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  • Caribbean Trade & Development Digest – February 17- 23, 2019

    Caribbean Trade & Development Digest – February 17- 23, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of February 17-23, 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.

    THIS WEEK’S HIGHLIGHTS

    The World Trade Organisation (WTO) has warned that “trade weakness is likely to extend into the first quarter of 2019”. This is based on its trade indicator whose reading is currently the weakest since March 2010. Read more here.

    UNCTAD has released an article taking stock of the current level of ratification, implementation notifications, and transparency obligations of the Trade Facilitation Agreement and may be viewed here.

    20190223_193111.jpgRegionally, Secretary General of the United Nations Conference on Trade and Development (UNCTAD), Dr. Mukhisa Kituyi, presented a lecture in Barbados entitled “The Role of UNCTAD in Trade and Development in the Caribbean”. The lecture was a collaboration between the Shridath Ramphal Centre for International Trade Law, Policy and Services of the University of the West Indies’ Cave Hill Campus and the Ministry of Foreign Affairs and Foreign Trade of Barbados. The Secretary General touched, inter alia, on the current challenges facing the multilateral system, challenges facing small States and the current ACP-EU negotiations.

     

    REGIONAL

    Bahamas Must Benefit In WTO Sector Openings

    Tribune242: The Bahamas will only open up industries to foreign competitors under the WTO if doing so generates “real economic opportunities” for this nation, its chief negotiator asserted yesterday. Read more

    Trade arrangements with EU to remain in place for now

    Barbados Today: As the date for the United Kingdom’s withdrawal from the European Union (EU), commonly referred to as Brexit, draws nearer, Barbados and other Commonwealth countries have been reassured that current trading arrangements with the EU will remain in place for the foreseeable future. Read more

    Bahamas Urged To Target Fatf Escape

    Tribune 242: The Bahamas has been urged to “prioritise” escaping the Financial Action Task Force’s (FATF) monitoring list as all its recent woes “flow” from this. Read more 

    Regional Transportation, CSME among matters for CARICOM Heads’ attention

    CARICOM Today: Enhancing regional air and maritime transportation and further advancing the CARICOM Single Market and Economy (CSME) are among matters for deliberation when CARICOM Heads of Government hold their 30th Inter-Sessional Meeting in Basseterre, St. Kitts and Nevis, 26-27 February. Read more

    Trade License Reform Coming in 2020 in Belize

    Breaking Belize News: Businesses countrywide can look forward to more predictability with regards to paying their trade licenses thanks to a new regime coming next year, according to Belize City Mayor Bernard Wagner. Read more 

    INTERNATIONAL

    New AU trade observatory to support implementation of AfCFTA

    The New Times: The African Union Commission (AUC), the European Commission (EU), and the International Trade Centre have set up the ‘African Union Trade Observatory’ expected to accelerate the implementation of one of the continent’s flagship projects – the African Continental Free Trade Area (AfCFTA). Read more 

    Eswatini bids to host AfCFTA secretariat

    African Daily Voice: The Kingdom of Eswatini government has made a bid to host the upcoming Africa Continental Free Trade Area (AfCFTA) secretariat. Read more 

    Pacific Trade Agreement Triggers IP Overhaul in Vietnam

    Bloomberg: The Pacific trade pact is expected to give Vietnam a complete intellectual property makeover, covering everything from fast-food chains to patented inventions, even those owned by U.S. firms. Read more 

    India, EMs make case for special treatment at WTO

    Livemint: India, along with China, South Africa and Venezuela, has insisted on continuing with the special and differential (S&D) treatment for developing countries at the World Trade Organization (WTO), countering efforts of the US, which is seeking equal treatment for all members at the multilateral trade body. Read more

    India refuses to join e-commerce talks at WTO, says rules to hurt country

    Business Standard: The government believes the push for initiating negotiations on substantive obligations related to e-commerce will oblige India to permanently accept the current moratorium on imposing customs duties. Read more 

    Half of Canadian executives say old NAFTA better for our economy than USMCA

    Financial Post: Half the executives surveyed for the inaugural FP500/Forum Research Business Barometer poll say they think the original North American Free Trade Agreement was better for the Canadian economy. Read more

    UK and US agree post-Brexit derivatives trading deal

    The Guardian: In a joint announcement heralded as a sign of the special relationship between the UK and the US, the two countries said they would take every step to ensure the continued trading of derivatives across the Atlantic under every Brexit eventuality. Read more

    Brexit: UK-US agree to preserve trading arrangements

    BBC: The UK has struck a deal with the US to preserve £12.8bn of trade after Brexit.The mutual recognition agreement replicates the current deal between the EU and US on technical standards for exported goods. Read more 

     

    WTO NEWS

    WTO trade indicator points to slower trade growth into first quarter of 2019

    WTO: Trade weakness is likely to extend into the first quarter of 2019, according to the WTO’s latest World Trade Outlook Indicator (WTOI) released on 19 February. The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown should the current trade tensions remain unresolved. Read more 

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.

  • Caribbean Trade & Development Digest – February 10-16, 2019

    Caribbean Trade & Development Digest – February 10-16, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of February 10-16, 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.

    THIS WEEK’S HIGHLIGHTS

    Nine countries, including the US, Russia and the EU, approved an international agreement banning commercial vessels from fishing in the Arctic Sea for sixteen years in an effort to preserve the environment of the Arctic Sea.

    The US-China trade talks continued this week. Meanwhile, US President Trump may possibly be considering an extension to the 90-day truce agreed by the two behemoths in December 2018, which is supposed to end March 1.

    With Brexit only a month or so away,  UK Prime Minister Theresa May suffered yet another defeat in parliament when MPs voted 303 to 258 against endorsing her government’s Brexit negotiating strategy. While not binding, it is a further sign of declining confidence in the May Government’s handling of Brexit.

    Turning regionally, IMF Deputy Managing Director Tao Zhang gave a speech in Grenada entitled “Building Resilience to Natural Disasters and Climate Change in Grenada and the Caribbean”. Have a read here.

    REGIONAL

    T&T Ministry working with USDA to stop inferior chicken imports

    LoopTT: Government is now working with the US Department of Agriculture to stop the importation old, inferior chicken into Trinidad and Tobago, after reports that old, substandard chicken was being sold locally.  Read more 

    Guyana: No foreign exchange shortage but fewer US notes in circulation

    Demerara Waves: The Governor of the Bank of Guyana, Dr. Gobin Ganga, has assured that there is no shortage of foreign currency to transact international business such as wire transfers, but there are fewer United States (US) notes circulating at cambios and commercial banks partly because the increasing number of foreign workers are buying up the bills. Read more

    Republic of China (Taiwan) donates to trade development in Belize

    LoveFM: The Republic of China (Taiwan) is one of the country’s staunch allies that continues to contribute to Belize’s development. Their latest contribution comes in the form of sixty thousand US dollars earmarked for trade development. Read more 

    BNSI proposes introduction of front-of-pack labelling standard 

    Barbados Advocate: The Barbados National Standards Institution (BNSI) hosted a national consultation recently to get feedback from consumers on a new, compulsory standard they sought to introduce. Fabian Scott, Chief Technical Officer at the BNSI, explained that they were seeking to update the current requirements for the food labelling standard. Read more 

    Jamaica Government to Leverage New Opportunities in Partner Countries to Support Trade

    JIS: The Government, through the Ministry of Foreign Affairs and Foreign Trade, will work assiduously to leverage new opportunities in both traditional and non-traditional partner countries to support trade, investment and technical cooperation pursuits. Read more 

    Caribbean tourism on the upswing

    CTO: The Caribbean tourism sector is projected to record strong growth in 2019 on the heels of a stronger-than-expected performance last year. Read more 

    Major oil find excites southern Caribbean

    Amsterdam News: U.S. supermajor ExxonMobil announced two major oil finds offshore Guyana in the past week, and the discovery has raised the hopes for similar massive oil discoveries in two of its neighbors that incidentally already produce oil and gas. Read more 

    Spotlight on Statistics Strategy – PM Mitchell to address High Level Forum in Grenada next week

    CARICOM: A High Level Advocacy Forum on Statistics will be held next week as the Region continues to place more emphasis on the production and use of quality statistics. Read more

    Youth Bridge Gap Between Climate Change, Climate Awareness in Guyana

    CARICOM: A group of youngsters in the Caribbean who promote environmental protection in the region is on a drive to empower other youth to address some of the big issues facing their generation. Read more 

    Guyanese American Chamber of Commerce Recommends Extension of CBERA

    South Florida Morning News: The Guyanese American Chamber of Commerce (GCAA) wishes to draw to the attention of the  business community in the United States and Guyana the fact that the Caribbean Basin Economic Recovery Act (CBERA) will expire on September 30, 2020 and to urge the private sector at home and in the US, as well as the Government of Guyana in collaboration with its CARICOM partners to embark on efforts to ensure that this Act is extended by the US Congress for at least another 10 years. Read more

    Guyana denies shipping ‘bad’ rice to Jamaica

    TV6 T&T: Guyana says it has not shipped any rice to Jamaica under the “Cinderella” brand for the year after media reports in Kingston said that 70 metric tonnes of White Cinderella rice, had been confiscated by Jamaican authorities. Read more

    Jamaica confiscates 70 tonnes of Guyanese rice

    Demerara Waves: The Food Storage and Prevention of Infestation Division (FSPID), in the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) says it has confiscated 70 metric tonnes (1,575 bags) of White Cinderella rice from Guyana due to high microbial content. Read more

    INTERNATIONAL

    US, Canada accuse India of underreporting support for lentils, chickpeas; approach WTO 

    Economic Times: The United States and Canada have moved the World Trade Organization (WTO) accusing India of underreporting its market price support for five pulses. Read more 

    Tariffs Take Toll On American Whisky Exports

    Jamaica Gleaner: Retaliatory tariffs caused a sharp downturn in American whisky exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday. Read more 

    German discounters’ banana tactics irk Ecuador

    Deutsche Welle: Ecuador is the world’s largest exporter of bananas. The fruit plays just as big a role as oil for the country’s economy and its fight against poverty. Some German discounters seem to care little about that. Read more 

    Indian Commerce ministry to notify WTO regarding revoking MFN status to Pakistan

    Economic Times: The commerce ministry would soon notify to the World Trade Organization (WTO) its decision to revoke the most-favoured nation (MFN) status to Pakistan on security grounds, an official said Friday. Read more 

    Record EU Trade Surplus With U.S. Could Put Trump Truce at Risk

    Bloomberg: The European Union’s trade surplus with the the U.S. jumped 17 percent last year to the highest on record, potentially putting at risk ongoing negotiations just as President Donald Trump is gearing up to decide whether to hit the 28-nation bloc with a new set of tariffs. Read more

    European Commission welcomes European Parliament’s support for investment screening framework

    EU: Following today’s vote, the EU is one step closer to putting in place a Europe-wide framework for screening foreign direct investment. Read more 

    Commission puts in place duties on subsidised biodiesel from Argentina

    EU: Today, the Commission imposed definitive anti-subsidy measures on imports of biodiesel from Argentina. In parallel, the Commission adopted a decision accepting sustainable price commitments (known as undertakings) from eight Argentine producers and the Argentinian Chamber of Biofuels (CARBIO) that will exempt the exporting producers from the duties within an agreed import limit. Read more 

    Israel, Iran to join Russian-led free trade agreement

    JNS: However, the two nations will sign their own free-trade accord with the bloc, meaning the adversaries could not trade freely with one another. Read more 

    U.S. drafts WTO reform to halt handouts for big and rich states

    Reuters: The United States proposed a reform of the World Trade Organization on Friday that would slash the number of countries that are eligible for “special and differential treatment”, a plan likely to be resisted by China, India and other countries. Read more 

    New treaty bans commercial fishing in the Arctic for 16 years

    Euractiv: The European Union and nine other countries, including the US and Russia, approved an international agreement on Thursday (14 February) that will prohibit commercial vessels from fishing in the Arctic in order to preserve the region’s fragile ecosystem. Read more 

    The EU’s Dirty Money Blacklist: North Korea, Syria, and… Puerto Rico?

    Foreign Policy: The U.S. Treasury Department scolded the European Union for including U.S. territories on a list of dirty money hotspots around the world, telling American banks to ignore EU directives in an unusual technocratic spat that highlights continued friction between Washington and Brussels. Read more 

    New Caledonia and Vanuatu sign free trade agreement

    Radio New Zealand: The leaders of New Caledonia and Vanuatu have signed an agreement to free up trade for a range of products. It will apply to about 50 products, with Vanuatu being able to export agricultural products including coffee without duties or quantity restrictions. Read more 

    No-deal Brexit: UK exporters risk being locked out of world’s harbours

    The Guardian: British exporters sending goods to far-flung destinations in the coming days risk being locked out of harbours around the world as a no-deal Brexit looms, business leaders have warned. Read more 

    US-China trade talks break up without a deal

    BBC: Trade talks between the US and China have broken up without a deal, with the US warning that “very difficult issues” remain unresolved. The talks in China this week were aimed at securing a new deal before further US tariffs are imposed on 1 March. Read more

    Australia-Indonesia free trade agreement to be signed before election

    Australian Financial Review: The on again, off again free trade deal between Australia and Indonesia has been salvaged after both governments said it would be signed in March, before both nations hold their federal elections. Read more 

    EU-Singapore Free Trade Agreement Signed

    ASEAN Briefing: On February 13, 2019, the European Parliament approved the EUSFTA by a majority vote. The stage is now set for the final ratification and entry into force of the trade pact between the two jurisdictions. Read more 

    USMCA Coalition Formed during 116th Congress 

    Global Trade Magazine: In an effort to support fastidious implementation of the United States-Mexico-Canada Agreement, a group consisting of trade associations, businesses, and other advocacy groups joined forces to create what is now known as the “Pass USMCA Coalition.” Read more

    Canada won’t ratify new NAFTA until steel and aluminum tariffs lifted, warns key U.S. Senator

    Financial Post: Canada and Mexico won’t consider ratifying the revised North American Free Trade Agreement unless the United States lifts its tariffs on steel and aluminum imports, U.S. Senator Chuck Grassley said Tuesday. Read more

    WTO’s Potential Game-Changer: Global E-Commerce Rules? – Analysis

    Eurasia Review: The recently launched WTO negotiations on e-commerce seeks to establish a new rulebook for e-commerce trade, and could be a potential game-changer for the global economy. Read more

    Traditional Knowledge, Cheaper Drugs on India’s Agenda for the WTO

    The Economic Times: India wants the World Trade Organization (WTO) to address issues related to exploitation of traditional knowledge, food security and access to affordable medicine going ahead. Read more 

    WTO NEWS

    DG Azevêdo in Mozambique: the trading system must support LDCs

    WTO: Director-General Roberto Azevêdo was in Maputo, Mozambique, today (14 February), where he met President Filipe Nyusi. They discussed how to strengthen global trade cooperation for the future, through the WTO, so it can keep supporting the integration of Mozambique and other least developed countries (LDCs) into the global economy. Read more

    Members discuss progress and assistance on Trade Facilitation Agreement’s 2nd year

    WTO: WTO members took stock of progress in implementing the Trade Facilitation Agreement (TFA) at the 12-13 February meeting of the Committee on Trade Facilitation a week before the second anniversary of the Agreement’s entry into force. Members called for the timely fulfilment of commitments and discussed efforts to help each other carry out the Agreement. Read more

    CLTD BLOG NEWS

    Have a read of my latest article with Dr. Jan Yves Remy, Deputy Director of the University of the West Indies’ Shridath Ramphal Centre for International Trade Law, Policy & Services entitled “Can CARICOM Countries Afford to Miss the WTO E-Commerce Train”? published here.

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.

  • Can CARICOM Countries Afford to Miss the WTO E-commerce train?

    Can CARICOM Countries Afford to Miss the WTO E-commerce train?

    Dr. Jan Yves Remy and Alicia Nicholls

    On the sidelines of this year’s World Economic Forum meeting in January at Davos, Switzerland, 76 Members of the World Trade Organization (WTO) expressed their intention to begin WTO negotiations on electronic commerce (e-commerce). Making up less than half of the WTO’s overall membership, these willing Members entreated other Members to join them in negotiating rules aimed at facilitating the use of e-commerce in trade.

    All independent CARICOM Member States, with the exception of the Bahamas – which is presently acceding to the WTO – are WTO Members and therefore eligible to join these negotiations. However, so far none has done so. Given the potential of e-commerce for their development, should CARICOM Member States reconsider their cautionary stance?

    Growing importance of e-commerce to global trade

    E-commerce, also referred to as “digital trade”, has been defined as “the production, distribution, marketing, sale and delivery of goods and services through electronic and digital means”.  In its World Trade Report 2018, the WTO noted that digital technologies – such as artificial intelligence, blockchain, the Internet of Things and 3-D printing – are reducing trade costs and revolutionizing the structure and patterns of global trade flows.[i]  The United Nations Conference on Trade and Development (UNCTAD) estimated the global e-commerce market to be around US $22.1 trillion in 2015.[ii]

    The WTO Report and numerous studies[iii] highlight the potential of e-commerce to catalyse economic transformation in developing countries by lowering trade costs, increasing market access opportunities for Micro, Small and Medium-Sized Enterprises and individual entrepreneurs, improving logistics, and widening consumer choice. Challenges, however, continue to plague the use of these technologies, including inadequate supportive policies, technology diffusion and regulation.

    While more modern regional trade agreements – like the US-Mexico-Canada Agreement and even the CARIFORUM-EU Economic Partnership Agreement – include comprehensive digital trade chapters, the WTO, which was negotiated in 1995, still does not contain a multilateral agreement dealing holistically with e-commerce. Instead, separate disciplines affecting digital trade in goods and services can be found in the WTO’s General Agreement on Trade in Services, the General Agreement on Tariffs and Trade, the Agreement on Trade-Related Aspects of Intellectual Property Rights, and more recently, the Trade Facilitation Agreement.

    The multilateral route: The WTO Declaration and Work Programme on E-Commerce

    Multilateral discussions on e-commerce involving all WTO Members were launched in 1998 through the adoption of a Declaration on Global Electronic Commerce, and a Work Programme to examine trade-related issues related to global electronic commerce.  The Work Programme has been continuously updated at most WTO Ministerial Conferences since 1998, the last one being the Buenos Aires Ministerial Conference in 2017.  Under that Work Programme, the WTO’s main committees have been reviewing progress on discussions, with general oversight provided by the WTO’s General Council.  Despite fits of activity, and some proposals by select countries, not much has yet been accomplished beyond a temporary moratorium on the application of customs duties on electronic transmissions and the formulation of a working definition of e-commerce.

    Although the negotiation of a multilateral agreement or rules among all 164 WTO Members would be ideal, consensus among all Members has been difficult to achieve.  This is in large part due to developing countries’ objections to what they consider to be ambitious proposals being pushed by developed countries.  On the one hand, WTO developing countries, led by India and the African Group of countries, support completion of the more limited mandate under the 1998 Work Programme framework.[iv]  On the other hand, developed countries, such as the US[v] and the European Union, advocate moving beyond mere discussions to actual negotiations to formulate rules aimed at increasing e-commerce opportunities in the twenty-first century.  Where CARICOM stands is unclear as no CARICOM government has to date tabled a proposal on e-commerce at the WTO.

    The plurilateral route: Joint Statements on Electronic Commerce at Buenos Aires and at Davos

    Without an official WTO mandate to proceed with multilateral negotiations, some WTO Members have begun negotiations on a plurilateral basis, that is, without all WTO Members but among a subset of willing ones.  The plurilateral discussions began when 71 Members signed a Joint Statement on E-Commerce in Buenos Aires in 2017, and was extended at Davos in January this year, when five more countries, including China, agreed to join the plurilaterals.

    In their Joint Statement at Davos, the 76 signatories agreed, inter alia, to achieve “a high standard outcome that builds on existing WTO agreements and frameworks with the participation of as many WTO members as possible”.[vi]  The willing countries also agreed to “recognize and [to] take into account the unique opportunities and challenges faced by members, including developing countries and Least Developed Countries (LDCs), as well as by micro, small and medium sized enterprises, in relation to electronic commerce”.

    Should CARICOM countries participate in plurilateral negotiations?

    As with the multilateral e-commerce negotiations, CARICOM countries’ have remained silent on whether they have an appetite for joining the plurilateral e-commerce negotiations.  A number of factors could account for their apparent hesitation.

    Firstly, CARICOM countries may be concerned about their capacity to engage in negotiations on an area of trade which is still relatively new and evolving, and their subsequent ability to implement in a timely manner any obligations undertaken. To allay such fears, it might be worth considering the approach to special and differential treatment taken in the Trade Facilitation Agreement, another WTO plurilateral agreement, where implementation is tied to a country’s capacity and the degree of technical assistance provided.

    Secondly, some CARICOM countries may fear that participation in these negotiations will restrict their policy space, particularly their ability to regulate online traffic and cross border data flows, and attendant issues like data privacy and cybersecurity.  They might also be wary of the revenue implications of agreeing to the proposed permanent moratorium on the imposition of customs duties on electronic transmissions.

    A third possible red flag for CARICOM may be the reluctance of other developing countries in joining the negotiations. While China joined at the last minute, others like India and the African Group countries have adamantly declined, preferring to focus attention on the multilateral discussions.[vii] These countries argue that e-commerce is monopolised by multinational corporations and that gains from e-commerce will not be realized for developing countries if they are required to cede their regulatory and policy space.

    Without a critical mass of developing countries involved in the negotiations, CARICOM countries’ ability to form coalitions with perceived “like-minded” countries may be circumscribed. That said, e-commerce is an area in which CARICOM countries have offensive interests given the predominance of services in their economies.  It may well be that new coalitions will have to be built on the basis of a new alignment of interests.

    Issues for Consideration

    Given the importance of digital technology in global commerce, missing the e-commerce train at the WTO may not be in CARICOM’s best development interests. But CARICOM countries would be ill-advised to pursue a strategy to negotiations that ignores the following considerations.

    Firstly, a negotiating strategy must be predicated on a sound digital trade policy that is informed by: data analysis of current patterns, scope and scale of e-commerce in the region; a clear-sighted appreciation of how e-commerce can promote the region’s overall economic transformation; and solid regulatory frameworks and infrastructure. Some studies, including one commissioned by UNCTAD on e-commerce legislation in Caribbean countries[viii], already exist.

    Secondly, both the digital trade policy and the subsequent negotiating strategy will require the input and feedback of key stakeholders, including the private sector and regulators which will be tasked with administering any rules, and consumer bodies. Canada, which is one of the Joint Statement signatories, has already launched stakeholder consultations.[ix]

    Thirdly, CARICOM countries must be tactical.  They should consider reaching out to other similar-minded developing countries to join the ongoing plurilaterals negotiations, and increase the visibility of issues that are unique to smaller developing countries.

    What Next?

    As CARICOM ponders its next move, negotiations on the plurilateral front are ramping up.  There is no agreement yet among those engaged in the plurilateral as to the legal structure any eventual agreement will take, nor as to its scope.  But there is a willingness to move beyond the “exploratory” phase to actual negotiations.  In fact, the first meeting of the plurilateral e-commerce negotiations is slated to take place on March 6.

    That means that there is still an opportunity for all WTO Members to participate in these negotiations, and thereby influence their shape. The 70 plus signatories include the world’s largest trading economies which account for 90% of global trade.[x]  As the rules negotiated will likely serve as the baseline for any future multilateral e-commerce deal, non-participation by developing countries would relegate them, once again, to the status of rule-takers. This is not an area in which CARICOM countries should leave their destinies in the hands of others.

    Dr Jan Yves Remy is the Deputy Director of the University of the West Indies, Cave Hill’s Shridath Ramphal Centre for International Trade Law, Policy & Services. Alicia Nicholls is an international trade and development consultant and a contributing author to the UWI SRC’s Trading Thoughts column. This article was also published in Barbados Today.

    [i] https://www.wto.org/english/res_e/publications_e/world_trade_report18_e_under_embargo.pdf

    [ii] https://unctad.org/es/paginas/newsdetails.aspx?OriginalVersionID=1281&Sitemap_x0020_Taxonomy=Information%20and%20Communication%20Technologies

    [iii] See for example Commonwealth (2017)  https://books.thecommonwealth.org/e-commerce-and-digital-trade-paperback; WTO (2013) https://www.wto.org/english/res_e/booksp_e/ecom_brochure_e.pdf ; E. Humphrey et. al (2003) https://eprints.lse.ac.uk/3710/1/The_reality_of_e-commerce_with_developing_countries.pdf.

    [iv] See link for a synthesis of some of the positions: https://www.wto.org/english/news_e/news16_e/good_17nov16_e.htm. For the Indian Government’s views see  https://www.ictsd.org/bridges-news/bridges-africa/news/african-group-submits-proposal-on-e-commerce-ahead-of-wto and also for the African Group’s position: https://www.ictsd.org/bridges-news/bridges-africa/news/african-group-submits-proposal-on-e-commerce-ahead-of-wto

    [v] See this link for a greater discussion on the diverging views of WTO members on the way forward: https://www.reuters.com/article/us-trade-wto-digital/some-wto-members-to-push-for-e-commerce-rules-as-broader-deal-fails-idUSKBN1E72YV

    [vi] The link to the text of the Joint Statement on E-commerce of January 25, 2019 text is available on this webpage: https://www.wto.org/english/news_e/news19_e/dgra_25jan19_e.htm

    [vii] See https://www.thehindubusinessline.com/info-tech/india-keeps-off-75-member-wto-e-comm-agreement-talks/article26093230.ece and https://www.livemint.com/politics/news/india-south-africa-others-skip-wto-negotiations-on-e-commerce-at-davos-meet-1548435856765.html

    [viii] https://unctad.org/en/pages/PublicationWebflyer.aspx?publicationid=2084

    [ix] http://www.internationaltradecomplianceupdate.com/2019/01/28/canada-launches-consultations-on-future-wto-e-commerce-negotiations/

    [x] https://www.wto.org/english/news_e/news19_e/dgra_25jan19_e.htm

  • Caribbean Trade & Development Digest – February 3-9, 2019

    Caribbean Trade & Development Digest – February 3-9, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of February 3-9, 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. We apologise for the delay in the publication of this edition.

    THIS WEEK’S HIGHLIGHTS

    A bi-partisan bill has been introduced in the US House of Representatives to reauthorize the US Caribbean Basin Trade Partnership Act (CBTPA) until 2030.

    Trade was one of themes touched on by US President Donald J. Trump in his State of the Union Address. See write up here.

    UNCTAD identified the winners and losers from the US-China trade tensions in a recently released report entitled The Trade Wars: The Pain and the Gain which may be viewed here.

    REGIONAL

    Bipartisan Caribbean Trade Bill introduced in US congress

    CaribbeanNewsNow: US Reps. Terri Sewell (D-AL) and Brad Wenstrup (R-OH) have introduced legislation to reauthorize the US Caribbean Basin Trade Partnership Act (CBTPA) until 2030. Since 2000, CBTPA has allowed for the duty- and quota-free import of goods made with US yarns, fabrics and threads from Caribbean countries. Read more 

    Efforts take shape to reduce OECS food import bill

    St. Lucia News Online: Spurring domestic agricultural production to meet local and international demand while reducing the region’s food import bill is the focus of a powerful new data tool recently presented to agricultural decision-makers at the OECS Commission. Read more 

    Commercial Court ‘could boost’ Barbados economy

    Barbados Today: The minister responsible for business is counting on the planned commercial law court to transform the way business is done and boost the flagging economy. Read more 

    Trinidad: PM wants technology to play greater role in energy sector; offers help to Caribbean countries

    St Lucia News Online: The Trinidad and Tobago government Monday said it is prepared to assist its fellow Caribbean Community (CARICOM) countries develop their hydrocarbon sector as it placed much emphasis on the importance of technology in developing its own industry. Read more 

    Marshall and Brown launches Jamaican gourmet line in UK

    Jamaica Observer: A new premium Jamaican product line, Marshall & Brown, has been launched in the United Kingdom (UK) to fill a gap in the market for authentic Jamaican food and cooking ingredients.  Read more 

    High demand for Jamaican black castor oil in United States

    Jamaica Observer: A new study on the local castor oil industry is showing significant potential for Jamaican black castor oil in the United States. The Complete Caribbean study indicates that the US market for the product stands at about US$28 million. Read more 

    CDB President calls for resilience, transformation to drive Regional economic growth

    CARICOM Today: Although grappling with challenges related to climate change; wide fiscal deficits and high public debt; as well as high unemployment, the Caribbean Development Bank (CDB) today projected that the Region’s economy is expected to grow by 2% in 2019. Read more 

    Trinidadians seeking business opportunities in Jamaica

    CARICOM Today:A business delegation from Trinidad and Tobago is in the island for a four-day trade mission from February 5 to 8. The team, being hosted by the Jamaica Chamber of Commerce, represents 10 companies involved in various sectors. These are construction, architectural services, food and beverage, agro-chemical, consumer and household products, software development, marketing and advertising. Read more 

    Consultations on CARICOM Gender Policy

    CARICOM Today: The first of 15 national consultations on a draft Regional Gender Equality Strategy for CARICOM opened on Thursday, in St. John’s, Antigua and Barbuda. Read more 

    INTERNATIONAL

    Japan seeking big concessions from Britain in trade talks

    The Guardian: Japan is seeking tougher concessions from Britain in trade talks than it secured from the EU, while negotiations between London and Tokyo are also being slowed by the looming risk of no-deal. Read more 

    US-China trade war could slash almost 1 million jobs from the US economy, new study says

    South China Morning Post: Research from the Washington-based consultancy Trade Partnership Worldwide, paid for by the pro-free trade lobbying group Tariffs Hurt the Heartlands, ominously predicts that more than 2 million American jobs could be on the line should US President Donald Trump push ahead with his threat of a 25 per cent tariff on all Chinese exports. Read more

    WTO awards South Korea $85 million against U.S. over washing machine tariffs

    Reuters: South Korea can impose annual trade sanctions of $84.81 million on the United States after challenging U.S. anti-dumping and anti-subsidy tariffs on washing machines, a World Trade Organization arbitration panel ruled on Friday. Read more

    India, Peru to hold next round of free-trade agreement talks in March in Lima

    ET Now: India and Peru will hold the next round of negotiations for a proposed free-trade agreement (FTA) in the South American nation next month, a move aimed at boosting two-way commerce between the countries, an official said.  Read more 

    Uruguay Betting On Exports Of Medical Marijuana

    Jamaica Gleaner: The country got a head start on competitors in December 2013 when it became the first in the world to regulate the cannabis market from growing to purchase, a move that has brought a wave of investment. Read more 

    No-deal Brexit: What does the WTO rules option actually mean and how would it work?

    iNews: If the UK leaves the EU without a deal, which is still the default option if one cannot be agreed, it would automatically fall back to World Trade Organization (WTO) rules. But what would this actually mean? Read more

    Brexit: May says she can get deal through with binding changes

    BBC: Theresa May has told EU leaders she can get the Brexit deal through Parliament if they give her legally-binding changes to it. Read more 

    African Free Trade Zone deal may come into force in 2 months: Egypt’s FM

    Egypt Today: The agreement of the African Continental Free trade Area (AfCFTA) for 55 member states of the African Union may come into force within six months, said Egyptian Foreign Minister Sameh Shoukry on the sidelines of the 32nd session of the African Union that will kick off on Sunday in Addis Ababa. Read more

    Turkey, US ‘will reach $75 bln trade target with free trade agreement’

    Hurriyet: Trade volume between Turkey and the United States may reach $75 billion through a free trade agreement and the removal of regulations and tariffs, the chairman of the American-Turkish Council has said, stressing that the bilateral potential has never been realized. Read more

    A modernized WTO is far better than no WTO at all

    The Hill: Last month, on the sidelines of the World Economic Forum in Davos, leading members of the World Trade Organization (WTO) met to discuss how to improve the organization. At the same time, more than 70 governments agreed to commence WTO negotiations on trade-related aspects of electronic commerce. Read more

    China says US report on its WTO compliance lacks factual basis

    CNBC: China opposes a report by the U.S. Trade Representative’s office on its World Trade Organization (WTO) compliance, the commerce ministry said, saying it is inconsistent with the facts. Read more

    WTO NEWS

    Arbitrator issues decision in dispute between Korea and US on large residential washers

    WTO: On 8 February 2019, a WTO arbitrator issued a decision on the level of trade suspension Korea may request in its dispute with the United States regarding US anti-dumping and countervailing duty measures on large residential washers from Korea (DS464). Read more 

    The Caribbean Trade & Development Digest is a weekly trade news digest 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 follow our blog.