Caribbean Trade Law and Development

Blog

  • Caribbean Trade & Development News Digest – January 1-16, 2021

    Caribbean Trade & Development News Digest – January 1-16, 2021

    Happy New Year! Welcome to the first Caribbean Trade and Development News Digest for 2021! We do hope that you had a great start to the year so far. We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from January 1 – 16, 2021.

    WHAT’S HAPPENED IN TRADE SINCE DECEMBER 2020?

    Since our last digest was published near the end of December 2020, some major trade developments have occurred, including on the Brexit, AfCFTA and other fronts. If you missed them, then catch up on these developments in my update article here.

    REGIONAL NEWS

    Re-examining Caribbean-Chinese relations

    Global Americans: Too often, United States government officials and scholars have characterized China’s relationship with Caribbean nations as a one-way affair in which the former, as a malign foreign actor, takes advantage of the latter, a small and weak group of states. Read more

    Minister aiming to expand reach of Jamaica Blue Mountain Coffee

    Jamaica Observer: Minister of Agriculture and Fisheries Floyd Green is aiming to expand the reach of the Jamaica Blue Mountain Coffee brand internationally and increase production of coffee locally. Read more

    Yvor Nassief | The Ongoing Caricom Soap Saga – Dominican Producer Outlines Concerns With Jamaican Soap Imports & Exports

    Jamaica Gleaner: The recent press coverage of the decision by the Caribbean Community (Caricom) Council for Trade and Economic Development (COTED) that companies in Jamaica are not eligible to receive certificates of origin for their soap exports, thereby not enjoying duty-free access to Caricom, is one-sided and contains inaccuracies and misrepresentations. I seek to clarify some of these. Read more

    Royal Caribbean will offer cruises from Barbados in December 2021

    Royal Caribbean Blog: Royal Caribbean announced it will begin offering roundtrip cruises from Barbados at the end of 2021 on Grandeur of the Seas. Read more

    Guyana signs on to new trade, investment agreement with UK

    Jamaica Observer: Guyana has officially signed on to the new agreement that will govern trade and investment between the United Kingdom and the CARIFORUM group of countries following the UK’s exit from the European Union. Read more

    US takes sterner action against Exxon’s Chinese partner in Guyana, unlikely to affect local operations

    Stabroek: The Trump administration in its waning days took another swipe at China and its biggest firms yesterday including ExxonMobil’s Guyana partner, CNOOC for alleged misdeeds in the South China Sea. Read more

    Guyana, US security pact to reel in illegal fishing

    Stabroek: A defence partnership agreement was signed yesterday between Guyana and the United States and it is expected to ensure increased safeguards against illegal fishing in this country’s waters. Read more

    CARICOM could source COVID-19 vaccines from the African Union

    Jamaica Observer: The Caribbean Community (Caricom) has been offered access to approved COVID-19 vaccines from a shipment recently secured by the African Union. Read more

    Guyana holds talks on difficulties exporting agri, poultry products to T&T

    Newsroom: Guyana on Friday convened a virtual Joint Ministerial Trade and Agricultural Meeting with Trinidad and Tobago to discuss market access difficulties experienced by Guyana when exporting agricultural and poultry products to the twin-island republic. Read more

    Trinidad & Tobago manufacturers support trade ministry action on cement industry

    Trinidad Guardian: The Trinidad and Tobago Manufacturers Association (TTMA) has come out in support of recent moves by the Ministry of Trade and Industry to ensure fair trade practices in the cement industry. Read more

    Trinidad & Tobago Gov’t gets to work on reviving manufacturing sector

    Loop TT: The Ministry of Trade and Industry said it’s encouraged by emerging signs of resurgence in the manufacturing sector as noted in the Central Bank of Trinidad and Tobago’s (CBTT) December Monetary Policy Announcement. Read more

    Trade Ministry lists support for manufacturing

    TT Newsday: Government remains committed to the well-being and expansion of the local manufacturing sector as well as ongoing and future collaborations with the private sector, the Trade and Industry Ministry said in a statement on Friday. Read more

    Mondello: TT, US can start new chapter under Biden

    TT Newsday: Days ahead of the swearing-in of Joe Biden as new US president next Wednesday, outgoing US ambassador Joseph Mondello hoped TT and the US could use the change to strengthen their relationship. Read more

    New CARICOM manufacturing body gets to work

    Barbados Today: A new regional manufacturers association has been launched in the Caribbean Community (CARICOM) to help promote regional manufacturers. The founding members are the Barbados Manufacturers’ Association (BMA), the Dominican Manufacturers’ Association, the Guyana Manufacturers’ and Services Association, the Jamaica Manufacturers’ and Exporters Association, the St Lucia Manufacturers’ Association and the Trinidad and Tobago Manufacturers’ Association. Read more

    BVI loses access to EU funding

    BVI News: The BVI and other British Overseas Territories will no longer have access to any future funding for sustainable development from the European Union as the UK’s Brexit deal took effect on January 1, 2021. Read more

    Belize exports 16,000 lbs of chicken to CARICOM

    Amandala: On December 23, Belize exported its first-ever shipment of poultry products to the CARICOM region. The Ministry of Foreign Affairs, Foreign Trade, and Immigration, in partnership with the Ministry of Agriculture, announced that 16,000 pounds of chicken cuts were exported to Grenada. Read more

    INTERNATIONAL NEWS

    What Does 2021 Hold for Global Trade?

    Brink News: How will the expected economic recovery impact trade? Will the Biden administration maintain current President Donald Trump’s tariffs on China? Has globalization been fundamentally altered by the pandemic? BRINK invited Nicolas Lamp, a global trade expert based at the Faculty of Law of Queen’s University Canada, to share his thoughts on what trends to expect in 2021. Read more

    Air travel down 60 per cent, as airline industry losses top $370 billion: ICAO

    UN: The International Civil Aviation Organization (ICAO) said on Friday, that as seating capacity fell by around 50 per cent last year, that left just 1.8 billion passengers taking flights through 2020, compared with around 4.5 billion in 2019. That adds up to a staggering financial loss to the industry of around $370 billion, “with airports and air navigation services providers losing a further 115 billion and 13 billion, respectively”, said ICAO in a press statement. Read more

    Biden aims for new course on trade, breaking with Trump and Democratic predecessors

    WP: It may not take long for President-elect Joe Biden to distinguish his trade policy from his predecessor’s “America First” approach. Read more

    U.S.-China trade war has cost up to 245,000 U.S. jobs: business group study

    Reuters: U.S. President Donald Trump’s trade war with China has caused a peak loss of 245,000 U.S. jobs, but a gradual scaling back of tariffs on both sides would boost growth and lead to an additional 145,000 jobs by 2025, a study commissioned by the U.S.-China Business Council (USCBC) shows. Read more

    US-China trade war deal reaches first anniversary as bilateral mistrust hits ‘all-time high’

    SCMP: One year after signing, China lags far behind in its purchases of American goods and the trade imbalance with the US has grown. Read more

    Exclusive: UK eyes adding climate provisions in US trade talks to woo Joe Biden

    City A.M: The UK will try to add new provisions on climate change and environmental standards in US trade negotiations in a bid to woo incoming President Joe Biden. Trade secretary Liz Truss wants to build on current negotiations with the Donald Trump administration and potentially add things like enhanced protections on air pollution and corporate transparency on climate change to coax Biden’s team to the negotiating table. Read more

    Keep tariffs on China, says outgoing US trade chief

    CNA: Outgoing US President Donald Trump’s trade chief on Monday (Jan 11) urged President-elect Joe Biden to maintain tariffs imposed on China, arguing that they have shifted the balance of power in Washington’s favour. Read more

    US suspends tariffs against French goods over digital service tax

    Reuters: US had proposed tariffs on $1.3bn worth of French goods in retaliation for French tax on tech firms. Read more

    France wants suspension of ‘poisonous’ U.S.-Europe trade spat

    Financial Post: The European Union and the incoming administration of U.S. President-elect Joe Biden should suspend a trade dispute to give themselves time to find common ground, France’s foreign minister said in remarks published on Sunday. Read more

    UPDATE 1-USTR says Vietnam’s currency actions ‘unreasonable’ but holds off on tariffs

    Reuters: The Trump administration on Friday said Vietnam’s actions to push down the value of its currency are “unreasonable” and restrict U.S. commerce, but is not taking immediate action to impose punitive tariffs. Read more

    Canada’s international trade slows in weakening recovery

    Bloomberg: Canada’s merchandise trade deficit remained at historically elevated levels in November, as exports and imports slowed amid a weakening global recovery. Read more

    After months of COVID delays, African free trade bloc launches

    Al Jazeera: After months of delays caused by the COVID-19 pandemic, the African Continental Free Trade Area launches, but full implementation of the historic pact may take years. Read more

    INTERVIEW | What Africa must do to make the AfCFTA work – Trudi Hartzenberg

    African Newspage: Trudi Hartzenberg is the executive director of the Stellenbosch, South Africa-based Trade Law Centre (TRALAC), focused on improving capacity in trade governance in Africa. Hartzenberg, who currently serves on the World Trade Organization (WTO) Chairs Advisory Committee is also a member of the Committee for Development Policy (CDP), a subsidiary of the United Nations Economic and Social Council (ECOSOC). Read more

    AfCFTA: Three details to note as the largest free-trade agreement kicks off in Africa

    Face2Face Africa: Headquartered in Accra, Ghana, the African Continental Free Trade Area (AfCFTA) is now officially the largest free trade area by the number of participating countries since the founding of the World Trade Organization (WTO) in 1995. Read more

    Malawi deposits AfCFTA ratification to AU

    Xinhua: Malawi on Friday deposited its Africa Continental Free Trade Area Agreement (AfCFTA) ratification instrument to the African Union (AU) Commission as the number of African countries bound by the continental free trade pact grows. Read more

    African Business Council applauds the start of trading on the basis of the African Continental Free Trade Area (AfCFTA)

    Africa News: On 1 January 2021, at the launch of the start of trading on the basis of the AfCFTA, the Pan-African Private Sector, under the umbrella body of the African Business Council (AfBC), issued a press statement in support of this initiative. In it, the AfBC acknowledged that the start of trading under the AfCFTA presents enormous business opportunities for the Pan-African Private Sector, SMEs, Women and Youths as the continent takes this bold move towards Boosting Intra-African Trade. Read more

    UK refused deal on post-Brexit travel for musicians, says Barnier

    Politico: Amid growing uproar in the U.K. over post-Brexit travel for touring musicians, Michel Barnier, the EU’s chief negotiator, said the British government had rejected a clear offer from Brussels to carve out a special deal for performers. Read more

    UK trade minister seeks early meeting with U.S. trade czar on whisky tariffs

    Reuters: British trade minister Liz Truss said on Thursday she was seeking an early meeting with U.S. President-elect Joe Biden’s pick to be his trade czar, Katherine Tai, to discuss tariffs on Scottish whisky. Read more

    Post-Brexit customs systems not fit for purpose, say meat exporters

    BBC: UK meat exporters have claimed post-Brexit customs systems are “not fit for purpose”, with goods delayed for hours, sometimes days, at the border. Read more

    20% of UK chemicals registrations face revocation after Brexit

    Euractiv: Around 20% of registrations from UK-based companies to the European Union’s REACH chemicals database have not been transferred to EU companies and will be revoked after 31 March 2021, according to the European Chemicals Agency (ECHA). Read more

    Exclusive: European Commission battles to sell post-Cotonou deal at home

    Devex: After last month’s long-awaited “political deal” on a new agreement with 79 African, Caribbean, and Pacific countries, the European Commission is now facing another hurdle: its own member states. Read more

    EU trade official wants swift engagement with Biden on aircraft, digital taxes, WTO

    Reuters: The European Union is looking to engage quickly with the Biden administration to resolve major trade irritants, including disputes over digital taxes and commercial aircraft subsides, EU Director General for Trade Sabine Weyand said on Friday. Read more

    EU trade official wants swift engagement with Biden on aircraft, digital taxes, WTO

    Nasdaq: The European Union is looking to engage quickly with the Biden administration to resolve major trade irritants, including disputes over digital taxes and commercial aircraft subsides, EU Director General for Trade Sabine Weyand said on Friday. Read more

    Forget Brexit, the most important trade deal in 2021 is in Africa

    Euractiv: While the UK splinters away from the European Union, Africa is uniting under a landmark free trade agreement, making it one of the largest since the establishment of the World Trade Organization (WTO), writes Debisi Araba. Read more

    Interview: Global trade system reform vital to economic recovery, says Australian economist

    Xinhua: The reform of the global trade system is significant for the world’s recovery from the COVID-19 pandemic and long-term economic growth, a senior Australian economist has said. Read more

    A new administration: US sanctions trends for 2021

    GTR: A raft of new US sanctions guidance and designations made 2020 a challenging year for banks involved in trade finance, yet the overall value of financial penalties handed out was low. GTR speaks to legal experts about recent enforcement trends, the challenges facing trade finance lenders, and the likely impact of the incoming Biden administration. Read more

    China’s cross-border e-commerce plays vital role in global trade amid pandemic

    CGTN: China’s cross-border e-commerce is becoming the latest driving engine for the country’s foreign trade, which gained great momentum last year in a time of COVID-19 recessions. Read more

    Deadlines and Decisions for American Trade in 2021

    US Chamber: As the pandemic and recession hopefully begin to give way to vaccines and recovery in 2021, the U.S. Chamber’s International Affairs Division is focused on the issues that will dominate international economic policy in the months ahead. Read more

    After Trump: What Will Biden Do on Trade?

    Council on Foreign Relations: President Trump disrupted U.S. trade policy in the name of better deals. President-Elect Biden proposes a combination of stronger domestic investment and better coordination with allies. Read more

    Creative economy to have its year in the sun in 2021

    UNCTAD: Here’s why the UN has dedicated a whole year to the creative economy and its critical role in promoting sustainable development, especially in a post-coronavirus world. 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:

  • Season’s Greetings from the CTLD Blog 2020!

    Season’s Greetings from the CTLD Blog 2020!

    Dear Readers,

    As is customary at this time of the year, the CLTD blog will be embarking on our annual Christmas vacation hiatus until January. I wish to personally thank each of you for your readership and support of this blog over the past year – a year which we all know has been fraught with challenges.

    Next year, 2021, marks 10 years of this blog’s existence! When I started the Caribbean Trade Law & Development blog in 2011, I never would have imagined the regional and global readership it would have attracted years later. Again, I warmly thank you for your comments, suggestions, guest contributions, and continued readership which have all helped to make this blog a leading voice on trade and development issues in the Caribbean region.

    I wish you and your families a very Merry Christmas and a wonderful 2021! Be merry and enjoy the ending of what has been a very turbulent year for many, but do remember to stay safe and observe the COVID-19 protocols in your respective jurisdiction!

    With best wishes,

    Alicia

    CTLD Blog

    Image by monicore from Pixabay

  • Our top 7 global trade policy developments in 2020

    Our top 7 global trade policy developments in 2020

    Image by druckfuchs from Pixabay

    Alicia Nicholls

    Season’s greetings! It is that time of the year when we on the CTLD blog do our annual Global Trade Policy Year in Review! And wow, has it been a year! In the Caribbean, we saw the renewal by the United States (US) of the Caribbean Basin Trade Partnership Act (CBTPA) extending preferential access to the US market for qualifying goods from beneficiary Caribbean countries up until 2030. We also saw a formalisation of greater collaboration between the Caribbean Community (CARICOM) and the regional private sector. But what about the global stage?

    In our final blog article for the year, we will look at some of the top trade policy developments globally which impact on the Caribbean and on which we will be keeping an eye in 2021.

    1. COVID-19 impact on global trade and FDI

    This time last year we heard rumblings of a new virus which had broken out in Wuhan province in China. However, most of us did not foresee that a year later the world would be in the grip of a full-blown pandemic which has, at the time of writing, killed 1.69 million people globally.

    Globally, the pandemic has had a significant impact on global supply chains and global travel trade. In its October 2020 forecast, the WTO predicts a 9.2% decline in the volume of world merchandise trade for 2020, followed by a 7.2% rise in 2021. According to UNCTAD’s October forecast, global FDI flows contracted 49% in the first half of 2020 due to the COVID-19 outbreak.

    While the COVID-19 death toll in the Caribbean still compares ‘favourably’ to other regions internationally, the economic toll on the region, especially its tourist-dependent economies, has been less forgiving. The region’s tourism-based economies are predicted by the IMF to contract significantly (-9.9%) in 2020.

    The good news is that there are now two promising vaccines which have already gotten approval by the UK and US governments so far. However, with on-going spikes, the news of a new variant of the virus affecting the UK and uncertainty over how soon poorer countries will have access to a vaccine, the COVID-19 pandemic and its fall-out will be with us well into 2021 with implications for both policy makers and businesses engaging in cross-border trade.

    2. WTO at a cross-roads

    With the WTO celebrating its 25th anniversary of existence this year, one would be forgiven for having some optimism that there would be some progress on the myriad of issues facing the organization, of which the Appellate Body crisis is among the most dire. However, many of the problems plaguing the guardian of the rules-based multilateral system have spilled over into this year, while some new problems have cropped up.

    Perhaps, most frontally is that the WTO now faces a ‘leadership void’ following the surprise resignation by then Director-General Roberto Azevedo in May 2020 and the US’ blocking of the appointment of Dr. Ngozi Okonjo-Iweala who beat out seven other candidates to be deemed the candidate most likely to achieve consensus. A highly qualified development economist, Dr. Iweala’s appointment would have been historic for being not only the WTO’s first female DG, but its first from Africa. The question of the DG selection has been postponed to next year, another item on the WTO’s growing list of unfinished business.

    Negotiations on eliminating harmful fisheries subsidies will continue next year as the much hoped for breakthrough on an agreement did not materialise. WTO Members also failed to agree on a proposed waiver to the Trade-related Intellectual Property Rights (TRIPS) Agreement to temporarily exempt COVID-19 drugs, vaccines etc from intellectual property rights to assist developing countries’ ability to access to these drugs. The WTO Twelfth Ministerial Conference due this year had to be postponed owing to the COVID-19 pandemic. According to Bloomberg’s reporting, a special General Council meeting will be held early next year to decide on the location and date.

    That is not to say that there has not been some progress, however. Joint Statement Initiative negotiations have begun with the hope of an agreement on investment facilitation for development, for example. Some WTO members, spearheaded by the EU, were able to agree on a workaround to the Appellate Body crisis by creating the Multi-Party Interim Arbitration Appeal (MPIA) mechanism but this is only a temporary solution and still has not received significant uptake by the WTO membership as yet.

    Without doubt, the WTO remains at a cross-roads which puts the efficacy and future of the rules-based multilateral trading system at stake. What direction the WTO will take hinges a lot on what will be the incoming Biden/Harris administration’s approach to these issues.

    3. US Election – A reverse course in US trade policy?

    Come January 20, 2021, President-elect Joseph R. Biden will be the new President of the US and Vice President-elect Kamala Harris, the daughter of Indian and Jamaican parentage, will be the VP. President-elect Biden has openly embraced a return to multilateralism, a stark departure from the ‘America-first’ policies pursued by his predecessor.

    On China, however, there might not be much policy divergence between the Biden and Trump administrations, at least not initially. The nomination of Taiwanese-American attorney and chief trade counsel for the United States House Committee on Ways and Means, Katherine Tai, as the next US Trade Representative (USTR) demonstrates that China will be an important policy issue for the incoming Biden/Harris administration. Ms. Tai was formerly the USTR’s chief counsel for China trade enforcement, signaling a possible continued hard-lined stance towards China under the administration.

    Importantly, as noted previously, it remains to be seen what will be the incoming Biden/Harris administration’s approach to the current crises facing the WTO, including the WTO DG and Appellate Body issues.

    4. RCEP Signed

    China, Japan and South Korea – three of the countries in Asia with which the Caribbean has the most trade with that region – were among the signatories on November 15, 2020 to the long-awaited Regional Comprehensive Economic Partnership (RCEP) agreement on the sidelines of the virtually held 37th Association of South East Asian Nations (ASEAN) summit. RCEP is the first mega-regional trade agreement (MRTA) to be concluded since the Trans-Pacific Partnership (TPP) was signed in 2016. The benefits of RCEP to the parties extend beyond merely lowering tariffs. Although, some parties to the RCEP agreement already have FTAs with each other, RCEP will streamline customs procedures, converge rules of origin requirements and promote regulatory harmony across the fifteen parties. India, notably, has not signed on to the agreement, having pulled out of the negotiations last year. As Caribbean countries seek to expand and diversify their trade with non-traditional partners, such as with those in the Asia-Pacific region, the region should consider what possible opportunities RCEP might pose for Caribbean-Asia/Pacific relations.

    5. Post- Brexit Negotiations: Still no deal

    The UK’s departure from the EU on January 31 this year triggered an eleven month transition period due to end December 31 and during which time the UK remains in the EU customs union and single market and is bound by EU rules as if it were still an EU member.

    As at the time of writing this article, the UK and EU are still in the throes of negotiations to conclude a trade agreement which would ensure a smooth transition, especially for UK and EU businesses reliant on EU-UK trade. The negotiations will continue this Monday after another deadline (Sunday) was missed. The talks are reportedly hung up on three main issues: fishing, ‘leveling the playing field’ and governance. Both the EU and UK have announced contingency measures in the event of a ‘no deal’ scenario.

    From January 1, 2021, the UK will no longer benefit from EU third country agreements. In order to maintain preferential access to those markets, the UK has been signing roll-over agreements, largely replicating the provisions of the existing EU agreement with that third State. The UK signed a similar agreement with CARIFORUM countries – the UK-CARIFORUM EPA – which rolls over the provisions of the EU-CARIFORUM EPA (which remains in force for CARIFORUM and the EU-27 countries) to ensure that CARIFORUM firms and traders would have continued preferential access to the UK market and vice versa.

    6. UNCTAD XV postponed to April 2021

    UNCTAD XV, which was due to be hosted this year in Barbados, has been postponed to October 2021 due to uncertainty surrounding the COVID-19 pandemic. Barbados would be the first small State to host an UNCTAD quadrennial. Hosting and chairing the UNCTAD XV will give Barbados the opportunity to influence UNCTAD’s global trade and development agenda for the next four years and will definitely be a space to watch in 2021.

    7. Post-Cotonou agreement reached between EU and ACP

    On December 3, negotiators from the European Union (EU) and the Organisation of African, Caribbean and Pacific States (OACPS) (formerly known as the ACP) finally reached a twenty-year post-Cotonou partnership agreement. Though the post-Cotonou Partnership Agreement is not a trade agreement, it is an overarching framework for the relationship between the EU-27 and the 79 members of the OACPS and covers issues such as human rights, sustainable development, the environment, among other things. The agreement will be signed later in 2021. The OACPS, whose name was changed and a revised Georgetown Agreement adopted at its December 2019 meeting, is currently embarking on a restructuring to make the organisation ‘fit for purpose’.

    We look forward to monitoring these developments in 2021.

    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. All views herein expressed are her personal views and should not be attributed to any institution with which she may from time to time be affiliated. You can read more of her commentaries and follow her on Twitter @LicyLaw.

  • Caribbean Trade and Development News Digest – December 13-19, 2020 – CHRISTMAS EDITION

    Caribbean Trade and Development News Digest – December 13-19, 2020 – CHRISTMAS EDITION

    Season’s Greetings! Welcome to the final Caribbean Trade and Development News Digest for the year 2020. 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 – December 13-19, 2020.

    Thank you for your readership of this Digest over the past year and we take this opportunity to wish you and your families a very Merry Christmas and a happy, healthy and prosperous 2021!

    THIS WEEK’S HIGHLIGHTS

    With entrenched differences still existing, WTO members failed to meet their 2020 deadline for reaching an agreement on eliminating harmful subsidies for illegal, unreported and unregulated fishing which contribute to overfishing. Negotiations will continue into 2021. Read more here.

    Negotiations between the EU and UK on a post-Brexit deal will continue this Monday after another deadline (this Sunday) was missed. The talks are hung up on three main issues: fishing, ‘leveling the playing field’ and governance. Read more here.

    The UK has taken steps to formalise its independent tariff policy to be applied from January 1, 2021. Importantly, of interest to Caribbean sugar exporting countries, Britain is to allow 260,000 T of tariff-free raw sugar imports. Read more here.

    Australia has signalled it will ask the WTO to settle its dispute with China on the latter’s imposed tariffs of 80.5% on Australian barley. China, which is the largest importer of Australian barley, has justified its anti-dumping duties on Australian barley by accusing Australia of subsidising its barley farmers. Read more here.

    WHAT WE’RE READING – AMBASSADOR BERNAL’S NEW BOOK!

    Next year we will be adding a new section to the Blog entitled “What we’re reading” where we will highlight newly released books of a trade and development nature, particularly those with a Caribbean or small State focus. This week we are pleased to be reading the new book by renowned Caribbean scholar, trade expert and author Professor the Hon. Ambassador Dr. Richard Bernal entitled “Corporate versus National Interest in US Trade Policy: Chiquita and Caribbean Bananas”. In this latest book, Ambassador Bernal not only details how Chiquita Brands International was able to influence the Clinton Administration to challenge the EU on its preferential import regime for ACP bananas, but how this move was actually inimical to the US’ national security interests given the negative impact it had on Caribbean banana-exporting countries. Like his previous four books, Ambassador Bernal’s latest work is a must-read for any student or practitioner of trade policy and may be purchased here.

    REGIONAL NEWS

    FATF removes The Bahamas from the list of Jurisdictions under Increased Monitoring

    FATF: The FATF now de-lists The Bahamas from the list of Jurisdictions under Increased Monitoring. The Bahamas is therefore no longer subject to the FATF’s increased monitoring process. The Bahamas will continue to work with CFATF to improve further its AML/CFT regime. Read more

    SIB report on Belize’s economic performance

    Amandala: Merchandise exports for the period January to October 2020 totaled just over $325 million, down 9.9 percent or $35.9 million from the same period last year, when total domestic exports were valued at $360.9 million. Read more

    Dominica’s DCPS Vows To Fight On Over Caricom Soap

    Jamaica Gleaner: Dominica Coconut Products Successors Limited, DCPS, has confirmed that it is contemplating legal action to press its claim that the duty-free importation into Jamaica of noodles or chips from which soaps are made is illegal. Read more

    Trade policies top regional manufacturers’ agenda

    Stabroek: Business communities across CARICOM are likely to be waiting with bated breath to determine whether last month’s establishment of a new CARICOM Manufacturers Association (CMA) will serve as an eventual precursor to the building of sturdier bridges among member countries of the regional movement in the areas of manufacturing and trade. Read more

    Pledge for Bajan exports to bounce back

    Barbados Today: An all-out effort will be made to boost Barbadian exports in 2021, the minister for manufacturing has promised. Read more

    Visitor arrivals a fraction of “normal” seasonal arrivals, says airport official

    Barbados Today: Barbados can expect close to 20,000 visitors to fly into the island this month, significantly down from its monthly average of well over 200,000. Read more

    Inclusive tourism on the cards in Barbados

    Barbados Today: Come January next year, the Ministry of Tourism is expected to engage in a national consultation in an effort to map out a new “inclusive and sustainable” tourism product for Barbados. Read more

    UK to compensate victims of immigration scandal from the Caribbean

    Loop News Barbados: Britain will step up compensation for thousands of long-term UK residents originally from the Caribbean who were wrongly caught up in a government drive to reduce illegal immigration, officials said Monday. Read more

    Launching Paris – A CARICOM Moment of Ambition: Snapshots of Member States Nationally Determined Contributions

    CARICOM: Several Caribbean Community Member States showcased their ambitions to further address climate change at a CARICOM Moment of Ambition event held on the eve of the fifth anniversary of the adoption of the Paris Agreement, on Friday 11 December 2020. Read more

    INTERNATIONAL NEWS

    OACPS Ministers endorse new OACPS-EU Partnership Agreement, proposals on Fisheries and the EU Blacklist at 111st session of the Council of Ministers

    OACPS: Meeting virtually on 14, 15 and 17 December 2020, the Council of Ministers of the Organisation of African, Caribbean and Pacific States (OACPS) approved eight decisions and two resolutions on key issues affecting its Member States (MS) and pertaining to the administrative and financial management of the Organisation during the 111th session of the OACPS Council of Ministers. Read more

    Trump trade chief wants WTO leadership race reopened

    BBC: The US has suggested that the process to find a new Director-General of the World Trade Organization (WTO) needs to be reopened, in what would be an unprecedented move. Read more

    Legislation for the UK’s independent tariff policy

    Gov.uk: From the 1 January 2021 the UK Global Tariff will replace the EU’s Common External Tariff as the UK’s Most Favoured Nation tariff – the framework it will use to trade independently outside of free trade agreements. Read more

    U.K.’s Johnson to Visit India in January as Trade Talks to Start

    Bloomberg: U.K. Prime Minister Boris Johnson will visit India in January to try to boost ties, with talks on a free-trade agreement due to start next year. Read more

    Taking China to the World Trade Organisation plants a seed. It won’t be a quick or easy win

    ABC (Australia): Australia is reportedly ready to initiate its first litigation against China at the World Trade Organisation. China has this year taken punitive action against imports of Australian coal, wine, beef, lobster and barley. Read more

    UK and Mexico sign trade deal

    Gov.uk: The UK has today (Tuesday 15 December) signed a trade deal with Mexico, locking in tariff-free trade and other benefits for British businesses and consumers. Read more

    UK and US in talks over mini trade deal

    BBC: The outgoing US administration is in talks with the UK to try to seal a mini-deal to reduce trade tariffs, Donald Trump’s trade chief has said. US Trade Representative Robert Lighthizer told the BBC he was hopeful for a deal that could see punitive tariffs on Scottish whisky lowered. Read more

    What are Australian-style and Canadian-style Brexit trade deals?

    The Conversation: Negotiations for a post-Brexit trade deal between the European Union and the UK have been ongoing since March. Both have until the end of the Brexit transition period – December 31 – to strike a free trade deal. If no agreement is reached, the UK-EU trading partnership will be governed by World Trade Organization (WTO) rules. Read more

    WTO Members Delay Agreement on Fisheries Subsidies to 2021

    IISD: World Trade Organization (WTO) members did not conclude negotiations on an agreement on curbing harmful fisheries subsidies by the 2020 deadline. A new schedule for meetings in 2021 is being developed, with the aim of bringing “this negotiation to the finish line.” Read more

    Ban on food aid restrictions blocked at WTO

    Reuters: World Trade Organization members were at odds on Friday over a proposal that would ban countries from restricting food aid deliveries, potentially complicating the response to a feared COVID-fuelled humanitarian catastrophe next year. Read more

    We’re proud of what we’ve done, says Trump’s trade chief

    BBC: He rarely talks to the media, but mindful of the legacy of four years of ripping up the international trade system, he told the BBC he had fundamentally reoriented the trade system towards working Americans, and that President Trump’s successor would not now change this sceptical stance to slow down and reverse globalisation. Read more

    Trade deal: Hope ‘early harvest’ proposition of India will be accepted by UK, says Piyush Goyal

    Economic Times: Commerce and Industry Minister Piyush Goyal on Thursday hoped that the UK would accept India’s ‘early harvest’ proposition within the framework of a larger free trade agreement, which both the countries are working towards. Under an early harvest arrangement, two trading partners significantly reduce or eliminate customs duties on a limited number of goods with a view to promoting trade. Read more

    Mercosur debates on revising Common External Tariff

    ANBA: Brazil’s FM said in a meeting of the highest-level agency of the bloc that revising its CET is a priority and will benefit international trade and investments. Read more

    Argentina assumes temporary presidency of MERCOSUR

    Radio Cadena Agramonte: In a speech in which he opted for more and better Southern Common Market (MERCOSUR), Argentine President Alberto Fernández called today to overcome the globalization of indifference and build the universalization of solidarity. Read more

    Argentina: Mercosur will address EU environment concerns

    AP: South America’s Mercosur countries will address environmental concerns raised by the European Union that have stalled ratification of a free trade deal between the two trade blocs, Argentina’s foreign minister said Monday. Read more

    Uruguayan president warns of post-pandemic protectionism at Mercosur Summit

    XinhuaNet: Countries should be wary of turning to protectionist trade measures in a bid to shore up their pandemic-hit economies, Uruguay’s President Luis Lacalle Pou said on Wednesday. Read more

    Asean to accelerate digital integration for period of post-COVID economic recovery

    Khmer Times: To boost regional recovery in the post-COVID 19 era, Asean should accelerate its digital integration, which has the potential to generate a $1 trillion uplift in gross domestic product (GDP) by 2025, said Dr Aladdin D. Rillo, deputy secretary-general for Asean Economic Community, at an online panel. 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: