while stressing the need for reform of the international financial architecture. Read more
Commonwealth and Caricom Secretariat running entrepreneurial skills scheme for 300 Caribbean youths
The Commonwealth: Entrepreneurial young people in the Caribbean are encouraged to apply for a six-month scheme offering bespoke business training and mentorship. Read more
Cuba reaffirms unconditional relations with Caricom
Jamaica Observer: Cuba on Wednesday reaffirmed its “unconditional and selfless friendship” with the Caribbean Community (Caricom), describing the regional integration grouping as a “vital exceptional institution”. Read more
Call for founding fathers of Caricom to receive region’s highest award
Jamaica Observer: The chairman of the Dr Eric Williams Memorial Committee, Reginald Vidale, is calling for the founding fathers of the regional integration movement, Caribbean Community (Caricom), to be given the region’s highest award posthumously as it celebrates the 50th anniversary of the Treaty of Chaguaramas. Read more
INTERNATIONAL NEWS
AfCFTA: We need business support to succeed
African Business: At the first AfCFTA Business Forum in Cape Town, the secretary-general said that the initiative can only succeed if it finds new ways to include the private sector. Read more
Africa’s trade too low: AfCFTA chief
Zimbabwe Independent: Wamkele Mene, the man who heads a new trade bloc that is working to build seamless trade networks for Africa’s economies, said last week the region’s contribution to global trade and gross domestic product (GDP) was too low. Read more
At 435%: Intra-African Trade Tariff Too High – Okonjo-Iweala
Leadership: Director general, World Trade Organization (WTO), Ngozi Okonjo-Iweala, has said that the Intra African trade tariff is too high at 435 per cent and is detrimental to trade activities as well as the implementation of the African Continental Free Trade Area (AfCFTA). Read more
AfCFTA: Effective implementation and reforms to boost growth – IMF report
Africa News: successful African free trade area implementation could unlock major benefits for Africa in terms of income, jobs among other things, a report by IMF staff said. Read more
Afreximbank launches US$3 billion Country Programme with the Government of Kenya
AfriEximBank: The three-year Country Programme of up to US$3 billion will support viable trade and trade-related investments in Kenya in both the private and public sectors. The financing package will be implemented using several instruments, including loans, guarantee facilities, trade services, investment banking and advisory services. Read more
Sustainable trade, emerging tech to top next transatlantic summit’s agenda
Euractiv: The European Union and the US will strive to align on green tech, emerging technologies, and export control measures in a high-level meeting due later this month. The European Commission and the US administration are meeting on 30-31 May in Sweden for the fourth summit of the Trade and Technology Council (TTC), a platform for transatlantic alignment. Read more
Australia’s exports to China hit record high as relations thaw
CNN Business: Australia’s exports to China hit a record high in March, as Chinese buyers snapped up Australian commodities from coal to iron ore amid a thaw in bilateral relations. Read more
US trade deficit narrows sharply in March as exports rise
Reuters: The U.S. trade deficit narrowed sharply in March as exports increased, which could position trade to continue contributing to economic growth in the second quarter. Read more
Google, Amazon Lobbyists Helped US Shape New Indo-Pacific Trade Framework
FinancialPost: US trade officials have solicited the advice of lobbyists for Amazon.com Inc., Alphabet Inc.’s Google and other major technology companies to help craft the new Indo-Pacific trade framework. Read more
US trade officials concerned about China’s ‘economic coercion’ ahead of Apec trade meeting
SCMP: Christopher Wilson, assistant US Trade Representative, says US has ‘ongoing concerns about the misuse and manipulation of intellectual property’. Read more
33 Democrats urge ban on investor-state dispute provisions in all US trade deals
Reuters: Democratic U.S. lawmakers on Wednesday urged the U.S. Trade Representative and State Department to eliminate investor-state dispute settlement provisions from current and future trade deals and to intervene on behalf of Honduras against a U.S. company’s nearly $11 billion claim against the country. Read more
B.C. MP seeks ban on old-growth log exports by 2030
Northshore News: The motion, submitted by Liberal MP Patrick Weiler this week, aims to end old-growth logging on federal lands and halt the export of ancient logs and related products. Read more
India might lose its global rice market rank
Livemint: New Delhi: India’s rice exports are expected to decline in this financial year as the impact of export curbs starts showing. This may cause India to lose its position in the global trade market, exporters said. Read more
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:
On May 3-5, 2023, the World Trade Organisation (WTO) completed its fourth review of the trade policies and practices of the six Organisation of Eastern Caribbean States (OECS) WTO members. These are Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines. The OECS delegation was led by the Honourable Everly Paul Chet Greene, Minister of Foreign Affairs and Trade of Antigua and Barbuda, and Chair of the OECS Council of Ministers of Trade. The discussant was Her Excellency Ambassador Nadia Theodore, Permanent Representative of Canada to the WTO.
WTO members, meeting as the Trade Policy Review Body, reviewed the WTO Secretariat’s Report and the reports from the Governments of those six countries. During the meeting, WTO members had the opportunity to seek clarity from the OECS delegation on various issues relating to their trade policies and practices. The Chairperson’s concluding remarks stated that 24 delegations had taken the floor over the two-day meeting and 169 advance written questions from 12 delegations had been submitted for the review.
According to the chairperson’s concluding remarks, the OECS members were applauded for “the constructive role that the OECS-WTO Members play in the multilateral trading system” despite their small size. They also received praise for their open trade and investment regimes and strong support of environmental action. However, major concerns raised surrounded implementation of commitments under WTO agreements and the backlog in compliance with their WTO notifications. It was pointed out in the Secretariat report that this was likely because of capacity constraints and the fall-out from the COVID-19 pandemic.
The OECS is a regional intergovernmental organisation and subregional integration movement in the Caribbean region which was formed in 1981 with the signing of the Treaty of Basseterre, subsequently revised. All OECS members are members of the Caribbean Community (CARICOM). Besides the six members mentioned (all six are sovereign States), it also includes a non-sovereign full member, Montserrat. These full members are part of the Eastern Caribbean Currency Union (ECCU) and therefore share a common currency, the Eastern Caribbean dollar. Its associate members are non-sovereigns: British Virgin Islands, Anguilla, Martinique and Guadeloupe.
The TPR reports are made publicly available and are a rich source of information for trade analysts and potential investors of a country’s trade policies and its general trading and macroeconomic environment. The TPRB chairperson’s concluding remarks are released shortly after. The minutes of the meeting, as well as members questions, are also released about six weeks after the conclusion of the review.
This week I had the pleasure of joining, in a personal and unofficial capacity, a Barbados business delegation organised by Invest Barbados and the Barbados Consulate to Miami to the beautiful city of Charleston in the southern United States (US) state of South Carolina. For many years I have heard of the rich history between Barbados and the Carolinas. History tells us that it was in the 17th century that British planters from Barbados and their enslaved Africans established a “colony of a colony” in the Carolinas, the area now roughly North and South Carolina. A vibrant underground trade existed between the colonies of Barbados and the Carolinas during the colonial era but current Barbados-South Carolina trade is quite small.
This three-day trade mission afforded me the opportunity not just to learn much more about this history, but more germane to my profession, consider how these historical ties could be leveraged to expand on the currently miniscule trading relationship between Barbados and the ‘Palmetto State’. In this article, I share my initial reflections coming out of this visit.
Sweet Home Carolina?
One of the first things which struck me upon arrival to Charleston, the State’s largest city, was the warmth of the people I met. Like my visit to Charlotte, North Carolina a couple years ago, this visit felt almost like coming back home. Charleston is a coastal city of roughly 150,000 people but feels, in many ways, like a small town. Its colourful architecture, tree-lined streets and southern charm were immediately alluring to me.
The Barbados-South Carolina connection has its historical genesis in the evils of colonialism and the blood, sweat and tears of our enslaved ancestors. However, because of that unfortunate historical connection, there is much about Charleston that feels familiar to a Barbadian. People would pass you on the street and say good morning, which is something I am used to in Barbados but not in the US! While trying to get from the airport to my hotel, a complete stranger kindly offered me his phone to call my hotel and made sure I was covered with transportation before he left. That kind gesture took me pleasantly by surprise but I later learnt this was all part of the Charlestonian way. Besides the warmth of the people, many of the customs, the architecture and the food reminded me of home, as well as the uncanny similarity between the Gullah language and our Bajan dialect.
But what does all of this have to do with trade? All business, including international trade, is built on relationships. One of the key benefits of participating in trade missions is the ability for businesses to establish relationships with officials and potential business partners, gather preliminary on the ground market intelligence and learn a bit about the culture, business climate and opportunities in the potential target market.
This mission was just one of several efforts over the years at expanding people-to-people and business links between Barbados and South Carolina. Charleston and Speightstown, which share a historical relationship, have been twin cities since the 1990s. Significant credit behind many of these Barbados-Carolinas initiatives goes to Barbados’ Honorary Consul to South Carolina and CEO/Founder of the Barbados and the Carolinas Legacy Foundation, Miss Rhoda Green, a Barbadian based in the US. ‘Miss Rhoda’, as she is affectionately called, has been a tour de force in educating Barbadians and Carolinians about the Barbados-Carolinas connection and her bubbly spirit and passion are instantly charming. She had also written the foreword to the canonical book “The Barbados-Carolina Connection” by Warren Alleyne and Henry Fraser, which is definitely recommended reading for anyone interested in this historical relationship.
In October 2022, Charleston’s Mayor John Tecklenburg, himself a businessman, led a large business delegation to Barbados. In his address on the first day of the current delegation, Mayor Tecklenburg emphasized the importance of the Barbados-Carolinas connection and noted his hope that these business delegations would be an ongoing exchange. Indeed, a South Carolinian business delegation will be coming back to Barbados in October of this year. Similarly, Barbados’ Consul General to Miami, Rudy Grant, which also has responsibility for eleven US states (South Carolina included), reiterated the importance of commercial diplomacy to helping expand Barbados-South Carolina trade ties.
Much of Barbados’ trade with the US is concentrated with the US State of Florida. Two-way merchandise trade between Barbados and South Carolina is very small and concentrated in only a narrow range of goods. South Carolina enjoys a trade surplus with Barbados. Similarly, South Carolina mainly trades with North America and Asia. Barbados does not rank within its top markets. Addressing us in front of the soon-to-be-opened International African American Museum, South Carolina State Senator Marlon Kimpson, who was recently appointed to President Joe Biden’s Trade Advisory Council, remarked on this limited trading relationship and stated his willingness to work with Barbados on expanding it.
Areas of Opportunity
One of the things that became clearer to me coming out of this mission was that there are many areas of opportunity for expanding and diversifying our trade with South Carolina. One area is tourism, particularly niche areas like heritage, culinary, genealogical, medicinal, educational tourism, among others. There is much for a Barbadian tourist to see in Charleston. On the first day, Miss Rhoda provided us a stirring tour of the Charleston Landing’s museum showcasing the Barbados-Carolinas history. This is also definitely an attraction many Barbadians will likely enjoy. Certainly, I did! On the second day, the delegation was graciously provided with a sneak preview of the International African American Museum by its dynamic and insightful President and CEO Dr. Tonya Matthews. The museum is built on the site of a former slave port, a fact driven home by the hunched sculptures representing our enslaved ancestors awaiting their fate. The exhibits offer a raw and powerful look into the lived realities of the African-American experience from historical times to the present-day. The histories narrated share not just the travails and triumphs of those of black descent in America but also weave in the stories of persons from Latin America and the Caribbean, again reiterating that shared history between us.
Additionally, there is much opportunity for collaborative research, business and investment in the areas of renewable energy and the blue and economy between Barbados and South Carolina. Of interest is that the Sea Turtle Care Center at the South Carolina Aquarium, another must-see attraction, is the largest turtle hospital on the US eastern seaboard. Its CEO Mr. Kevin Mills shared that South Carolina is dealing with some of the same issues we have in Barbados regarding turtle conservation, such as turtles and their hatchlings being injured by manmade hazards. Like all cities, Charleston has its share of problems as does Barbados. But like Barbados is in the Caribbean, Charleston is one of the most attractive markets for business in the US. The city also has one of the lowest unemployment rates in the US. With South Carolina’s ‘low country’ being vulnerable to the effects of climate change, the state is not unfamiliar with the imperative to pivot after a major disaster. Hurricane Hugo in 1989 had caused significant devastation and has made resilience a key consideration for them, similar to Barbados.
Charleston’s proximity to Miami makes getting to the city relatively easy for both business and leisure travel for Barbadians. Moreover, most Barbadian goods exports to the US benefit from duty free treatment in the US under the Caribbean Basin Initiative, a one-way trade preferences scheme implemented by the US Government since the 1980s.
In turn, the Barbados delegation, comprising mainly delegates from Invest Barbados, the National Cultural Foundation (NCF), the Barbados Tourism Marketing Inc (BTMI) and the Barbados Chamber of Commerce and Industry (BCCI) and private individuals, did a fabulous job of selling Barbados as a place for work, play and investment. The team highlighted not just the shared connection, but Barbados’ political and economic stability, openness to investment, stable business climate, and its network of trade, tax and investment agreements. Invest Barbados also shared its Blue Book of investment projects for interested investors.
The response and enthusiasm from the South Carolinian business community and their interest in learning about trading and investment opportunities with Barbados reiterated to me that there is much to be gained from this relationship. The South Carolinian businesses represented included manufacturing, renewable energy, higher education, real estate, financial services and logistics, among others. The budding relationship between the Barbados Chamber of Commerce and Industry (BCCI) and the Charleston Metro Chamber, both the oldest chambers in their respective markets, also bodes well for members of both chambers.
I wish to thank Invest Barbados for the opportunity to join this delegation. I also thank my fellow delegates for a wonderful time of both work and play. I also wish to thank the people of Charleston for their impeccable hospitality, including the Barbados-Carolinas Legacy Foundation. I look forward to seeing this Barbados-Carolinas trade connection grow and flourish. May the levels of trade between us one day be as rich as the history we share!
Alicia Nicholls, B.Sc., M.Sc., LL.B. is an international trade consultant and founder of the Caribbean Trade Law and Development Blog: Caribbeantradelaw.com. She was part of the Barbados delegation to Charleston, South Carolina in a personal and unofficial capacity.
Correction: The number of States for which the Barbados Miami consulate has responsibility has been corrected to eleven.
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