Caribbean Trade Law and Development

Tag: caribbean trade and development digest

  • Caribbean Trade and Development Digest – December 2-8, 2018

    Caribbean Trade and Development Digest – December 2-8, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of December 2-8, 2018! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This week, CARICOM Heads of Government held a Special Session on the CARICOM Single Market and Economy (CSME) in Port of Spain, Trinidad. They issued the St. Ann’s Declaration on CSME in which they recommitted to the process of CSME implementation and outlined some key priority areas for implementation.

    The CARICOM Competition Commission (CCC) has indicated that it is closely monitoring the proposed sale of Scotia Bank’s operations in several Caribbean jurisdictions to the Trinidad-based Republic Financial Group Ltd. Read the CCC’s full statement here.

    Members of the European Parliament (MEPs) and parliamentarians from ACP countries held their  36th session of the Joint Parliamentary Assembly (JPA) in Cotonou, Benin. They adopted several resolutions, including their Declaration of the Co-Presidents on Post-Cotonou Negotiations on the occasion of the meeting of the 36th Joint Parliamentary Assembly

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

    REGIONAL

    CARICOM to open government procurement to regional companies

    LoopBarbados: A portal called CIMSuPro – the CARICOM Interactive Marketplace and Suspension Procedure – will be established as a managed market place for CARICOM companies to post their raw material, goods and services.  It would be made available to regional and global purchasers. Read more

    More Categories of Workers to Be Granted Free Movement Within CARICOM

    Caribbean360: More Caribbean Community (CARICOM) nationals are to be allowed to seek work in fellow member states, it has been revealed, as CARICOM leaders reaffirmed their commitment to the vision of free movement and a shared market space. Read more

    CCJ Issues Record Number of Judgments in 2018

    CARICOM: During 2018, the Caribbean Court of Justice (CCJ) issued 34 judgments and reasons for decision, its highest number of judgments delivered in a calendar year since it began its operations in 2005. Throughout that period, the CCJ also heard 28 new matters in both its Original and its Appellate Jurisdictions. Read more 

    CARICOM Committee of Ambassadors charting enhanced role

    CARICOM: CARICOM Secretary-General Ambassador Irwin LaRocque in welcome remarks, told the ambassadors their role, both individually as the link between the regional and the national, and as a constituent group within the governance structure of the Caribbean Community, assumes even greater significance in the renewed drive to implement the provisions of the CSME and other critical areas of the community’s work. Read more 

    No plans for Jexit 

    Jamaica Observer: Jamaica’s Prime Minister Andrew Holness yesterday reiterated that the decision to establish a commission to review his country’s relationship with the Caribbean Community (Caricom) was not intended to create an avenue for it to leave the 15-member regional integration movement. Read more

    Tackle CSME Issues Head On, Urges CARICOM Chairman

    Caribbean360: Caribbean Community (CARICOM) Chairman, Prime Minister Andrew Holness of Jamaica, has urged a “head on” approach to tackling of complex issues during the Special CARICOM Heads of Government Meeting on the CARICOM Single Market and Economy (CSME) underway in Trinidad and Tobago. Read more

    Guyana pushes trade and investment at OIC meeting in Turkey

    Caribbean News Now: Guyana attended the 34th meeting of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC), which was held last week in Istanbul, Turkey. Representing Guyana at the meeting was its permanent ambassador to the United Nations, Michael Ten-Pow, who promoted the opportunities for trade and investment in his country. Read more

    Exxon Mobil could push Guyana past Mexico, Venezuela in oil output

    Houston Chronicle: The small South American nation of Guyana could become the continent’s second-largest oil producer thanks to the offshore discoveries made by Exxon Mobil, according to a new report. Read more 

    Sugar sales down, total exports down (Belize)

    The Reporter (Belize): Revenue earned from sugar exports, Belize’s largest export earner, were down in the month of October, contributing largely to an overall decrease in export revenues of 5.1 percent, according to the Statistical Institute of Belize. Read more

    Region’s Coconut Industry gets EDF boost

    CARICOM: The coconut industry in Barbados and the rest of the Caribbean should soon be receiving a further boost. That is because the 11th European Development Fund (EDF) will be financing a second coconut project in the region. Read more 

    Prensa Latina: The Caribbean Sugar Association (SAC) reported that its members met approximately 80 percent of Caricom”s raw sugar needs during 2017/18 harvest. Read more

    IMF thumbs up for Barbados

    Nation News (Barbados): The International Monetary Fund (IMF) likes the way the Barbados economy is being fixed, calling it an “excellent start”. Read more 

    INTERNATIONAL

    COP24 fails to adopt key scientific report

    BBC: Attempts to incorporate a key scientific study into global climate talks in Poland have failed. The IPCC report on the impacts of a temperature rise of 1.5C, had a significant impact when it was launched last October. Read more 

    Macron threatens to scupper EU-Mercosur trade deal over climate

    Euractiv: French President Emmanuel Macron has warned that he will oppose a trade deal between the EU and Mercosur if Brazil’s incoming far-right president pulls his country out of the Paris Agreement. Read more 

    Mercosur and EU trade negotiators meet in Brasilia

    The Rio Times: The foreign ministers of Mercosur and EU members are meeting in Brasilia on Thursday (December 6th) in an effort to advance the partnership agreement between the two economic blocs. This is the first time Mercosur and the UE are meeting after statements made by France’s Macron caused tension and doubt about the partnership. Read more 

    Why Qatar left OPEC

    Al Jazeera: Explaining the motivation behind the decision, Saad Sherida al-Kaabi, Qatar’s minister of state for energy affairs and president and CEO of Qatar Petroleum, said that Qatar’s exit from OPEC “is not political, it was purely a business decision for Qatar’s future strategy towards the energy sector.” Read more 

    RCEP: Experts to evaluate pact to strengthen India’s position

    Hindu Business Line: To sharpen India’s bargaining position in the Regional Comprehensive Economic Partnership (RCEP), which is being negotiated among 16 countries, the Commerce Ministry has roped in experts from academic institutions and think-tanks to carry out a detailed study of the pact and give their recommendations. Read more 

    #ACPEU – MEPS agree on a partnership tailored to international context

    EU Reporter: During the 36th session of the Joint Parliamentary Assembly (JPA), which took place from 3 to 5 December in Cotonou (Benin), Members of the European Parliament and their counterparts from 78 African, Caribbean and Pacific (ACP) countries debated and adopted several resolutions. Read more 

    Japan-EU trade pact clears hurdle on road to Feb. 1 start

    Nikkei Asian Review: Japan’s parliament approved an economic partnership agreement with the European Union early Saturday, keeping one of the world’s biggest free trade zones on course to take effect Feb. 1. Read more 

    EU agrees post-Brexit import quotas for other WTO members

    Reuters: The European Union endorsed on Friday new tariff rate quotas (TRQs) that the bloc will apply mainly for agricultural products coming from other World Trade Organization members after Brexit. Read more 

    Britons scramble to get E.U. passports before Brexit

    NBC: With the U.K. due to leave the European Union in March, the demand among Britons for citizenship and passports from the other 27 countries in the bloc has skyrocketed. Read more

    DG Azevêdo in US: This is a “once-in-a-generation opportunity” to renew trading system

    WTO: Speaking in Washington DC on 5 December, Director-General Roberto Azevêdo said that WTO members have “a once-in-a-generation opportunity to renew the trading system”. He argued that in responding to the range of challenges in the global trading system today, momentum was building towards strengthening and improving the work of the WTO. The Director-General was speaking at the National Foreign Trade Council’s annual World Trade Dinner. Read more 

    Argentina initiates WTO dispute complaint against Peruvian measures on biodiesel imports

    WTO: Argentina has requested WTO dispute consultations with Peru concerning anti-dumping and countervailing measures imposed by Peru on biodiesel imports from Argentina. Argentina’s request was circulated to WTO members on 5 December. Read more 

    Panels established to review India, Swiss complaints against US tariffs

    WTO: At its meeting on 4 December, the WTO’s Dispute Settlement Body (DSB) agreed to requests from India and Switzerland for the establishment of panels to examine tariffs imposed by the United States on steel and aluminium imports. Read more 

    United Kingdom submits draft post-Brexit services commitments to WTO

    WTO: WTO members received today, 3 December 2018, the United Kingdom’s draft schedule outlining its WTO commitments for services once the UK leaves the European Union. Members now have 45 days to review the schedule before certification. Read more 

    China confirms its working on independent WTO reform

    Asia Times: China is planning to put forward an independent proposal to promote WTO reform, Yicai.com reported, citing a government official and several sources. Read more

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

  • Caribbean Trade & Development Digest – November 25 – December 1, 2018

    Caribbean Trade & Development Digest – November 25 – December 1, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of November 25-December 1, 2018! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This week, leaders of the EU-27 at their summit in Brussels approved the draft Brexit deal struck between the UK and EU. Ahead of the UK parliamentary vote later this month, Prime Minister Theresa May has been trying to sell the deal to UK parliamentarians and the UK public alike, including in a public letter to the nation.

    G20 leaders met in Buenos Aires from November 30-December 2 for the group’s thirteenth summit and its first held in a South American country. Specifically, the leaders noted the following at paragraph 27 of their declaration:

    International trade and investment are important engines of growth, productivity, innovation, job creation and development. We recognize the contribution that the multilateral trading system has made to that end. The system is currently falling short of its objectives and there is room for improvement. We therefore support the necessary reform of the WTO to improve its functioning. We will review progress at our next Summit.

    On the sidelines of the G20 Summit, the leaders of the US, Mexico and Canada signed the US-Mexico-Canada Agreement (USMCA), meant to replace NAFTA. The deal now needs domestic ratification.

    In regional news, The Bank of Nova Scotia (Scotia Bank), announced its withdrawal from nine Caribbean countries. Its operations are being sold to the Trinidad-based financial services group, Republic Financial Holdings. This move has raised concern in several of the affected countries.

    Some sad news is that the Geneva-based International Centre for Trade and Sustainable Development (ICTSD) closed its doors this week. Through its publications, the ICTSD was a reliable source for free, timely, high quality and cutting-edge trade reporting and analysis relied on by trade and development academics, practitioners and policymakers alike. Their presence will indeed be missed.

    Please see below some of the other major headlines:

    REGIONAL

    T&T to host special CSME meeting in December

    LoopTT: Trinidad and Tobago will host a Special Meeting of the Heads of Government of the Caribbean Community (CARICOM) from December 3 to 4 which will focus on the CARICOM Single Market and Economy (CSME).  Read more 

    Takeover of Scotiabank likely to be raised in caucus at special CARICOM meeting

    Stabroek: Republic Bank’s planned acquisition of Scotiabank’s operations in Guyana and eight Caribbean countries is not on the agenda of the upcoming special meeting of the Caribbean Community Heads of Government on the CARICOM Single Market and Economy (CSME) but Foreign Affairs Minister Carl Greenidge expects that it will be raised in caucus. Read more 

    Republic Financial Holdings to acquire Scotiabank in nine Caribbean countries

    Nation News: Republic Financial Holdings Limited (RFHL) announced today, that it has entered into an agreement to acquire Scotiabank’s banking operations in Guyana, St Maarten and the Eastern Caribbean territories, including Anguilla, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines. Read more 

    Josie Warns Of Potential For Dire Consequences From Scotiabank Sale

    St Lucia Times: Former government minister, Peter Josie, has warned of potential dire consequences from a decision by Scotiabank to exit nine Caribbean countries, including Saint Lucia. Read more

     

    CARICOM Sugar Industries prepared to supply total regional demand

    RJR News: The Sugar Association of  the Caribbean has stated that for the 2017/18 crop, its members met 80 per cent of  the brown sugar needs of  Caribbean Community (CARICOM). Read more 

    T&T can lose CARICOM market for fuel

    Trinidad Guardian: T&T faces the pos­si­bil­i­ty of los­ing Cari­com mar­kets for the ex­port of fu­el as the price of fu­el com­ing out of T&T is like­ly to in­crease. Read more 

    Cuba’s most valuable exports: its doctors

    TRT World: Cuba over the last 50 years has honed in on its medical expertise to be able to punch above its weight in the international arena and garner soft power. Cuba has begun to withdraw more than 8,300 Cuban doctors from Brazil, potentially leaving millions of Brazilians, particularly its indigenous communities, without access to basic healthcare. Read more

    CARICOM Leaders claim T&T has unfair advantage in manufacturing sector

    Power 102 FM: Prime Minister, Dr Keith Rowley, says CARICOM leaders believe this country has an unfair advantage in the manufacturing sector because it benefits from lower electricity rates. Read more

    CARICOM calls for seat on ICAO council

    Stabroek: CARICOM is calling for a seat on the Council of the International Civil Aviation Organization (ICAO) as a means of having its concerns properly represented. Read more 

    CARICOM highlights work against gender violence in the region

    Prensa Latina: The Secretary General of the Caribbean Community (Caricom), Irwin LaRocque, highlighted on Sunday the important work being done in the region against gender violence. Read more 

    CARICOM Secretary General describes new management system

    CARICOM: A detailed update on the new Results-Based Management (RBM) System being pursued by the Caribbean Community (CARICOM) Secretariat was described by Deputy Secretary-General, Ambassador Dr. Manorma Soeknandan during a courtesy visit with Prime Minister Dr. the Honourable Timothy Harris. Read more 

    US Government makes US$1 million computer equipment to CARICOM IMPACS

    Bajan Reporter: U.S. Embassy Bridgetown, through its Office of International Narcotics and Law Enforcement Affairs (INL), participated in an official handover ceremony to commemorate the Government of the United States of America’s U.S. $1 million computer equipment donation to the CARICOM IMPACS/Joint Regional Communication Centre (JRCC). Read more 

    INTERNATIONAL

    G20 agreement backs ‘rules-based’ order but bows to Trump on trade reforms

    The Guardian: World leaders have signed off on an agreement which reaffirms a basic commitment by the world’s biggest economies to multilateral trade and a “rules-based international order”, but bows to US demands for urgent reform of the World Trade Organisation (WTO). Read more 

    G20: US and China agree to suspend new trade tariffs

    BBC: US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to halt new trade tariffs for 90 days to allow for talks, the US says. Read more

    WTO reform: EU proposes way forward on the functioning of the Appellate Body

    EU: The EU together with other members of the World Trade Organisation (WTO) – Australia, Canada, China, Iceland, India, Korea, Mexico, New Zealand, Norway, Singapore and Switzerland – unveiled a proposal for concrete changes to overcome the current deadlock in the WTO Appellate Body. The proposal will be presented at the meeting of the WTO General Council on 12 December. Read more

    USTR Statement on China’s Auto Tariffs

    USTR: U.S. Trade Representative Robert Lighthizer released a statement regarding China’s tariffs on U.S.-produced automobiles. Read more

    Brexit: Trump says May’s Brexit plan could hurt UK-US trade deal

    BBC: Donald Trump has suggested Theresa May’s Brexit agreement could threaten a US-UK trade deal. The US president told reporters the withdrawal agreement “sounds like a great deal for the EU” and meant the UK might not be able to trade with the US. Read more

    Argentina, India agree to increase trade flows

    Prensa Latina: Argentine President Mauricio Macri and India”s Prime Minister Narendra Modi pledged on Saturday to increase trade flow on several fronts and delved into the possibility that Argentina exports lithium to India. Read more

    EU leaders agree UK’s Brexit deal at Brussels summit

    BBC: EU leaders have approved an agreement on the UK’s withdrawal and future relations – insisting it is the “best and only deal possible”. Read more 

    U.S., Mexico and Canada ink new trade agreement, but final ratification remains big hurdle

    USA Today: President Donald Trump and the leaders of Mexico and Canada signed a revised trade pact Friday that changes many of the rules governing the free flow of commercial goods across North America.  Read more 

    After signing new North American trade pact at G-20, Trump turns sights to China

    Washington Post: President Trump suggested his Saturday showdown with Chinese President Xi Jinping could produce a cease-fire in the tariff war, capping a day that saw the American leader reach a milestone in his populist economic crusade by signing a regional trade deal with Mexico and Canada. Read more

    Parties to government procurement pact approve UK’s terms of participation post-Brexit

    WTO: At a meeting of the WTO’s Committee on Government Procurement on 27 November 2018, parties to the Government Procurement Agreement (GPA) approved in principle the United Kingdom’s final market access offer to take part in the GPA, in its own right, following its departure from the European Union. Read more

    New WTO publication analyses potential impact of Blockchain on international trade

    WTO: Amid growing interest and debate on Blockchain, the WTO launched a new publication today (27 November) that seeks to demystify the technology and analyse its capacity to transform world trade. The publication entitled “Can Blockchain revolutionize international trade?” explores how the technology could enhance areas related to WTO work and examines challenges that will have to be tackled to unlock the technology’s potential. Read more 

    World Trade Outlook Indicator signals further loss of momentum in trade growth into Q4

    WTO: Trade growth is likely to slow further into the fourth quarter of 2018 according to the WTO’s latest World Trade Outlook Indicator (WTOI) released on 26 November. The most recent WTO reading of 98.6 is the lowest since October 2016 and reflects declines in all component indices. It is below the previous value of 100.3 and falls under the baseline value of 100 for the index, signalling that trade growth in the coming months is expected to be below-trend. Read more 

    Unlocking Africa’s trade potential

    Forbes Africa: The African Export-Import Bank (Afreximbank) has identified intra-African trade as a critical factor for unlocking Africa’s trade potential. Read more 

    Study: Trade supports over 36 million jobs across the EU

    EU: Two new studies published today by the European Commission highlight the increasing importance of EU exports for job opportunities in Europe and beyond. Read more 

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

  • Caribbean Trade and Development Digest – November 18 – 24, 2018

    Caribbean Trade and Development Digest – November 18 – 24, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of November 18-24, 2018! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This was another busy week in trade news! The WTO published its report on G20 trade measures showing that trade restrictive measures have increased significantly. The EU Summit saw the approval by EU leaders of the UK-EU Brexit Withdrawal Agreement but the agreement still has several other hurdles to overcome, including approval by the UK parliament where it remains deeply unpopular.

    Please see below some of the other major headlines:

    REGIONAL

    Barbados overhauls corporate tax regime, slashes tax rate on local companies more than 20 per cent

    Caribbean360: Barbados will harmonise its domestic and international corporation tax regimes by December 31, 2018, slashing the tax burden for some local companies by up to 29 per cent. Read more

    Guyana and the EU reach an agreement to promote trade in legal timber products and improve forest governance

    Antigua Observer: Guyana and the European Union (EU) have concluded a six-year process of negotiations towards a Voluntary Partnership Agreement (VPA), which aims to improve the application of forest laws, strengthen forest governance and promote trade in legal wood products. Read more 

    Glasgow University To Pay Reparations For £200m Extracted From Region

    Jamaica Gleaner: Vice Chancellor of The University of the West Indies (UWI) Sir Hilary Beckles has reported that The University of Glasgow in the United Kingdom (UK) has agreed to pay reparations for £200 million (approximately J$34 billion) taken from the Caribbean. Read more 

    Bahamas’ WTO membership is no “fait accompli”

    Tribune 242: The Government’s chief World Trade Organisation (WTO) negotiator yesterday said The Bahamas’ accession was no “fait accompli”, telling accountants: “I’m not tied to any outcome.” Read more 

    Bahamas Chamber hires consultant for WTO Impact analysis

    Tribune 242: The Bahamas Chamber of Commerce has hired Oxford Economics to study the likely economic impact of this nation’s accession to full World Trade Organisation (WTO) membership. Read more 

    UK Hydrographic Office presents Guyana with marine geospatial data

    Government of the UK: UKHO presents Guyanese Government with findings from a recent seabed mapping campaign to support the sustainable growth of its blue economy. Read more 

    Full CSME implementation needs to be advanced in light of global trade wars – CARICOM

    CARICOM: The CARICOM Single Market and Economy (CSME) could be used to insulate the region from the fallout of escalating global trade wars suggests the CARICOM Secretary-General. Read more

    CARICOM Development funds must be replenished soon 

    Loop News Barbados: The CARICOM Development Fund (CDF) has stimulated higher incomes and expanded trade for the Caribbean region. However, you cannot pour from an empty cup, therefore members states are being urged to put their monies forward to ensure the Fund can continue to deliver for the islands, and can look into forging partnerships to garner more benefits for small and medium enterprises as well. Read more 

    CARICOM Looking To Re-Introduce Single Security Check

    St Lucia Times: The Caribbean Community (CARICOM) is seeking to re-introduce the single security check for direct transit passengers on multi-stop intra-community flights. Read more 

     

    INTERNATIONAL 

    EU leaders agree UK’s Brexit deal

    BBC: EU leaders have approved an agreement on the UK’s withdrawal and future relations – insisting it is the “best and only deal possible”. Read more 

    China is paying for Most of Trump’sTrade War, Research says 

    Bloomberg: President Donald Trump is succeeding in making China pay most of the cost of his trade war.That’s the conclusion of a new paper from EconPol Europe, a network of researchers in the European Union. Read more

    Africa-China trade hits $230bn

    Business Report: Over the past decade China’s trade with Africa increased from $100 billion (R1.4 trillion) in 2007 to $230bn by the end of 2017. Read more 

    Africa: Trade Misinvoicing Costs South Africa U.S.$7.4 Billion in Tax a Year

    All Africa: While SARS is scrambling to meet collection targets, a new report estimates the country lost $37-billion in revenue to trade misinvoicing in five years. Trade misinvoicing is thought to be the largest component of illicit financial flows, draining developing countries of much-needed finances. Read more 

    Trudeau meets key trade partners to talk about future of Pacific trade deal

    Toronto City News: Prime Minister Justin Trudeau is spending his last day at a major economic summit meeting with two key trading allies across the Pacific in the shadow of an ongoing trade war between the world’s two biggest economies. Read more 

    Investors hope for trade war ceasefire at G20 summit

    The Guardian: There are hopes, however limited, that the meeting between the two leaders in Buenos Aires will result in a calming of tensions which have so far resulted in huge share price drops, most notably in US tech stocks. Read more 

    India seeks binding commitments to simplify services trade in RCEP 
    Economic Times: India has asked 15 Asia-Pacific countries to make “binding and commercially meaningful” commitments to simplify trade in information technology and business services aimed at easing movement of skilled professionals in the proposed Regional Comprehensive Economic Partnership (RCEP) agreement being negotiated. Read more

    Panels established to review US steel and aluminium tariffs, countermeasures on US imports

    WTO: At its meeting on 21 November, the WTO’s Dispute Settlement Body (DSB) agreed to requests from seven members for the establishment of panels to examine tariffs imposed by the United States on steel and aluminium imports. Read more 

    WTO report shows sharp rise in trade-restrictive measures from G20 economies

    WTO: The WTO’s 20th monitoring report on Group of 20 (G20) trade measures issued on 22 November shows that the amount of trade covered by new import-restrictive measures hit a new high during the current reporting period.  Read more 

    WTO, UNCTAD, ITC sign MoU to provide businesses with better access to trade data

    WTO: The WTO, the United Nations Conference on Trade and Development (UNCTAD) and the International Trade Centre (ITC) signed today (23 November) a Memorandum of Understanding to advance the development of an online platform — the Global Trade Helpdesk — aimed at providing businesses, and particularly small businesses, with faster and easier access to trade data and information on potential export markets. Read more 

    Items proposed for consideration at the next meeting of the Dispute Settlement Body

    WTO: The WTO Secretariat has circulated a meeting notice and list of items proposed for the next meeting, on 4 December 2018, of the Dispute Settlement Body, which consists of all WTO members and oversees legal disputes among them. Read more 

    Morocco files appeal against panel ruling in dispute with Turkey over steel duties

    WTO: Morocco filed an appeal on 20 November concerning the WTO panel report in the case brought by Turkey in “Morocco — Anti-dumping Measures on Certain Hot-Rolled Steel from Turkey” (DS513). The panel report was circulated to WTO members on 31 October. Read more

    Panama files appeal against compliance panel ruling in dispute with Colombia over import measures

    WTO: Panama filed an appeal on 20 November concerning the WTO compliance panel report in the case “Colombia — Measures Relating to the Importation of Textiles, Apparel and Footwear (Recourse to Article 21.5 of the DSU by Colombia and Panama)” (DS461). The compliance panel report was circulated to WTO members on 5 October. Read more

    WTO members review regional trade agreements covering EU, Ghana and EAEU

    WTO: WTO members reviewed the interim Economic Partnership Agreement between the European Union and Ghana at the 19 November meeting of the Committee on Regional Trade Agreements. Members also considered the Eurasian Economic Union (EAEU) treaty and EAEU accessions of Armenia and the Kyrgyz Republic. Read more

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

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

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

    Welcome to the Caribbean Trade & Development Digest for the week of October 28-November 3, 2018! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

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

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

    REGIONAL

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

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

    OECD support on economic citizenship programmes unreasonable, says OECS

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

    OECS to establish a diplomatic presence in Africa

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

    OECS to hold Blue Economy Seminars in Member States

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

    TCI needs UK letter of approval to start APIS with CARICOM

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

    Caribbean countries discuss global trade challenges

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

    Guyana trade mission jets into Aberdeen

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

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

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

    CARICOM countries join call for US to lift embargo against Cuba

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

    INTERNATIONAL

    Vietnam is winning the US-China trade war

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

    Pacific-Rim trade deal to kick in December

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

    Future economy minister says Mercosur is not a priority for Bolsonaro

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

    US attacks UK plan for digital services tax on tech giants 

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

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

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

    USTR to hold hearing in December over trade talks with Japan

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

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

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

    Alibaba launched Africa’s first electronic trade platform

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

    Critics of EU-Mercosur deal name conditions for support

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

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

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

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

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

    Nigeria is set to host Africa Trade Forum 2018

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

    Dairy farmers ‘very disappointed’ with USMCA

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

    Commonwealth concerned at technological gap in trade

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

    RP-US bilateral trade agreement

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

    India, China to undertake joint research on WTO reforms

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

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

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

    Brexit: Relations ‘fraying’ between Britain and Ireland

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

    Brexit: Business leaders call for new EU referendum

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

    Minister Pato signs ACP administrative cooperative agreement

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

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

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

    Women-supporting trade policies need better data, experts say

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

    WTO members discuss implementation of the Information Technology Agreement

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

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

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

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

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

    RCEP nations unlikely to reach agreement this year

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

    Philippines, Japan eye inclusion of e-commerce

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

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