Tag Archives: caribbean trade and development digest

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.

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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.

Caribbean Trade & Development Digest – January 27 – February 2, 2019

Welcome to the Caribbean Trade & Development Digest for the week of January 27 – February 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.

THIS WEEK’S HIGHLIGHTS

On the Brexit front, UK Prime Minister Theresa May won support from British MPs for a renegotiation of the Draft Withdrawal Agreement, in particular the removal of the ‘Irish Backstop’, the controversial ‘insurance policy’ to avoid a hard border between the Northern Ireland and Republic of Ireland in the event that the UK and EU are unable to reach a trade deal within the transition period.

However, the EU, including the Republic of Ireland, remains adamant that the current draft Withdrawal Agreement is not up for renegotiation and that the backstop cannot be removed. The UK is due to leave the EU on March 29, 2019.

Another major trade policy development is that the EU-Japan Economic Partnership Agreement has come into force. Additionally, the latest round of trade talks between the US and China have been hailed as a success.

Regionally, some CARICOM leaders initiated a visit to the United Nations (UN) on the situation in Venezuela.

REGIONAL

$10m Investor: We Can Defeat WTO ‘Concerns’

The Bahamas Tribune: A $10m poultry farming investor yesterday expressed confidence that The Bahamas could follow Jamaica’s self-sufficiency lead despite its “concerns” over WTO’s potential impact. Read more 

JMEA head cites one-sided trading conditions affecting Jamaica

LoopJamaica: President of the Jamaica Manufacturers and Exporters’ A’ssociation (JMEA), Metry Seaga, has described the favourable trade conditions that Jamaica extends to its overseas trading partners as being one-sided, saying that too often the same treatment is not returned to the country’s manufacturers and exporters. Read more 

Port Operator KFTL Boasts Record Container Moves In A Day

Jamaica Gleaner: Kingston Freeport Terminal Limited, KFTL, a subsidiary of the French-based shipping company CMA CGM, said that on January 24 it recorded the best performance ever in the history of the port of Kingston in terms of container moves. Read more 

Statistical Institute of Belize: Belizeans paid an average of 30 cents more for goods and services in 2018

Breaking Belize News: For the year 2018, Belizeans paid an average of 30 cents more for goods and services, while for the month of December specifically, consumer prices were about 10 cents less when compared to the year before. Read more 

Statement on second day of visit to the UN by Delegation of CARICOM Member States

CARICOM: On Tuesday, 30 January 2019, the delegation of the Caribbean Community (CARICOM) comprising Dr the Hon. Timothy Harris, Prime Minister of S.Kitts and Nevis (Chairman of CARICOM) and Dr the Hon. Keith Rowley, Prime Minister of Trinidad and Tobago, the Hon. Peter David, Foreign Minister of Grenada, H.E. Irwin LaRocque, CARICOM Secretary-General, as well as the Permanent Representatives of these countries continued its engagements at the United Nations and at the Trinidad and Tobago Permanent Mission in New York on the situation in the Bolivarian Republic of Venezuela and its implications for the Community. Read more 

Belize exports first shipment of crude soybean oil to Jamaica

LoveFM: Belize has made its first shipment of crude soybean oil to Jamaica. The five containers were exported last week and were supplied by Bel-Car Exports and Imports located in Spanish Lookout, Cayo District and Northern Grains Cooperative located in Blue Creek, Orange Walk District. Read more 

CARICOM Leaders To Meet With UN Secretary General On Venezuela

Jamaica Gleaner: Caribbean Community (CARICOM) leaders are to meet with the United Nations Secretary General Antonio Guterres on Monday to discuss the ongoing political situation in Venezuela where the government of President Nicolas Maduro is under international pressure to step down. Read more 

Barbados hosting EU funded meetings

TV6: Barbados is hosting a two-day consultation aimed at continuing the development of a framework for an effective platform for structured and continuous dialogue between the Caribbean Forum (CARIFORUM) and French Caribbean Outermost Regions (FCORs) and British and Dutch Overseas Countries and Territories (OCTs). Read moreRead more

WTO lacks clout on dispute rulings

Bahamas Tribune: The failure to enforce its rulings on trade disputes is among the “biggest criticisms” that can be levelled against the World Trade Organisation (WTO), a Bahamian arbitrator has charged. Read more 

INTERNATIONAL

1-in-3 UK firms have relocation plans due to Brexit

Euractiv: Brexit has prompted almost a third of British companies to move some operations abroad or at least consider it, a survey from an employers group showed on Friday (1 February). Read more 

UAE initiates WTO proceedings against Qatar

Gulf News: The UAE Government announced on Tuesday that it has initiated World Trade Organisation, WTO, dispute-settlement proceedings against Qatar following its ban of the sale of UAE products in Qatari markets. Read more 

China, U.S. make important progress in trade talks, paving way for further consultations

Xinhua: Negotiators from China and the United States have made important progress in the latest round of high-level talks to resolve their economic and trade frictions, laying foundation for further consultations, according to the visiting Chinese delegation. Read more 

Is WTO Article 24 the antidote to a No Deal Brexit? Euronews Answers

Euronews: Nigel Farage, one of the UK’s leading proponents of a ‘hard Brexit’ told Euronews yesterday that the negative impacts of Britain leaving the EU without a deal could be eliminated by the use of “Article 24 of the World Trade Organisation (WTO)”. Read more 

Trump sends Congress list of planned USMCA trade policy changes

Washington Examiner: The Trump administration formally gave Congress a list of its proposed changes to trade policy, requests that will put the U.S.-Mexico-Canada Agreement on trade into effect. Read more 

WTO chief is in denial over climate impact of trade 

Climate Change News: When the head of the World Trade Organisation (WTO) says trade does not impact the environment, we should all be worried. Read more 

US, China may cross swords on e-commerce at WTO

VoA: China has given up its long-held resistance to the World Trade Organization’s push for global standards for the $27 trillion e-commerce market. Some analysts say this is a direct result of the trade war with the United States, which is forcing China to seek wider cooperation with trading countries. Read more

Sturgeon to visit US and Canada for talks on trade links

BBC: First Minister Nicola Sturgeon is to visit the US and Canada next week. The trip is planned in a bid to build stronger trade links between Scotland and North America. Read more

Japan-EU free trade deal takes effect

NHK: A comprehensive free trade deal between Japan and the European Union has come into force. The pact will eventually remove tariffs on more than 90 percent of imports from both sides and liberalize rules in a broad spectrum of fields. Read more

Brexit: MPs back May’s bid to change deal

BBC: MPs have backed seeking “alternative arrangements” to replace the Irish backstop in Theresa May’s Brexit plan. Read more 

Safeguards in free trade agreements: Council adopts horizontal framework for bilateral measures

EU: The EU will soon have in place an overall framework for ensuring consistency of safeguard measures included in free trade agreements. The Council today adopted a regulation streamlining the inclusion of safeguard measures in trade agreements so that they are applied effectively and consistently across the board.  Read more

Iraq, Jordan sign free trade agreement

Middle East Monitor: Jordan has reached a new agreement on free trade with Iraq, the country’s Deputy Prime Minister, Rajai Muasher, said yesterday. Read more 

UK cannot simply trade on WTO terms after no-deal Brexit, say experts

The Guardian: The UK will be unable to have frictionless, tariff-free trade under World Trade Organization rules for up to seven years in the event of a no-deal Brexit, according to two leading European Union law specialists. Read more 

WTO Launches Investigation Into Trump’s China Tariffs, Official Says

Bloomberg: The World Trade Organization launched an investigation into President Donald Trump’s tariffs on $250 billion of Chinese goods, ratcheting up tensions as the two nations are set to begin a new round of trade talks, according to an official with knowledge of the probe. Read more 

EU to fight US tariffs on Spanish olives at WTO

Deutsche Welle: The European Comission will back Spain’s fight to defend its olive exporters, who were hit by Donald Trump’s tariffs in June 2018. Madrid considers the punitive measure to be “an evident prejudice” on olive producers. Read more 

China accuses US of a ‘blatant breach’ of trade policy in WTO meeting

CNBC: Chinese representatives met with the World Trade Organization on Monday to begin the process of legally challenging United States tariffs on China’s exports, Reuters reported, citing a transcript of the meeting’s discussion. Read more 

WTO NEWS

United Arab Emirates requests consultations with Qatar on goods restrictions

WTO: The United Arab Emirates has requested WTO dispute consultations with Qatar regarding certain measures restricting the import, distribution and sale of goods in Qatar from the UAE (DS576). The request was circulated to WTO members on 31 January. Read more

European Union initiates WTO dispute proceedings against US olive duties

WTO: The European Union has requested WTO dispute consultations with the United States concerning US anti-dumping and countervailing duties imposed on imported ripe olives from Spain. The request was circulated to WTO members on 31 January. Read more 

Panels established to rule on US, Turkish tariff measures

WTO: At a meeting of the Dispute Settlement Body (DSB) on 28 January, WTO members agreed to establish a dispute panel to rule on additional duties imposed by the United States on certain imports from China. Members also agreed to establish a panel to rule on additional duties levied by Turkey on certain imports from the United States. 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 – January 20-26, 2019

Welcome to the Caribbean Trade & Development Digest for the week of January 20-26, 2019! We do apologise for the delay in this week’s issue. 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 big trade news this week is that on the sidelines of the World Economic Forum (WEF) meeting in Davos, Switzerland, some seventy-six World Trade Organisation (WTO) members agreed to launch negotiations on an e-commerce agreement.

Below are the other major trade and development headlines from across the Caribbean region and the world for last week:

REGIONAL

Tariff Flaws Crippling CARICOM Exports, Says Trade Expert

Jamaica Gleaner: Trade expert Karl Hyatt has called for meaningful amendments to the Common External Tariff (CET) now under review to address some of the entrenched flexibility that has been abused by some CARICOM states. Read more 

Dominica blasts international financial community over unilateral demands, calls for CARICOM unity

St Lucia News Online: The Dominica government Monday blasted the international community over its unilateral demands for tightening measures within the international financial services sector and again called for a united Caribbean Community (CARICOM) approach to the situation. Read more 

Jagdeo meets CARICOM Chairman on no-confidence motion

Stabroek: The Leader of the Opposition, Dr. Bharrat Jagdeo,  today met with the Chairman of CARICOM, Dr. Timothy Harris, Prime Minister of St. Kitts and Nevis and a team, including CARICOM-Secretary-General, Ambassador Irwin LaRocque , at the Office of the Leader of the Opposition on Church Street. The meeting discussed the no-confidence motion against the current APNU+AFC coalition government, a statement from Jagdeo’s office said. Read more 

Private Sector and Labour Leaders to Participate in Caricom Heads Meetings

JIS News: The revised Treaty of Chaguaramas is to be amended to allow representatives of the private sector and the Caribbean Congress of Labour to participate in CARICOM Heads of Government meetings, says Barbadian Prime Minister, Hon. Mia Mottley. Read more 

Statement by Heads of Government of CARICOM on Venezuela

CARICOM: The following Heads of Government of the Caribbean Community (CARICOM) – Antigua and Barbuda, Barbados, Belize, Dominica, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Trinidad and Tobago; Foreign Ministers of Grenada and Suriname;, meeting by video-conference on 24 January 2019, issued the following statement. Read more 

High level CARICOM talks held in Guyana

St. Kitts & Nevis Observer: The Prime Minister of St. Kitts and Nevis and current Chairman of the Caribbean Community (CARICOM), Dr. the Honourable Timothy Harris, is currently in the Cooperative Republic of Guyana where he is holding several rounds of discussions with top level CARICOM officials, including Secretary-General, Ambassador Irwin LaRocque. Read more 

CARICOM Development Fund clinches US$1m pact with India

Stabroek: India and the CARICOM Development Fund (CDF) signed a Contribution Agreement on January 19th, 2019, in Paramaribo Suriname which provides for a grant allocation of US$1m to the CDF’s capital fund. Read more 

INTERNATIONAL

DAVOS-Nearly half WTO members agree to talks on new e-commerce rules

Reuters: Impatient with the lack of World Trade Organization rules to cover the explosive growth of e-commerce, 76 countries and regions agreed on Friday to start negotiating this year on a set of open and predictable regulations. Read more 

Uruguay diverges from Mercosur, aligns with Mexico on Venezuela crisis

Buenos Aires Times: Uruguay and Mexico call for peaceful resolution in a joint statement released Wednesday, after opposition leader Juan Guaido declares himself interim president. Read more 

Brexit trade deal agreed by British and Israeli ministers, in principle

Jewish News: British and Israeli ministers have announced that they have agreed a post-Brexit trade agreement in principle. Read more 

Brexit: New Zealand’s Jacinda Ardern says trade deal ‘a priority’

BBC: New Zealand’s prime minister has said she is “ready and willing” to sign a post-Brexit trade deal with the UK. Jacinda Ardern said negotiating a free trade agreement would be a “real priority” once the UK had left the EU. Read more

Japan-U.S. talks on bilateral trade deal likely to face delay

Japan Times: Japan and the United States are unlikely to open negotiations on a proposed bilateral trade pact before the end of this month, due chiefly to the prolonged partial U.S. government shutdown, sources have said. Read more 

Commerce Secretary Wilbur Ross: The US is still ‘miles and miles’ from a trade deal with China

CNBC: Commerce Secretary Wilbur Ross said Thursday the U.S. is still “miles and miles” from a trade deal with China. Read more

No Sweeping Free Trade Deal, Brussels Tells Washington

Foreign Policy: Six months after U.S. President Donald Trump proclaimed he’d already reached a trade deal with the European Union, Brussels has only now laid out its preliminary conditions for talks. Read more 

Expert urges caution over speedy trade deal with EU

Radio New Zealand: A trade expert is advising negotiators not to rush a free trade agreement with the European Union, New Zealand’s third largest export market. Read more

Brexit: Liam Fox yet to seal no-deal trade agreements

BBC: The UK has yet to finalise agreements to replace existing free trade deals the EU has with 40 big economies if there is a no-deal Brexit. International Trade Secretary Liam Fox said he “hoped” they would but it depended on whether other countries were “willing to put the work in”. Read more 

WTO NEWS

United States appeals panel report regarding US duties on Turkish pipe and tube products

WTO: The United States filed an appeal on 25 January concerning the WTO panel report in the case brought by Turkey in “United States — Countervailing Measures on Certain Pipe and Tube Products” (DS523). The panel report was circulated to WTO members on 18 December 2018. Read more 

DG Azevêdo meets ministers in Davos: discussions focus on reform; progress on e-commerce

WTO: Participating in a series of ministerial discussions during the World Economic Forum Annual Meeting in Davos this week, Director-General Roberto Azevêdo reviewed the challenges and opportunities facing global trade today, and stressed that the trading system must evolve if it is to remain relevant. Read more 

DDG Yi stresses importance of WTO-APEC cooperation in crucial period for global trade

WTO: Deputy Director-General Yi Xiaozhun has stressed the importance of exploiting the synergies between the WTO and the Asia-Pacific Economic Cooperation (APEC) in a crucial period for global trade. Read more 

Registration opens for public hearing in “US — Countervailing Measures on Softwood Lumber from Canada”

WTO: At the request of the parties in the dispute “US — Countervailing Measures on Softwood Lumber from Canada” (DS533), the panel has decided to open its first substantive meeting to public observation on 26, 27, and 28 February 2019. The live screening will take place at the WTO’s headquarters in Geneva. 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 and Development Digest – January 13 – 19, 2019

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

Brexit turbulence has dominated the headlines for yet another week. British MPs, as expected, voted against the current Withdrawal Agreement negotiated by Prime Minister Theresa May’s government with the EU. With 432 votes against, versus just 202 in favour of the deal, it was the biggest legislative loss for a British Government in modern British history. Coupled with narrowly surviving a no confidence motion brought by the Leader of the main opposition, Labour Leader Jeremy Corbyn, Prime Minister May now has three days  (until Monday) to bring a ‘Brexit Plan B’ to Parliament.

On January 19, 2018, the eleven parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) held their first ministerial meeting since its entry into force on December 30, 2018, in Japan this week.

Below are the other major trade and development headlines from across the Caribbean region and the world for last week:

REGIONAL

Trump weighs dramatic tightening of embargo on Cuba

Associated Press: The Trump administration is weighing what could become the most serious tightening of the U.S. trade embargo on Cuba in more than two decades — a move that could unleash a flurry of lawsuits against foreign companies that have invested on the island. Read more 

Shaw wants more aggressive approach to trade facilitation programme

Jamaica Observer: Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw has called on Government agencies and departments to move with a greater sense of urgency to facilitate trade and the private sector’s need for a more responsive Government. Read more

Cuba, Iran to improve trade relations

Prensa Latina: The 17th Session of the Cuba-Iran Intergovernmental Commission, whose main goal is to expand collaboration on various economic and social areas, has concluded on Wednesday in Havana. Read more 

Antigua & Barbuda hit visitor arrival record 

Caribbean360: Antigua and Barbuda welcomed over one million visitors to the destination in 2018, topping 2017 figures and leading Antigua and Barbuda Minister of Tourism Charles Fernandez to call 2018, “a record-setting year” for the twin-island nation. Read more

Correspondent banking still an issue for CARICOM

Love FM (Belize): Plaguing Belize and other Caribbean countries is the issue of correspondent banking, CARICOM along with groups have been lobbying for restored relations. Read more

Jamaica says buy-back of Petrojam shares not a CARICOM issue

Jamaica Observer: Minister of Foreign Affairs and Foreign Trade Senator Kamina Johnson Smith has dismissed Opposition criticisms that the Government has not involved the Caribbean Community (Caricom) in its negotiation of a buy-back of the 49 per cent shares in Petrojam from Venezuela. Read more 

Gopee-Scoon: TT preparing for Brexit

Newsday: Trade and Industry Minister Paula Gopee-Scoon on Wednesday said TT was doing what it could to deal with the outcome of the Brexit process in the UK. Read more

PM: OAS vote on Venezuela was in Trinidad’s interest

Newsday: The Prime Minister says the decision to abstain on a vote by the Organisation of American States to not recognise the legitimacy of the presidency of Venezuelan President Nicolas Maduro was done in the country’s interest. Read more 

Trinidad & Tobago Rice production plummets 97%

Newsday: LOCAL rice production has plummeted about 97 per cent in the past 26 years and 95 per cent of what is currently produced is used as input for animal feed. Read more

Jamaica exports grew 17.6% in Q1 2018

Jamaica Gleaner: Exports of Jamaica increased 17.6 per cent year-on-year in the first quarter of 2018, according to an Inter-American Development Bank (IDB) report which said that sales from Latin America and the Caribbean to overseas markets were the highest in six years. Read more

Arley Gill to be Grenada’s new ambassador to CARICOM

Now Grenada: Arley Gill is nominated to be Grenada’s new ambassador to CARICOM. Read more

IDB: Latin America, Caribbean register highest exports in six years 

Jamaica Gleaner: The Inter-American Development Bank (IDB) says exports from Latin America and the Caribbean, including Jamaica, hit their highest level in six years as a result of a 9.9 per cent increase in 2018, albeit amid growing downside risks in the future. Read more 

INTERNATIONAL

These are the biggest risks to the global economy in 2019

World Economic Forum: Major risks include a growth recession in China, a rise in global long-term real interest rates, and a crescendo of populist economic policies that undermine the credibility of central bank independence, resulting in higher interest rates on safe, advanced-country government bonds. Read more 

Expansion of Pacific trade deal discussed at ministerial meeting in Tokyo

Japan Times: The 11 members of a trans-Pacific free trade agreement on Saturday held their first ministerial meeting since the pact entered into force, discussing its future expansion as well as how to counter the rise of protectionism. Read more 

China Offers a Path to Eliminate U.S. Trade Imbalance, Sources Say

Bloomberg: China has offered to go on a six-year buying spree to ramp up imports from the U.S., in a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations. Read more 

Malaysia hopes for RCEP to finalise by end-2019

New Strait Times: Malaysia hopes to conclude talks with other Regional Comprehensive Economic Partnership (RCEP) member countries by the end of this year. Read more 

CPTPP members signal intent to expand the agreement

Strait Times: Members of a landmark 11-nation Pacific Rim trade deal have signalled their openness to expand the agreement by taking in new members to form a stronger united front against the rise of protectionism. Read more 

Climate change clouds Australia’s Pacific charm offensive 

ABS-CBN: Australian Prime Minister Scott Morrison’s Pacific charm offensive went off course on Friday when he was forced to defend Fiji’s accusations of inaction over climate change.  Read more

India keen on closer trade ties with neighbours

Daily Star: India is keenly promoting the trade potential of its northeastern states because it would not only give an economic boost to the region but also enable closer engagement with Bangladesh, Myanmar and Bhutan. Read more

Can ASEAN cope with the trade war?

Strait Times: Asean is facing a prolonged period of heightened United States-China competition and, hence, of greater uncertainty. The most obvious manifestation of this new phase in relations between the two nations is the so-called “trade war”. Read more

Trudeau’s U.S. Envoy Confident on USMCA Passage, Tariff Relief

Bloomberg: Canada’s ambassador to Washington is confident that the U.S. will both pass the revised North American trade deal and lift tariffs on steel and aluminum. Read more 

New trade agreements secure Australian exports to Britain post-Brexit

Sydney Morning Herald: Australia and Britain have signed a new bilateral Wine Agreement and Mutual Recognition Agreement overnight in London, which will help ensure the continued flow of trade post-Brexit. Read more 

Lifting trade barriers key to Africa’s economic emergence, DP World chairman says

The National: DP World’s chairman urged African leaders to lift barriers on trade after the global ports operator last year pushed to expand its footprint in the continent where it faces some opposition to its operations. Read more 

AfCFTA seeks to increase intra-Africa trade

KBC (Kenya): African states are nearing the threshold of 22 countries to help operationalise the African Continental Free Trade Agreement (AfCFTA). Read more 

Vietnam-Africa trade reaches US$6.6 million in 2018

Nhan Dan Online: Bilateral trade between Vietnam and African nations hit US$6.6 billion in 2018, with Vietnam’s exports worth US$3 billion, up 10% from the previous year. Read more 

Voters would back remaining in EU over May’s Brexit deal

The Guardian: Opinium poll for the Observer finds only 35% of voters would back Theresa May’s deal if remain was an option. Read more 

Brexit; Theresa May’s deal is voted down in historic defeat 

BBC: Prime Minister Theresa May’s Brexit deal has been rejected by 230 votes – the largest defeat for a sitting government in history. MPs voted by 432 votes to 202 to reject the deal, which sets out the terms of Britain’s exit from the EU on 29 March. Read more

Theresa May survives vote, Britain remains in Brexit deadlock

The Guardian: Theresa May has survived as prime minister after weathering a dramatic no-confidence vote in her government, but was left scrambling to strike a Brexit compromise that could secure the backing of parliament. Read more 

May scrambles to agree plan B for Brexit ahead of deadline

Sky News: The PM will meet with cabinet ministers at her Chequers retreat but has until Monday to come up with a new plan for Brexit. Read more

Amazon warns UK sellers to prepare for no-deal Brexit disruption to deliveries

Independent: Amazon has warned UK businesses trading through its online marketplace to prepare for a no-deal Brexit or risk not being able to sell to customers in the EU. Read more 

Brexit: Liam Fox yet to seal no-deal trade agreements

BBC: The UK has yet to finalise agreements to replace existing free trade deals the EU has with 40 big economies if there is a no-deal Brexit. Read more 

The EU moves forward efforts at UN on multilateral reform of ISDS

EU: Today, the EU and its Member States submitted two papers to the UN Working Group under the United Nations Commission on International Trade Law (UNCITRAL). The Working Group has been tasked with examining reform of investor-state dispute settlement (ISDS). Read more 

EU-US Trade Talks: European Commission presents draft negotiating mandates

EU: The European Commission has today adopted proposals for negotiating directives for its trade talks with the United States: one on conformity assessment, and one on the elimination of tariffs for industrial goods. Read more 

EU imposes safeguard measures on rice from Cambodia and Myanmar

EU: An investigation has confirmed a significant increase of imports of Indica rice from Cambodia and Myanmar into the European Union that has caused economic damage to European producers. The European Commission has therefore decided today to re-introduce import duties that will be steadily reduced over a period of three years. Read more

EU Chief Negotiator updates civil society on the state of play of negotiations with Mercosur

EU: On Tuesday 15 January the European Commission held a meeting with civil society representatives on the state of play of trade negotiations between the EU and Mercosur (Argentina, Brazil, Paraguay and Uruguay). Read more 

EU requests bilateral dispute settlement consultations with Ukraine over wood export ban

EU: The EU has formally requested consultations with Ukraine under the EU-Ukraine Association Agreement on Ukraine’s export ban on unprocessed wood. Read more 

European Commission set to adopt definitive safeguard measures on imports of steel

EU: The European Commission welcomes the support received yesterday from Member States to its plan to impose definitive safeguard measures on imports of steel. Read more 

WTO NEWS 

General Council Chair appoints facilitator to address disagreement on Appellate Body

WTO: General Council Chair Junichi Ihara of Japan has appointed Amb. David Walker of New Zealand to assist him in working with WTO members to resolve differences on the urgent matter of the functioning of the organization’s Appellate Body. Read more

Venezuela initiates WTO dispute case against Colombia regarding liquid fuel restrictions

WTO: Venezuela has requested WTO dispute consultations with Colombia regarding certain Colombian measures affecting the distribution of liquid fuels. Venezuela’s request was circulated to WTO members on 14 January. Read more 

Members review US request for panel on Turkish duties, adopt rulings on Brazil tax, US tuna

WTO: At a meeting of the Dispute Settlement Body (DSB) on 11 January, WTO members considered a request from the United States for the establishment of a panel to rule on additional duties levied by Turkey on certain US imports. WTO members also formally adopted panel and Appellate Body rulings concerning tax measures in Brazil used to promote domestic production of automotive and high-tech goods as well as revised US “dolphin-safe” tuna labelling requirements. 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 – January 1 – 13, 2019

Happy New Year! Welcome to the first Caribbean Trade & Development Digest for 2019! We do hope you all had an enjoyable holiday season! In this first edition for 2019, we are happy to bring you the latest trade and development news and analysis for  January 1-12, 2019

THIS WEEK’S HIGHLIGHTS

US and Chinese negotiators met in Beijing from January 7-9 for their first round of US-China trade talks since their declaration of a 90-day tariff truce in December last year. The US-China talks have been hailed as positive by both sides, but the two economic behemoths are still a long ways off from resolving their long-simmering trade differences. The USTR statement released following the conclusion of the talks may be read here, while a translated version of the statement released by China is available here.

While welcomed, the truce may be “too little, too late”. In its Global Economic Prospects – January 2019 report, ominously titled ‘Darkening Skies’, the World Bank has warned of a darkening outlook for the global economy in 2019 in the face of still elevated trade tensions and softening global trade and investment.

The Brexit chaos continues…The British House of Commons MPs last week voted to require the Prime Minister to present to Parliament a ‘Plan B’ within three-days if MPs reject the current Draft Withdrawal Agreement in their upcoming vote this Tuesday (January 15th). Labour Leader Jeremy Corbyn is calling for a general election to break the Brexit ‘deadlock’.

Regionally, Prime Minister of St. Kitts & Nevis, Dr. The Hon. Timothy Harris, has assumed chairmanship of CARICOM (January – June 2019) under the grouping’s rotating chairmanship. Dr. Harris’ New Year’s message as incoming chairman may be viewed here.

The CARICOM divide on the question of Venezuela has widened as some CARICOM Member States voted in favour of, and some against, an OAS Permanent Council resolution to not recognise the second term of Venezuelan President, Nicolas Maduro. Some CARICOM Member States abstained.

Several Caribbean offshore financial centres, including some British Overseas Territories, have been included in a blacklist by the Government of the Netherlands. The backlash by the countries unfairly named has been swift.

Below are the other major trade and development headlines from across the Caribbean region and the world for last week:

REGIONAL

Jamaica takes action to safeguard energy security

JIS News: In an effort to safeguard Jamaica’s energy security, the Government will take legislative action to retake ownership of the 49 per cent shares in Petrojam, which is held by the Venezuelan state-owned oil and natural gas company, PDV Caribe. Read more 

Joining WTO no ‘snap election’ decision

Tribune242: Jeffrey Beckles, the newly-appointed Chamber of Commerce chief executive, told Tribune Business that deciding whether or not it was in The Bahamas’ best interests to become a full World Trade Organisation (WTO) member was a decision that will impact all citizens “for the rest of our lives”. Read more

‘Buy Bahamian’ best defence under WTO

Tribune242: Zhivargo Laing, pictured, speaking as he unveiled The Bahamas’ initial goods and services offers that kickstarted the process of accession to full WTO membership, conceded that Bahamian manufacturers and other vulnerable industries would face intense pricing and other competitive pressures if they lost their existing tariff protection as a result. Read more 

Dutch blacklist unjustified diversion tactic

Caribbean News Now: The Cayman Islands government has accused The Netherlands of including the British territory on its separate blacklist as a way of diverting criticisms of its own tax practices by attacking legitimate tax regimes. Read more 

Regional trade with the US

Trinidad Guardian: T&T exporters to the US could lose up to US$400 million in special tariff benefits next year if the Caribbean Basin Trade Partnership Act (CBTPA) fails to be renewed when it crosses US President Donald Trump’s desk this year, senior trade consultants calculated last week. Read more 

Cuba to expand facilities for foreign trade

Caribbean News Now: Cuba will develop an integrated digital platform this year in order to facilitate foreign trade operations, which will be linked to the simplification of procedures for the export and import of goods. Read more 

Jamaica’s trade deficit with CARICOM widens

Jamaica Gleaner: Jamaica’s trade deficit with the Caribbean Community, (CARICOM), increased to US$351.2 million during the period January to October last year, according to the figures released by the Statistical Institute of Jamaica (STATIN). Read more 

EU provides millions in budgetary support to Montserrat

Caribbean360: The European Union has disbursed EC$17.55 million (US$6.5 million) to the Government of Montserrat as the first fixed tranche under the Multi Sector Sustainable Economic Development Budget Support Programme. Read more 

CARICOM remains divided on Venezuela

TV6: The Bahamas, Jamaica, Guyana, Haiti and St. Lucia supported an Organization of American States (OAS) resolution not recognising the legitimacy of Maduro’s second term as president of Venezuela, while Dominica, St. Vincent and the Grenadines and Suriname voted against the measure. Read more 

Venezuela plans to remap its offshore oil territory

Yahoo Finance: Venezuela will remap its Caribbean oil and gas prospects in a move that could further stoke a century-long border dispute with Guyana and collide with Exxon Mobil Corp.’s venture in the region, people with knowledge of the plan said. Read more

PM Skerrit wants a united approach to investment programme

Jamaica Gleaner: Prime Minister Roosevelt Skerrit has criticised the Organisation for Economic Cooperation and Development (OECD) for labelling several Caribbean countries as tax havens and called for a unified regional approach to deal with the Citizenship by Investment Programme (CBI). Read more 

Ross University Opens in Barbados and Officials Say the Spin-offs Will Benefit Local Education

Caribbean360: The opening of the Ross University School of Medicine’s main campus in Barbados is expected to bring with it a number of benefits to local health care and education. Read more 

Global coconut profile opening huge opportunity for Caribbean economies. But will they seize it?

Stabroek: What is being regarded globally as a breakthrough period for the coconut industry linked to skyrocketing demand for coconut water, oil and other products is being regarded as an opportunity for the region which it cannot afford to pass up. Read more 

Gonsalves reiterates call for unity 

Jamaica Gleaner: Prime Minister Dr Ralph Gonsalves yesterday reiterated a call for the Caribbean Community (Caricom) to adopt a united position regarding the European Union’s request that regional countries pass legislation to deal with what Europe has termed ‘economic substance”. Read more 

Sir Dennis praises Caribbean Court of Justice’s achievements

St Kitts & Nevis Observer: Former President of the Caribbean Court of Justice (CCJ), the Right Honourable Sir Dennis Byron, a native of St. Kitts and Nevis, has praised the accomplishments of the Trinidad-based court, which was established in 2005 to replace the London-based Judicial Committee of the Privy Council as the region’s final court and to function as an international tribunal interpreting the Revised Treaty of Chaguaramas that governs the regional integration movement. Read more 

INTERNATIONAL

Juncker hints at helping out Theresa May over Brexit deal 

The Guardian: has signalled that he will offer a last-minute helping hand to Theresa May in her bid to get her Brexit deal passed by MPs – but hinted at deep scepticism in Brussels at her chances of success. Read more

Macron vows to exclude UK creative industries from future EU deal 

Sunday Express: French President Emmanuel Macron has pledged to restrict market access to the European Union’s markets for Britain’s creative industry in order to protect “cultural diversity” in France. Read more 

US Recession Risks Hit Six-Year High Amidst Trade War and Shutdown 

Bloomberg: Economists put the risk of a U.S. recession at the highest in more than six years amid mounting dangers from financial markets, a trade war with China and the federal-government shutdown. Read more 

Air freight demand flat in November 

IATA: The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), was flat (0%) in November 2018, compared to the same period the year before. This was the slowest rate of growth recorded since March 2016, following 31 consecutive months of year-on-year increases. Read more 

Beijing says latest US-China trade talks were extensive, made progress on forced tech transfers

CNBC: In a Thursday morning statement, China’s Commerce Ministry said the just-concluded round of trade talks with the U.S. were extensive and established a foundation for the resolution of each others’ concerns. Read more 

What is stopping India from joining RCEP trade deal?

Economic Times: If you have been paying attention to developments in global trade, you would already know that the contours of what is poised to become the world’s largest trading bloc is taking shape. India and 15 other nations in Asia and Asia-Pacific regions have been working to sew up contentious remaining areas, forge an agreement and put in place a deal by the end of 2019.  Read more

Design of single African Union passport for all to be unveiled this year

Euronews: The African Union (AU) is set to reveal the design of a passport for all countries, bringing the continent one step closer to completely free movement. Read more

US and China wrap up trade talks in Beijing. What happens next?

CNN: US and Chinese negotiators wrapped up three days of trade talks in Beijing on Wednesday as they seek a way out of the damaging trade war between the world’s two biggest economies. Read more 

New database of all subsidies investigated by EU

EU: The European Commission has made a new database of all its anti-subsidy investigations available on the DG Trade website. Read more

Storm Clouds are brewing for the global economy

World Bank: Growth in emerging market and developing economies is expected to remain flat in 2019. The pickup in economies that rely heavily on commodity exports is likely to be much slower than hoped for. Growth in many other economies is anticipated to decelerate. Read more 

WTO seeks to ban government raids on corporate data

Nikkei Asian Review: As countries such as China tighten control over information flowing across their borders, a group of World Trade Organization members led by the U.S., the European Union, Japan, Singapore and Australia will propose rules that prohibit excessive interference by governments into business-related data. Read more 

Carr to rejoin ‘like-minded’ for next talks on WTO reform at Davos

CBC (Canada): International Trade Diversification Minister Jim Carr’s office has confirmed he’s attending the next gathering of 13 members of the World Trade Organization looking to reform the institution in the face of ongoing threats to the rules-based multilateral trading system. Read more 

Europe ready to help with WTO reform

The Atlantic: A multilateral effort needs to be made to save the World Trade Organization (WTO), the European Union’s Commissioner for Trade Cecilia Malmström said at the Atlantic Council in Washington on January 10, noting that the twenty-four-year-old intergovernmental body to regulate international trade is “under increasing pressure.” Read more 

Brexit: Jeremy Corbyn demands election to ‘break deadlock’

BBC: Labour leader Jeremy Corbyn has stepped up calls for a general election “at the earliest opportunity” to “break the deadlock” over Brexit. Read more 

WTO NEWS

Philippines launches safeguard investigation on ceramic floor and wall tiles

WTO: On 11 January 2019, the Philippines notified the WTO’s Committee on Safeguards that it had decided to initiate on 20 December 2018 a safeguard investigation on ceramic floor and wall tiles. Read more

Venezuela initiates WTO dispute complaint against US measures on goods and services

WTO: Venezuela has requested WTO dispute consultations with the United States regarding US measures affecting goods and services of Venezuelan origin. Venezuela’s request was circulated to WTO members on 8 January. Read more

Turkey launches safeguard investigation on yarn of nylon or other polyamides

WTO: On 3 January 2019, Turkey notified the WTO’s Committee on Safeguards that it initiated on 30 December 2018 a safeguard investigation on yarn of nylon or other polyamides. Read more 

Madagascar launches safeguard investigation on detergent powder

WTO: On 7 January 2019, Madagascar notified the WTO’s Committee on Safeguards that it had decided to initiate on 31 December 2018 a safeguard investigation on detergent powder. Read more

NEW ON THE CTLD BLOG

In Has Canada become Collateral Damage in the US-China Trade War?, our frequent blog contributor, Renaldo Weekes, explores the case involving the arrest of Huawei’s CFO and whether Canada is an unwitting casualty of the US-China trade war.

Have a read of my first blog for the year, Global Trade Policy in 2019: What to Watch?taking a look at the major trade policy news from 2018 and what we’ll be keeping an eye on for 2019!

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 – December 9-16, 2018 (Final for 2018)

Welcome to the final Caribbean Trade & Development Digest for 2018! We are happy to bring you the latest trade and development news and analysis for the week of December 9-16, 2018

As this will be our last edition for 2018, we take this opportunity to thank you for your readership over the past year and to wish you and yours the very best for the season! 

THIS WEEK’S HIGHLIGHTS

At COP24, nearly 200 countries have reached an agreement on the implementing guidelines – the ‘Rulebook’ –  for the operationalization of the Paris Agreement (2015). This agreement came on Saturday night, a day after the two week UN Climate Talks were scheduled to end.

The Brexit saga continued. UK Prime Minister Theresa May postponed a scheduled vote on her draft Withdrawal Agreement with the EU in the face of fervent political opposition, survived a confidence vote and  has been thus far unable to win additional concessions from the EU to placate MPs’ fears about the Withdrawal Agreement.

See my article with Dr. Jan Yves Remy, Deputy Director of the University of the West Indies’ Shridath Ramphal Centre, analysing what these latest Brexit political headwinds mean for CARIFORUM-UK trading relations!

Below are the other major trade and development headlines from across the Caribbean region and the world for last week:

REGIONAL

Antigua-Barbuda calls on WTO to reform dispute settlement body

Caribbean News Now: Antigua and Barbuda has officially intervened in the ongoing discussions concerning the reform of the Dispute Settlement Understanding of the World Trade Organisation (WTO). Read more 

Barbados Ambassador to Geneva sounds warning

CBC (Barbados): Ambassador Blackman was addressing the WTO’s General Council Meeting. He told the body Barbados continues to believe in the WTO’s rules based trading system, but the country remains concerned about the impasse in the selection process for Appellate Body members. Read more 

St Vincent becomes first OECS island to decriminalise marijuana

LoopT&T: Saint Vincent and the Grenadines (SVG) has made history as the first OECS Member State to decriminalise marijuana for medical purposes and scientific research. Read more 

CARICOM to review intra-regional transportation

LoopBarbados: Come next year, the Caribbean region will see a host of new measures, including improved intra-regional transportation. Read more 

Antigua Asks For Delay In Further Free Movement, Says It Already Has Large Numbers Of CARICOM Nationals

Antigua News Room: The Government of Antigua and Barbuda says it has asked to be excluded, for now from implementing measures under Caricom which would see free movement of more classes of people. Read more

CARICOM Secretary General holds talks with Aruba on associate membership

TV6 (Trinidad): The  Secretary-General of the Caribbean Community (CARICOM), Ambassador Irwin LaRocque  on Wednesday met with Prime Minister of Aruba Hon Evelyn Wever-Croes on Associate Membership in the 15 member regional grouping – the Caribbean Community (CARICOM)  for the Dutch Territory. Read more 

Regional Statement on the IPCC Special Report 

CARICOM Today: CARICOM ministers with responsibility for addressing climate change released a statement on the IPCC’s Special Report. Read more 

Belize accepts chairmanship of AOSIS

CARICOM: Belize’s acceptance of the chairmanship of AOSIS from the Maldives in January 2019. Belize will hold the chairmanship for two years to be followed by Antigua and Barbuda in 2021. Read more 

INTERNATIONAL

UK and Switzerland agree to transition trade agreement after Brexit

UK Government: The UK Government and the Swiss Federal Council have approved the transition of a trade agreement, allowing businesses to continue trading freely after the UK leaves the European Union. Read more 

Commission reports on trade negotiations with Australia, New Zealand and Indonesia

EU: As part of its commitment to transparency, the European Commission published today a report from the latest round of negotiations between the EU and Australia, as well as the EU’s six initial text proposals tabled during this round. Read more 

U.S. Rejects the EU’s Trade Reform Proposal, Putting WTO at Risk

Bloomberg: The U.S. rejected the European Union’s proposal to reform the World Trade Organization, dealing a blow to international efforts to bolster the Geneva-based body, which has come under attack from President Donald Trump’s administration. Read more 

EU-Japan trade agreement on track to enter into force in February 2019

EU: The European Commission welcomes today’s approval in the European Parliament of the EU-Japan Economic Partnership Agreement and the EU-Japan Strategic Partnership Agreement. Read more

China buys US soybeans for first time since trade war

BBC: China has bought US soybeans for the first time since the trade war between the two countries started in July. The country’s finance ministry also confirmed it would temporarily reduce tariffs on US car imports from 40% to 15%, beginning on 1 January. Read more 

Shipping costs from China to the US have more than doubled as trade war sparks a ‘bonanza’

CNBC: The price of shipping a container from China to the United States has risen dramatically in the last year due to uncertainty surrounding trade tensions between Washington and Beijing. Read more 

AEC pushes for an inclusive African Continental Free-Trade Agreement

African Review: A successful implementation of the African Continental Free Trade Area (AfCFTA) agreement cannot be achieved without the “people dimension,” ensuring that the integration process does not lead to widening inequalities or exclusion, the AEC Forum observed. Read more 

Appellate Body issues report on revised US “dolphin-safe” tuna labelling measure

WTO: On 14 December the Appellate Body issued its report in the cases brought by Mexico and the United States in “United States — Measures Concerning the Importation, Marketing and Sale of Tuna and Tuna Products — Second Recourse to Article 21.5 of the DSU by Mexico” (DS381). Read more 

India appeals panel ruling in dispute with Japan over safeguard duties on steel products

WTO: India filed an appeal on 14 December concerning the WTO panel report in the case brought by Japan in “India — Certain Measures on Imports of Iron and Steel Products” (DS518). The panel report was circulated to WTO members on 6 November. Read more 

Appellate Body issues report regarding Brazil tax measures

WTO: On 13 December the Appellate Body issued its report in the cases by the European Union and Japan in “Brazil — Certain Measures Concerning Taxation and Charges” (DS472 and DS497). Read more

Trade Policy Review Body: Overview of developments in the international trading environment

WTO: Speech by WTO Director General Roberto Azevedo. Read more.

WTO-World Bank joint publication highlights need for policies to maximize trade gains for extreme poor

WTO: Trade has made a significant contribution to poverty reduction but further integration of developing countries into international markets and policies to share the gains from trade more widely will be essential for further reducing poverty and ensuring that no one is left behind, according to a joint publication by the World Bank Group and the World Trade Organization launched today (11 December). Read more 

Report shows sharp rise in the coverage of trade-restrictive measures from WTO members

WTO: The Director-General’s annual overview on trade-related developments presented to members on 11 December at a meeting of the Trade Policy Review Body (TPRB) shows a significant increase in trade coverage of trade restrictive measures by WTO members from mid-October 2017 to mid-October 2018. Read more

EU parliament approves huge free trade deal with Japan

Japan Today: The European Parliament on Wednesday approved an accord with Japan that has been dubbed the world’s biggest trade deal, covering economies that represent a third of the world’s GDP. 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.

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