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  • Caribbean Trade and Development Digest – November 13 – 17, 2018

    Caribbean Trade and Development Digest – November 13 – 17, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of November 13-17, 2018! We do apologise for the delay in this week’s Caribbean Trade and Development Digest, but 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

    Last week was quite a busy week in trade policy news on the regional and international fronts! There was the announcement and release of the draft Brexit withdrawal agreement between the UK and EU. The Asia Pacific Economic Cooperation (APEC) Summit in Port Moresby, Papua New Guinea, ended with no joint statement amidst disagreement between the US and China. On the regional front, the CARICOM Council for Trade and Economic Development (COTED) held its 47th meeting and released a statement  in support of the WTO.

    REGIONAL

    COTED Statement on WTO

    CARICOM: CARICOM Trade Ministers, meeting in Georgetown, Guyana, on 15 and 16 November 2018, at the Forty-Seventh Meeting of the Council for Trade and Economic Development (COTED), re-iterated the Caribbean Community’s support for the rules-based, multilateral trading system embodied in the World Trade Organisation (WTO). Read more 

    Dubai-Caribbean non-oil trade hits $273 million in 2017

    Khaleej Times: The value of non-oil trade between Dubai and Caribbean countries totalled $273 million in 2017, according to new data released by the Dubai Chamber of Commerce and Industry ahead of the first UAE-Caribbean Cooperation Forum in Dubai. Read more

    St Lucia set to launch import substitution programme

    St Lucia Times: The Ministry of Agriculture, with the support of the government of Taiwan, will next year begin implementing an import substitution programme for a range of crops in an effort to reduce Saint Lucia’s food import bill. Read more

    Guyana, EU to sign pact on forest governance

    Stabroek: After around six years of engagements, Guyana and the European Union (EU) are to sign an agreement that will bolster forest governance and address issues such as illegal logging. Read more 

    China eyes US$10 trillion in imports from Latin America, Caribbean

    Stabroek: The Government of the People’s Republic of China is looking to import some US$10 trillion in goods and services from Latin America and the Caribbean over the next five years, China’s Ambassador to Jamaica Tian Qi has disclosed. Read more 

    Advancing Single Market and Economy pivotal to CARICOM’s future – LaRocque

    Stabroek: If CARICOM is to safeguard the region’s interests in the global arena and achieve the objective of improving the lives of its citizens, its most important immediate task is to advance the implementation of the Single Market and Economy (CSME), Secretary General Ambassador Irwin LaRocque says. Read more 

    INTERNATIONAL

    APEC summit wraps with no joint statement amid US-China discord

    CNN: For the first time in its 25-year history, the Asia-Pacific Economic Cooperation summit ended Sunday with its leaders failing to agree on a formal joint statement.

    All 21 APEC leaders at the annual meeting in Papua New Guinea were in agreement except China, a source within the meeting told CNN. Read more
    European Commission welcomes agreement on foreign investment screening framework
    EU: Today the European Parliament, the Council and the Commission reached a political agreement on an EU framework for screening foreign direct investment. Read more

    Japan initiates WTO dispute complaint against Korean support for shipbuilders

    WTO: Japan has requested WTO dispute consultations with Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry. Japan’s request was circulated to WTO members on 13 November. Read more

    WTO Members Prepare to Shift Gears in Fisheries Negotiations

    ICTSD: WTO members negotiating a proposed agreement to tackle harmful fisheries subsidies held a second cluster of meetings last week as part of their September-December work programme, hearing reports about brainstorming sessions in “incubator groups” the week before and completing the streamlining of a document consolidating all existing proposals.  Read more 

    Kenya Eyes High Table Seat At Inaugural Intra-Africa Trade Talks

    AllAfrica: Kenya is keen to play a lead role in steering intra-Africa trade as the continent meet for the Inaugural Intra-Africa Trade Fair (IATF) in Cairo, Egypt, next month. Read more

    May sticks to Brexit deal as opponents seek formal challenge

    Reuters: British Prime Minister Theresa May vowed on Monday to stick to her draft European Union divorce deal as dissenting lawmakers in her own party tried to trigger a leadership challenge. Read more 

    Vice president Pence pushes Japan for free trade agreement

    Reuters:  U.S. Vice President Mike Pence, keeping up pressure on Japan to cut its trade surplus with the United States, said on Tuesday American goods and services too often faced barriers in Japan and a bilateral trade agreement offered the best way forward. Read more 

    Singapore, China sign several agreements, including free trade agreement upgrade

    ChannelNewsAsia: China and Singapore have signed a slew of agreements, including the upgrade of a bilateral free trade pact, which will allow greater market access for Singapore companies. Read more

    China, Spain, Latin America: A New Growth Axis in Global Trade

    World Crunch: Spain, an industralized EU member with close ties to Latin America, could profit from easing the entry of Chinese firms keen to invest in and export to the Americas. Read more

    How news media can boost China-Latin America relations

    Xinhua: There’s no doubt of the news media’s impact across borders and in fostering relations between countries and entire regions. Nowhere is this more true than in the relationship between China and Latin American and the Caribbean (LAC). Read more 

    WTO working more closely with UK on Brexit

    RTE: A senior World Trade Organization (WTO) representative has said the body is watching Brexit negotiations between the European Union and the UK “very closely”. Read more 

    Trump’s protectionism might just save the WTO

    The Washington Post: President Trump is right that the World Trade Organization badly needs reform.Keeping the United States within the WTO should obviously be Plan A. But it would be prudent for other members to start thinking about devising a new international trade organization minus the United States in order to avoid the “my way or the highway” blackmail that has become the American president’s signature negotiating style. Read more 

    WTO members adopt roadmap for reducing technical barriers to trade

    WTO: WTO members achieved a breakthrough at a 14-15 November meeting of the Committee on Technical Barriers to Trade (TBT) by agreeing on a list of recommendations that aim at reducing obstacles to trade and improving implementation of the WTO’s TBT Agreement.  Read more 

    Launch of WTO Data Portal

    WTO: The WTO launched on Friday 16th November its new online database. The WTO Data portal brings together a wide range of statistical indicators on international trade and other WTO-related information. Read more 

    US-China Discord Dominates APEC Summit

    Jakarta Globe: The United States and China swapped barbs over trade, investment and regional security at an Asia Pacific Economic Cooperation, or Apec, summit on Saturday, as growing fault lines among members suggested little prospect of consensus at the weekend meeting. Read more 

    India to adopt new approach toward free trade agreements

    Japan Times: India is planning to adopt a new strategy toward negotiating free trade agreements even as the country is engaged in talks with members of the Regional Comprehensive Economic Partnership, the proposed ASEAN-focused regional free trade area. Read more 

    Egypt, Eurasian Union to start negotiating free trade agreement

    Egypt Today: Egypt and the Eurasian Economic Union (EAEU) signed a framework document for negotiations on the free trade agreement between the two sides, as they both decided to hold the first tournament of negotiations in mid- January in Cairo. Read more 

    India, Mauritius likely to sign free trade pact in January

    Hindu Business Line: The proposed India-Mauritius free trade agreement,being given the final touches by negotiators this week, is likely to be signed in January during Mauritius PM Pravind Kumar Jugnauth’s India visit, a government official has said. 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 – November 4-12, 2018

    Caribbean Trade & Development Digest – November 4-12, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of November 4-12, 2018! 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.

    REGIONAL

    CARICOM finalising trade arrangements post- Brexit

    RJR News: Minister of  Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith, says the technical work for the rollover of  the Economic Partnership Agreement (EPA) into a new CARIFORUM-United Kingdom trade arrangement post-Brexit is close to being finalised. Read more

    CARICOM trade ministers meet next week; officials begin preparatory work

    Caribbean News Now: Caribbean Community (CARICOM) trade officials on Wednesday began preparations for the 47th meeting of the Council for Trade and Economic Development (COTED), which will be held in Georgetown, Guyana, November 15-16. The two-day preparatory meeting is being held at the CARICOM Secretariat. Read more

    INTERNATIONAL

    Trump’s trade war could dent China’s domestic consumption, dragging down the rest of Asia

    CNBC: Asian countries’ exports are potentially vulnerable to the U.S.-China trade war on two fronts: changes to global supply chains and slowing Chinese domestic demand. Read more

    Don’t expect quick end to U.S.-China trade war, top White House official warns

    Washington Post: Trump trade adviser Peter Navarro said Friday that “trust issues” with China are responsible for the lack of progress in trade negotiations, tamping down hope for progress in resolving the trade war when President Trump and Chinese President Xi Jinping meet later this month at the G-20 summit in Argentina. Read more

    Trump’s trade war may have helped the Democrats win the House

    Washington Post: Minnesota’s 8th Congressional District, which runs along the U.S.-Canada border, has one of the highest concentrations of iron miners in the country. Republicans took it from Democrats in Tuesday’s midterm election amid a surge in the industry propelled in part by President Trump’s tariffs on China. Read more

    Commission reports on latest negotiating rounds with Indonesia and New Zealand

    EU: The Commission today published two reports summarising the progress made during the latest negotiating rounds for the EU-Indonesia and EU-New Zealand trade agreements. Read more

    Aid for Trade monitoring exercise to review economic diversification and empowerment

    WTO: The Aid for Trade monitoring and evaluation exercise was launched at a meeting of the WTO Committee on Trade and Development on 6 November 2018. WTO members and Aid for Trade partners may submit self-assessment questionnaires up to 31 December 2018 to assist preparations for the 2019 Aid for Trade Global Review. Read more

    DG Azevêdo and Premier Li Keqiang discuss how to safeguard the WTO

    WTO: Director-General Roberto Azevêdo visited Beijing, China, on 6 November to participate in the “1+6” roundtable meeting hosted by Chinese Premier Li Keqiang, together with five other heads of major international economic organizations and financial institutions (the IMF, World Bank, ILO, OECD and the Financial Stability Board). Read more

    WTO issues panel report on Indian safeguard duties on steel products

    WTO: On 6 November the WTO circulated the panel report in the case brought by Japan in “India — Certain Measures on Imports of Iron and Steel Products” (DS518). Read more 

    Registration opens for screening of “US — Softwood Lumber Pricing Methodology” second hearing

    WTO: At the request of the parties in the dispute “US — Anti-Dumping Measures Applying Differential Pricing Methodology to Softwood Lumber from Canada” (DS534), the panel has decided to open its second substantive meeting to public observation on 4 December 2018 (and on 5 December, if necessary). The live screening will take place at the WTO’s headquarters in Geneva. Read more

    IP seminar addresses how technological changes have transformed trade and knowledge flows

    WTO: Government officials from 29 developing and least developed countries and 13 Geneva-based delegates from around the world took part in the Seminar on Intellectual Property and Knowledge Flows in a Digital Era, which took place at the WTO on 5-6 November 2018. 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 – October 28 – November 3, 2018

    Caribbean Trade & Development Digest – October 28 – November 3, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of October 28-November 3, 2018! 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

    Caribbean trade officials and experts met in Guyana this week to discuss emerging trade issues, while Barbados hosted Africa, Caribbean, Pacific (ACP) private sector consultations.  On the Brexit front, business leaders in the UK are calling for a new EU referendum. The EU is reportedly revising its WTO reform proposals released in September in order to gain US support.

    Please have a read of the week’s other headlines below:

    REGIONAL

    What’s at stake as EU, Africa, Caribbean, Pacific, negotiate new accord

    Devex: After years of preparation and posturing, negotiations on the new relationship between the European Union and 79 African, Caribbean, and Pacific states are finally underway. Read more 

    OECD support on economic citizenship programmes unreasonable, says OECS

    Caribbean News Now: The Organisation of Eastern Caribbean States (OECS) Authority, the highest decision-making body of the nine-member sub-regional bloc, has responded to the recent Organization for Economic Cooperation and Development (OECD) report that listed five of its members for tax evasion concerns with regard their citizenship by investment (CBI) programmes. Read more 

    OECS to establish a diplomatic presence in Africa

    Searchlight: Eastern Caribbean States will soon have a strong diplomatic presence on the world’s second largest continent, Africa. This decision was made on Tuesday, during the 66th meeting of the OECS Authority, which took place in St Vincent and the Grenadines at Beachcombers Hotel. Read more 

    OECS to hold Blue Economy Seminars in Member States

    St Lucia Online: Transitioning to a Blue Economy is critical to ensuring continued economic growth in the Organisation of Eastern Caribbean States (OECS), given that the marine space of small island states is significantly larger than their land mass and clearly a substantial asset. Read more 

    TCI needs UK letter of approval to start APIS with CARICOM

    Magnetic Media: The United Kingdom has to give the Turks and Caicos permission to continue on its path to having APIS or the Advanced Passenger Information System with its country partners in CARICOM. Read more 

    Caribbean countries discuss global trade challenges

    Commonwealth: Caribbean countries of the Commonwealth met in Georgetown, Guyana this week to deliberate on how to respond to major shifts in the global trade landscape. Read more 

    Guyana trade mission jets into Aberdeen

    Energy Voice: A trade mission from Guyana will visit Aberdeen later this month to foster business links with north-east oil and gas companies. Read more 

    Guyana/China MOU signals “unfettered” partnership in every possible area

    Kaieteur News: Finally, the APNU+AFC Government has released the Memorandum of Understanding (MOU) that Minister of Foreign Affairs, Carl Greenidge, signed with China to facilitate the infamous Belt and Road Initiative. The MOU was signed on July 27, last. Read more 

    CARICOM countries join call for US to lift embargo against Cuba

    RJR: Two days after the House of Representatives in Jamaica approved a resolution calling for the lifting of the economic, commercial and financial blockade imposed on Cuba by the US, other CARICOM countries have taken a similar stance. Read more 

    INTERNATIONAL

    Vietnam is winning the US-China trade war

    Foreign Policy: The facts on the ground are clear; Vietnam, once dependent on garments and other cheap exports, has begun to rival China’s tech sector. And with Asian businesspeople increasingly resigned to a protracted trade war between Washington and Beijing, firms are more eager than ever to escape tariffs by relocating to China’s smaller southern neighbor. Read more

    Pacific-Rim trade deal to kick in December

    CBC (Canada): U.S. President Donald Trump tried to kill it, but the Trans-Pacific Partnership wouldn’t stay dead. Less than two years after the U.S. withdrew from the landmark Pacific Rim trade deal it once saw as key to an Asian trade strategy, six of the remaining countries have ratified it. Read more 

    Future economy minister says Mercosur is not a priority for Bolsonaro

    Mercopress: Mercosur is not a priority, and Argentina is not a priority for the new government of Brazil, the priority is to trade with all the world. The strong statement came from Paulo Guedes, signaled as the next Finance minister of president elect Jair Bolsonaro’s cabinet and a crucial player in that team since the newly elected leader has admitted a limited knowledge of economics. Read more 

    US attacks UK plan for digital services tax on tech giants 

    BBC: The US has hit back against a UK plan to impose a new tax on sales by technology giants. Read more

    US, China ‘not on the cusp of’ trade deal: White House advisor

    Reuters: The United States and China are not close to a deal to resolve their trade differences, the White House’s top economic adviser said on Friday, adding that he was less optimistic than previously that such an agreement would come together. Read more

    USTR to hold hearing in December over trade talks with Japan

    Japan Times: The Office of the U.S. Trade Representative will hold a hearing on Dec. 10 regarding bilateral trade negotiations with Japan that Washington plans to launch in mid-January, according to the Federal Register. Read more

    Trump vows close ties with Brazil’s Bolsonaro on trade, military

    Reuters: The United States will work closely with Brazil on trade and military issues following Jair Bolsonaro’s presidential election victory, U.S. President Donald Trump said on Monday. Read more 

    Alibaba launched Africa’s first electronic trade platform

    Africa News: Chinese e-commerce giant Alibaba on Wednesday launched Africa’s first Electronic World Trade Platform (eWTP) at a special ceremony in Kigali, Rwanda. Read more 

    Critics of EU-Mercosur deal name conditions for support

    Swissinfo.ch: A coalition of Swiss farming organisations, consumers and NGOs says it is in favour of a free trade agreement between Switzerland and the four Mercosur countries: Argentina, Brazil, Uruguay and Paraguay. But it is demanding binding criteria concerning sustainability.  Read more 

    Continental free trade agreement bodes well for future of trade policy across Africa

    Business Day: On March 21 2018, 44 African countries signed the African Union’s continental free trade agreement (Acfta). The AU aims to use the agreement as a conduit for the creation of a single market and customs union on the continent, akin to the trade blocs established by the EU. Read more 

    EU-Africa trade will only blossom when all are treated as equals

    The East African: China’s use of trade and investment links to expand its influence in Africa is fuelling growing concern in some European capitals. But, instead of complaining about China’s activities, the European Union should be deepening its own engagement with the continent. Read more 

    Nigeria is set to host Africa Trade Forum 2018

    African Review: The Africa Trade Forum 2018, set to take place on 2-3 November 2018 in Lagos, will discuss the process for realising the African Continental Free Trade Area (AfCFTA). Read more 

    Dairy farmers ‘very disappointed’ with USMCA

    South Western Ontario:  Very disappointing was how Dairy Farmers of Ontario spokesperson Ralph Dietrich described the pending United States-Mexico-Canada trade agreement. Read more 

    Commonwealth concerned at technological gap in trade

    St. Lucia Online: A senior official of the London-based Commonwealth Secretariat says efforts are being made to bridge the technological gap in trade. Read more

    RP-US bilateral trade agreement

    Manila Standard: As the Philippines is about to renew its bilateral trade agreement with the US, President Duterte has expressed concern that concluding a free trade agreement with the US might jeopardize our bilateral relations with China and with the Asean where we currently enjoy robust trade relations. Read more 

    India, China to undertake joint research on WTO reforms

    Economic Times: India and China Thursday agreed to undertake joint research in the areas of WTO reforms, urbanisation and frontier technologies with a view to enhancing economic cooperation between the countries, an official statement said. Read more

    Report: EU trade agreements deliver on growth and jobs, support sustainable development

    EU: According to the second annual report about the implementation of trade agreements issued today, these agreements – covering nearly 70 markets all over the world – are proving effective in removing barriers to trade and promoting high standards of labour and environment protection. Read more 

    Brexit: Relations ‘fraying’ between Britain and Ireland

    BBC: The Irish prime minister says Brexit is fraying relations between Ireland and Britain. Taoiseach Leo Varadkar said it had also “undermined” the Good Friday Agreement (GFA). Read more 

    Brexit: Business leaders call for new EU referendum

    BBC: More than 70 business leaders have signed a letter to the Sunday Times calling for a public vote on the UK’s Brexit deal. Read more 

    Minister Pato signs ACP administrative cooperative agreement

    ACP Secretariat: Papua New Guinea has taken steps to strengthen and deepen its Economic Partnership Agreement (EPA) with the EU and other ACP states that have similar trading arrangements. Read more 

    EU Revises Plan to Fix WTO in Bid to Get U.S. on Board

    Bloomberg: The European Union is revamping its plan to reform the World Trade Organization in an effort to win support from the U.S., according to two people briefed on the process. Read more 

    Women-supporting trade policies need better data, experts say

    UNCTAD: The idea that governments around the world must support women as traders, workers and entrepreneurs to drive international commerce has been recognized in several multilateral agendas in recent years, but experts say that a data gap needs to be filled before the most effective policies can be designed. Read more 

    WTO members discuss implementation of the Information Technology Agreement

    WTO: Implementation issues concerning India and China were flagged once more at the Committee meeting. WTO members raised concerns about the import duties that India has introduced on mobile phones and their parts, which members consider to be covered by the ITA. Read more

    Panels established to examine Pakistani duties on film, Korean duties on steel

    WTO: At a meeting of the WTO’s Dispute Settlement Body (DSB) on 29 October, WTO members agreed to a request from the United Arab Emirates for the establishment of a panel to examine anti-dumping duties imposed by Pakistan on biaxially oriented polypropylene from the UAE as well as a request from Japan for a panel to examine anti-dumping duties imposed on stainless steel bar from Japan. Read more

    White House officials are pushing back on the idea that a trade deal with China is imminent

    CNBC: For a brief moment Friday, there was optimism in the market that the Trump administration was getting closer to a trade deal with China. But administration officials are telling CNBC that there is no indication of an imminent agreement. Read more 

    RCEP nations unlikely to reach agreement this year

    Japan Times: The 16 mostly Asian countries negotiating what will be the world’s largest free trade area might not be able to achieve their target of a substantive deal by the year’s end, an official source familiar with the talks has said. Read more

    Philippines, Japan eye inclusion of e-commerce

    Business Inquirer: Japan might include e-commerce under its free trade deal with the Philippines as both sides review the merits of the nearly decade-old agreement. Read more

    NEW ON CTLD BLOG

    Jamaica remains easiest place in CARICOM to do business, according to World Bank Doing Business Report 2019

    Could Promoting Bilingualism Give Caribbean Countries a Trade and Investment Advantage?

    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.

  • Jamaica remains easiest place in CARICOM to do business, according to World Bank Doing Business Report 2019

    Jamaica remains easiest place in CARICOM to do business, according to World Bank Doing Business Report 2019

    Alicia Nicholls

    Jamaica has maintained its spot as the easiest place to do business in the Caribbean Community (CARICOM) in the just released World Bank Doing Business Report 2019.  This is the 16th edition of this flagship World Bank publication which objectively ranks 190 economies globally on their ease of doing business based on a number of indicators. The theme of this year’s report is Training for Reform.

    Jamaica has an overall ranking of 75 out of the 190 economies ranked. Of note is that overall, Jamaica also ranked as the 6th easiest place to start a business and 12th in the ease of getting credit. With respect to significant business reforms, the World Bank highlighted Jamaica’s improved access to credit information by distributing data from utility companies.

    No Caribbean country has made the top 50. The rankings of the other Caricom countries are as follows: St. Lucia (93), Dominica (103), Trinidad & Tobago (105), Antigua and Barbuda (112), The Bahamas (118), Belize (125), Barbados (129), St Vincent and the Grenadines (130), Guyana (134), St Kitts and Nevis (140), Grenada (147), Suriname (165) and Haiti (182).

    The Dominican Republic, which is not a CARICOM country but is part of CARIFORUM, has a ranking of 102. Puerto Rico, a Commonwealth of the US, is the Caribbean region’s easiest place to do business, with a ranking of 64.

    Globally, New Zealand was ranked the easiest place to do business (1), while Somalia was ranked as the least (190). Turning to small States, Singapore was ranked second, while Mauritius continued its upward climb, with a current rank of 20th.

    The World Bank reported a record 314 regulatory reforms between June 2, 2017 and May 1, 2018. Some 128 economies introduced ‘substantial regulatory improvements’ which made doing business easier in all areas measured. The following economies internationally were singled out as having made the most improvement: Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Kenya, Cote D’Ivoire, Turkey and Rwanda.  

    The full World Bank Doing Business Report 2019 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.