Caribbean Trade Law and Development

Tag: caribbean trade and development digest

  • Caribbean Trade and Development News Digest – September 13-19, 2020

    Caribbean Trade and Development News Digest – September 13-19, 2020

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

    And then there were five! The race for who will be the next Director-General of the World Trade Organization (WTO) has narrowed from eight candidates to five: Amina Mohamed (Kenya), Ngozi Okonjo-Iweala (Nigeria), Mohammad Maziad Al-Tuwaijri (Saudi Arabia), Yoo Myung-hee (South Korea), and Liam Fox (The United Kingdom).Read more here.

    A WTO dispute settlement panel found that additional tariffs imposed in 2018 by the US on Chinese goods contravened the US’ obligations under international trading rules. Read the panel report here. The WTO’s latest Services Barometer shows “modest gains in some key sectors, suggesting a degree of resilience in the face of the pandemic”. Read more here.

    Regionally, US Secretary of State Michael Pompeo made a state visit to Guyana this week where he also met with the Secretary-General of the Caribbean Community (CARICOM), H.E. Irwin LaRocque. The renewal of the Caribbean Basin Trade Partnership Act (CBTPA), due to expire at the end of this month, was among the topics discussed during the meeting. Read more here.

    REGIONAL NEWS

    Pompeo asks Suriname, Guyana to favour US business over China

    Al Jazeera: Pompeo becomes the first US secretary of state to visit the two South American states where oil was recently discovered. Read more

    CARICOM SG raises economic fallout from pandemic with Pompeo

    Stabroek: The severe economic fallout from the COVID-19 pandemic on CARICOM countries was one of the issues raised yesterday by Secretary-General Irwin LaRocque with visiting US Secretary of State, Mike Pompeo. Read more

    OECS Foreign Ministers Discussed Blacklisting Of Tax Havens By European Union

    St Kitts Nevis Observer: The meeting addressed issues of critical concern to the Organization and its Member States including key developments in the international arena; the ongoing negotiations between the Organization of African, Caribbean and Pacific States (OACPs) and the European Union (EU) on a new Agreement post-Cotonou; blacklisting of States as “non-cooperative tax jurisdictions” by the European Union, BREXIT and its implications for Cariforum/UK Trade and Economic Relations; and strategic joint diplomatic and commercial engagement in specified jurisdictions. Read more

    Caribbean countries record 50 per cent decline in visitor arrivals in first six months of 2020

    Jamaica Observer: Caribbean countries have recorded a 50 per cent decline in tourist arrivals up to the month of June this year, a senior official of the Caribbean Tourism Organisation (CTO) said earlier this week. Read more

    Barbados to establish diaspora unit and four new embassies

    BGIS: The Diaspora Unit, according to Dame Sandra, will be a platform for advancing Barbados’ economic interests abroad through the Barbadian diaspora and Friends of Barbados communities, which were described as under-used assets with regard to their networks, skills and resources. Read more

    Why Congress Needs to Renew Caribbean, GSP Trade Programs Now

    US Chamber: Washington is no stranger to “must pass” legislation, and the end of the fiscal year on September 30 and the recent lapse in several pandemic response measures rightly command congressional attention. But lawmakers should not overlook the need to renew two soon-to-lapse trade programs that support American jobs: The Caribbean Basin Trade Partnership Act (CBTPA) and the Generalized System of Preferences (GSP). Read more

    Jose Mai: Time to put agriculture first in Belize

    Breaking Belize News: Веlіzе ѕhоuld lооk tо Мехісо fоr а раrtіаl ѕсоре аgrееmеnt оn ехроrt, аnd tаkе аdvаntаgе оf оur раrtnеrѕ tо rеbuіld аgrісulturе thrоugh аn ехраndеd рrоgrаm іn ѕсhооlѕ. Read more

    Gov’t Pledges To Put Brakes On JSWIFT Hiccups

    Jamaica Gleaner: The Ministry of Industry, Investment and Commerce, in responding to a Gleaner article about the Jamaica Single Window for Trade (JSWIFT) published on Tuesday, said the portal will soon become much swifter. Read more

    Cuba shuts down interprovincial transportation due to new COVID-19 fears

    Reuters: Cuban state media reported on Saturday interprovincial transportation would be shut down and a curfew in Havana extended until the end of the month as a surge in COVID-19 cases in the capital spreads to other areas. Read more

    INTERNATIONAL NEWS

    Brexit: NI told to start work on checkpoints at sea ports

    BBC: A letter from the UK government to Stormont’s Agriculture Department instructs it to start work on check-points at NI’s sea ports without delay. The letter, seen by BBC News NI, says it is critical checks are in place, stating such moves are in accordance with the Northern Ireland protocol. Read more

    Biden or Trump, no guarantee of a post-Brexit U.S.-UK trade deal

    Reuters: U.S. presidential candidate Joe Biden’s recent warning that Britain must honor Northern Ireland’s 1998 peace agreement to secure a U.S. trade deal adds new complexity to already tough trade talks between the United States and the U.K. Read more

    Tariff showdown with Trump a shallow victory for Canada

    Niagara Falls Review: Donald Trump’s decision to cancel tariffs on Canadian aluminum imports is a short-term win for Ottawa. In the long run, however, it is anything but. Read more

    A brewing U.S.-China tech cold war rattles the semiconductor industry

    CNBC: As trade tensions mount between the U.S. and China, the U.S. semiconductor industry fears a tech cold war could disrupt the global supply chain. Now companies on both sides of the Pacific are trying to develop strategies to mitigate risk — whether it’s hoarding supplies or looking at shifting the location of production facilities. Read more

    How Will the Coronavirus Pandemic Permanently Change the Travel Trade?

    TravelPulse: As with all monumental global events, the coronavirus pandemic will create permanent change throughout the world, including the travel advisor community. Read more

    U.S. calls off tariffs on Canadian aluminum — for now

    CBC (Canada): The United States hit the pause button on tariffs on Canadian aluminum today, agreeing to withdraw current penalties — at least until after the presidential election in November. Read more

    US companies seeking tariff relief faced red tape, delays

    AP: Companies seeking relief from President Donald Trump’s taxes on imported steel and aluminum ran into long delays and cumbersome paperwork, a federal watchdog found. Read more

    Global service trade decline shows signs of bottoming out – WTO

    Reuters: A contraction in global trade in services caused by the COVID-19 pandemic is showing signs of bottoming out, the World Trade Organization said on Thursday as its trade barometer index fell to a record low. Read more

    Top UN economists warn of crises of our own making if global ‘megatrends’ left unchecked

    UNCTAD: Five human‑made “megatrends” will continue to dominate and frustrate global efforts to put the world on a more sustainable and prosperous path, unless urgent policy interventions to influence them are taken now, the UN Economist Network warned today in a new report. Read more

    Nigeria working to attract more foreign direct investments to prepare for AfCFTA – Trade Minister

    Nairametrics: Nigeria’s Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said that Nigeria is actively working to attract more foreign direct investments into key industries to meet the demands of the African Continental Free Trade Area (AfCFTA). Read more

    Zimbabwe: Rules of Origin Key to Success of AfCFTA

    AllAfrica: The protocol of trade in goods is comprised of 32 articles and nine annexes in the Africa Continent Free Trade Agreement (AfCFTA). Annex 2 of the protocol of trade in goods focuses on rules of origins and is complemented by various appendixes. Read more

    Ghanaian businesses need support to ‘win’ under AfCFTA – AGI

    Ghanaweb: Business setbacks such as high cost of power, access to capital, among others, remain a concern for Ghanaian industries, and if the government wants to “win” with the African Continental Free Trade Area (AfCFTA), it needs to ensure businesses are supported to become competitive, the Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Cleanse Akpeloo, has said. Read more

    Mauritania Finalizes AfCFTA Implementation Strategy

    AllAfrica: The Ministry of Trade, Industry and Tourism of the Islamic Republic of Mauritania and the ECA Office in North Africa will hold today in Nouakchott (Mauritania) a workshop to validate the national strategy for the implementation of the African Continental Free Trade Area (AfCFTA). Read more

    Ukraine, Turkey restart free trade agreement talks

    MENAFM: Ukraine and Turkey have restarted the negotiation process on signing a free trade agreement. Read more

    Most Canadians don’t understand trade deals, but support free trade: report

    iPolitics: Survey findings released by the federal government suggest Canadians have little understanding of their country’s international trade agreements, including the recently negotiated United States-Mexico-Canada Agreement (USMCA). Read more

    Do the WTO and the 1972 Free Trade Agreement guarantee Swiss access to the EU market?

    Swissinfo.ch: The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading. Read more

    India engaging with ASEAN to review FTA: Piyush Goyal

    Financial Express: In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Read more

    France says opposes EU-Mercosur trade deal over deforestation concerns

    Buenos Aires Times: France opposed to free-trade deal in its current form due to “major” concerns about deforestation in the region, the government said on Friday. 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 – August 30 – September 5, 2020

    Caribbean Trade and Development News Digest – August 30 – September 5, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of August 30-September 5, 2020! We are back from our vacation hiatus and happy to once again bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    So what has happened while we were on break? The term of World Trade Organization (WTO) Director General (DG) Robert Azevedo ended on August 31, 2020 following his announcement in May that he would be stepping down from the post a year early.

    The race for his successor is heating up and each of the candidates is making the rounds trying to make the case for why he or she is the best candidate to head the beleaguered WTO.

    The US and EU came to an agreement in which the EU will eliminate tariffs on imports of U.S. live and frozen lobster products and the US will reduce by 50% its tariff rates on certain products exported by the EU worth an average annual trade value of $160 million. Read the full joint statement here.

    The WTO has issued a call for papers for its new WTO Trade Economist Thematic Award. Trade experts at universities in developing countries are invited to submit case studies on the impact of the COVID-19 pandemic on trade and trade policy. The deadline is September 30, 2020. Read more here.

    This week, the US House Ways and Means Committee will hold a remote hearing to consider the renewal of the Caribbean Basin Trade Partnership Act (CBTPA).

    REGIONAL

    AAFA, trade bodies urge USTR to support CBTPA renewal

    Fibre2Fashion: The American Apparel & Footwear Association (AAFA) along with a dozen other trade bodies recently urged US trade representative Robert E Lighthizer to support Congress to renew the Caribbean Basin Trade Partnership Act (CBTPA) as soon as possible. The act, which celebrated its 20th anniversary on May 18 this year, is set to expire on September 30. Read more

    UNCTAD 15 to benefit Barbados

    Barbados Today: Barbadians are set to reap benefits from the upcoming United Nations Conference on Trade and Development (UNCTAD) 15 scheduled to take place next April. Read more

    Barbados to open embassy in Ghana

    Nation News: Minister of Health and Wellness, Lt Col Jeffrey Bostic, announced on Monday that Barbados has established an embassy in Ghana and the opening is scheduled for October. Read more

    Important Issues for CARICOM SIDS Highlighted at Ministerial Round Table

    Barbados Today: His Excellency Simon Stiell of Grenada has shared a number of important issues for CARICOM Small Island Developing States (SIDS) to be addressed as COP26 approached. The issues were shared with the Incoming COP President and his team at a Ministerial Roundtable between CARICOM Ministers and the Incoming President of the 26th United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP 26), on Thursday 27th August 2020. Twelve CARICOM Ministers attended the meeting. Read more

    Development Bank of Jamaica to assist medium-sized companies through innovation grant fund

    Jamaica Observer: The Development Bank of Jamaica (DBJ) has embarked on the implementation of a new product, the Innovation Grant Fund, to provide financial support for medium-sized companies looking to introduce or expand innovative processes, products, and/or services. Read more

    Belize to export another 241 head of cattle to Mexico

    Вrеаkіng Веlіzе Nеwѕ: ВВN hаѕ соnfіrmеd thаt ѕоmе 241 hеаd оf саttlе hаvе bееn lоаdеd іntо thrее truсkѕ іn thе vіllаgе оf Вluе Сrееk, Оrаngе Wаlk Dіѕtrісt, аnd аrе оn thеіr wау fоr ехроrt tо Мехісо. Read more

    BelizeINVEST is calling all invest service providers to join its new network

    Breaking Belize News: ВеlіzеІNVЕЅТ, а unіt оf thе Веlіzе Тrаdе аnd Іnvеѕtmеnt Dеvеlорmеnt Ѕеrvісе (ВЕLТRАІDЕ), іѕ саllіng оn іnvеѕtmеnt ѕеrvісе рrоvіdеrѕ асrоѕѕ Веlіzе tо јоіn ВЕLТRАІDЕ’ѕ Іnvеѕtmеnt Ѕеrvісеѕ Nеtwоrk (ВІЅN). Read more

    INTERNATIONAL

    Brexit: PM sets 15 October deadline for EU trade deal

    BBC: Prime Minister Boris Johnson is expected to say that if no agreement on trade between the EU and UK can be reached by 15 October both sides should “accept that and move on”. Read more

    UK Government announces new Board of Trade

    Gov.uk: The Department for International Trade has today (Friday 4 September) announced its new advisers to the Board of Trade, comprising of senior figures from business, academia and government. Read more

    Tony Abbott: Ex-Australian PM appointed UK trade adviser

    BBC: Former Australian Prime Minister Tony Abbott has been appointed as an unpaid trade adviser to the UK government. Boris Johnson rejected claims Mr Abbott was not suitable for the role, despite criticism over past comments on women, LGBT people and climate change. Read more

    Brexit: This week is ‘moment of reckoning’ for UK-EU trade deal with two sticking points remaining – Raab

    Sky News: David Frost, who will lead the UK’s post-Brexit trade talks, will meet EU chief negotiator Michel Barnier in London next week. Read more

    United Kingdom to quit Brexit trade-deal talks if no agreement with European Union by October 15

    ABC (Australia): British Prime Minister Boris Johnson has warned Britain could walk away from post-Brexit trade talks with the European Union within weeks ahead of the next crucial round of discussions. Read more

    US trade deficit soars to 12-year high

    The Hill: The trade deficit in July spiked 18.9 percent to $63.6 billion, the highest since July 2008 during the Great Recession, according to Commerce Department data released Thursday. Read more

    As WTO Members Prepare to Name a New Chief, We Must Remember the Lessons of Years Past

    IISD: It has now been seven years since the World Trade Organization (WTO) saw its top leadership position change hands and, as expected, who will be the next head of the Geneva-based institution has become the talk of the trade community. Read more

    As Roberto Azevêdo Jumps Ship from WTO to Pepsi, What Legacy Does he Leave Behind?

    The Wire: Azevedo has claimed success on issues like a Trade Facilitation Agreement aimed to cut through delays in trade. But on his watch, the WTO also failed to conclude the Doha Development Agenda. Read more

    WTO Outlines Relationships between Cross-border Mobility, COVID-19, and Global Trade

    IISD: The World Trade Organization (WTO) has issued an information note that articulates how temporary border closures and travel restrictions associated with the COVID-19 pandemic have affected goods and services trade. Read more

    Lacalle Pou says EU-Mercosur deal ‘advances’ but not at ‘expected speed’

    Buenos Aires Times: Uruguayan leader’s comments just the latest in a series indicating that momentum for the accord has slowed. Read more

    Low-Key EU Player’s New Job May Help Sell Mercosur Deal

    Bloomberg: A month before he resigned as European Union trade commissioner over an Irish coronavirus controversy, Phil Hogan made a much less publicized job announcement: appointing the first person to police the bloc’s slew of commercial agreements with the rest of the world. Read more

    Brazil/Argentina spat over non automatic import licenses delaying Mercosur bilateral trade

    Mercopress: Brazil expressed its disenchantment with the Argentine policy of delaying the approval of the so-called nonautomatic import licenses which has seen millions of dollars in sales held at the border. This situation has been increasing in recent months, in what is considered a breach of bilateral accords in the framework of Mercosur agreements, and the World Trade Organization, WTO, rules. Read more

    Top envoy says US preparing tighter oil sanctions on Venezuela

    Al Jazeera: US President Trump has ramped up sanctions on Venezuela’s state-run PDVSA, its key foreign partners and its customers. Read more

    Taiwan and US move closer to Bilateral Trade Agreement

    Nikkei Asian Review: Taiwan President Tsai Ing-wen addressed one of the primary irritants in the U.S.-Taiwan trade relationship last week by relaxing regulations on pork imports containing the steroid ractopamine. Read more

    Japan and Britain delay agreement on post-Brexit trade pact

    Japan Times: The Japanese and British governments stopped short of reaching a broad accord on a new bilateral trade deal on Friday, citing the need for further negotiations on how to handle Japanese tariffs on British blue cheese. Read more

    Africa: Duty-Free Imports Sought by U.S. Apparel Makers Would Vitiate Africa Trade – Agoa Coalition Warns Congress

    AllAfrica: The following letter was sent by the Agoa Action Coalition to the chairman of the U.S. House Ways and Means Subcommittee on Trade Earl Blumenauer (Democrat-Oregon), as well as the chairman of the full committee, Richard Neal (Democrat-Massachusetts) and ranking Committee member Kevin Brady (Republican-Texas), and ranking Trade Subcommittee member Vern Buchanan (Republican-Florida). Read more

    Africa Trade Pact’s Architects Seek to Help Offset Tariff Losses

    Bloomberg: Architects of an Africa-wide free-trade area are in talks with the African Export-Import Bank to set up an adjustment facility to offset revenue losses for countries that lower cross-border tariffs, according to the zone’s most senior official. Read more

    Turkey’s push to win over the Maghreb: The gateway to Africa

    The Africa Report: For several years, the Turks have been working to strengthen their ties with Algiers, Tunis and Rabat. This strategy is all the more crucial since Recep Tayyip Erdogan has engaged his country on several fronts in the region. Read more

    Covid-19 hits East African agri value chains

    African Business: As the African Green Revolution Forum (AGRF) kicks off on September 8, agriculture and food security will take the spotlight. While agriculture provides food and income security to more than half of the population in developing countries, the opportunities are mostly low paying with poor working conditions. Read more

    Pacific island countries band together to increase export quality

    EIF: Trade ministers in the Pacific approve the region’s first strategic framework on Quality Infrastructure. Read more

    India’s  virus  woes hit imports more than its exports

    Livemint: Between Apr and Jul, the goods imports have fallen by 46.7% to $88.9 bn. In comparison, goods exports during the same period have fallen at a much slower pace of 30.3% to $74.9 bn. Why have exports fallen at a much slower pace than imports? Mint takes a look. Read more

    India-Bangladesh trade halts after exporters allege corruption

    The Telegraph: Disruption in the trans-border trade for 2 consecutive days has resulted in a loss of nearly Rs 20 crore. 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 – July 27 – August 2, 2020

    Caribbean Trade and Development News Digest – July 27 – August 2, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 27-August 2, 2020! 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.

    PROF. THE RIGHT HON OWEN S. ARTHUR, FORMER PM OF BARBADOS

    I wish to start on a personal note and express condolences to the family of former Barbados Prime Minister, Prof. The Rt. Hon. Owen S. Arthur, who passed away last week. Barbados, the Caribbean and the world have lost a great statesman, economist, a committed regionalist and visionary. This Blog has lost one of its most avid readers. Though I only knew Prof. Arthur in person for a short time, I will forever remember and cherish our conversations on trade, the economy and global affairs and the unselfish way in which he so freely shared his knowledge and experiences. You can have a read of my full tribute to Prof. Arthur here.

    Among the developments in trade this week, the WTO’s General Council agreed on the guidelines for the final stage of the selection process for the next WTO Director-General. Read here. Meanwhile, Members failed to agree on an Interim WTO DG. Read the full scoop from Bloomberg here.

    On the regional front, a winner has finally been declared in the months-long Guyana elections saga. His Excellency Irfaan Ali has been declared president. Read the full statement by the Caribbean Community (CARICOM) here.

    The CTLD Blog will be on vacation hiatus for the month of August but we look forward to returning in September!

    REGIONAL NEWS

    Bahamas Bids To Secure $9m In Uk Exports Trade

    Tribune242: The government yesterday said it was aiming to secure almost $9m worth of annual Bahamian exports to the United Kingdom (UK) by ratifying a trade deal before year end. Read more

    Trade talks begin on economic partnership agreement with the UK

    EyeWitness News: The government met with the British High Commission in Nassau this week to discuss increasing trade between the UK and The Bahamas, primarily through the domestic ratification of the CARIFORUM-UK Economic Partnership Agreement (EPA) signed in London last year. Read more

    Ice cream brand started in T&T expands across Canada

    LoopTT: An ice cream brand that was started in Trinidad and Tobago in the 1940s is now giving Canadians a taste of the Caribbean with its tropical flavours. Read more

    Belize Imports way down, exports way up in June 2020 – SIB

    Amandala: The report of the Statistical Institute of Belize (SIB) on external trade for June 2020 shows that in June 2020 we imported 38.4% less goods and exported 41.1% more goods, than we did in June 2019. Read more

    Belize government launches Micro, Small and Medium Enterprise program

    Breaking Belize News: Тhе Gоvеrnmеnt оf Веlіzе, thrоugh а соllаbоrаtіvе еffоrt lеd bу thе Міnіѕtrу оf Іnvеѕtmеnt, Тrаdе аnd Соmmеrсе, thе Міnіѕtrу оf Lаbоur, Lосаl Gоvеrnmеnt аnd Rurаl Dеvеlорmеnt, аnd ВЕLТRАІDЕ аnnоunсеd thе lаunсh оf рhаѕе twо оf Gоvеrnmеnt’ѕ СОVІD-19 Unеmрlоуmеnt Rеlіеf Рrоgrаm, іnсоrроrаtіng thе рrеvіоuѕlу аnnоunсеd Місrо, Ѕmаll аnd Меdіum Еntеrрrіѕе Ѕuрроrt Рrоgrаm. Read more

    Online Application Software Making It Easier To Do Business At Ports

    JIS: A new online application software is making it easier for truckers and others using the Kingston ports to do business.The Truck Appointment System (TAS) has been implemented to manage the flow of cargo and trucking companies doing business at the two terminals, the Kingston Freeport Terminal Limited and Kingston Wharves Limited. Read more

    Jamaica’s import spend declines, export also down for January to April 2020

    Jamaica Observer: Jamaica’s imports for January to April 2020 were valued at US$1,680.6 million, a 23.1 per cent decline when compared to the US$2,186.7 million spent for the same period in 2019. Read more

    EXIM Bank, Jampro Form Export Club

    Jamaica Gleaner: Jamaica’s export-import bank is lending support to the export initiative out of investment promotion agency Jampro, which helps entrepreneurs with market access. Read more

    Exim Bank commits more than $5 million to Export Max III

    LoopJamaica: The National Export-Import Bank of Jamaica (Exim Bank) has officially committed sponsorship valued at more than $5 million to the Jampro, JBDC, and JMEA export development programme, Export Max III. Read more

    INTERNATIONAL NEWS

    Exclusive: WTO unlikely to get interim leader as U.S. insists on its candidate, causes impasse

    Reuters: The World Trade Organization will likely not appoint an interim chief to succeed outgoing Director-General Roberto Azevedo in late August, three sources following the process said on Wednesday, after Washington’s insistence on a U.S. candidate caused a deadlock. Read more

    Govt allows export of made-in-India ventilators

    BusinessToday: Following the approval, the decision was communicated to the Director General of Foreign Trade (DGFT), which then issued a notification allowing the export of indigenously manufactured ventilators. Read more

    With eye on China, India looks to increase barriers on imports from Asia

    Economic Times: New Delhi is considering measures to prevent trade partners mainly in Southeast Asia from re-routing Chinese goods to India with little added value, two government sources said, amid strained ties with Beijing and a push for self-reliance. Read more

    RCEP signing expected to proceed in November, says Azmin

    StarOnline: The Regional Comprehensive Economic Partnership (RCEP) participating countries (RPCs), including Malaysia, are expected to proceed with the signing of the agreement in November, according to International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali. Read more

    Thailand to support farmers, entrepreneurs in tapping RCEP potential

    XinhuaNet: Thailand’s Ministry of Commerce said on Tuesday that it will begin to train farmers and entrepreneurs on how to tap into the benefits of the Regional Comprehensive Economic Partnership (RCEP) this year. Read more

    Brazil optimistic about a Mercosur free trade accord with Canada

    Mercopress: An estimate by Brazil´s Confederation of Agriculture and Livestock (CNA) points out that the conclusion of a free trade agreement between Mercosur and Canada has the potential to increase Brazilian export revenues of agricultural products by US$7.8 billion. Read more

    AfCFTA: Nigeria not ready for restrictive rules of origin

    Nairametrics: Adopting a Restrictive Rule of Origin will not allow the Nigerian manufacturing industry enjoy the full benefits of the African Continental Free Trade Area (AfCFTA). This is according to Peter Lunenborg, the Senior Program Officer at South Centre. Read more

    How AfCFTA will help continent address Covid-19 challenges

    The New Times: A successful implementation of the African Continental Free Trade Area (AfCFTA) agreement would be crucial in helping the continent address challenges posed by the ongoing Covid-19 pandemic, a new World Bank report states. Read more

    EU-Vietnam trade agreement enters into force

    EU: EU exports to Vietnam will be taxed less as of tomorrow, 1 August. This is the immediate effect of the entry into force of the EU-Vietnam trade agreement that will ultimately scrap duties on 99% of all goods traded between the two sides. Read more

    EU and China discuss trade and economic relations

    EU: The European Union and China held today their 8th High-Level Trade and Economic Dialogue (HED). Executive Vice-President Valdis Dombrovskis, accompanied by Commissioner for Trade Phil Hogan, held the meeting via videoconference with Chinese Vice-Premier Liu He accompanied by several Vice-Ministers. 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 – July 12 -18, 2020

    Caribbean Trade and Development News Digest – July 12 -18, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 12-18, 2020! 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

    This week members of the World Trade Organization got to officially meet the eight candidates in the running to succeed incumbent Roberto Azevedo as next WTO DG. From July 15-17, each candidate participated in a special meeting of the WTO General Council and took questions from the membership, followed by a press conference. You can also access each candidate’s statement to the General Council once available here and watch the recordings on the WTO’s website here.

    Barbados’ soon to be rolled out special 12-month remote visa programme called the ‘Welcome Stamp‘ has created much excitement and largely positive international headlines. However, the island may soon have competition from other jurisdictions which have also announced digital nomad visas. In early June, Estonia adopted amendments to its laws to create a digital nomad visa programme, while Bermuda this week announced it will be launching a special one-year residential certificate. Read more

    REGIONAL NEWS

    More support for Govt’s new visa plan

    Barbados Today: The Barbados International Business Association (BIBA) has welcomed Government’s proposed 12-month Barbados Welcome Stamp initiative. BIBA President Derrick Cummins told Barbados TODAY there were several benefits that could be derived from the initiative including increased economic activity. Read more

    Now is the moment for CARICOM to re-engage with the Dominican Republic

    Dominican Today: There is a real case to be made for CARICOM setting aside its reservations and seeking an early engagement with the new administration in Santo Domingo, not least because as a former businessman Mr Abinader knows the Anglophone Caribbean. Read more

    LIAT’s creditors to meet July 31

    Barbados Today: Creditors are about to have their say on whether cash-strapped regional carrier LIAT should go into liquidation. Almost three weeks after Prime Minister of Antigua and Barbuda Gaston Browne announced the airline would be liquidated and a new airline formed, LIAT has called a meeting of the company’s creditors to discuss its wrapping up. Read more

    Antigua hopes to save LIAT with legislation

    Nation News: The Antigua and Barbuda government has provided an avenue for the regional airline, LIAT, to seek Court protection rather than being forced into liquidation after it announced that the Companies (Amendment) Act 2020 was gazetted on Wednesday. Read more

    JAMPRO, BSJ Partner To Develop Bamboo Industry

    Jamaica Gleaner: The Jamaica Promotions Corporation (JAMPRO) and the Bureau of Standards Jamaica (BSJ) are increasing their collaboration to develop Jamaica’s bamboo industry, as demand grows globally for renewable material sources for paper and other manufacturing needs. Read more

    Jamaica launches ‘Return to Set’ guidelines as filming resumes

    Loop Jamaica: JAMPRO and the Jamaica Film and TV Association (JAFTA), have officially launched the “Safe Return to Set” industry guidelines that will govern filming during and after the COVID-19 pandemic in Jamaica. Read more

    14 Entrepreneurs to start the OECS-Caribbean export coaching programme

    Dominica News Online: The OECS-Caribbean Export Development Agency’s Technical Assistance and Coaching Programme launched on July 8, 2020 with the aim of strengthening the entrepreneurial and leadership skills of 14 selected young entrepreneurs from six countries of the Eastern Caribbean. Read more

    Grenada to Reduce Airline Ticket Taxes to Encourage Regional Travel

    Caribbean National Weekly: Prime Minister Dr Keith Mitchell has disclosed that Grenada will soon be reducing taxes on airline tickets as part of measures aimed at encouraging intra-regional travel within the Caribbean Community (CARICOM). Read more

    Trinidad & Tobago PM: No Involvement in LIAT

    Newsday: The Trinidad & Tobago Prime Minister implied the Government will not step in to save cash-strapped LIAT by reversing TT’s past surrender of most of its shareholding, speaking at a briefing on Monday at the Diplomatic Centre, St Ann’s. Read more

    Leaders ‘accept’ regional airfare levies too high

    Barbados Today: High airline taxes, long blamed by many regional experts for their role in a slump in intra-regional travel, may, after all, have to be lowered, a Caribbean leader has hinted. Read more

    INTERNATIONAL NEWS

    Brexit no obstacle to WTO leadership bid, says Liam Fox

    BBC: Liam Fox has downplayed the importance of Brexit in his bid to be the first British boss of the World Trade Organization. Read more

    WTO, ICC, B20 Sound Alarm on Diminishing Availability of Trade Finance Amid Pandemic

    IISD: The World Trade Organization (WTO), International Chamber of Commerce (ICC), and Business Twenty (B20) Saudi Arabia have issued a joint statement that shines a spotlight on “the diminishing availability of trade finance.” Read more

    The formidable challenges facing the WTO’s next Director General

    ING: The World Trade Organisation has begun choosing its new Director General, with eight candidates in the running. As if safeguarding the rules of world trade during a pandemic wasn’t challenging enough, dispute settlement needs reform, China’s status within the world trading system has to be addressed, and success partly depends on US voters in the autumn. Read more

    India revives initiative to conclude Preferential Trade Agreement with S African Customs Union

    Economic Times: Discussions between Southern African Customs Union (SACU) [South Africa, Namibia, Botswana, Lesotho, Eswatini] and India to achieve a Preferential Trade Agreement (PTA) have been revived with the two sides holding a virtual meeting last week to discuss various aspects of the PTA. Read more

    US, India Discuss ‘Possibility’ of Free Trade Pact

    VoA: The U.S. and India discussed the “possibility” of a free trade pact, India’s Commerce and Industry Ministry said in a statement Thursday, just days after India began free trade agreement talks with the European Union. Read more

    US cars ‘must be left out of post-Brexit trade deal’

    BBC: Safety experts are urging the UK government to exclude American cars from any post-Brexit trade deal. Read more

    EU, India move closer to free trade deal

    Deutsche Welle: Following an online summit between the European Union and India, the two powers have announced plans to set up a “high-level dialogue” on investment and trade. Details of any potential free trade pact remain uncertain. Read more

    EU talks to rescue €750bn recovery package stall amid heated debate

    The Guardian: European Union leaders agreed to reconvene at noon on Sunday after spending an evening locked in intense negotiations in an attempt to save a summit on the terms of a €750bn (£682bn) pandemic recovery fund from an acrimonious end as the debate over the bloc’s financial future became “heated”. Read more

    Foreign Minister Toshimitsu Motegi eyes Britain trip next month to discuss trade deal

    Japan Times: Foreign Minister Toshimitsu Motegi could visit Britain as early as next month for negotiations on a trade deal that both countries want to finalize this year, government sources said Friday. Read more

    China says will stick with U.S. trade deal, but respond to ‘bullying’

    Reuters: China said on Thursday it will stick to the Phase 1 trade deal it reached with the United States earlier this year but warned that it will respond to “bullying” tactics from Washington, as relations continue to deteriorate. Read more

    Digital trade agreement of 1998 costs India, other developing nations $10 billion per annum

    Business Today: A research paper published by the United Nations Conference on Trade and Development (UNCTAD) suggests that the developing country members of the World Trade Organisation (WTO) maybe losing about $10 billion tax revenues due to a moratorium on customs duties on electronic transmissions (ET) agreed in 1998 and continued since then. Read more

    US-Africa trade will be positively impacted by AfCFTA – Florizelle Liser

    The Africa report: The Corporate Council on Africa (CCA) is the leading business association focused solely on promoting business and investment between the United States and the African continent. In this time of pandemic, both the continent and the US are looking for ways to strengthen their relationship. Read more

    Digital Trade Is the Next Big Thing in Africa

    AllAfrica: Wamkele Mene was recently appointed Secretary General of the African Continental Free Trade Area Secretariat. Because of COVID-19, free trade for countries that have ratified the agreement did not begin, as planned, on 1 July 2020. In this interview with Africa Renewal’s Kingsley Ighobor, Mr. Mene explains the way forward, how increased intra-African trade can boost economies post-COVID-19 and how digital trade will be next big thing on the continent. Read more

    China says its dollar-denominated exports, imports jumped in June, beating expectations of a decline

    CNBC: China’s dollar-denominated exports and imports rose in June, as restrictions eased and countries started to reopen their economies. Read more

    UAE-China trade to surge on the back of strong ties between the two nations

    The National: Bilateral trade between China and the UAE will continue to surge in the coming years on the back of strong relations between the two countries, despite a temporary roadblock caused by the effects of the Covid-19 pandemic, according to top officials. Read more

    Lessons from Covid, China: India needs a new paradigm for trade, industry, and development

    The Indian Express: Promoters of free trade say countries that trade with each other are unlikely to go to war with each other. The volume of India-China trade has been growing for many years. Yet soldiers of the two countries are skirmishing along their borders. Ten years ago, the Indian ambassador to China pointed out that while the volume of trade was growing no doubt, the pattern of trade was worrying. 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: