Caribbean Trade Law and Development

Tag: caribbean trade and development digest

  • Caribbean Trade and Development News Digest – April 16-22, 2023

    Caribbean Trade and Development News Digest – April 16-22, 2023

    Welcome to our Caribbean Trade and Development News Digest covering the week of April 16-22, 2023! 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. We do hope you enjoy this week’s edition!

    What’s new on the blog? This week’s blog piece differs a bit from our usual trade-related content but focuses on a topic which is very much en vogue at the moment in the region, that is, diaspora voting. Should the Caribbean diaspora vote in national elections back home? My co-author Kevon Edey of KevzPolitics and I discuss this. Have a read here!

    THIS WEEK’S HIGHLIGHTS!

    Foreign ministers from CARICOM and India met this week for the 4th CARICOM-India Ministerial Meeting. The remarks from Jamaica Foreign Minister Kamina Johnson Smith may be read here. Caribbean Export held its 2nd Annual Results Report this week. The report may be accessed here.

    Foreign ministers from The OECS Business Council (OBC) and the Caricom Private Sector Organization (CPSO) have entered into a new cooperation agreement in the form of a Memorandum of Understanding (MOU). See more here: http://prez.ly/nPwc.

    REGIONAL NEWS

    CARICOM to further deepen relations with India

    Jamaica Gleaner: Incoming chair of the Caribbean Community (Caricom) Council on Foreign and Community Relations, Senator Kamina Johnson Smith says she remains confident that Friday’s discussions between India and Caricom officials “will be fruitful and reflect the spirit of cooperation that defines Caricom-India relations”. Read more

    uS$2 billion fuel bill stokes record trade deficit

    Jamaica Observer: The Statistical Institute of Jamaica (Statin) in its latest release on the country’s external trade position show total imports reached US$7.1 billion over the 11 months, January to November 2022, up 31 per cent. The value of exports rose as well, going up 23 per cent to US$1.6 billion, as fuel shipped to other countries was valued twice as much as the year before. Read more

    INTERNATIONAL NEWS

    How implementation committees are moving the African free trade area from talks to action

    WEF: A fully implemented African Continental Free Trade Area would transform economies, raise African gross domestic product by 9% and reduce poverty by 50 million. It could also be a catalyst for further changes and attract investment from within Africa and beyond. Read more

    AfCFTA: Remove visas, reduce customs process to ease logistics

    East African: The umbrella bodies of the African Continental Free Trade Area (AfCFTA) private sector have called for the removal of visas and reduction of custom processes to ease movement of goods within the African continent. Read more

    Germany backs EU-Indonesia trade pact to curb China reliance

    AP: German Chancellor Olaf Scholz said Sunday that he will press for a trade agreement between the European Union and Indonesia as part of his country’s efforts to reduce its reliance on China for crucial raw materials. Read more

    UK Trade Minister in US to sign fourth trade pact with a US state
    UK.gov: Nigel Huddleston is in Washington to deepen UK-US trade ties and secure two wins that will boost jobs, investment and exports across the Atlantic. Read more

    US-led Pacific Framework might see results this year: USTR

    Nikkei: Talks to hammer out the Indo-Pacific Economic Framework for Prosperity (IPEF) are making “very good progress,” and could see tangible results as early as this year, U.S. Trade Representative Katherine Tai said Thursday. 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 – April 9-15, 2023

    Caribbean Trade and Development News Digest – April 9-15, 2023

    Welcome to our Caribbean Trade and Development News Digest covering the week of April 9-15, 22, 2023! 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. We do hope you enjoy this week’s edition!

    THIS WEEK’S HIGHLIGHTS

    There was much news for us to follow this week! The IMF and World Bank held their annual spring meetings. The ‘CARICOM at 50’ symposium was held in celebration of CARICOM’s 50th anniversary and a Youth Symposium was also organised. The CARICOM SG’s key note address at the symposium may be accessed here. Have a read below of some of this week’s other highlights.

    What’s new on the blog? Check out our latest article authored by friend of the blog and frequent guest contributor Javier Spencer on whether citizenship by investment programme could assist with funding loss and damage. Have a read here!

    REGIONAL NEWS

    Belize PM defends decision taken against Jamaicans and Haitians

    Jamaica Observer: Belize Prime Minister John Briceño has again defended his government’s decision to impose visa and other restrictions on Jamaican and Haitian nationals after Opposition Leader Shyne Barrow denounced the move. Read more

    ‘Visa requirement for Jamaicans and Haitians violates CARICOM treaty,” says Opposition Leader Shyne Barrow

    Breaking Belize News: Leader of the Opposition Shyne Barrow says the visa requirement for Jamaicans and Haitians violates CARICOM Treaty. Read more.

    Caribbean must reorient trade routes to push Guyana-led food plan

    News Room Guyana: There is much focus on the Guyana-led food plan of expanding food production in the Caribbean while cutting out expensive imports. And Finance Minister of St. Vincent and the Grenadines, Camillo Gonsalves believes that improved trade routes must be developed within the Caribbean to boost intra-regional trade. Read more

    Guyana leads CARICOM countries in economic growth for 2023

    Jamaica Gleaner: GUYANA IS expected to record the highest growth among Caribbean Community (CARICOM) countries this year, while Haiti will record under one per cent growth in 2023, according to the latest World Economic Outlook, released by the International Monetary Fund (IMF) yesterday. Read more

    Trade barriers no longer serve Caribbean countries & hinder food security – says Regional Academic

    News Room Guyana: Caribbean countries hope to slash the US$6 billion annual food import bill by 25 per cent by 2025 but these efforts are being hindered by longstanding trade barriers that do not serve Caribbean Community (CARICOM) countries well. Read more

    Agri-Food Strategy Being Implemented in CARICOM

    JIS: An agri-food strategy is being implemented within the Caribbean Community (CARICOM). This is to enhance production and trade of regional agricultural products, enable greater access to a supply of nutritious foods, and reduce reliance on the importation of extra-regional foods. Read more

    INTERNATIONAL NEWS

    NI Brexit: Decline in bulk freight moving through ports in 2022

    BBC: The amount of freight moving through Northern Ireland’s ports fell by more than 5% to 27.5m tonnes in 2022, official figures suggest. Read more

    WTO Director-General: Trade is resilient, but slowing

    CNN: WTO Director-General Ngozi Okonjo-Iweala speaks about the risk of slowing trade at the IMF-World Bank meetings. Read more

    Turkey seeks to enhance trade ties with Africa

    Africanews: Increasing trade between Turkey and Africa to 4.5 billion dollars is the objective set by the Global Forum for Intersectoral Cooperation. The initiative also aims to increase the notoriety of Turkish SMEs on the continent. Its approach is innovative. Read more

    Ukraine and Canada agree on updated trade agreement

    Yahoo News: Ukraine and Canada have announced the completion of negotiations on an updated Free Trade Agreement between the two countries; this document will replace the existing agreement that has been in effect since 2017. Read more

    Commonwealth finance ministers call for systemic reform of global financial architecture

    Barbadostoday: Finance ministers from various Commonwealth countries have called for a systemic reform of the global financial architecture to enhance access to development financing for vulnerable countries. 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 15-22, 2022

    Caribbean Trade and Development News Digest – October 15-22, 2022

    Welcome to our Caribbean Trade and Development News Digest covering the week of October 15-22, 2022! 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. We do hope you enjoy this week’s edition!

    THIS WEEK’S HIGHLIGHTS

    This week (October 17-21) was World Trade and Environment week at the WTO. Throughout the week there were 17 interesting sessions on various aspects of the trade and environment nexus organised by WTO member governments, the WTO Secretariat and NGOs. Read more here.

    Coming up this week, Barbados has its fourth trade policy review at the WTO October 25 and 26. Read more here!

    REGIONAL NEWS

    BVI Premier keen on pushing agro-trade in OECS

    BVINews: Premier Dr Natalio Wheatley has expressed that the BVI should strengthen its ties with its partners in the Organisation of Eastern Caribbean States (OECS) by participating in agricultural trade, among other things. Read more

    WTO team currently in Dominica to conduct review

    Dominica News Online: A team from the World Trade Organization (WTO) is currently in Dominica to conduct a trade policy review. Read more

    OECS heads of governments commit to more functional participation in the bloc

    Antigua Observer: A number of heads of states pledged their commitment to improving the work of the Organisation of Eastern Caribbean States (OECS) when they met this week for the 72nd meeting of the OECS Authority. Read more

    Jamaica and UAE sign double taxation agreement

    CNW: The governments of Jamaica and the United Arab Emirates (UAE) have signed an agreement to avoid double taxation and the prevention of fiscal evasion with respect to taxes on income. Read more

    Jamaica poised to help certify Guyana’s food exports to US

    Demerara Waves: A Jamaican accreditation agency, which operates to United States Food and Drugs Administration (USFDA) standards, is offering to certify Guyana’s laboratories for food exports to that North American country, officials said late Thursday. Read more

    Jamaica Regulations to import and export medical ganja gazetted

    The Gleaner: Jamaica has strengthened its position as a major player in the medical ganja industry by formalising arrangements for the import, export, transit and trans-shipment of the herb to other countries that are also signatories to international drug conventions. Read more

    Six-month export revenues total US$801 million

    The Gleaner: Revenues from total exports amounted to US$801 million during the first half of 2022, between January and June, representing an increase of 2.3 per cent relative to the comparable 2021 period. Read more

    Latin America and Caribbean countries look towards India for trade diversification, experts urge dialogue

    Financial Express: “India-LAC trade nearly doubled over the past decade, reaching $42.5 billion in 2021 and there are over 160 Indian companies present in LAC with investments exceeding $30 billion, said Karin Costa Vazquez, Executive Director of the Center for African, Latin American and Caribbean Studies. Read more

    Agency coming to help Barbadian businesses get money to export

    Barbados Today: The Government of Barbados is working toward establishing an agency that will give manufacturing businesses easier access to financing to expand their operations. Read more

    Guyana, Grenada talk enhanced partnership

    Newsroom: Foreign Secretary of Guyana Robert M. Persaud recently met with Minister for Foreign Affairs, Trade and Export Development of Grenada Joseph Andall to discuss enhanced bilateral cooperation between Guyana and Grenada in several areas. Read more

    Cuba calls U.S. trade embargo a ‘hurricane’ that never ends

    Reuters: Cuba on Wednesday said the decades-old U.S. trade embargo has been causing record financial losses and untold human suffering in recent months, at a time when Cuba was also battling the effects of the COVID-19 pandemic and Hurricane Ian. Read more

    INTERNATIONAL NEWS

    ECLAC predicts economic growth will decelerate in LAC next year

    Jamaica Observer: The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) is predicting that economic growth will decelerate in Latin America and the Caribbean next year. Read more

    Rival trade bloc would lead to huge global GDP loss, says WTO boss

    Nikkei: Geopolitical tensions and the COVID-19 pandemic have prompted some governments to veer toward protectionism, but building more diverse supply chains would better serve the cause of global resilience, the chief of the World Trade Organization said in an interview. Read more

    Free trade agreement will boost intra-Africa deals, say 90pc CEOs

    Business Daily Africa: Nine in 10 African chief executives have confidence the actualisation and adoption of the free trade agreement will boost intra-African trade, a new survey shows. Read more

    Trade war tariffs have collapsed US imports of Chinese IT hardware and consumer electronics

    SCMP: Four years into the trade war, China has lost significant US market share in IT hardware and consumer electronics to Mexico and Taiwan, though its exports of low-end semiconductors have not yet been fully replaced, a new study has found. Read more

    Failure to renew key trade measure is hitting US manufacturers hard

    The Hill: As American manufacturers face mounting economic headwinds, an expired U.S. trade measure is inflicting unnecessary damage on our manufacturing sector which plays a critical role in strengthening our nation’s health and national security and historically paves the way in any economic recovery. Read more

    U.S.-India Trade Policy Forum set for November 8, modest outcomes likely

    The Hindu: The U.S.-India Trade Policy Forum (TPF) has been scheduled for November 8 in Washington DC, The Hindu has confirmed. U.S. trade officials are arriving in New Delhi next week to finalise issues for discussion , an Indian government official told The Hindu. Read more

    Three months into the Black Sea Grain Initiative: What’s been achieved — and why it’s important

    UN: Today marks three months since the signing of the Black Sea Grain Initiative – an agreement between Russia and Ukraine brokered by the United Nations and Türkiye to resume vital food exports from Ukrainian ports to the rest of the world amid the ongoing war there. Read more

    Dhaka to seek WTO’s net food importer status

    TBS News: The government has decided to apply to the World Trade Organization (WTO) for the status of a net food-importing developing country (NFIDC), which, commerce ministry officials say, will allow Bangladesh to provide subsidies on agricultural and food exports even after its LDC graduation. 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:

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  • Caribbean Trade and Development News Digest – October 9-14, 2022

    Caribbean Trade and Development News Digest – October 9-14, 2022

    Welcome to our Caribbean Trade and Development News Digest covering the week of October 9-14, 2022! 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. We do hope you enjoy this week’s edition!

    THIS WEEK’S HIGHLIGHTS

    The Annual Meetings of the International Monetary Fund (IMF) and the World Bank took place this past week (October 10-16, 2022) with both Washington-based entities warning that the world economy could be in recession in 2023. Among the many things highlighted in UNCTAD’s recently released Trade and Development Report 2022 is that “with 60% of low-income countries and 30% of emerging market economies in or near debt distress, the possibility of a global debt crisis is high”. Barbados took the opportunity to present the Bridgetown Initiative on the reform of the global financial architecture which can be accessed here.

    What are we watching this week? The situation in Haiti has taken a turn for the worse. CARICOM countries participated in an important United Nations (UN) Security Council Meeting to address the situation in sister CARICOM member State Haiti where it is estimated by that organisation that 4.7 million Haitians face acute hunger. This Blog extends its heartfelt support for the people of Haiti. This week the FATF’s October Plenary takes place and we will also be watching this.

    What have I been up to these past few weeks? It’s been a while so I have lots to share! I was pleased to have moderated a session in September at the inaugural Africa-Caribbean Trade and Investment Forum (ACTIF) and also a session with Canadian fintech company Paystone’s CEO Tarique Al-Ansari at the inaugural Fintech Islands Conference held in Barbados, October 5-7, 2022. My latest piece for IFC Review on Barbados’ Regulatory Resilience in the Face of COVID-19 was recently published. Feel free to also check out my latest piece on what the volatility of the UK pound might mean for Caribbean tourism and trade here.

    REGIONAL NEWS

    Guyana World Trade Center aims to build bridges between local small businesses, foreign partners

    Stabroek: Chairman of Demerara Distillers Ltd., Komal Samaroo, says that “connecting Guyanese businesses with potential partners around the world” and accessing relevant information to support market access for local products ought to be the highest priority for business owners here. Read more

    Guyana signs air agreement with China

    CWN Weekly: The Government of Guyana has signed an air service agreement with the People’s Republic of China. Read more

    Guyana opens tender for its first oil refinery

    Economic Times: Guyana has called for proposals to design, finance and build its first oil refinery. Read more

    Belize’s SIB reports 13.5% GDP growth, tripling of rum production

    Amandala: The Statistical Institute of Belize reported that for the second quarter of 2022, the economy grew by 13.5%, due to increases in beverage production, fruit deliveries, and electricity generation. Read more

    Suriname eyeing economic citizenship

    Caribbean Life: Suriname, considered as one or the more developed nations in CARICOM, dropped a political bombshell in the past week, indicating that it is considering joining its neighbors in the Organization of Eastern Caribbean States (OECS) in running a passport for money and citizenship scheme. Read more

    Gopee-Scoon: Businesses booming in Trinidad and Tobago

    Newsday: Exports are at record levels, the country’s figures are great, and exciting new businesses abound in TT, effused Trade Minister Paula Gopee-Scoon, in her budget contribution on Tuesday in the House of Representatives. Read more

    INTERNATIONAL NEWS

    WTO anticipates sharp slowdown in world trade growth in 2023

    UN: Trade growth is expected to lose momentum in the second half of this year and remain subdued in 2023, as the global economy sustains multiple shocks, such as ripple effects from the war in Ukraine, the latest forecast from the World Trade Organization (WTO) has revealed. Read more

    Trade and Sustainability Discussions at WTO Approaching Next Milestone

    IISD: On October 4 and 5, the 74 members currently co-sponsoring the Trade and Environmental Sustainability Structured Discussions (TESSD) at the World Trade Organization (WTO) met to further their work and discuss preparations for a high-level stocktaking event in December. Read more

    How Countries Should Respond to the Strong Dollar

    IMFBlog: Policy responses to currency depreciation pressures should focus on the drivers of the exchange-rate moves and signs of market disruptions. Read more

    Policymakers Need Steady Hand as Storm Clouds Gather Over Global Economy

    IMFBlog: One-third of the world economy will likely contract this year or next amid shrinking real incomes and rising prices. Read more

    UK government unveils bill for digitisation of trade documents through blockchain

    Financial Express: According to Cointelegraph, MP Michelle Donelan and UK Department of Digital, Culture, Media and Sport stated that the Electronic Trade Documents Bill had been introduced to the Parliament. Read more

    UK Government asked to reconsider on trade agreements

    UK Parliament: The Environment Food and Rural Affairs (EFRA) Committee has asked the new government to re-consider a “disappointing” response to its report on the impact of the Australian free trade agreement (FTA) on the UK food and agriculture sector. Read more

    GOP Members Call for U.S.-UK Free Trade Agreement in Letter to Newly Appointed UK Trade Secretary Kemi Badenoch

    US House: Ways and Means Republican Leader Rep. Kevin Brady (R-TX) and Republican Leader of the Ways and Means Subcommittee on Trade, Rep. Adrian Smith (R-NE), joined by all Ways & Means Republicans, today sent a letter to UK Secretary for International Trade Kemi Badenoch conveying this message. Read more

    No consensus yet on China joining regional trade pact – Singapore PM

    Reuters: Singapore’s Prime Minister Lee Hsien Loong said on Tuesday there is no consensus yet for China to join a trans-Pacific trade pact, although Singapore believed it would be possible for Beijing to meet the trade bloc’s conditions. Read more

    Taiwan, U.S. hope to come up with ‘early harvest’ list on trade deal by year-end

    FocusTaiwan: Taiwan hopes to reach consensus with the United States to come up with an “early harvest list” on a bilateral trade deal before the end of this year, the nation’s deputy trade negotiator told lawmakers on 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:

    Go back

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