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  • Caribbean Trade and Development News Digest – December 6-12, 2020

    Caribbean Trade and Development News Digest – December 6-12, 2020

    Welcome to the Caribbean Trade and Development News Digest for the week of December 6-12, 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.

    THIS WEEK’S HIGHLIGHTS

    This week, the WTO Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs) officially adopted a package of six recommendations and declarations aimed at addressing challenges smaller businesses face when trading internationally. Read more

    In further news, the WTO Director-General’s latest annual overview of trade-related developments shows a marked slowdown in the number of trade-restrictive and trade-facilitating measures adopted by WTO members related to goods trade over the past year. Read more

    On the Brexit front, the UK and EU are making a final push for a post-Brexit trade deal which remains stuck on some unresolved issues. Meanwhile the EU Commission has published Brexit contingency measures in the event of a no deal scenario.

    CARICOM and Cuba held their 7th Summit Meeting. Read the final declaration published from the meeting here. The UNCTAD 15 Quadrennial to be hosted in Barbados will be held in October 2021 instead of April 2021. News of the further date shift was announced this week. Read/watch the statement announcing the date change here.

    Our friends at DC-based consulting firm Manchester Trade published an interesting paper entitled “Despite the Dislocation of Covid, Africa Defies the Odds with the Commencement of AfCFTA Trading on January 1, 2021”. Have a read here.

    Top regional scholar Ambassador Dr. Richard Bernal has published a new book entitled “Corporate versus National Interest in US Trade Policy: Chiquita and Caribbean Bananas” which looks at the Banana trade wars. Congratulations Ambassador Bernal! Read more here.

    REGIONAL NEWS

    Guyana National Working Group to address trade concerns in CARICOM markets

    Stabroek: A National Working Group has been formed by the Ministry of Foreign Affairs and International Cooperation to address the barriers faced by Guyana’s products in CARICOM markets. Read more

    Guyana Hosts Public Consultation On CARICOM Single Registration Bill

    St Kitts & Nevis Observer: The Government of Guyana has commenced public consultations on the CARICOM Single Registration Bill, bringing together local professional associations and stakeholders in a virtual meet. Read more

    Caricom Soap War, Round 2 – Jamaican Manufacturers Lose Duty-Free Access To Regional Market

    Jamaica Gleaner: Jamaican soap manufacturers have lost a year-long battle for continued duty-free exports to the Caricom market of 18 million people. The loss comes after a successful challenge in late November at Caricom’s Council for Trade and Economic Development, COTED, by the government of Dominica on behalf of a soap and soap input producers in the tiny Caribbean nation of 72,000 people. Read more

    Guyana to become arbitration hub

    The Daily Herald: A proposal to revamp Guyana’s arbitration laws and practice has been accepted by the government of Guyana. The Attorney General and Minister of Legal Affairs, Anil Nandlall has engaged the services of retired Justice of the Supreme Court of Belize, Courtney Abel, to undertake the task of upgrading Guyana’s existing arbitration legislation and make recommendations on developing the country into an arbitration empire. Read more

    Camagüey aims for better results in exports and foreign investment

    Radio Cadena Agramonte: Increasing new items for export, increasing the competitiveness and economic value of products, and promoting foreign investment projects are some of the objectives of the Chamber of Commerce of the Republic of Cuba in the provinces of Camagüey and Ciego de Ávila for the year 2021. Read more

    Over 600 Heads of Cattle to be Exported from Belize to Mexico

    News5: A ceremony to commemorate the exportation of another consignment of cattle to Mexico was held today at Blue Creek Village, in the Orange Walk District. Read more

    SIB: Belize Export revenue down almost 10 percent from January to October

    Breaking Belize News: Веlіzе’ѕ ехроrt rеvеnuеѕ hаvе fаllеn durіng thе fіrѕt 10 mоnthѕ оf 2020, ассоrdіng tо thе lаtеѕt Ехtеrnаl Тrаdе Вullеtіn іѕѕuеd bу thе Ѕtаtіѕtісаl Іnѕtіtutе оf Веlіzе. Read more

    CDB issues emergency relief grants for creative industries sector

    Menafn: The Caribbean Development Bank (CDB) has awarded US$ 100,000 in grant funding to seven cultural projects through an initiative to provide emergency relief to the creative industries (CI) sector in the wake of COVID-19. Read more

    Blue Power loses Country of Origin Certificate

    LoopJamaica: The company has advised that it has been notified by the relevant Government Ministries that COTED, an organ of CARICOM, has ruled that Jamaica (Trade Board) should not issue any Certificates of Origin for soaps manufactured under the current manufacturing process in Jamaica. Read more

    Progress In Barbados’ Fight To Be Removed From EU Blacklist

    CBC.bb: Barbados is making major progress in its fight to be removed from the European Union’s blacklist. Minister of International Business and Industry, Ronald Toppin says the island’s application to the Organization for Economic Cooperation and Development (OECD) for a supplemental review has been approved. Read more

    BIDC Exploring Opportunities

    Barbados Advocate: Minister of International Business and Industry Ronald Toppin is giving local manufacturers and exporters the assurance that 2020 will not be a wasted year. He said that his Ministry and by extension the Barbados Investment & Development Corporation (BIDC) are very focused on “arresting opportunity out of every crisis faced presently and in the future”. Read more

    No clear position yet on labelling

    Barbados Today: Barbadian stakeholders are deadlocked over a common local position on a proposed draft CARICOM Standard for Front-of-Package-Labelling (FOPL). Read more

    TTMA pushing to increase exports

    Newsday: It is without a doubt that the covid19 pandemic has shattered world trade, but even as the profit margins were not as expected, the TT Manufacturers’ Association (TTMA) said new markets have emerged which this country is more than capable of tapping into. Read more

    Jack: Tobago on cusp of raising exports

    Newsday: The Tobago House of Assembly (THA) is looking at the potential of raising the levels of exports on the island. Read more

    Foreign workers from CARICOM, Americas needed to propel Guyana’s growth- Canadian envoy

    Demerara Waves: Outgoing Canadian High Commissioner to Guyana, Lilian Chatterjee said Guyana evidently does not have a large population or required skilled persons to take advantage of the wealth expected to pour in from the petroleum sector. Read more

    Cuba 2020 Business Forum promotes exports and foreign investment

    Radio Cadena Agramonte: The Cuba 2020 Business Forum allows the promotion of exportable goods and services from both the state and private sectors, since representatives from 93 countries participate in the meeting. Read more

    INTERNATIONAL NEWS

    Leaders to push Brexit trade talks beyond Sunday deadline

    Reuters: London and Brussels agreed to “go the extra mile” in coming days to try to reach an elusive trade agreement despite missing their latest deadline to avert a turbulent ‘no deal’ exit for Britain from the European Union’s orbit at the end of the month. Read more

    Brexit: Which countries has the UK agreed trade deals with?

    Sky News: From the Faroe Islands to Switzerland, the UK has signed trade deals with a wide variety of nations. Read more

    Sterling falls as no-trade deal Brexit fears build

    CNBC: Sterling skidded lower on Friday and implied volatility surged as markets increasingly priced the risk of Britain breaking away from the European Union at the end of the month without a trade agreement. Read more

    EU states to act to implement any UK trade deal swiftly – sources

    Reuters: The 27 EU member states welcomed Sunday’s extension of UK trade talks and committed to taking “all the necessary steps” to put in place any deal reached by negotiators as soon as possible, according to a coordinated response described to Reuters. Read more

    The potential impact of Brexit without a trade deal

    RTE: Britain and the European Union are seeking a post-Brexit trade deal, with failure likely to result in increased chaos in mutual trade, financial markets tumbling and huge economic costs. Here are some of the potential pressure points of a failure to reach agreement on trade. Read more

    Climate change: Covid drives record emissions drop in 2020

    BBC: The global response to the Covid-19 pandemic has driven the biggest annual fall in CO2 emissions since World War Two, say researchers. Read more

    Biden picks longtime China critic Katherine Tai as top U.S. trade official

    CNBC: President-elect Joe Biden on Thursday named Katherine Tai, a trade lawyer with a history of taking on China, as his incoming administration’s pick for the United States’ top trade representative. Read more

    US-China trade war: Joe Biden hints he will keep up pressure on Beijing with pledge to fight ‘unfair trade practices’

    SCMP: Joe Biden has said his nominee for trade chief Katherine Tai will target abusive trade practices by China in a possible sign that Donald Trump’s trade war will continue. Read more

    COVID-19 drives large international trade declines in 2020

    UNCTAD: According to UNCTAD’s latest nowcasts (run on 8.12.2020), the value of global merchandise trade is predicted to fall by 5.6% in 2020 compared with last year. This would be the biggest fall in merchandise trade since 2009, when trade fell by 22%. This is a significantly more optimistic nowcast than only a few weeks ago when UNCTAD nowcasts were estimating a fall of 9%. Read more

    Trade agreement with Pacific enters into force

    Mirage: Farmers, businesses and investors across Australia and the Pacific will have their trade opportunities boosted from today with the Pacific Agreement on Closer Economic Relations Plus (PACER Plus) coming into force. Read more

    Money laundering groups ‘exploiting trade finance transactions’, task force warns

    GTR: Trade finance is being exploited by criminal groups in order to launder funds and finance terrorist activity, according to a landmark report published by an influential financial crime monitoring body. Read more

    Trade-based Money Laundering: Trends and Developments

    FATF/Egmont: A new FATF-Egmont Group report entitled “Trade-based Money Laundering: Trends and Developments” published this week aims to help public and private sector with the challenges of detecting trade-based money laundering. Read the report here.

    Canada to challenge U.S. softwood lumber export duties through World Trade Organization

    Global News: Canada said it will be considering “all of its legal options” to challenge Canadian softwood lumber export duties unveiled by the United States last month, the international minister of trade said Friday. Read more

    Time Running Out for Brexit Deal, ​E.U. Seeks to Avoid Jan. 1 Chaos

    New York Times: The measures, which require British agreement, would cover air and road travel, freight and fishing for six months, to prevent immediate chaos should the transition period end without a trade pact. Read more

    UAE, Israel export credit agencies sign agreement to boost trade

    Reuters: The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries, the UAE’s state news agency WAM said. Read more

    UK and Egypt sign Association Agreement

    Gov.uk: British Ambassador to Egypt signs agreement with Egypt’s Assistant Foreign Minister for Europe, to strengthen political and trade ties between the two countries. Read more

    U.K., Vietnam Reach Free-Trade Deal as Brexit Deadline Looms

    Bloomberg: Vietnam and the U.K. concluded a free-trade agreement that will see 99% of tariffs between the two countries eliminated after seven years. Read more

    New flagship project on the Africa Continental Free Trade Area (AfCFTA) spotlights trade opportunities for women and youth in Africa

    Africa News: Africa Continental Free Trade Area (Afcfta) Secretariat and the African Union in partnership with the UNDP, launched ‘The Futures Report: Making the AfCFTA Work for Women and Youth’. The launch event was organized in the run up to the upcoming the Extraordinary Summit of AU Heads of State and Government on the AfCFTA, scheduled for 5 December. Read more

    How AfCFTA Can Help Solar Power Penetration in Africa

    AllAfrica: Only about 43% of Africa’s population has access to electricity, a number that is half the global access rate of 87%. This is according to the 2019 World Bank World Development Indicators; Demographic and Health Surveys; Multiple Indicator Cluster Surveys; National Surveys. Africa needs to catch up with the rest of the world, but with a growing population which is projected to double to nearly 2,4-billion by 2050, access to electricity is a critical challenge that needs to be urgently addressed. Read more

    Singapore to sign free trade agreement with Pacific Alliance next year

    Channel News Asia: Singapore plans to sign a free trade agreement with the Pacific Alliance, which comprises Chile, Colombia, Mexico and Peru, next year, Prime Minister Lee Hsien Loong’s press secretary said on Friday (Dec 11). Read more

    India Govt plans to restart trade pact talks with Biden team: S. Jaishankar

    Livemint: India expects to restart negotiations for a free trade agreement with the US once President-elect Joe Biden’s administration enters, Foreign Minister Subrahmanyam Jaishankar said. Read more

    China-Africa trade falls 10 per cent on pandemic, commodities slump

    SCMP: Trade between China and Africa fell by 10.6 per cent in the first 11 months from a year ago amid the pandemic, but analysts expect a rebound next year as key commodities like oil and copper recover. Read more

    Japan and South Africa agree to beef up post-pandemic business ties

    Japan Times: Japan and South Africa agreed at their foreign ministers’ meeting in Pretoria on Saturday to strengthen post-pandemic business ties, with many Japanese companies looking to enter the emerging market as a key gateway to the whole African continent. Read more

    Ethiopia and Kenya inaugurate new border post to boost trade

    Africa News: Ethiopian Prime Minister Abiy Ahmed and his Kenyan counterpart President Uhuru Kenyatta inaugurated a new border post on Wednesday in the Kenyan town of Mayale to bolster trade. Read more

    UK to host the Africa Investment Conference in the New Year

    Gov.uk: The UK Department for International Trade has announced it will host the Africa Investment Conference on 20 January 2021, bringing together UK and African businesses for a one-day virtual event to explore the opportunities for partnership and investment. Read more

    Australia accuses China of undermining trade agreement

    BBC: Australia has accused China of undermining their free trade agreement over a series of actions by Beijing against Australian export goods. 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:

  • Full Interview with CARICOM’s Assistant Secretary-General, Joseph Cox – 51st COTED Meeting – VIDEO

    Full Interview with CARICOM’s Assistant Secretary-General, Joseph Cox – 51st COTED Meeting – VIDEO

    Many critical issues were on the agenda at the last CARICOM Council for Trade and Economic Development (COTED) meeting held virtually November 26-27, 2020. The 51st COTED meeting was chaired by Hon. Oneidge Walrond, Guyana’s Minister of Tourism, Industry and Commerce. Some of the issues discussed were a “Made in CARICOM” initiative, greater private sector engagement, the COVID-19 pandemic, among others.

    In the interview below published on CARICOM Assistant Secretary-General’s Youtube channel, ASG Cox discusses the main issues and outcomes from this important meeting.

    Watch the full interview below here:

  • Final Declaration of the 7th CARICOM-CUBA Summit Meeting

    Final Declaration of the 7th CARICOM-CUBA Summit Meeting

    From the CARICOM Secretariat:

    We, the Heads of State and Government of the Caribbean Community (CARICOM) and the Republic of Cuba, gathered via videoconference on 8 December, 2020, on the occasion of the 7th CARICOM-Cuba Summit held in commemoration of the 48th anniversary of the diplomatic relations between the four CARICOM independent States and Cuba and the 18th anniversary of CARICOM-Cuba Day;

    Proud of our shared Caribbean identity and the progress of our political and cooperative relations that have been strengthened by our arrangements, exchanges and coordination at international forums to the benefit of our peoples, and guided by the principles of solidarity and complementarity;

    Recalling the Declarations of our Summits of Havana in 2002, Bridgetown in 2005, Santiago de Cuba in 2008, Port of Spain in 2011, Havana in 2014, and Saint Mary’s in 2017;

    Aware of our need to work together, particularly in the economic and environmental areas, for the sustainable development of our nations in a manner that helps us build more inclusive, just and equitable societies, and address our shared vulnerabilities as Small Island Developing States and countries with low-lying coastal areas;

    Deeply grieved by the loss of lives and concerned by the extensive socioeconomic effects of the COVID-19 pandemic and the devastating weather events that have worsened the multiple crises faced by mankind today;

    Welcoming the medical assistance provided to the Member States of CARICOM by the Government of Cuba in response to the COVID-19 pandemic

    Highlighting the importance of pooling our efforts in order to improve the productivity, infrastructure, and air and sea connectivity in our countries, and expand our economic and trade ties, through the implementation of the Revised CARICOM-Cuba Trade and Economic Cooperation Agreement; 

    Underlining the significance of consolidating the Community of Latin American and Caribbean States (CELAC) as a mechanism for political consultation, the promotion of our regional unity and integration, and the defence of our regional interests in international affairs and our relations with third-parties; and 

    Reaffirming the effectiveness of the Proclamation of Latin America and the Caribbean as a Zone of Peace, signed in Havana in January 2014.

    HAVE AGREED AS FOLLOWS:

    1. Reiterate that our regional unity and integration are based on our absolute respect for the Purposes and Principles enshrined in the United Nations Charter and International Law; in particular, the principles of sovereignty, self-determination, territorial integrity, non-interference in the internal affairs of States, peaceful settlement of disputes, the prohibition on the use or threat of force; as well as the promotion and protection of human rights for all.
    2. Underscore the importance of defending our regional unity for the preservation of the peace and stability of our countries.
    3. Welcome the outcomes of the 6th CARICOM-Cuba Meeting of Ministers of Foreign Affairs held in Georgetown, Guyana, on 14 June, 2019, which agreed on the need for more cooperation, as well as increased trade and investment.
    4. Reaffirm our will to strengthen South-South cooperation as an expression of solidarity, for the promotion of bilateral and regional programs, as well as triangular cooperation for development, with regard paid to national priorities.
    5. Express our will to continue to receive Cuban medical cooperation in recognition of its contribution to the wellbeing of the Caribbean people; in particular, its valuable human resources which were added to the fight against the COVID-19 pandemic.  We reject any attempt to discredit, distort or disrupt Cuban medical assistance, an important aid to the region and to Caribbean healthcare system.
    6. Share our best experiences in the management of the COVID-19 pandemic and other epidemiological conditions that are common to the Caribbean, and assess the possible application of innovative Cuban biotech medicines in the prevention and treatment of this pandemic.
    7. Recognize that the cooperation maintained between Cuba and the CARICOM Member States in the areas of health, human-resource training, construction, sports, education, environmental protection, and natural disaster risk reduction and mitigation, has effectively contributed to the development and wellbeing of our peoples.
    8. Continue the implementation of the Center for Stimulating the Development of Children and Young People with Special Educational Needs in Guyana.
    9. Maintain the exchanges so that the Regional School of Arts in Jamaica can start to operate.
    10. Acknowledge our commitment to finding avenues that promote our economic and commercial relations by identifying our strengths and possible complementarities, and by implementing and relying more on the Second Protocol to the CARICOM-Cuba Trade and Economic Cooperation Agreement.    
    11. Note that the Cuban economic model update, the Cuban foreign investment law and the Mariel Special Development Zone offer broad and additional opportunities for the intensification and reinforcement of the economic ties between CARICOM and Cuba.
    12. Recognize the promotion of sustainable tourism as one of the keys to economic development in the Caribbean region, and agree to strengthen our cooperation in this sector, including the implementation of multi-destination tourism in accordance with the terms of the Memorandum of Understanding between the Government of the Republic of Cuba and CARICOM States signed at the 6th CARICOM-Cuba Summit. 
    13. Emphasize that, given the scope of its impact, climate change represents one of the greatest challenges faced by our nations, the repercussions of which are particularly serious in developing countries; especially in Small Island Developing States.  For this reason, we commit to expanding our exchanges in the context of CARICOM and at relevant international agencies, in order to mitigate its adverse effects.
    14. Underline that adaptation to the impact of climate change constitutes an immediate and urgent global priority.
    15. Strengthen our cooperation in the protection of the environment and the sustainable use of our resources; in particular, those of the Caribbean Sea.  In this regard, we support the efforts made by the Association of Caribbean States to designate the Caribbean Sea as a “Special Area in the Context of Sustainable Development,” within the UN framework.
    16. Welcome the actions jointly implemented by our countries in order to reduce the risks of natural disasters and note the agreement signed between the Cuban Civil Defense Authority and the Caribbean Disaster Emergency Management Agency for the purpose of expanding and integrating our regional early warning systems.  We recognize the joint efforts made to train a number of Caribbean first-response bodies, as well as Cuban and Caribbean specialists in the management of responses to natural disasters.
    17. Renew our call for a review and modification of the current “graduation” criteria for the receipt of Official Development Assistance to properly reflect the realities and specific needs of the highly indebted middle-income countries; in particular, the Caribbean States, and to integrate the different dimensions of sustainable development included in the 2030 agenda, considering that the current criteria fail to reflect our actual levels of economic and social development or the multidimensional effects of poverty, inequality and vulnerability.
    18. Express deep concern over the inclusion of certain CARICOM Member States in lists of non-cooperative tax jurisdictions and call for a change in this approach which serves to negatively impact the economies of those countries that have shown their readiness to cooperate and engage in dialogue in order to find mutually advantageous solutions for the parties.
    19. Express deep concern over and rejection of the progressive decline in correspondent banking relations being experienced by developing nations; in particular, CARICOM Member States, due to the de-risking actions by some of the major international banking corporations, which threatens the financial stability of the affected countries and limits their efforts to achieve development and socioeconomic growth.
    20. Highlight the importance of reparation and compensation, as an act of justice, for the damages caused by slavery, indentured servitude and native genocide in the Caribbean.
    21. Reject the imposition of unilateral coercive measures and, in that context, call for an immediate and unconditional end of the economic, commercial and financial blockade implemented by the Government of the United States of America against Cuba, and the termination of the US persecution of Cuban financial transactions, the relentlessness of which has increased.  Reiterate our firm rejection of the enforcement of extraterritorial laws and measures, such as the Helms-Burton Act, which grossly violate International Law and undermine the sovereignty and interests of third parties.
    22. Express our gratitude to the Government of the Republic of Cuba for its arrangements for this 7th Summit of the Heads of State and Government of CARICOM and Cuba held via videoconference.
    23. Hold the 8th CARICOM-Cuba Summit in 2023, and the 7th CARICOM-Cuba Ministerial Meeting in the Republic of Cuba in June 2022.
    24. Adopted on this 8th day of December 2020.
  • Caribbean Trade & Development News Digest – November 29 – December 5, 2020

    Caribbean Trade & Development News Digest – November 29 – December 5, 2020

    Season’s Greetings! Welcome to the Caribbean Trade & Development News Digest for the week of November 29-December 5, 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.

    THIS WEEK’S HIGHLIGHTS

    This week, on December 3, negotiators from the European Union (EU) and the Organisation of African, Caribbean and Pacific States (OACPS) finally reached a twenty-year post-Cotonou partnership agreement. With the clock ticking to December 31 – the end of the UK’s transition period – post-brexit negotiations remain hung up on sticking points.

    For the first time since its establishment, the WTO’s Appellate Body will no longer have a single sitting judge as the term of the last remaining AB member Prof. Dr. Hong Zhao of China expired November 30.

    On December 4, Vanuatu became the sixth country to graduate from the United Nations’ category of Least Developed Country. Read more here

    The UN Commission on Narcotic Drugs has voted this week to reclassify cannabis out of the most dangerous category of drug, i.e. removal from Schedule IV of the 1961 Single Convention on Narcotic Drugs which had discouraged even medicinal use. This reclassification has been hailed as a step forward for some Caribbean countries like Jamaica which have joined a growing number of developed countries in developing a cannabis industry, including making cannabis use legal for medicinal and therapeutic purposes. Read more here.

    Looking regionally, the Caribbean Community (CARICOM) signed an MOU with the recently formed CARICOM Private Sector Organisation towards achievement of the CARICOM Single Market and Economy (CSME). CPSO was designated a CARICOM associate institution on October 29, 2020. Read my article on this deepened CARICOM-private sector engagement here.

    REGIONAL NEWS

    Caribbean welcomes new deal to replace Cotonou Agreement

    Jamaica Observer: The Caribbean has welcomed the political deal reached between chief negotiators for the European Union and the Organisation of African, Caribbean and Pacific States (OACPS), for a new partnership accord to replace the Cotonou Agreement. Read more

    EU Blacklists and the WTO

    News784: In this piece, we have argued that trade agreements, buttressed by their dispute settlement and institutional mechanisms, provide viable avenues for CARICOM MS to address the longstanding problem of their inclusion on arbitrary national blacklists by the EU. Read more

    EU and ACP finalise post-Cotonou treaty, after two-year delay

    Euractiv: Negotiators from the EU and African, Caribbean and Pacific community signed off on a broad 20-year partnership deal to succeed the Cotonou Agreement on Thursday night (3 December) after nearly three years of difficult talks. Read more

    CARICOM asks probing questions at UN special session

    Barbados Today: On December 3 and 4, some 155 Presidents and Prime Ministers participated in a Special Session of the United Nations (UN) General Assembly, to discuss the Corona Virus Disease (COVID-19) and the UN response to the pandemic. Read more

    Port of Bridgetown wins Top Award

    GIS.bb: The Port of Bridgetown has captured the 2020 Novaport Cup for Most Improved Port Performance, emerging the winner among nine regional competing ports. Read more

    Jamaica Government secures partnership to expand e-commerce opportunities for MSMEs

    Jamaica Observer: The Government has partnered with two international firms to deliver digital marketing solutions and e-commerce opportunities to micro, small and medium enterprises (MSMEs) as a mechanism to cope with the impact of physical distancing and other restrictive measures due to the novel coronavirus pandemic. Read more

    COTED endorses Made in CARICOM Initiative

    CARICOM: Trade ministers of the Caribbean Community (CARICOM) have unanimously endorsed a proposal to develop a ‘Made in CARICOM’ promotional initiative which will capitalise on one of the opportunities presented by the pandemic. Read more

    New CARICOM-EU project will tackle climate change and its health impacts in the Caribbean

    PAHO: International, regional, and government leaders announced the launch of a broad-based project to support actions to mitigate climate change and its serious health impacts in Caribbean nations. The EU/CARIFORUM Strengthening Climate Resilient Health Systems Project – a joint project of the European Union and CARICOM that PAHO is coordinating – will advance public understanding of climate change effects and strengthen the ability of health systems to respond to climate-related health impacts. Read more

    Guyana’s private sector must help gov’t push down CARICOM trade barriers- Pres. Ali

    Demerara Waves: Even as a newly-formed Caribbean Manufacturing Association (CMA) plans to explore the production of specialised sugars, Guyana’s President Irfaan Ali on Wednesday called on local manufacturers to aggressively remove trade barriers in the Caribbean Community’s Single Market. Read more

    New Chamber of Commerce to Facilitate Two-Way Trade & Investment Between Canada & Guyana

    Newswire: The Canada-Guyana Chamber of Commerce (CGCC) was officially launched today with a mission to facilitate two-way trade and investment between Canada and one of the fastest growing economies in the world – Guyana. Read more

    Grenada Announces Temporary Ban On Poultry From United Kingdom

    Jamaica Gleaner: Grenada says it will place a temporary ban on the importation of poultry products from the United Kingdom as of Monday. Read more

    Jamaica’s imports and exports decline from January – August 2020

    Jamaica Observer: There was a decline in Jamaica’s imports and exports for January to August 2020 when compared to the similar period in 2019 as released today by the Statistical Institute of Jamaica (STATIN). Read more

    Guyana lacks workforce to benefit from impending `explosive’ growth – Canadian High Commissioner

    Stabroek: Outgoing Canadian High Commissioner Lilian Chatterjee today said that Guyana lacks a skilled and sizeable labour force to benefit from the “explosive” oil-linked growth that is coming and she urged the country not to resist foreign investment but use its judgement on who to trust. Read more

    Entrepreneur touts Dominican Republic-Commonwealth trade ties

    Dominican Today: The president of the Round Table of the Countries of the Commonwealth in the Dominican Republic, Fernando González Nicolás, highlighted the influence that the 54 countries of the Commonwealth have on exports and foreign investment in our nation. Read more

    INTERNATIONAL NEWS

    Vanuatu graduated from LDC status

    UN: On 4 December, Vanuatu became the sixth country to graduate from the least developed country (LDC) category. As noted by the United Nations Secretary-General, this is “testimony to years of effort resulting in hard-won sustainable development gains”. Read more

    ‘Painful’ exit of Chinese member leaves WTO appeals body without a judge and trade dispute cases in limbo

    SCMP: For the first time since the World Trade Organization was set up 25 years ago, its Appellate Body, dubbed the top court for world trade, will have no serving judges after the departure of the Chinese member, curbing the WTO’s capacity to handle disputes. Read more

    China’s former trade chief hits out at ‘groundless’ claims country cannot join CPTPP

    SCMP: Beijing’s former top trade negotiator has dismissed as “groundless” claims that China would not meet strict criteria to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the long term. Read more

    U.S. trade deficit widens by 1.7% to $63.1 billion in October

    CNBC: The U.S. trade deficit widened 1.7% in October to $63.1 billion. The politically sensitive gap in the trade of goods with China and Mexico grew. Read more

    US judge orders Trump administration to restore ‘Dreamer’ immigration program

    Barbados Today: A US judge ordered the Trump administration Friday to fully reinstate a program that protects from deportation immigrants who came to the country illegally as children. Read more

    Why Biden will find it hard to undo Trump’s costly ‘America first’ trade policy

    The Conversation: Since becoming president-elect, Joe Biden has signaled that restoring America’s leadership on the world stage is among his highest priorities – an intention aptly demonstrated by his Cabinet picks. Read more

    India submits new proposal limiting role of WTO dispute panel in fisheries management

    Hindu Business Line: New Delhi’s proposal on exempting developing countries with incomes, fish volume below given threshold to be discussed further. Read more

    Thirteen Extra Ordinary Session on the African Continental Free Trade Area (AfCFTA): The Assembly of the Union adopts decision on the start of trading

    Africa News: African Union Heads of State and Government have underscored the urgent need for member states to kick-start trading activities, under the African Continental Free Trade Area (AfCFTA). The decision was adopted during a virtual meeting of the 13th Extra Ordinary Session of the Assembly of the Union on the AfCFTA, held on Saturday 5 December 2020, under the Chairmanship of H.E. Mr Cyril Ramaphosa, President of the Republic of South Africa and Chairperson of the African Union (AU). Read more

    South Africa to make changes to its borders as it prepares for multi-trillion rand trade deal

    Business Tech: President Cyril Ramaphosa’s cabinet has approved a draft One-Stop Border Policy (OSBP) for public consultation. Read more

    Canada trade deficit shrinks slightly in October, still higher than expected

    Reuters: Canada’s trade deficit narrowed slightly to a still greater-than-expected C$3.76 billion ($2.94 billion) in October as exports grew at a faster pace than imports, Statistics Canada data showed on Friday. Read more

    Cambodia, S. Korea FTA much closer

    Khmer Times: A senior official of the Ministry of Commerce (MoC) said negotiations towards a free trade agreement (FTA) between Cambodia and South Korea saw agreement on 90 percent of the issues addressed as the fourth round of talks concluded last month. Read more

    Envoy: US trade embargo is ‘main obstacle’ to trade between Cuba and other countries

    Khmer Times: Sanctions imposed by the United States (US) are a serious roadblock for Cuba doing business with other countries. This was one of the points made by Cuban Ambassador to Cambodia Liurka Rodriguez Barrios in an exclusive interview conducted at the Cuban Embassy in Phnom Penh. Read more

    WTO members may seek more time to decide on TRIPS waiver to fight Covid-19

    Hindu Business Line: 90-day timeline for decision on the India-South Africa proposal to lapse on December 31, but more deliberations could be needed, say officials. Read more

    Japan urges South Korea to end tariffs on steel bars after WTO ruling

    Japan Times: Japan urged South Korea on Tuesday to immediately remove its anti-dumping tariff on Japan-made stainless steel bars after a World Trade Organization dispute settlement panel decision said an extension of the protections would be a contravention of WTO rules. Read more

    What Janet Yellen’s nomination as Treasury secretary means for U.S. policy on China and trade

    CNBC: Former Federal Reserve Chair Janet Yellen has been nominated by President-elect Joe Biden as his Treasury secretary — a position that would make her, if confirmed by the Senate, a critical figure in U.S. trade negotiations with China. Read more

    WTO Members Reveal “Entrenched” Differences as Fisheries Talks Approach 2020 Deadline

    IISD: “Entrenched” positions regarding the issue of special and differential treatment (S&DT) for developing and least developed countries (LDCs) are presenting a challenge in the negotiations on a World Trade Organization (WTO) agreement that would curb harmful fisheries subsidies. Read more

    Brexit trade talks: What’s at stake if no deal is reached

    Sky News: Tariffs, Northern Ireland, travel and mobile phone roaming charges will all be impacted if the two sides cannot reach agreement. Read more

    STRAIGHT FROM THE WTO

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