Caribbean Trade Law and Development

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  • Caribbean Trade & Development Digest – October 27- November 2, 2019

    Caribbean Trade & Development Digest – October 27- November 2, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of October 27-November 2, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THE WEEK’S HIGHLIGHTS

    ASEAN held its 35th Summit in Thailand on November 2-3. The chair’s statement may be read here. Any hopes of a RCEP deal before the end of this year appear to have been dashed. Read more

    On the Brexit front, the EU has given the UK an extension until January 31st. The UK will also hold a general election on December 12.

    CARICOM representatives will meet in Barbados on Monday, November 4 to discuss the CARICOM Single Market and Economy (CSME). There will also be a Public Town Hall on the CSME that evening.

    REGIONAL NEWS

    Regional consultation on CSME

    BarbadosToday: As Barbados leads efforts to ensure that the CARICOM Single Market and Economy (CSME) is implemented in the region, a special stakeholders’ conference on the subject will take place on Monday, November 4. Read more

    CCJ to give CSME ruling within ‘reasonable time’

    Jamaica Observer: The Caribbean Court of Justice (CCJ) says it will give an opinion “within a reasonable time” as it concluded hearing arguments in the request for an advisory opinion by the Caribbean Community (CARICOM) that could have implications for the CARICOM Single Market and Economy (CSME) that allows for the free movement of goods, skills, labour and services across the region. Read more

    Bahamas’ $75 Million Spiny Lobster Fishery Has Been Set Back Years In The Wake Of Hurricane Dorian

    Forbes: Hurricane Dorian, which battered the Bahamas between September 1st and 3rd 2019, has devastated the islands’ $75 million Caribbean spiny lobster fishery. Read more

    CCJ grappling with advisory opinion on whether CARICOM states can opt out of free movement categories

    Stabroek News: The Caribbean Court of Justice (CCJ) yesterday held the first of two hearings, its first ever advisory opinion proceedings, which concern whether a member state of the Caribbean Community (CARICOM), may opt out of a decision of the Conference of Heads of Government to extend the class of workers allowed to move work freely across CARICOM, and the legal effect of such opting out. Read more

    Central Bank exploring ‘early introduction’ of digital currency on Abaco post-Dorian

    EyeWitnessNews: The Central Bank is exploring whether to bring about an early introduction of digital Bahamian currency on Abaco to enable rapid financial service recovery Central Bank Governor John Rolle said yesterday. Read more

    Barbados exploring ways to widen trade with CARICOM countries

    RJRNews: Barbados is exploring opportunities for development in a wide range of areas in Guyana and Suriname as it responds to a call to deepen trade between member countries of CARICOM. Read more

    Bartlett calls for investment beyond hotel rooms

    Jamaica Observer: Minister of Tourism, Edmund Bartlett has made a call for investment in the tourism industry to go beyond the development of hotel rooms and other infrastructure. Read more

    INTERNATIONAL NEWS

    Global trade: for the people, by the people – Why the world still needs a rules-based trading system

    Medium: For those of us interested in trade issues and global trade sustainability, the World Trade Organization (WTO) Public Forum , held yearly at the WTO Secretariat in Geneva, Switzerland is THE place to be in early October. Read more of this article by trade lawyer Magda Theodate here.

    Angela Merkel calls for ‘fresh attempt’ at EU-India trade deal

    Deutsche Welle: German Chancellor Angela Merkel wrapped up her trip to India with the announcement of a billion-euro investment into green projects in the country. Merkel placed climate change at the center of her talks in India. Read more

    Trade between Iran, EU at nearly €3.5b in 8 months

    Tehran News: According to the latest data provided by the statistical office of the European Union, Eurostat, the trade between Iran and the EU nations has decreased by 75 percent compared to last year’s same period in which the figure stood at €14.292 billion. Read more

    Indonesia reviewing terms of EU trade deal as WTO palm oil spat brews: vice foreign minister

    Reuters: Indonesia’s vice foreign minister Mahendra Siregar said Jakarta is reviewing a draft trade deal with the European Union in the run-up to filing a complaint against the trading bloc with the World Trade Organization (WTO) over use of palm oil in biofuels. Read more

    World’s biggest trade deal to be delayed to 2020: Draft ASEAN statement

    Channel News Asia: The signing of the world’s largest trade pact will likely be kicked back to 2020, according to a draft statement by Southeast Asian leaders, delaying a deal craved by China to offset a painful tariff war with the US. Read more

    Brexit: Johnson agrees to Brexit extension – but urges election

    BBC: Labour has “run out of excuses” to oppose an early election, Boris Johnson has said, as MPs vote on whether to back his call for a December poll. Read more

    Pelosi Calls USMCA ‘Easiest Trade Deal,’ Could Get Vote in 2020

    Bloomberg: House Speaker Nancy Pelosi said President Donald Trump’s new Nafta agreement is the “easiest trade deal that we’ve ever done.” Read more

    Trump ends trade benefits for Cameroon over ‘persistent human rights violations’

    Washington Post: President Trump said he will soon ax Cameroon from a trade program that allows African countries to sell goods to the United States on a duty-free basis, citing “persistent human rights violations” in a letter to Congress on Thursday. Read more

    UK set for 12 December general election after MPs’ vote

    BBC: The UK is set to go to the polls on 12 December after MPs backed Boris Johnson’s call for an election following months of Brexit deadlock. Read more

    ASEAN summit grapples with US-China trade war

    Deutsche Welle: Southeast Asian leaders have gathered in Bangkok for a three-day summit expected to be dominated by trade. ASEAN members are trying to finalize a China-backed plan to create the world’s biggest free trade area. Read more

    RCEP ministers fail to reach agreement

    Bangkok Post: Ministers from 16 Asia-Pacific nations failed to reach an agreement on creating the world’s largest free trade area at their meeting on Friday, a Thai negotiator suggested, but some are optimistic about the chances of a deal by year-end. Read more

    China may impose $3.58 billion in annual trade sanctions on U.S.: WTO panel

    Reuters: A World Trade Organization (WTO) panel said on Friday that China was entitled to slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties – roughly half the amount China had sought. Read more

    WTO panel rejects India’s arguments

    Business Standard: Exporters can rest assured that there is no threat to the Advance Authorisation Scheme, Duty Drawback Scheme and four specified entries under DFIS. 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:

  • Caribbean Trade & Development Digest – October 20-26, 2019

    Caribbean Trade & Development Digest – October 20-26, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of October 20-26, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THE WEEK’S HIGHLIGHTS

    South Korea has agreed to give up its ‘developing country’ status in future negotiations at the WTO. This move is in light of increased US pressure for a change in the current system of self-designation as a developing country at the WTO. Read here.

    The Caribbean Court of Justice (CCJ) held a two-day hearing in its first ever application for an Advisory Opinion. At the end of the second day, the judges indicated that they would deliver their decision in a “reasonable time”. Read more here.

    The World Bank has released its latest Doing Business Report (2020). Find out how the Caribbean fared here.

    REGIONAL NEWS

    Bermuda Launches Two Key Fintech Initiatives, Becomes First Nation to Accept Stable Coins for Government Payments

    National Law Review: On Oct. 16, 2019, Bermuda Premier the Hon. E. David Burt JP, MP announced that Bermuda has committed to accept, for payment of government taxes, fees, and services, 1:1 U.S.-dollar-backed digital currencies of entities licensed by the Bermuda Monetary Authority (BMA) under the 2018 Digital Asset Business Act (DABA), becoming the first nation to do so. Read more

    Antigua To Sell Shares In State-Owned Oil Company

    Jamaica Gleaner: The Antigua and Barbuda government says it is to sell 10 per cent of its shares in the state-owned West Indies Oil Company (WIOC). Read more

    Belize Senate ratifies UK-CARIFORUM trade treaty

    Breaking Belize News: Тhе Ѕеnаtе mеt іn ѕресіаl ѕеѕѕіоn thіѕ mоrnіng іn rесоrd tіmе tо rаtіfу а trеаtу ѕаfеguаrdіng trаdе bеtwееn Веlіzе аnd fеllоw Саrіbbеаn ѕtаtеѕ аnd thе Unіtеd Кіngdоm. Read more

    CARICOM to await CCJ decision on waiver for free movement

    Jamaica Observer: The five (5) Justices of the Caribbean Court of Justice (CCJ) have promised, at a “reasonable time,” to deliver their decision on whether countries within the Caribbean Community (CARICOM) can lawfully, under the legal framework of the organisation, choose to opt-out of obligations set out in the Caribbean Single Market and Economy (CSME) agreement. Read more

    The Caribbean exhibits record of reforms in business sector in 2018

    Prensa Latina: The economies in the Caribbean carried out a record of 19 reforms during 2018 to help private national companies do business, a report released today by the World Bank (WB) says. Read more

    Jamaica Opposition welcomes reversal in Ease of Doing Business ranking

    Jamaica Observer: People’s National Party (PNP) shadow minister of Industry, Competitiveness & Global Logistics Anthony Hylton has welcomed the reversal in Jamaica’s ranking in the World Bank’s Ease of Doing Business Report 2020. Read more

    Agricultural woes: building a domestically and internationally competitive sector

    Dominica News Online: Finding agricultural products that can compete both on the domestic and international markets has been singled out as one of the major challenges facing the sector in the region. Read more

    INTERNATIONAL NEWS

    Nigeria’s border closure has implications for Africa’s economic integration

    The Conversation: Nigeria recently partially closed its border with Benin in an effort to stem the smuggling of rice. It then went on to close its land borders to the movement of all goods from Benin, Niger and Cameroon, effectively banning trade flows with its neighbours. Read more

    China Signs its First African Free Trade Agreement with Mauritius

    China Daily Briefing: China and Mauritius signed a free trade agreement (FTA) on October 17. This is China’s first FTA with an African nation. The agreement will reportedly give Mauritius duty-free access to about 8,547 products, representing 96 percent of Chinese tariff lines. Read more

    RCEP deal hangs in balance even as India, other members resolve some issues

    Livemint: India and other member countries of Regional Comprehensive Economic Partnership (RCEP) may have resolved differences related to investor to state dispute settlement (ISDS) mechanism and data localization, but issues such as India’s demands to shift the base year for tariff cuts to 2019 and an auto-trigger mechanism to check import surge from China may make or break a deal. Read more

    China submits 7th offer to join government procurement agreement at WTO

    Xinhua: China has submitted the 7th offer to join the World Trade Organization’s (WTO) Agreement on Government Procurement (GPA), which added the military sector for the first time, according to the Ministry of Finance. Read more

    China’s New Investment Law a Positive Step, Foreign Firms Say

    Bloomberg: China’s new law governing foreign investment will take effect next year. Read more

    US-China Trade Truce: Cautious Optimism or Reasonable Pessimism?

    Modern Diplomacy: China and the United States have achieved tangible progress in their recent round of trade talks. This has given rise to cautious optimism about the possibility of striking a deal, writes the Chinese edition of Global Times. Read more

    Brexit: European leaders agree extension to 31 January

    BBC: EU leaders have agreed in principle to extend Brexit until 31 January 2020 – meaning the UK will not leave as planned on Thursday. Read more

    Breaking down the path forward for the USMCA

    Politico: With fewer than two dozen legislative days left in the year, the pressing question for the USMCA is not just whether U.S. Trade Representative Robert Lighthizer and House Democrats will be able to reach a deal, but whether they still have enough time to get it done by 2020. Read more

    The EU should be leading this new era of FTAs, shaping new standards and spurring on growth

    Euronews: The next EU Trade Commissioner faces a daunting in-tray. Certainty is in short supply and difficult decisions abound. Many of them are marked urgent. Read more

    China asks WTO for $2.4 billion sanctions against U.S. in latest clash

    Reuters: China is seeking $2.4 billion in retaliatory sanctions against the United States for failing to comply with a World Trade Organization ruling in a case that highlights White House complaints about the global trade body. 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:

  • World Bank Doing Business Report 2020: How did the Caribbean do?

    World Bank Doing Business Report 2020: How did the Caribbean do?

    Alicia Nicholls

    The World Bank has released its latest Doing Business Report (2020) – Sustaining the Pace of Reforms. With an overall rank of 71 out of 190 economies, Jamaica has retained its top spot as the English-speaking Caribbean’s easiest economy in which to do business, followed by St. Lucia which respectively has an overall rank of 93 out of 190 economies.

    Although several Caribbean countries were highlighted for reforms implemented in 2018/19, no Caribbean country ranks within the top 50 countries. This means that the region still has much catching up to do in terms of ease of doing business.

    Please see below the ranks of Caribbean Community (CARICOM) countries:

    Economy2020 Rank
    Jamaica71
    St. Lucia93
    Trinidad & Tobago105
    Dominica111
    The Bahamas119
    Barbados128
    St. Vincent & the Grenadines130
    Guyana134
    Belize135
    St. Kitts & Nevis139
    Grenada146
    Suriname162
    Haiti179

    Turning to the wider Caribbean, Puerto Rico is the easiest Caribbean country in which to do business with a rank of 65. The Dominican Republic ranked 115.

    Reforms and changes

    The following Caribbean countries were singled out for reforms made in improving business or changes which made business more difficult:

    EconomyArea of Reform (whether positive or negative)
    Antigua & BarbudaStarting a business (positive)
    BarbadosGetting electricity (positive)
    Registering property (negative)
    Trading across borders (positive)
    Enforcing contracts (positive)
    BelizeGetting Electricity (positive)
    Trading across borders (positive)
    GrenadaStarting a business (positive)
    GuyanaTrading across borders (negative)
    HaitiGetting credit (positive)
    JamaicaRegistering property (positive)
    Enforcing contract (positive)
    St Kitts & NevisGetting credit (positive)
    St Vincent & the grenadinesPaying taxes (positive)
    Trinidad & TobagoPaying taxes (positive)

    The international perspective

    Overall, the easiest economies in which to do business were New Zealand (1), Singapore (2), Hong Kong (3), Denmark (4) and South Korea (5). The most difficult were Libya (186), Yemen (187), Venezuela (188), Eritrea (189) and Somalia (190).

    The 10 top improvers in the 2020 report were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, and accounted for one-fifth of all the reforms recorded globally.

    The full World Bank Doing Business Report 2020 may be accessed here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

    DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.

  • CCJ First Advisory Opinion Hearing

    CCJ First Advisory Opinion Hearing

    Alicia Nicholls

    History is being made at the Caribbean Court of Justice (CCJ) which is currently hearing oral submissions in the first ever Advisory Opinion filed in the Court pursuant to Article 212 of the Revised Treaty of Chaguaramas (RTC).

    Article 212 of the RTC empowers the CCJ with exclusive jurisdiction to deliver advisory opinions concerning the interpretation and application of the RTC. Advisory opinions can be delivered only at the request of the Member States parties to a dispute or the Community.

    The present request, which was filed by the CARICOM Secretariat, concerns two substantive issues:

    (1) whether a Member State can, pursuant to Article 27(4) of the Revised Treaty of Chaguaramas, lawfully opt-out of a decision of the Conference of the Heads of Government taken under Article 46(4) concerning the expansion of classes of persons entitled to work and move freely in the Community.

    (2) whether the nationals of those Member States which opt-out of a decision under Article 27(4), can nevertheless derive the benefits of the decision.

    Day 1

    On Day 1, the Court heard, inter alia, from CARICOM’s General Counsel, Dr. Corlita Babb-Schaefer, as well as counsel from Barbados, Antigua & Barbuda, St. Kitts & Nevis, Grenada. Also appearing amicus was a team from the Faculty of Law, The University of the West Indies, Cave Hill campus represented by Dean Dr. David Berry and law lecturers, Mrs. Nicole Foster and Mr. Westmin James. The live recording from Day 1 may be watched here.

    Day 2

    On Day 2 of the hearing the Court heard closing submissions. In closing, the Court promised to deliver its Advisory Opinion in a “reasonable time”. Day 2 of the hearing may be watched here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

    DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.