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  • Caribbean Trade and Development News Digest – October 4-10, 2020

    Caribbean Trade and Development News Digest – October 4-10, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of October 4-10, 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

    The next WTO Director-General will be female! Nigeria’s Dr. Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee are the two finalists for selection as the organisation’s seventh DG. Read more here.

    The EU foreign investment screening mechanism is operational. In March 2019, the EU had adopted a regulation setting up a framework for the screening of investments from non-EU countries (foreign direct investment) that may affect security or public order and will apply as of October 11. Read the full press release here.

    CARICOM has released a statement strongly condemning the EU’s inclusion of some CARICOM States on its blacklist of non-cooperative tax jurisdiction.

    REGIONAL NEWS

    Trinidad & Tobago Govt, Caricom to help service sector

    Newsday: In order to better assist the recovery of regional service industries during the pandemic, the Ministry of Trade and Industry will partner with Caricom to develop a strategy for the recovery of the service sector, according to acting permanent secretary Ayleen Alleyne-Ovid. Read more

    Trade survey assesses exports services sector

    LoopTT: Trinidad and Tobago is, now more than ever, closer to obtaining accurate data on trade to improve the sector. This is as a result of a recent survey executed by the Arthur Lok Jack Global School of Business. Read more

    Cuba says it’s contained coronavirus outbreak, plans to open for tourism next week

    CNBC: Thirteen of Cuba’s sixteen provinces will now be open to tourism as the country says it’s successfully curbed coronavirus infections with strict measures and a curfew. Read more

    Accelerating trade between Jamaica and China now possible

    Jamaica Observer: Trade between Jamaica and China is to be accelerated with the launch of the Jamaica China Business Forum (JCBF), which aims to increase exports between the two countries. Read more

    Caribbean Trade Legislation Passes U.S. Senate

    Caribbean National Weekly: Legislation which extends the United States-Caribbean Basin Trade Partnership Act (CBTPA) through 2030, passed the U.S. Senate last month by unanimous consent,” the Guyana-based Caribbean Community (CARICOM) Secretariat reported. It said HR 991 passed the House on September 23 and the “legislation will come into force when signed by President Donald Trump. Read more

    Standards for nutrition labels coming

    Barbados Today: By the end of this month, officials are expected to decide on long-awaited standards for front nutrition labels on locally and regionally manufactured food and drink products. Deryck Omar, Chief Executive Officer of the CARICOM Regional Organization for Standards and Quality (CROSQ), said the time was quickly approaching for the organisation to receive the draft document from the technical team. Read more

    Standards and quality still important

    Barbados Today: Barbados and other Caribbean Community (CARICOM) states are being warned that now is not the time to “slack” on investment in quality and standards, even as they seek to cut back on spending as a result of the COVID-19 pandemic. Read more

    DDA introduces ‘Safe in Nature’ brand concept for Dominica’s tourism industry

    Dominica News Online: In its continuing efforts to uphold the national protocols for safeguarding both locals and visitors, the Discover Dominica Authority (DDA), alongside the Ministry of Tourism and stakeholders in that sector, has introduced the ‘Safe in Nature’ brand concept. Read more

    Statistical Institute of Belize: Export revenues fall by over 15 percent between January and August

    Breaking Belize News: Тhе lаtеѕt Ехtеrnаl Тrаdе Вullеtіn (ЕТВ), рublіѕhеd bу thе Ѕtаtіѕtісаl Іnѕtіtutе оf Веlіzе, ѕауѕ thаt Веlіzе mаdе 15.7 реrсеnt ($46.9 mіllіоn) lеѕѕ іn ехроrt rеvеnuеѕ fоr thе mоnthѕ Јаnuаrу-Аuguѕt 2020, thаn fоr thе ѕаmе реrіоd іn 2019. Read more

    JAMPRO Seeks Greater Support for Export Max

    JIS: President of Jamaica Promotions Corporation (JAMPRO), Diane Edwards, is appealing for more private-sector companies to partner with the entity in executing the Export Max programme. Read more

    Taiwan, Belize sign pacts on trade, legal assistance and aviation

    Focus Taiwan: Taiwan and Belize have reached three separate agreements to promote and strengthen their diplomatic ties through bilateral cooperation in the fields of trade, legal assistance and aviation. Read more

    UK appoints new trade envoy to the Caribbean

    Jamaica Observer: Britain’s Prime Minister, Boris Johnson, has appointed Darren Henry as the new trade envoy to the Commonwealth Caribbean. A British government statement said that the Commonwealth Caribbean markets will include Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St Lucia, St Vincent and the Grenadines, St Kitts and Nevis and Trinidad and Tobago. Read more

    Building Post COVID CARICOM Food Security – A Cassava Industry

    Stabroek: These difficult months of the COVID pandemic have once more brought to the fore the need to address our long term food security. Our accessibility to food has been disrupted as incomes have decreased due to reduced formal and informal employment opportunities. Read more

    INTERNATIONAL NEWS

    China faces ‘difficult trade-off’ as WTO leadership race heads into final round

    South China Morning Post: The field of candidates to lead the World Trade Organization (WTO) was cut to two on Thursday, in a historic move that means the Geneva-based body will get its first female director general. Read more

    China says U.S. TikTok, WeChat bans break WTO rules

    Reuters: China said at a World Trade Organization meeting that restrictions by the United States on Chinese mobile applications TikTok and WeChat are in violation of the body’s rules, a trade official said. Read more

    Brexit: Trade negotiators meet, as deadline looms

    BBC: EU chief negotiator Michel Barnier has met his UK counterpart in London for the latest round of talks on their post-Brexit trading relationship. Read more

    UK statement to the WTO Committee on Government Procurement

    Gov.uk: The UK’s Ambassador to the WTO in Geneva, Julian Braithwaite, delivered this statement at the WTO’s Committee on Government Procurement. Read more

    EU and UK teams pin hopes on ‘tunnel’ talks to deliver Brexit deal

    The Guardian: British and EU Brexit negotiators have renewed belief that the bloc’s leaders will be able to usher in an intense and decisive “tunnel” negotiation for the last weeks of October when they meet at a summit in Brussels on Thursday. Read more

    Brexit: EU and UK in choppy waters over fishing rights

    France24: Fishing rights have been one of the main sticking points in Brexit negotiations between the European Union and the United Kingdom since March. Yet neither side appears ready to concede, despite mounting fears within the fishing industry over the consequences of a “no-deal” exit. Read more

    Post-Brexit: Britain and EU agree to pursue ‘mini-deals’ if talks fail next week

    The Times: British and EU negotiators have agreed to keep talking to offset the most disruptive aspects of a no-deal Brexit even if trade negotiations break down. Read more

    Britain open to Aussie-style EU trade deal but Australia wants more

    Reuters: As Britain’s negotiations with the European Union on a post-Brexit trade deal go down to the wire, Prime Minister Boris Johnson says his country could trade with the bloc on similar terms to Australia, if no agreement is reached. Read more

    UK and Ukraine sign Political, Free Trade and Strategic Partnership Agreement

    Gov.uk: The agreement will ensure ambitious cooperation in political, security and foreign matters with Ukraine, while also securing continued preferential trade for businesses and consumers. Read more

    Cambodia-China Free Trade Agreement to be signed by Monday during Chinese State Councilor’s visit

    Khmer Times: Wang Yi, State Councilor and Minister of Foreign Affairs of the People’s Republic of China, will pay an official visit to the Kingdom of Cambodia on October 11-12, 2020. Read more

    Turkey-US trade volume improves despite COVID-19 pandemic

    Daily Sabah: A free trade agreement between Turkey and the U.S. would mutually liberalize trade in certain sectors and give a boost to bilateral ties, Deputy Trade Minister Rıza Tuna Turagay said, as the two NATO allies move toward their $100 billion trade goal. 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:

  • The US 2020 Presidential Elections: What’s at stake for the Caribbean?

    The US 2020 Presidential Elections: What’s at stake for the Caribbean?

    Photo source: Pixabay

    Alicia Nicholls

    On November 3, the American electorate, including Caribbean-Americans, will officially cast its vote for the next President of the United States (US). The choice is between the incumbent far right Republican president and businessman, Donald Trump, and the more centrist Democratic nominee and former Vice President (VP) in the Obama Administration, Joe Biden. Quoting data from the US Elections Project, a Reuters report of October 6, 2020 revealed that some four million Americans have already voted early, reportedly “more than 50 times the 75,000 at this time in 2016”.

    The Caribbean never features as a major foreign policy topic in US presidential campaigns, although the Venezuela crisis and China’s growing influence in the region have caused some disquiet in Washington in recent years. But while the Caribbean has ebbed and flowed in its geopolitical significance to US policymakers, we in the region are frequently glued to our television sets, or in this era, smart devices, whenever US presidential election season comes around. Quite simply, we have a vested interest in who determines US government policy making. This is because our northernly neighbour is not just a super power, the region’s largest trading partner, a provider of development assistance and our most important tourism source market. The US is also the home to the region’s largest diaspora and the main source of remittance flows to the region. Indeed, this time around, Caribbean people have another reason to be invested in this election cycle; Joe Biden’s VP nominee, current US Senator for California, Kamala Harris, is of Jamaican and Indian ancestry.

    Let me state upfront that this article is in no way intended to influence the voter choice of any reader and does not represent an official endorsement of any candidate. Instead, it aims to academically discuss some of the major issues on the ballot in this election which directly or indirectly affect Caribbean countries and the Caribbean diaspora living in the US. It seeks to do so by critically examining the policy positions of the two major party candidates, Trump and Biden, on these issues.

    The candidates’ positions vs Caribbean countries’ interests

    President Trump and former VP Joe Biden generally differ significantly in their stated approaches to issues such as foreign policy, trade, climate policy, immigration, race relations, economic policy and Cuba relations – issues of importance to the Caribbean. Both candidates’ positions can be discerned not just from their campaign promises but their records; Trump as the incumbent and Biden on his experience as President Obama’s VP and as a former long-time US Senator for Delaware.

    Foreign Policy and Trade Policy

    With respect to foreign and trade policy, President Trump has been dogged in his nativist, unilateral, neorealist and neomercantilist ‘America first’ outlook. His record includes escalating trade tensions with China, antagonizing traditional US allies, withdrawing from the Trans-Pacific Partnership (TPP), renegotiation of trade agreements like the North American Free Trade Agreement (now the US-Mexico-Canada Agreement) and the Korea-US FTA (KORUS). He also formally announced the US’ withdrawal from the World Health Organization (WHO) in the middle of a global pandemic, withdrew from the Iran Nuclear Deal, and repeatedly threatened to withdraw from the World Trade Organization (WTO) over its alleged lenient trade treatment of China. The Trump Administration’s blockage of (re)appointments of members (judges) to the WTO’s Appellate Body over longstanding US concerns with that body’s operation has led to the body’s paralysis after it no longer had a quorum needed to hear an appeal. This led some WTO Members to sign on to a temporary solution – the Multi-party Interim Appeal Arrangement (MPIA) to which the US has not committed.  

    It is, therefore, fortuitous for the region that the Trump Administration, which has insisted on reciprocity in its trade dealings with States, opted to successfully apply for another WTO waiver for the Caribbean Basin Initiative – the unilateral preferences scheme allowing duty free access to the US market for most Caribbean goods. The Caribbean Basin Trade Partnership Act (CBTPA), one of the CBI’s constituent Acts, appears on track for renewal after expiring on September 30, 2020. The Administration’s seeming support of this programme may be because the Caribbean has a large trade deficit with the US, posing no real threat to US jobs, and the programme is viewed as beneficial to US industry. Moreover, the Trump Administration has provided some technical and financial assistance to Caribbean governments in the fight against COVID-19, and the significant oil finds in Guyana have influenced deeper US government and private sector engagement with that country.

    Joe Biden, who represents a more traditional outward-looking US foreign policy orientation has extolled multilateralism, vowing that under his presidency the US would, inter alia, rejoin the Paris Agreement to which it had originally committed under his Obama/Biden administration. Biden’s views on trade, however, appear inward looking, appealing to the crucial voting bloc of blue collar workers who feel jilted by globalization. Political exigencies mean that there will likely not be the wide open-armed embrace of free trade under the Biden administration, evidenced by his pledge to prioritise nearshoring of supply chains and expansion of the ‘Buy America’ initiative. Without doubt, however, his trade policies will be more predictable and stable than his opponent’s, providing greater certainty for trading partners. Biden has also been more supportive of the WTO. This aligns with the interest of Caribbean countries which, despite its flaws, are major supporters of retaining the WTO’s two tiered dispute settlement system and of the rules-based multilateral trading system, more broadly.

    Climate Change

    This brings us to another fundamental issue for the Caribbean – the candidates’ views on climate change which presents an existential threat for our Caribbean small island developing States (SIDS). President Trump continues to deny the existence of anthropogenic (man-made) climate change despite, inter alia, a record-setting Atlantic Hurricane Season this year, and has rolled back many of the pro-environment policies enacted by his predecessors. Biden, by contrast, has a dedicated Biden Plan for Climate Change in which he pledges to ensure the US ‘achieves a 100% clean energy economy and reaches net-zero emissions no later than 2050’ and to address the disproportionate impact of climate change on vulnerable communities and investment in clean energy.

    Immigration Policy

    Another ‘big-ticket’ item for the region is the US’ immigration policy. In 2017, some 4.4 million Caribbean immigrants lived in the US, according to the Migrant Policy Institute. Although this point is almost never raised, US-Caribbean migration is not one-way, as there are American immigrants living in Caribbean countries as well. Americans also reportedly comprise the majority of applicants under Barbados’ digital nomad visa programme – the Barbados Welcome Stamp.

    Despite two of his three wives being immigrants themselves and his mother having been an immigrant from Scotland, President Trump has taken a virulent anti-immigrant stance exemplified by the infamous ‘Muslim ban’, the inhumane child separation policy at the US-Mexico border and making legal migration to the US more difficult.

    In contrast, Biden in his Immigration Plan has pledged a ‘fair and humane immigration system’ in which he promises to undo his predecessor’s harmful policies; modernize America’s immigration system; reassert America’s commitment to asylum-seekers and refugees; tackle the root causes of irregular migration and implement effective border screening. The proof, of course, will be in the implementation.

    Race Relations

    Additionally, as a region whose population is predominantly non-white, the deteriorating race relations, the rise in hate groups and institutionalized racism in the US will be of concern to the Caribbean. Widespread protests over longstanding police brutality and racial injustice came to a head this year when a video circulated showed a white police officer kneeling on the neck of an unarmed black man, George Floyd, for several minutes causing his death. This was preceded by the police killing of an innocent black woman, Breonna Taylor, in her apartment pursuant to a no-knock warrant issued for the wrong residence. Police violence is not foreign to the Caribbean community living in the US as Botham Jean, a St. Lucian expat working at international accounting firm PWC in Dallas, Texas was shot and killed in 2018 in his own apartment by an off-duty police officer who claimed to have walked into the wrong apartment and thought he was an intruder. Jean’s killer was found guilty of murder but was sentenced to only ten years’ imprisonment and is currently appealing her sentence. While President Trump has been lukewarm in his condemnation of these incidents and downplayed the existence of institutionalized racism, Joe Biden has released plans for promoting racial justice and other issues affecting the black, native American and other marginalized communities. 

    Economic Policy

    Due to the US’ economic and commercial importance in the region, the health of the US economy has direct implications for the Caribbean. President Trump campaigned on ‘bringing back American jobs’ and his first term economic plan has largely focused on tax cuts and less successfully, aggressive trade policies, raising tariffs and demanding that American multinational national enterprises (MNEs) reshore jobs from China and other countries back to the US. However, President Trump has seen slippage in his once strong public support on his handling of the economy, particularly in light of his questionable handling so far of the COVID-19 outbreak. The US Bureau of Economic Analysis (BEA) reported that the US’ real gross domestic product (GDP) decreased at an annual rate of 31.4 percent in the second quarter of 2020.

    Biden’s economic recovery plan, though not perfect, proposes expanding ‘Buy America’ campaigns, prioritizes support for small businesses, greater research and development, widening access to health care and education, improving America’s infrastructure, promoting clean energy and racial equity. Some of these proposals, which aim to create jobs and stimulate economic activity, will include spending increases adding to the US deficit and tax hikes for the wealthy, and are unlikely to be passed if Republicans control the Congress.  

    Handling of COVID-19

    The US government’s handling of the COVID-19 pandemic will be another area of concern for the region. As at October 9, 2020, the US had recorded some 214,000 COVID-19 fatalities and 7.5 million positive cases. Minority communities, which include some Caribbean diaspora communities, have been among the most affected by the outbreak. Moreover, Caribbean countries dependent on US tourist arrivals have had to play the delicate balance of encouraging US tourism while trying to protect their own citizens from the risk of COVID-19. President Trump has downplayed the virus and frequently derided mask-wearing, even after he and many of his White House staffers contracted the virus. His approach has instead focused on promoting unproven treatments.

    Biden, who has publicly supported mask-wearing, has proposed a seven-point COVID-19 plan focuses, inter alia, on testing and contact tracing, improving access to personal protective equipment (PPE), implementing national masks mandates and equitable distribution of equipment, treatments and vaccines.

    Cuba relations

    Caribbean countries have long criticized the US’ illegal and unjustified economic and trade embargo against that hispanophone nation. CARICOM has a Trade and Economic Cooperation Agreement with Cuba and the détente in US-Cuba relations under the Obama administration made trade between Cuba and the Caribbean logistically and politically easier. President Trump, however, has taken a hardline stance against Cuba, reinstituting many of the restrictions which had been rolled back during his predecessor’s second term in office.

    Biden has called for a ‘new Cuba policy’ and while he has not given specifics, probably in an effort not to alienate Cuba-American voters in Florida, he has criticized President Trump’s policy towards that country as ‘not working’. However, it is unlikely that even if he wanted, Biden would be able to end the embargo without a Democratic-controlled Congress. Three Republican Senators introduced a bill threatening Caribbean countries which accepted medical assistance from Cuba as part of their efforts to fight the COVID-19 outbreak.  

    Other issues

    Of caution, however, is that Caribbean countries should consider the harsh stance President Obama took against Caribbean international financial centers (IFCs), branding them repeatedly as ‘tax havens’. It is unclear whether Biden would continue such an approach. It was also under the Obama Administration that saw the implementation of the extraterritorial Foreign Account Tax Compliance Act (FATCA) entering into effect in 2014 which, simply put, coerced countries to sign agreements in which they committed their financial institutions to report on the assets held by US account holders in an effort to combat tax evasion by US taxpayers.

    President Obama’s initiatives in the region also focused primarily on security issues than economic development issues.  And while he signed the US-Caribbean Strategic Engagement Act of 2016 months into his final term, President Obama’s administration continued the US’ failure to amicably resolve the US-Antigua gambling dispute years after the twin-island State won its case against the US at the WTO. It remains to be seen what will be Biden’s approach to US-Caribbean relations.

    No normal election

    This is by no means a ‘normal’ US election. First, President Trump has constantly undermined confidence in the electoral process through unfounded allegations of ‘rampant’ voter fraud and a ‘rigged election’. Second, this election will be occurring in the middle of a pandemic and it is unlikely that the projected winner will be known on election night as has been traditionally the case. COVID-19 fears might also dampen voter turnout on Election Day. Third, although early voting turnout has been high, there have been reports of voter intimidation,  interference with the US Postal service, attempts to purge voter rolls in certain ‘red States’, all of which can negatively impact voter turn-out, especially among minorities. Fourth, similar to the ‘lock her up’ chants he encouraged during the 2016 campaign, President Trump has again called for his Attorney-General to indict and arrest his opponent, Joe Biden, as well as other prominent democrats. Fifth, President Trump has repeatedly refused to commit to a peaceful transfer of power if he loses the election, and coupled with his claims of voter fraud, may lead to heightened civil unrest. Therefore, while Biden has been leading in national polls for some time, his win cannot be taken as a foregone conclusion.

    In conclusion

    This article sought to show that the outcome of this high-stakes US presidential election will have non-negligible implications for US government policy making on issues consequential for Caribbean countries. While it is herein argued that the policy positions espoused by the democratic nominee appear generally better aligned with Caribbean interests, this is not to suggest, for reasons already stated, that a Biden win will automatically be a net positive for the Caribbean. Assuming a Biden victory and a peaceful transfer of power in January 2021, the extent to which Biden can advance his legislative agenda will be largely determined by whether Democrats retain their majority in the House of Representatives and can also flip the currently Republican-controlled Senate. A hostile Congress can thwart any President’s legislative agenda.  Moreover, while it is hoped that Senator Harris’ Caribbean ancestry will have a positive influence on a Biden Administration’s policy towards the Caribbean, the primary focus of the Administration will understandably be on rescuing the US economy and bringing the COVID-19 outbreak under control. Regional governments will likely still have to lobby the Administration and work with congressional allies on advancing the issues of concern to our countries. That said, a Biden Administration would, hopefully, signal the return to some semblance of stability and predictability to US policy after what could only be described as a chaotic and strange last four years.

    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.

  • WTO on track to select first female Director-General

    WTO on track to select first female Director-General

    Alicia Nicholls

    The World Trade Organization (WTO) is on track to select its first female Director-General (DG). Out of an original field of eight candidates which was later narrowed down to five, the two finalists for consideration to become the global trade watchdog’s seventh Director-General are Nigeria’s Dr. Ngozi Okonjo-Iweala and South Korea’s  Yoo Myung-hee.

    If either candidate wins the support of the WTO’s diverse membership of 164, it will be the organisation’s first female DG after a quarter century of existence.

    Who are the finalists?

    Both women are highly qualified and experienced in the political and international relations fields, although their areas of expertise differ. Dr. Ngozi Okonjo-Iweala, who has both Nigerian and US citizenship, has not only held ministerial portfolios in Nigeria, but also spent many years as an economist at the World Bank where she eventually rose to the position of Managing Director – the Washington-based institution’s second highest position. If selected, Dr. Okonjo-Iweala would be the first African to lead the WTO. She beat out fellow African country nominees, Ms. Amina Mohamed of Kenya and Mr. Abdel-Hamid Mamdouh of Egypt who had been among the eight original candidates. Ms. Mohamed, however, had been among the five candidates to advance to the second round.

    Ms. Yoo Myung-hee is a lawyer and South Korea’s current Minister of Trade and brings twenty-five years of career experience in the international trade field. She was involved in several key negotiations including the Korea-China Free Trade Agreement, the renegotiation of the Korea-US FTA (KORUS) and the on-going Regional Comprehensive Economic Partnership (RCEP). If selected, she would be the second Asian to hold the WTO’s top position, after Thailand’s Supachai Panitchpakdi held the post from 2002-2005.

    The DG selection process commenced shortly after then DG Roberto Azevedo’s surprise announcement that he would be demitting office a full year before his second and final term was due to expire. The process is currently in its third and final round of consultations and the final selection is set to occur by early November once Members can agree on whom they prefer.

    What does it all mean?

    The prospect of a female WTO DG is, of course, a progressive, symbolic and promising step for an institution which is one of the most important in the global economic governance architecture.

    However, symbolism aside, regardless of whichever candidate eventually emerges victorious, she will have a monumental task on her hands. That is, she will have to help save an organization which is badly in need of reform and facing mounting pressure and criticism from once staunch advocates of the multilateral trading system.

    Some of the many issues include the stalled negotiations function, the current Appellate Body impasse, threats of a US exit from the WTO if incumbent US President Donald Trump wins the November presidential elections, US-China tensions, and growing disagreement among members over the current model of ‘special and differential treatment’.

    Moreover, it should be recalled that the post of Director-General has few executive powers. The WTO is a Member-driven organisation, meaning that the eventual DG will have to frequently harness her soft power for any progress to be made in addressing the myriad of issues affecting the organization. As such, while technical knowledge and experience are important, perhaps doubly important would be each finalists’ skills of negotiation and capability of inspiring the trust, goodwill and confidence of the WTO’s membership.

    May the best woman for the task win!

    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 – September 13-19, 2020

    Caribbean Trade and Development News Digest – September 13-19, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of September 13-19, 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

    And then there were five! The race for who will be the next Director-General of the World Trade Organization (WTO) has narrowed from eight candidates to five: Amina Mohamed (Kenya), Ngozi Okonjo-Iweala (Nigeria), Mohammad Maziad Al-Tuwaijri (Saudi Arabia), Yoo Myung-hee (South Korea), and Liam Fox (The United Kingdom).Read more here.

    A WTO dispute settlement panel found that additional tariffs imposed in 2018 by the US on Chinese goods contravened the US’ obligations under international trading rules. Read the panel report here. The WTO’s latest Services Barometer shows “modest gains in some key sectors, suggesting a degree of resilience in the face of the pandemic”. Read more here.

    Regionally, US Secretary of State Michael Pompeo made a state visit to Guyana this week where he also met with the Secretary-General of the Caribbean Community (CARICOM), H.E. Irwin LaRocque. The renewal of the Caribbean Basin Trade Partnership Act (CBTPA), due to expire at the end of this month, was among the topics discussed during the meeting. Read more here.

    REGIONAL NEWS

    Pompeo asks Suriname, Guyana to favour US business over China

    Al Jazeera: Pompeo becomes the first US secretary of state to visit the two South American states where oil was recently discovered. Read more

    CARICOM SG raises economic fallout from pandemic with Pompeo

    Stabroek: The severe economic fallout from the COVID-19 pandemic on CARICOM countries was one of the issues raised yesterday by Secretary-General Irwin LaRocque with visiting US Secretary of State, Mike Pompeo. Read more

    OECS Foreign Ministers Discussed Blacklisting Of Tax Havens By European Union

    St Kitts Nevis Observer: The meeting addressed issues of critical concern to the Organization and its Member States including key developments in the international arena; the ongoing negotiations between the Organization of African, Caribbean and Pacific States (OACPs) and the European Union (EU) on a new Agreement post-Cotonou; blacklisting of States as “non-cooperative tax jurisdictions” by the European Union, BREXIT and its implications for Cariforum/UK Trade and Economic Relations; and strategic joint diplomatic and commercial engagement in specified jurisdictions. Read more

    Caribbean countries record 50 per cent decline in visitor arrivals in first six months of 2020

    Jamaica Observer: Caribbean countries have recorded a 50 per cent decline in tourist arrivals up to the month of June this year, a senior official of the Caribbean Tourism Organisation (CTO) said earlier this week. Read more

    Barbados to establish diaspora unit and four new embassies

    BGIS: The Diaspora Unit, according to Dame Sandra, will be a platform for advancing Barbados’ economic interests abroad through the Barbadian diaspora and Friends of Barbados communities, which were described as under-used assets with regard to their networks, skills and resources. Read more

    Why Congress Needs to Renew Caribbean, GSP Trade Programs Now

    US Chamber: Washington is no stranger to “must pass” legislation, and the end of the fiscal year on September 30 and the recent lapse in several pandemic response measures rightly command congressional attention. But lawmakers should not overlook the need to renew two soon-to-lapse trade programs that support American jobs: The Caribbean Basin Trade Partnership Act (CBTPA) and the Generalized System of Preferences (GSP). Read more

    Jose Mai: Time to put agriculture first in Belize

    Breaking Belize News: Веlіzе ѕhоuld lооk tо Мехісо fоr а раrtіаl ѕсоре аgrееmеnt оn ехроrt, аnd tаkе аdvаntаgе оf оur раrtnеrѕ tо rеbuіld аgrісulturе thrоugh аn ехраndеd рrоgrаm іn ѕсhооlѕ. Read more

    Gov’t Pledges To Put Brakes On JSWIFT Hiccups

    Jamaica Gleaner: The Ministry of Industry, Investment and Commerce, in responding to a Gleaner article about the Jamaica Single Window for Trade (JSWIFT) published on Tuesday, said the portal will soon become much swifter. Read more

    Cuba shuts down interprovincial transportation due to new COVID-19 fears

    Reuters: Cuban state media reported on Saturday interprovincial transportation would be shut down and a curfew in Havana extended until the end of the month as a surge in COVID-19 cases in the capital spreads to other areas. Read more

    INTERNATIONAL NEWS

    Brexit: NI told to start work on checkpoints at sea ports

    BBC: A letter from the UK government to Stormont’s Agriculture Department instructs it to start work on check-points at NI’s sea ports without delay. The letter, seen by BBC News NI, says it is critical checks are in place, stating such moves are in accordance with the Northern Ireland protocol. Read more

    Biden or Trump, no guarantee of a post-Brexit U.S.-UK trade deal

    Reuters: U.S. presidential candidate Joe Biden’s recent warning that Britain must honor Northern Ireland’s 1998 peace agreement to secure a U.S. trade deal adds new complexity to already tough trade talks between the United States and the U.K. Read more

    Tariff showdown with Trump a shallow victory for Canada

    Niagara Falls Review: Donald Trump’s decision to cancel tariffs on Canadian aluminum imports is a short-term win for Ottawa. In the long run, however, it is anything but. Read more

    A brewing U.S.-China tech cold war rattles the semiconductor industry

    CNBC: As trade tensions mount between the U.S. and China, the U.S. semiconductor industry fears a tech cold war could disrupt the global supply chain. Now companies on both sides of the Pacific are trying to develop strategies to mitigate risk — whether it’s hoarding supplies or looking at shifting the location of production facilities. Read more

    How Will the Coronavirus Pandemic Permanently Change the Travel Trade?

    TravelPulse: As with all monumental global events, the coronavirus pandemic will create permanent change throughout the world, including the travel advisor community. Read more

    U.S. calls off tariffs on Canadian aluminum — for now

    CBC (Canada): The United States hit the pause button on tariffs on Canadian aluminum today, agreeing to withdraw current penalties — at least until after the presidential election in November. Read more

    US companies seeking tariff relief faced red tape, delays

    AP: Companies seeking relief from President Donald Trump’s taxes on imported steel and aluminum ran into long delays and cumbersome paperwork, a federal watchdog found. Read more

    Global service trade decline shows signs of bottoming out – WTO

    Reuters: A contraction in global trade in services caused by the COVID-19 pandemic is showing signs of bottoming out, the World Trade Organization said on Thursday as its trade barometer index fell to a record low. Read more

    Top UN economists warn of crises of our own making if global ‘megatrends’ left unchecked

    UNCTAD: Five human‑made “megatrends” will continue to dominate and frustrate global efforts to put the world on a more sustainable and prosperous path, unless urgent policy interventions to influence them are taken now, the UN Economist Network warned today in a new report. Read more

    Nigeria working to attract more foreign direct investments to prepare for AfCFTA – Trade Minister

    Nairametrics: Nigeria’s Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said that Nigeria is actively working to attract more foreign direct investments into key industries to meet the demands of the African Continental Free Trade Area (AfCFTA). Read more

    Zimbabwe: Rules of Origin Key to Success of AfCFTA

    AllAfrica: The protocol of trade in goods is comprised of 32 articles and nine annexes in the Africa Continent Free Trade Agreement (AfCFTA). Annex 2 of the protocol of trade in goods focuses on rules of origins and is complemented by various appendixes. Read more

    Ghanaian businesses need support to ‘win’ under AfCFTA – AGI

    Ghanaweb: Business setbacks such as high cost of power, access to capital, among others, remain a concern for Ghanaian industries, and if the government wants to “win” with the African Continental Free Trade Area (AfCFTA), it needs to ensure businesses are supported to become competitive, the Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Cleanse Akpeloo, has said. Read more

    Mauritania Finalizes AfCFTA Implementation Strategy

    AllAfrica: The Ministry of Trade, Industry and Tourism of the Islamic Republic of Mauritania and the ECA Office in North Africa will hold today in Nouakchott (Mauritania) a workshop to validate the national strategy for the implementation of the African Continental Free Trade Area (AfCFTA). Read more

    Ukraine, Turkey restart free trade agreement talks

    MENAFM: Ukraine and Turkey have restarted the negotiation process on signing a free trade agreement. Read more

    Most Canadians don’t understand trade deals, but support free trade: report

    iPolitics: Survey findings released by the federal government suggest Canadians have little understanding of their country’s international trade agreements, including the recently negotiated United States-Mexico-Canada Agreement (USMCA). Read more

    Do the WTO and the 1972 Free Trade Agreement guarantee Swiss access to the EU market?

    Swissinfo.ch: The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading. Read more

    India engaging with ASEAN to review FTA: Piyush Goyal

    Financial Express: In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Read more

    France says opposes EU-Mercosur trade deal over deforestation concerns

    Buenos Aires Times: France opposed to free-trade deal in its current form due to “major” concerns about deforestation in the region, the government said on Friday. Read more

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