Caribbean Trade Law and Development

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  • UK releases ‘Global Britain in a Competitive Age Strategy’; Pivots to Indo-Pacific

    UK releases ‘Global Britain in a Competitive Age Strategy’; Pivots to Indo-Pacific

    Image by Clker-Free-Vector-Images from Pixabay 

    Alicia Nicholls

    Coming hot on the heels of the publication of the United States Trade Representative’s (USTR) annual President’s Trade Policy agenda and the EU’s new trade strategy priorities outlined last month, today the United Kingdom (UK) government released its own post-Brexit vision of ‘Global Britain’. The over 100-page report entitled ‘Global Britain in a Competitive Age: The Integrated Review of Security, Defence, Development and Foreign Policy‘ comes after a year-long integrated policy review in which several post-Brexit threats and opportunities were identified.

    While there is not much that has changed fundamentally with regard to the UK’s foreign and foreign trade policy, there are some interesting nuggets both from the report and the speech Prime Minister Boris Johnson delivered before the House of Commons today outlining this new policy. Calling it the most comprehensive review of the country’s foreign policy since the Cold War, he emphasised that the aim was to make the UK ‘stronger, safer and more prosperous’ while standing up for its values.

    According to the Prime Minister, the UK’s international policy was a vital instrument for reinforcing the Union and securing the UK’s place as a science superpower and a hub of innovation and research. The UK will be more ‘dynamic abroad’ and more focused on delivering for its citizens. The new independent trade policy will ensure that the rules and standards in trade agreements will reflect its values. He also mentioned the new International Sanctions Policy. In all its endeavours, the US will be the UK’s ‘greatest ally’, a sentiment also found in the EU’s recently released trade priorities as well.

    Prime Minister Johnson highlighted the ways in which the UK has already sought to craft a path of global leadership. He noted the country’s chairmanship of the G7 and its exploration of a Global Treaty on Pandemic Preparedeness working through the World Health Organisation (WHO) to prevent another pandemic. He also pointed to the UK’s hosting of the United Nations Framework Convention on Climate Change Twenty-Sixth Conference of the Parties (UNFCCC COP 26) in Glasgow later this year. The UK is also the first major economy to make a net-zero commitment. The UK, he said, will remain ‘unswervedly’ commited to the North Atlantic Treaty Organisation (NATO) and to preserving peace and security in Europe. The UK’s approach will be to place diplomacy first.

    Notable on the trade front is the UK’s pivot towards the Indo-Pacific region. This includes a reaffirmation of its intention to work more closely with the Association of South East Asian Nations (ASEAN) by becoming a ‘dialogue partner’ and to accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Given Britain’s status as a maritime nation, the Prime Minister said, it means that any crisis in the Indo-Pacific region or in those trade routes would affect it. The Prime Minister indicated that as part of the UK’s Indo-Pacific push he will pay a state visit to India next month and had also invited the leaders of India, South Korea and Australia to attend the next G7 summit.

    On the issue of China, a familiar theme emerges. Similar to the US and EU, the UK has identified China’s ‘increasing international assertiveness’ as both a ‘great challenge’ but also sees Beijing as a potential collaborator on areas of mutual interest, such as economic relations and climate change.

    On the homefront, the UK will seek to become a ‘Science and Technology Power’. Moreover, to counter what it sees as growing threats to its national security, the UK will remain a nuclear-armed power, increase funding for its defence and security and establish a Counter Terrorism Operations Centre. The National Cyber Force will be put in a new Cyber Corridor in the north. There will be a Cross-Government Situation Centre to improve the UK’s ability to respond to future crises.

    A major point raised during the debate was what appeared to be a cut in the UK’s spending on development aid.

    Prime Minister Johnson’s speech, the response by the leader of the Opposition and the ensuing House of Commons debate may be watched below:

    The report itself can be accessed here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B is an international trade and development specialist. Read more of her commentaries here or follow her on Twitter @licylaw. All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may from time to time be affiliated.

  • Barbados announces Post-COVID-19 Foreign Policy and Trade Strategy

    Barbados announces Post-COVID-19 Foreign Policy and Trade Strategy

    Alicia Nicholls

    Barbados will make expanding trade levels and deepening cooperation with both traditional and non-traditional partners central planks of its post-COVID-19 economic recovery strategy. These goals were announced as part of a suite of foreign policy and foreign trade initiatives elaborated by Minister in the Ministry of Foreign Affairs, Senator Dr. The Hon. Jerome Walcott in a COVID-19 press briefing held on Saturday, March 13, 2021.

    Among these new initiatives is the opening of new diplomatic missions, including in Ghana, Kenya and the United Arab Emirates. The Kenya mission, which will be a joint Caricom mission, will be accredited to the United Nations office in Kenya and to other East African countries.

    Commercial diplomacy will be an important tool in the Government’s tool kit with the announcement of the appointment of a Commercial and Cultural Officer for the new High Commission in Ghana and a Diaspora Officer for the UK mission. The Minister also noted that commercial attaches will be deployed in other missions over time.

    The new strategy will see greater use of digital technologies in Barbados’ diplomatic engagement efforts and greater focus on leveraging the Barbados diaspora, particularly for harnessing investment, entrepreneurship and philanthropy.

    Barbados will be deepening its relationships with traditional partners such as other CARICOM Member States, the US and Europe. There will be a focus as well on developing closer relationships with non-traditional partners in the EU.

    South-South cooperation will continue to be a priority for Barbados as it cultivates relationships with newer partners such as China and countries in Africa, Asia and the Middle East. Barbados will also deploy a Latin America strategy and will leverage its Panama Embassy.

    Additionally, Barbados will continue to promote the principles of multilateralism, diplomacy and cooperation. It will work with all interested partners, particularly on issues of deep development significance to the island and region such as climate change, debt and the development of a multidimensional vulnerability index for determining eligibility for concessional aid and other development assistance.

    Barbados’ focus on trade as part of its recovery efforts is a welcomed and not surprising step. Barbados is a small open economy highly dependent on the import of products and running continuous trade deficits.

    The Covid-19 shock was a body blow to an economy that is already undergoing a homegrown IMF-sanctioned economic recovery and transformation programme but has so far been performing well according to the programme targets. The Covid-19 induced sudden drop in tourist arrivals was a significant factor in the economy’s near 18% contraction in 2020, according to the Central Bank of Barbados Review of the Barbados Economy for 2020. While tourism is unlikely to be replaced as the country’s main foreign exchange earner anytime soon, what is indeed needed is the expansion of exports in other sectors, particularly high-value added sectors.

    The focus on trade expansion however must be moored to a coherent and well-articulated development strategy if it is to achieve the objective of contributing to a resilient, inclusive and sustainable post-Covid-19 recovery. It must be supported by and linked to equally coherent industrial and investment policies. After all, we do not seek to increase trade just for its sake but with the aim of promoting development through greater job creation, foreign exchange inflows, promotion of economic activity and poverty alleviation.

    I personally eagerly look forward to the implementation of these initiatives. I also hope there will be data available so evidence-based monitoring and evaluation of the policies can be done to ascertain their efficacy.

    For further information, please see this press release and a link to the recorded statement by Minister Walcott on the Barbados Government Information Service website here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B is an international trade and development specialist. Read more of her commentaries here or follow her on Twitter @licylaw. All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may from time to time be affiliated.

  • Afronomicslaw Symposium: Prospects for Deepening Africa-Caribbean Economic Relations – Call for Blogs

    Afronomicslaw Symposium: Prospects for Deepening Africa-Caribbean Economic Relations – Call for Blogs

    Total trade volumes between African and Caribbean countries remain small, but the potential and opportunities for enhancing trade, investment and economic cooperation between these two regions are encouraging based on shared historical and cultural ties. To this end, the Caribbean Community (CARICOM) has announced steps to formalize relations with the African Union (AU).Several CARICOM countries have also sought to deepen bilateral ties with individual African countries. Africa-Caribbean Economic Relations and cooperation are even more critical now as countries on both sides of the Atlantic aim to kickstart economic recovery following the devastation wrought by the COVID-19 shock. Indeed, vaccine cooperation became another form of Africa-Caribbean cooperation when the AU offered CARICOM access to some of the approved vaccines from a shipment it was receiving.

    Given the limited but promising trade and investment relationship between both regions, there is a dearth of scholarly analysis on the Africa-Caribbean economic relationship. This Symposium aims to address this gap in international economic relations scholarship through considered analytical pieces exploring aspects of this understudied relationship.

    We invite authors to submit contributions which critically analyze and examine this relationship from a variety of perspectives, including but not limited to:

    • Geo-political and economic ties (both historical and present) between these two regions; 
    • The future of trade and investment relations between both regions in light of WTO-plus mega-regional trade agreements popping up;
    • EU-ACP relations e.g. EU-EPAs and issues relating to fragmentation and dilution of negotiating positions by African and Caribbean countries;
    • The impact of COVID-19 on the vulnerability of trade and investment regimes in both regions;
    • Comparative perspectives from both regions on the role of education in the advancement of critical thought in international economic relations scholarship;
    • Comparative perspectives from both regions on the regulation of digital trade/e-commerce;
    • Africa-Caribbean collaboration in multilateral fora, e.g., WTO, ACP, Commonwealth, UNCTAD; •
    • Comparative perspectives from both regions on approaches to cooperation and regional integration; 
    • Comparative perspectives from both regions on Sustainable Development, e.g., approaches to mainstreaming regulation of renewable energy, the green and blue economy into trade and investment regimes;
    • Air Connectivity/Tourism/Travel Trade, e.g., prospects for promoting leisure and business travel between CARICOM and African countries;
    • Cultural Industries collaboration;
    • Role of the private sector in shaping future Africa-Caribbean trade and investment relations;
    • Investment relations, e.g., opportunities for Africa-Caribbean FDI, cooperation on investment rule-making reform.

    Submission Guidelines:

    Essays that are submitted as part of this symposium must be analytical and original. Authors must comply with the Afronomicslaw.org blog submission guidelines accessible here. Blogs are to be submitted to afronomicslaw@gmail.com with the title ‘African-Caribbean Relations Blog Submission’.

    Deadline for Submission of Essays:

    May 14, 2021.

    Inquiries or clarifications relating to this call should be directed to Ohio Omiunu (ohio.omiunu@dmu.ac.uk) and Alicia Nicholls (alicia.nicholls@cavehill.uwi.edu)

  • Afronomicslaw Call for Blogs: African-Asian Relations: Fostering Trade and Investment in Times of Crisis

    Afronomicslaw Call for Blogs: African-Asian Relations: Fostering Trade and Investment in Times of Crisis

    By:

    A core legacy of the New International Economic Order of the 1970s is the rise of the South-South economic cooperation. Since 1980, trade and investment relations between African and Asian states have been growing ever closer. Indeed, the unique ways in which African-Asian economic cooperation manifests has been a defining feature of Africa’s international economic relations since the end of decolonization.

    While the analysis of Sino-African and Indo-African relations have been at the forefront of scholarly analysis for understandable reasons, the economic relations of African states go beyond the dominant actors in the Asian region.

    African-Asian economic relations have evolved considerably over time, ‘with technical cooperation growing not only in terms of trade volumes and the value of financial assistance and investment flows but also in terms of the geographic reach of countries working together.’ Despite the rise of African-Asian cooperation in the last four decades, African states play a marginal role in the global international economic order producing distinct schools of thought. While the first school of thought, the critiques, argue that Asian-African economic cooperation is immersed in power relations that are akin to that of the West; others embrace the relations for the investment and economic growth opportunities that they create.

    We invite authors to author blogs that critically examine the intersection of trade, development, and investment in African-Asian economic relations. We are particularly keen to receive blogs that focus on, but are not limited to:

    • historical and contemporary accounts of forms of governance and regulation in African-Asian trade and investment relations;
    • the impact of bilateral investment treaties (BITs) in African-Asian relations;
    • mechanisms for dispute settlement in trade and investment disputes arising between African and Asian countries;
    • the significance and impact of the Belt and Road Initiative from economic, social, cultural and environmental perspectives;
    • sustainable development in African-Asian trade and investment agreements;
    • the role of inter-national governance in shaping development strategies across African and Asian countries;
    • the role of private actors in shaping and influencing governance in bilateral and regional agreements;
    • corporate social responsibility;
    • investment facilitation and trade facilitation.

    Submission Guidelines:

    Essays that are submitted as part of this symposium must be analytical and original. Authors must comply with the Afronomicslaw.org blog submission guidelines accessible here. Blogs are to be submitted to afronomicslaw@gmail.com with the title ‘African-Asian Relations Blog Submission’.

    Deadline:

    April 30th, 2021.

    Inquiries or clarifications relating to this call should be directed to Olabisi Akinkugbe (Olabisi.akinkugbe@dal.ca) and Clair Gammage (c.gammage@bristol.ac.uk)

    See more at the AfronomicsLaw Blog here.

    Image by bricketh from Pixabay