Caribbean Trade Law and Development

Tag: caribbean trade and development digest

  • Caribbean Trade & Development News Digest – November 8-14, 2020

    Caribbean Trade & Development News Digest – November 8-14, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of November 8-14, 2020! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    Fifteen States, comprising 30% of the world’s economy, have signed the world’s largest trading bloc – the Regional Comprehensive Economic Partnership (RCEP). The signatory States include all 10 ASEAN Member States, Australia, China, Japan, South Korea and New Zealand. Read more here.

    The EU has put in place countermeasures against the US with respect to the WTO Boeing dispute, increasing tariffs on U.S. exports into the EU worth $4 billion. Read more here.

    EU and UK negotiators resumed Brexit talks in London but appear no closer to a post-Brexit deal as time for the end of the transition period runs out.

    Belizeans went to the polls this week and voted for a change of government. John Briceno has been sworn in as Belize’s new Prime Minister. Read more here.

    The Caribbean Community (CARICOM) has released a statement congratulating President-elect Joe Biden and Vice President Kamala Harris. Regional experts have been weighing in on what the Biden/Harris victory could potentially mean for US-Caribbean relations. I have included some of the articles below. You can also read my analysis here.

    REGIONAL

    Don’t expect Biden to rescue the Caribbean, says Bernal

    Jamaica Observer: There will be no financial windfall for the Caribbean from a Joe Biden-led US Government cautions Richard Bernal, former Jamaican ambassador to the USA, who on Friday shared his views on the foreign policy implications of a Biden win. Read more

    UWI’s Beckles: Biden/Harris victory a ‘win’ for Caribbean

    TT Newsday: UWI Vice-Chancellor Sir Hilary Beckles says the Biden/Harris victory is also “a win” for the Caribbean. He was speaking at a virtual media conference on Thursday afternoon under the theme Caricom, the UWI, Biden and the Future of Our Voice. Read more

    Sir Ronald Sanders: The world is waiting to breathe normally again

    Jamaica Observer: Caribbean Community (Caricom) countries should by now have worked out a strategy for securing the early attention of United States President-elect Joe Biden and the team working on his transition into the White House and to the helm of the Government. Read more

    What a Biden-Harris win means for Jamaica and the Caribbean

    Guyanese Online: While there will be considerable euphoria and pride in a Joe Biden-Kamala Harris win in the US presidential race, Jamaica-born New York-based political scientist, Diana Cassells, is cautioning Jamaica and the Caribbean about their expectations at this time. Read more

    American legislators with C’bean roots jubilant over Biden-Harris victory

    Jamaica Observer: Caribbean American legislators in the United States on Saturday celebrated the election of US Democratic Presidential nominee Joe Biden and his Caribbean American vice-presidential running mate Senator Kamala Harris. Read more

    Coffee exporters seeking to retain US$10 million in exports to Japan

    Jamaica Observer: The Jamaica Coffee Exporters Association is seeking to retain some US$10 million in exports of Blue Mountain coffee to the Japanese market for the 2020-21 crop year, similar to the value purchased last year. Read more

    Government Supports Export Efforts Of Local Businesses

    JIS: State Minister in the Ministry of Industry, Investment and Commerce (MIIC), Dr. the Hon. Norman Dunn, said the Government is committed to facilitating the export efforts of local businesses. Read more

    Transformational Changes Coming For Agriculture In The Region

    Jamaica Gleaner: As agriculture and food systems across Latin America and the Caribbean (LAC) try to recover from the impacts of the COVID-19 pandemic, policymakers must act to unleash the sector’s vast potential to drive sustainable and inclusive growth for decades to come, according to a new World Bank report. Read more

    BSI launches project to support sugar industry

    Amandala: On November 2, 2020, ASR/BSI officially launched the Belize Smart Sugarcane Cluster Project, a digital platform that will make information readily available to all the stakeholders in the sugarcane industry, and will especially help the 5,200 farmers who grow most of the cane that the Tower Hill factory converts to sugar for export and to supply local needs. Read more

    Vincentian appointed Director of Trade and Sustainable Development Association of Caribbean States

    Searchlight: Safiya Horne-Bique, a Vincentian national, assumed her duties as Director of Trade and Sustainable Development at the Secretariat of the Association of Caribbean States (ACS) on Monday November 2, 2020. Read more

    Europe’s appetite for Caribbean food highlights growing trend

    EU Reporter: The Caribbean food market is now worth almost £100 million. Sauces and condiments in particular are worth £1.12 billion and grew by 16.8% in the last year. Read more

    Western Union to suspend US transfers to Cuba

    Caribbean News Global: Western Union said on Friday it was suspending US money transfers to Cuba in 10 days due to the Trump administration’s latest sanction on the Communist-run island, in a blow to the many Cubans who rely on remittances from family abroad. Read more

    INTERNATIONAL

    RCEP: Asia-Pacific countries form world’s largest trading bloc

    BBC: Fifteen countries have formed the world’s largest trading bloc, covering nearly a third of the global economy. Read more

    What is RCEP and what does an Indo-Pacific free-trade deal offer China?

    SCMP: When leaders from 15 countries in the Indo-Pacific region meet for a virtual summit on Sunday, they are expected to sign a free-trade agreement that, measured by population and GDP, is one of the most ambitious ever struck. Read more

    Trudeau: UK’s lack of negotiating practice could delay Canada trade deal

    The Guardian: Canada could easily negotiate a post-Brexit trade deal with the UK, Justin Trudeau has said, but he warned that talks could be delayed because British negotiators are so out of practice. Read more

    Trudeau says he expects trade deal with U.K. can be done before 2021

    CBC: Prime Minister Justin Trudeau says he expects Canada can make a new trade deal with the U.K. before the calendar hit 2021. Read more

    Boeing WTO case: The EU puts in place countermeasures against U.S. exports

    EU: The European Commission’s regulation increasing tariffs on U.S. exports into the EU worth $4 billion will be published in the Official Journal of the EU. Read more

    EU-UK talks: ‘Make or break’ moment approaching, say both sides

    BBC: Trade talks between the UK and EU are reaching the “make or break” point, the two sides have said, with key differences proving hard to resolve. Read more

    EU unlikely to give UK more time to adjust after Brexit transition ends, Ireland’s FM tells Euronews

    Euronews: It is unlikely the European Union will grant the UK a grace period in January to help business adjust to the new post-Brexit trading regime, Ireland’s foreign affairs minister has told Euronews. Read more

    Trading partners seek post-Brexit clarity at WTO

    Reuters: Major trading partners called on Britain and the European Union (EU) on Friday to clarify terms for renegotiating tariff levels after Brexit and for compensating their suppliers for any lost market access, a Geneva trade official said. Read more

    In first for Fed, U.S. central bank says climate poses stability risks

    Reuters: “The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. Read more

    EU hits Amazon with antitrust charges. A huge fine could follow

    CNN: The European Union has unveiled formal antitrust charges against Amazon for abusing its dominance in online shopping and opened a second investigation into the company’s business practices. Read more

    Commission welcomes agreement on the modernisation of EU export controls

    EU: The European Commission welcomes the agreement reached today by the European Parliament and the Council on its proposal for a modernisation of EU export controls on sensitive dual-use goods and technologies. Read more

    Appointment of WTO chief in doubt after key meeting cancelled

    The Guardian: Nigeria’s Ngozi Okonjo-Iweala had been expected to be confirmed as leader on Monday. Read more

    5 ways the WTO can make investment easier and boost sustainable development

    World Economic Forum: As WTO delegates discuss what might be important measures to include, here are five provisions worth considering. Read more

    As WTO Talks Continue on Subsidy Reform Initiatives, Concerns Persist over Poor Notification Records

    IISD: The need to reform the World Trade Organization’s (WTO) agriculture subsidy rules and to clinch a deal that disciplines harmful fisheries subsidies are well known, and the latter agreement is now nearly within striking distance. Read more

    WTO Committee Discusses Ways to Facilitate FDI in Small Economies

    IISD: A meeting of the World Trade Organization (WTO) Committee on Trade and Development discussed foreign direct investment (FDI) and a joint communication on accelerating implementation of the WTO’s Trade Facilitation Agreement (TFA). Read more

    Minister for Agriculture: ‘Tariffs will apply under WTO rules in no-deal Brexit’

    Irish Examiner: The Minister for Agriculture, Food and the Marine, Charlie McConalogue, has confirmed that tariffs will apply to Irish goods going into the UK in the event of a no-deal Brexit scenario because of World Trade Organisation (WTO) rules. Read more

    How intra-African trade is progressing amid the pandemic

    BBC: Last year African countries signed an agreement aimed at increasing trade between them. If implemented successfully, they believe it could create a single African market of over a billion consumers. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade and Development News Digest – November 1-7, 2020

    Caribbean Trade and Development News Digest – November 1-7, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of November 1-7, 2020! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHT

    The WTO General Council this week postponed the meeting it had scheduled for 9 November to consider the appointment of the next WTO Director-General. Nigerian candidate Dr. Ngozi Okonjo-Iweala is the candidate for whom the WTO membership expressed support, but her selection was contested by the US. Read more here.

    Come January 20, 2021, the US will have its 46th president. US Democratic Party candidate, former Vice President under the Obama administration and Delaware Senator, Joe Biden, has been declared the President-elect, winning the US presidential election and defeating incumbent Republican president, Donald Trump. Biden’s VP pick, Senator Kamala Harris who is of Indian and Jamaican parentage, will be the female VP and the first person of colour to do so. Of particular interest to the Caribbean is that she is the first person of Caribbean heritage to rise to the office.

    On the other side of the Atlantic, ‘significant differences’ are making a post-Brexit UK-EU deal elusive, says UK PM Boris Johnson. Read more.

    Meanwhile, the UK and Kenya successfully concluded negotiations on a trade deal. Kenya would be the sixth African country with which the UK has secured a post-Brexit trading arrangement. Read more

    Regionally, Prime Minister of St. Vincent & the Grenadines, Dr. Ralph Gonsalves, was elected for an unprecedented 5th term of office. Read more

    REGIONAL NEWS

    Invest Barbados stands by its criticism of EU Blacklisting amid claims it misunderstood the issue

    Barbados Today: Invest Barbados has rubbished claims by a European Union (EU) official that there are “unfounded concerns” and misconceptions about the island’s inclusion on the EU’s list of “non-cooperative jurisdictions for tax purposes”. Read more

    Belize passes historic legislation banning gillnet fishing

    BBN: Тhіѕ wееk, thе Gоvеrnmеnt оf Веlіzе (GОВ) роѕіtіоnеd thе соuntrу аѕ а glоbаl lеаdеr іn ѕuѕtаіnаblе dеvеlорmеnt bу раѕѕіng lеgіѕlаtіоn tо bаn thе uѕе оf gіllnеtѕ, а dеѕtruсtіvе tуре оf fіѕhіng gеаr, frоm bеіng uѕеd іn Веlіzеаn wаtеrѕ. Read more

    CTO launches #TheCaribbeanAwaits campaign for Tourism Month

    LoopTT: The Caribbean Tourism Organization (CTO) has announced a social media campaign dubbed, #TheCaribbeanAwaits, in observance of Caribbean Tourism Month this month. Read more

    Panama and Guyana preparing to join Latin American hemp rush

    BBN: Аѕ аnnоunсеd bу Аttоrnеу Gеnеrаl аnd Міnіѕtеr оf Lеgаl Аffаіrѕ Аnіl Nаndlаll, Guуаnа’ѕ gоvеrnmеnt іѕ rеvіеwіng fеаѕіbіlіtу ѕtudіеѕ аnd hаѕ dіѕсuѕѕеd hеmр trіаlѕ. Іn Раnаmа, gоvеrnmеnt rерrеѕеntаtіvеѕ аnd dерutіеѕ іn thе Nаtіоnаl Аѕѕеmblу аgrееd tо fоrm а соmmіttее tо аnаlуzе hеmр’ѕ роtеntіаl fоr іnduѕtrіаl dеvеlорmеnt durіng dіѕсuѕѕіоnѕ аbоut а рrороѕеd hеmр lаw. Read more

    China and Jamaica extending bilateral trade agreements

    NYCaribNews: During a virtual meeting with China’s Ambassador to Jamaica, Tian Qi on Friday, October 30, Audley Shaw, Minister of Industry, Investment and Commerce, says he is committed to exploring the possibilities of pursuing greater cooperation with the Government of China. Read more

    Jamaica pushing to export pork, other items to China

    Jamaica Observer: The Jamaican Government is targeting the export of pork to China as the Andrew Holness Administration signals its intent to pursue greater cooperation with Beijing in areas of trade. Read more

    Jamaica, other C’bean countries to benefit from value chain intervention

    Jamaica Observer: Jamaica is benefiting from intervention aimed at strengthening the value chain for the production of indigenous black castor oil. Read more

    JSWIFT Project Being Implemented by JCA

    JIS: The Jamaica Single Window for Trade (JSWIFT) Project is at various stages of implementation by the Jamaica Customs Agency (JCA), which is spearheading the initiative’s rollout on behalf of the Government. Read more

    Challenges with CARICOM Bubble with COVID Says Dr. Ralph Gonsalves

    TV6: The chairman of CARICOM says, there is a major challenge with the CARICOM travel bubble allowing scheduled International and regional flights during the COVID-19 pandemic. Read more

    Mariano Browne: Refinery hard to restart

    Newsday: Former trade minister Mariano Browne has said many obstacles exist to a restart of the Pointe-a-Pierre refinery. Read more

    SheTrades Hub to support female entrepreneurs in Trinidad & Tobago

    LoopTT: Government has affirmed its commitment to providing opportunities to female entrepreneurs as part of driving the country’s COVID-19 economic recovery. SheTrades Hub, Trinidad and Tobago, was launched yesterday making this country the first in the Caribbean to officially launch one. Read more

    Saint Lucia, U.S. and Taiwan Deepen Investment and Entrepreneurship Partnerships

    US Embassy: In support of Saint Lucia Business Month, the U.S. and Taiwan embassies joined efforts to explore private investment and entrepreneurship opportunities with Saint Lucia. Read more

    INTERNATIONAL NEWS

    WTO Negotiating Group Hears Brazil’s Proposal on Fisheries Subsidies

    IISD: World Trade Organization (WTO) members continued discussions on addressing harmful fisheries subsidies throughout October. The 20 October meeting of the Negotiating Group on Rules heard a proposal from Brazil on percentage cuts to subsidies, and discussed the issue of proportionality in illegal, unreported, and unregulated (IUU) fishing violations. Read more

    WTO members greenlight EU sanctions against US over Boeing aid

    Euractiv: World Trade Organisation members gave the green light Monday (26 October) for Brussels to slap tariffs on $4.0 billion in US imports annually in retaliation for illegal American aid to plane maker Boeing. Read more

    Africa free trade agreement must be rolled out by January after pandemic delay – Secretariat

    News24: Wamkele Mene, Secretary General of the African Continental Free Trade Area Secretariat told delegates at the annual competition law, economics & policy conference on Wednesday that the Secretariat was at advances stages of concluding phase one of the agreement which deals with the trading of goods and services. Read more

    Rwanda-Ghana Relations to Spur Africa Trade Agenda

    AllAfrica: Rwanda and Ghana have resolved to boost bilateral relations with a broad, varied economic agenda at the core. This week, Foreign Affairs Minister Vincent Biruta was in Ghana to take part in a series of events that officials say will help to strengthen diplomatic and economic cooperation between the two countries. Read more

    Brexit: ‘Significant differences remain’ over trade deal

    BBC: Following a call with EU Commission President Ursula von der Leyen on Saturday, the PM said progress had been made but there were still issues around the “level playing field” and fishing. Read more

    Brexit talks remain deadlocked going into decisive week

    The Guardian: The Brexit negotiations remained stuck after a call between Boris Johnson and Ursula von der Leyen before a decisive week of talks. The European commission president and the prime minister both highlighted in their post-call statements the contentious issues of EU access to British waters and agreement on future rules to ensure fair competition. Read more

    Brazil to lead MERCOSUR talks; Deeper cooperation in defence, space, Ayurveda and agriculture, says India’s envoy to Brazil

    Financial Express: To further strengthen their ties, India and Brazil elevated their bilateral relations to a strategic partnership in 2006 and since then the relationship has witnessed an upward trend. President Jair Bolsonaro was the chief guest at the Republic Day this year. Read more

    Argentina wants EU to eliminate zero tariff access for Falklands’ exports

    Mercopress: Argentina held a meeting with the European Union ambassador and 21 of 27 EU members’ representatives in Buenos Aires and formally called for an end of the support for UK Falklands’ sovereignty recognition in the ongoing Brexit negotiations between Brussels and London. Read more

    US soybeans being loaded in Louisiana for Brazil

    Mercopress: A U.S. grain export terminal near Baton Rouge, Louisiana, is loading about 38,000 tons of U.S. soybeans on a bulk cargo vessel for shipment to Brazil, according to Southport Agencies shipping lineup. Read more

    China’s exports surged unexpectedly last month, as pace of import growth cooled off

    South China Morning Post: China’s exports grew by 11.4 per cent in October from a year earlier while imports grew by 4.7 per cent. Read more

    Branding rights on Basmati rice: Pakistan prepares response for European Commission

    The News: Pakistan has prepared a detailed response for submission before the European Commission on December 10, 2020 in order to foil the Indian attempts for obtaining branding rights on Basmati rice, Adviser to PM on Commerce Abdul Razak Dawood said on Friday. Read more

    UK and Kenya secure a trade agreement

    Gov.uk: The UK has moved a step closer to signing a sixth trade deal in Africa today (3 November), as negotiations on a trade deal are finalised with Kenya. The agreement will ensure all companies operating in Kenya, including British businesses, can continue to benefit from duty-free access as they export products including vegetables and flowers to their customers back in the UK. Read more

    UK-Australia trade deal ‘within months’

    The Canberra Times: The United Kingdom hopes to be able to reach a trade agreement with Australia within months, British trade minister Liz Truss says. Read more

    Irish businesses told not to wait for trade deal to prepare for Brexit

    Irish Times: Irish businesses that trade with the UK should not wait until a trade deal has been agreed between the UK and the EU to begin their preparations for Brexit, customs clearance service Declaron has warned. Read more

    RCEP summit on Nov. 15 to discuss trade deal by year-end, without India

    Nikkei: Asian-Pacific leaders representing the nations involved in the proposed Regional Comprehensive Economic Partnership will soon discuss reaching a long-awaited agreement by the end of the year, Nikkei learned Friday.

    Thailand ready to attend RCEP trade deal

    Bangkok Post: Thailand is ready to attend the signing of the long-awaited Regional Comprehensive Economic Partnership (RCEP) at the 37th Asean Summit under the chairmanship of Vietnam next week. Read more

    Is the Pacific’s new trade deal an early Xmas gift or a double edged sword?

    RNZ: The Australia and New Zealand led PACER Plus, is touted as a trade and development agreement that will strengthen economic development in the region. Nine Pacific countries have signed on to the deal with six having ratified it so far. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade and Development News Digest – October 25 – October 31, 2020

    Caribbean Trade and Development News Digest – October 25 – October 31, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of October 25-31, 2020! For October, we are going pink for Breast Cancer Awareness Month! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The big news this week was that although WTO members indicated a strong preference for candidate from Nigeria, Dr. Ngozi Okonjo-Iweala, to lead the WTO, the US blocked Dr. Okonjo-Iweala’s selection who is also ironically a naturalised US citizen. The USTR’s statement objecting to Dr. Okonjo-Iweala’s appointment, while confirming support for candidate South Korea Trade Minister Yoo Myung Hee, can be viewed here. Therefore, as this Bloomberg report notes, the WTO DG race’s fate now depends on the outcome of Tuesday’s US presidential election.

    The 41st Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) was held virtually on 29 October 2020. The items discussed included COVID-19’s impact on the region, a Caribbean Economic Recovery and Transformation (CERT) Plan, EU blacklisting, a regional tourism policy, inter alia. Read the full communique here.

    Happening this week: Americans officially go to the polls to vote for their next president. A record over 90 million Americans and counting have already cast their ballot in early voting or by mail-in ballot. Read my article on why this election cycle is particularly important for the Caribbean here.

    Regionally, St Vincent and the Grenadines will be holding their elections this week on November 5. On October 31, St. Kitts & Nevis becomes the latest and one of the last Caribbean countries to re-open its borders. Read more here.

    Last week I also had the pleasure and honour of being a panelist at the Barbados International Business Association (BIBA) Global Business Week Conference on the panel entitled “New Opportunities for trade to and from Barbados“. Thank you to the organizers, excellent moderator and awesome fellow panelists for what was a very stimulating session.

    REGIONAL NEWS

    UN SG Calls For A Vulnerability Index For CARICOM

    News Americas Now: Secretary General of the United Nations, António Guterres, is calling for a multidimensional vulnerability index that will help CARICOM countries. Read more

    Cuba Says US Sanctions Have Caused Nearly $5.6B In Losses

    Jamaica Gleaner: Cuba said Thursday that the island has lost nearly $5.6 billion in one year as a result of economic sanctions imposed by US President Donald Trump. Read more

    High interest in intra-regional travel

    Barbados Advocate: Persons eager to visit countries within’ the bubble’, says travel advisor. Country Manager of Going Places Travel Barbados, Alana Gray, says there have been many enquiries for travel within the travel bubble. Read more

    Multilateral financial institutions have failed Caribbean countries: Robinson

    Barbados Advocate: University of the West Indies (The UWI) economist, Dr. Justin Robinson, has lashed out at the multilateral financial institutions, saying that they had failed small countries just when they require financing to get out of their present predicament. Read more

    First ship to arrive at Bridgetown Port on Sunday

    Barbados Today: Barbados will this weekend welcome its first cruise passengers since the global suspension of cruise in March this year. Read more

    Barbados International Business Sector showing resilience

    Barbados Advocate: The International Business and Financial Services sector, despite the current COVID-19 pandemic, is demonstrating its resilience by performing reasonably well under the current circumstances. Read more

    Jamaica earns US$250M from Tourism for June to September period

    Jamaica Star: Minister of Tourism, Edmund Bartlett has disclosed that Jamaica has earned just over US$250 million since the island’s borders reopened in June. Read more

    Guyana sets new oil discovery record – now the largest new conventional liquids play in the last decade

    Kaieteur News: The Yellowtail-2 and Redtail discoveries which were made in July and September respectively have pushed Guyana’s recoverable estimate to approximately nine billion oil equivalent resources. In light of this development, Guyana is now the largest new conventional liquids play in the last decade says Senior Vice President at ExxonMobil, Jack Williams. Read more

    Guyana Gov’t negotiating with CARICOM on better export market access for farmers

    Stabroek: In a bid to assist local farmers access regional export markets, the Guy-ana government is in discussions with the Carib-bean Community (CARICOM) in hopes of securing the relaxation or removal altogether of what it sees as some rigid non-tariff measures on local food produce, Minister of Agriculture Zulfikar Mustapha has said. Read more

    ‘CARICOM Bubble’ statistics being monitored to evaluate COVID-19 cases

    St Kitts & Nevis: St. Kitts and Nevis has the intends to participate in the Caribbean Community (CARICOM) Bubble and has been monitoring what is happening in the eight participating territories, says Chief Medical Officer Dr. Hazel Laws, speaking at the National Emergency Operation Centre (NEOC)/Border Reopening Press Briefing on October 28. Read more

    CARICOM divided on Venezuela at OAS assembly

    NY Carib News: Caribbean Community (CARICOM) countries were divided on the issue of “free and fair” elections in Venezuela, with The Bahamas, Haiti, Jamaica, and St Lucia all voting in favor of the resolution tabled at the 50th General assembly of the Organisation of American States (OAS) that ended here on Wednesday. Read more

    CARICOM establishes regional Food Security Task Force

    Loop Barbados: The Caribbean Community (CARICOM) has sought to address the region’s concerns about food security through the establishment of a Food Security Task Force. Read more

    Trinidad & Tobago Govt pushing female entrepreneurs

    Trinidad & Tobago Express: Trinidad & Tobago is the first country in the Caribbean to officially launch SheTrades, an initiative of the International Trade Centre (ITC), which is now part of a community of over 25 countries working towards connecting over three million women entrepreneurs to global markets by 2021. Read more

    Western Union to close in Cuba following new US sanctions

    Jamaica Observer: US-based money transfer company Western Union will close its offices in Cuba following new sanctions from Washington which prevent it from working with Fincimex, a financial company run by the island’s military, Havana said yesterday. Read more

    RUBiS enters petrochemical export market

    Jamaica Observer: RUBiS Energy Jamaica Limited recently dispatched the island’s first export shipment of petrochemicals — a move which sees the country becoming the first in the region to undertake such a venture due to its terminal and storage infrastructure. Read more

    Caribbean Export and WIRSPA partner on the Absolutely Caribbean Virtual Expo

    EU Reporter: Caribbean Export Development Agency (Caribbean Export) and the West Indies Rum & Spirits Producers Association (WIRSPA) are working together to support increased trade of rum and spirits between the Caribbean and Europe with the Absolutely Caribbean Virtual Expo, scheduled for 17-18 November. Read more

    ACS States with new Secretary-General

    Prensa Latina: Panamanian Rodolfo Sabonge began his four-year term of office as Secretary-General of the Association of Caribbean States (ACS) ‘under circumstances we never thought we would meet. Read more

    TT second largest regional supplier of medical products

    Newsday: A UNITED Nations (UN) country database shows that TT was the second largest supplier of medical products to other countries in the region after export restrictions from major suppliers created issues accessing critical medial supplies throughout the region. Read more

    Adjustments needed to the way we negotiate partnerships, says Marshall

    Barbados Today: One senior economist is calling for a review of how Barbados and other Caribbean states negotiate trade agreements with more developed nations. Dr Don Marshall, Director and Senior Research Fellow at the Sir Arthur Lewis Institute for Social and Economic Studies (SALISES), said the time had come for small island developing states to raise issues relating to their vulnerabilities and other developmental concerns when discussing partnerships. Read more

    INTERNATIONAL NEWS

    CBI chief fires parting shot over slow pace of Brexit negotiations

    BBC: Carolyn Fairbairn says the UK economy is in ‘suspended animation’ while issue remain unresolved. Read more

    Brexit talks making good progress, says Ursula Von der Leyen

    The Guardian: European commission president says key issues are level playing field and fisheries. Read more

    Brexit deal hangs in the balance, says EU council president

    The Guardian: Outcome of next two weeks of talks crucial but uncertain, says Charles Michel. Read more

    Chatham House speech: Liz Truss sets out vision for values-driven free trade

    Gov.uk: International Trade Secretary Liz Truss delivers the keynote speech at Chatham House’s ‘Global Trade Live’ event setting out her vision for UK trade policy. Read more

    Liz Truss: NHS ‘off the table’ in Brexit talks with US

    City AM: International trade secretary Liz Truss has insisted the NHS remains “off the table” in post-Brexit trade talks with the US, as the government scrambles to shore up relations with presidential hopeful Joe Biden ahead of next week’s election. Read more

    Trump’s phase one trade deal with China and the US election

    PIIE: President Donald Trump has staked a claim to success in his trade war with China on his phase one trade agreement of January 2020. In his self-proclaimed “historic” deal, China committed to purchasing an additional $200 billion of American-made goods and services over 2020 and 2021. Trump has even boasted that the deal “could be closer to $300 billion when it finishes.” Read more

    US moves closer to expanding tech export controls list as competition with China for future technology builds

    South China Morning Post: Commerce Department moves closer in seeking industry input to identify, define and set criteria for technology that will be subject to export controls. Read more

    Thailand expresses full support for WTO reforms

    The Guardian: Thailand has voiced full support for the World Trade Organization’s (WTO) reforms to make the intergovernmental body aware of trade situations and that would enable it to accelerate the global economic recovery following the pandemic. Read more

    A Biden Win Could Renew a Democratic Split on Trade

    NY Times: Democrats have been unified by their desire to oust President Trump. But if that happens, deep divisions on the issue of trade are likely to reappear. Read more

    China has a golden opportunity to show global leadership, with a WTO fisheries deal

    South China Morning Post: China is a fishing superpower. If Beijing is truly committed to a rules-based multilateral trading system, it must show leadership in securing a meaningful WTO agreement to tackle global fishing subsidies and curb overfishing. Read more

    EU strengthens trade enforcement arsenal with revamped regulation

    EU: Today, the European Commission, the European Parliament and the Council reached a political agreement on reinforcing the EU’s Enforcement Regulation. As part of the agreement, the Commission committed to developing the EU’s anti-coercion mechanism swiftly. Read more

    Trump Trade Policy Gets Failing Grades

    Forbes: Donald Trump may believe his trade agenda is a success, but a new analysis gives his administration’s trade policies poor marks. The analysis finds the Trump administration’s policy of raising tariffs and misusing U.S. trade laws have harmed consumers, disrupted supply chains and failed to achieve objectives that are important to the United States. Read more

    Biden Or Trump, Next 4 Years For Canada-U.S. Trade Will Be ‘Bumpy’

    Huffpost: Protectionism is rearing its head again in the United States, leaving the Trudeau minority government to figure out ways to work with an unpredictable neighbour. Read more

    Canadian Ambassador to U.S. says there is no justification to change border restrictions

    CTV: Canada’s Ambassador to the United States Kirsten Hillman said there is no justification to ease the Canada-U.S. land border restrictions any time soon. Speaking to CTV’s Power Play on Friday, Hillman stressed that either country is not prepared to loosen border restrictions before 2021. Read more

    What would a Joe Biden presidency mean for a UK-US post-Brexit trade deal?

    iTV: With the US presidential election days away, focus is shifting to what priorities the winner will have during their four years in power at the White House. Read more

    Cruz, Cornyn Complain to Trump That Mexico Is Undermining USMCA

    Bloomberg: US senators Cruz and Cornyn sent a letter to President Trump arguing that Mexico’s energy policy undermines the spirit of the USMCA trade agreement. Read more

    African trade finance banks urge MDBs to take on greater levels of risk

    Global Trade Review: Trade finance executives across Africa are urging multilateral development banks (MDBs) to “intervene decisively” and boost credit support to banks on the continent as a potential insolvency crisis looms. Read more

    S. Korea, Mongolia to lower tariffs starting 2021 under regional trade pact

    Korea Times: South Korea and Mongolia will lower tariffs on some products starting next year, as Ulaanbaatar joined a regional trade pact known as the Asia-Pacific Trade Agreement (APTA), Seoul’s finance ministry said Friday. Read more

    China-Mongolia trade to benefit from Mongolia’s APTA membership

    Xinhua: China and Mongolia are expecting lower tariffs in bilateral trade after Mongolia’s recent accession to the Asia-Pacific Trade Agreement (APTA), China’s Ministry of Commerce said Monday. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

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

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

    Welcome to the Caribbean Trade & Development News Digest for the week of October 4-10, 2020! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

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

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

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

    REGIONAL NEWS

    Trinidad & Tobago Govt, Caricom to help service sector

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

    Trade survey assesses exports services sector

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

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

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

    Accelerating trade between Jamaica and China now possible

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

    Caribbean Trade Legislation Passes U.S. Senate

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

    Standards for nutrition labels coming

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

    Standards and quality still important

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

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

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

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

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

    JAMPRO Seeks Greater Support for Export Max

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

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

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

    UK appoints new trade envoy to the Caribbean

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

    Building Post COVID CARICOM Food Security – A Cassava Industry

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

    INTERNATIONAL NEWS

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

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

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

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

    Brexit: Trade negotiators meet, as deadline looms

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

    UK statement to the WTO Committee on Government Procurement

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

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

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

    Brexit: EU and UK in choppy waters over fishing rights

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

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

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

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

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

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

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

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

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

    Turkey-US trade volume improves despite COVID-19 pandemic

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

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below: