Caribbean Trade Law and Development

Tag: caribbean trade and development digest

  • Caribbean Trade & Development Digest – October 21 – 27, 2018

    Caribbean Trade & Development Digest – October 21 – 27, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of October 21-27, 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

    The main headline this week was the Ottawa Ministerial Meeting on World Trade Organisation (WTO) reform held in Ottawa, Canada, from October 24-25 and chaired by Canada’s Minister of Trade International Trade Diversification, the Honourable Jim Carr. Ministers and Heads of Delegation from thirteen other ‘likeminded’ countries joined with Canada to discuss proposals on the way forward for strengthening and modernising the world’s multilateral trade body. The WTO’s Director General Roberto Azevedo also attended the meeting at the invitation of the organisers. The joint communique from this meeting may be found here. Canada has also released a discussion paper with its ideas for WTO reform, which may be found here.

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

    REGIONAL

    Phillips Says Global Anti-Immigration Policies A Threat To Caribbean Progress

    Jamaica Gleaner: Opposition Leader and People’s National Party (PNP) President Dr Peter Phillips today warned that Caribbean progress was under threat from a rise in anti-immigration policies in rich countries. Read more 

    The Dominican Republic helps mango producers double exports

    FreshPlaza: The Dominican Government through the Ministry of Agriculture and the Special Fund for Agricultural Development (FEDA) contributed more than 130 million pesos for the construction and equipping of a modern hydrothermal treatment plant to the Banileja Association of Mango Producers (ABAPROMANGO) with the objective of doubling fruit exports next year. Read more

    CARICOM Secretariat releases biodiversity management score card

    Caribbean News Now: The Caribbean Community (CARICOM) has recorded a significant milestone with the release of a report on the state of biodiversity management in the region. Read more

    Why British trade with Africa, Caribbean and Pacific nations can boom after Brexit

    Gov.UK: UK Trade Policy Minister, George Hollingbery, spoke in Brussels to representatives from the African, Caribbean and Pacific group of states on why British trade with ACP nations can boom after Brexit. Read here.

    RI takes first jab at Indonesia-Caribbean relations

    The Jakarta Post: Following President Joko “Jokowi” Widodo’s orders to explore non-traditional trade markets, the government has moved to facilitate business-to-business talks between Indonesia and 15 countries joined in Caribbean Community (CARICOM). Read more 

    Taiwanese business delegation visits St Lucia for investment and trade opportunities

    Caribbean News Now: A business delegation from Taiwan arrived in Saint Lucia on October 24, 2018, to explore investment opportunities and engage potential business partners in Saint Lucia. Read more 

    CTO Secretary General says complacency puts Caribbean people and economies at risk

    Caribbean360: Secretary General of the Caribbean Tourism Organization (CTO) Hugh Riley has called on Caribbean states to take tsunami preparedness seriously, stating to do otherwise would put the people and regional economies at risk. Read more

    IMF says recovery in Latin America and the Caribbean has lost momentum

    Caribbean360: The International Monetary Fund’s Regional Economic Outlook for the Western Hemisphere has marked down its growth forecasts for Latin America and the Caribbean to 1.2 per cent in 2018 and 2.2 per cent in 2019, from the May 2018 forecasts of 2.0 per cent and 2.8 per cent, respectively. Read more

    INTERNATIONAL

    Vanuatu Trade Policy Review

    WTO: The Pacific island nation of Vanuatu had its first review of its trade policies and practices which took place October 23 and 25. Read more 

    Asia-Europe Meetings Close With Calls for Supporting WTO, Multilateralism

    ICTSD Bridges: The 12th Asia-Europe Meeting (ASEM) came to a close last week in Brussels, Belgium, where leaders from 51 countries examined options for greater cooperation on supporting the multilateral trading system, improving climate action, and otherwise backing multilateralism and shared policy objectives.  Read more 

    EU, US Officials Consider Approaches, Objectives for Trade Negotiating Outcomes

    ICTSD Bridges: Three months after US and EU leaders agreed to launch an “Executive Working Group” to tackle a series of trade issues, questions over how future talks will proceed and what those efforts will cover substantively remain, with trade officials offering differing public assessments in recent weeks. Read more 

    Russia seeks to capitalise on Brexit after blocking Liam Fox’s WTO plan

    The Guardian: Russia is among 20 countries that are looking to squeeze a commercial advantage from Brexit after blocking an attempt by the international trade secretary, Liam Fox, to fast-track a World Trade Organization deal on the UK’s terms of trade with the world. Read more 

    UK signals failure of bid for quick Brexit transition at WTO

    Reuters: Britain signalled on Thursday that its attempt to seal terms for its post-Brexit membership of the World Trade Organization by a fast-track procedure had failed, and it must now enter negotiations which are likely to be lengthy. Read more 

    DDG Wolff: “It is essential that the WTO adapts to future changes in world trade”

    WTO: In a lecture delivered to the Academy of Economic Studies in Chișinău, Moldova, on 24 October 2018, Deputy Director-General Alan Wolff said that much in the world of trade will change going forward, largely due to the emergence of new technologies. Read more 

    Subsidies Committee members express concerns on lack of notifications

    WTO: Members of the WTO’s Committee on Subsidies and Countervailing Measures expressed concerns at their special meeting on 23 October about the failure of many members to notify the Committee of subsidy programmes. Read more

    Canada ratifies Pacific rim deal 

    CTV: A bill to enact a new trade pact with Pacific Rim countries has passed the legislative finish line, making Canada one of the first countries to ratify the 11-country deal. Read more 

    Chilean Senate approves deepening of free trade agreement with China

    Santiago Times: This week the Chilean Senate approved the protocol of deepening the Free Trade Agreement with China, a fact that the Minister of Foreign Affairs, Roberto Ampuero, described as “very good news.” Read more 

    Will Trump push for an ‘America first’ trade agreement in Asia modelled on his new Nafta deal?

    South China Morning Post: US President Donald Trump seeks to redefine all major free-trade agreements on the basis of US economic and geopolitical leverage. In these efforts, the United States-Mexico-Canada Agreement (USMCA) is likely to serve as a blueprint. Read more 

    EU and Indonesia complete sixth round of negotiations for a trade agreement

    EU: The sixth round of negotiations for an EU-Indonesia free trade agreement took place from 15 to 19 October in Palembang, Indonesia. 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 14-20, 2018

    Caribbean Trade & Development Digest – October 14-20, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of October 14-20, 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

    In its latest Investment Trends Monitor, UNCTAD has reported that global FDI fell by 41% in the first half of 2018 due primarily to the large repatriations by US parent companies of accumulated foreign earnings from their foreign affiliates due to US government tax reforms. The full report may be found here.

    The OECD has published a list of citizenship and residence by investment programmes which it deems “high risk” to the Common Reporting Standard, and names several programmes operated by Caribbean countries.

    Nearly 700,000 protesters in London participated in the People’s March calling for a referendum on the UK’s final Brexit deal with the EU. Closer to home, in Haiti, President Moise has agreed to protesters’ calls for an investigation into the alleged misuse of funds received by Haiti under the PetroCaribe Agreement with Venezuela. Venezuela has announced it will replace the US dollar for the euro for use in international payments.

    Please see further headlines below:

    REGIONAL

    Jamaica Prime Minister wants Spanish to be second language

    Magnetic Media: Prime Minister, the Most Hon. Andrew Holness, says it is of strategic importance that the appropriate programmes be put in place, making Spanish a second language in Jamaica. Read more 

    Support grows for marijuana decriminalisation across the region

    Jamaica Observer: The chairperson of the Caricom Regional Commission on Marijuana Professor Rose-Marie Belle Antoine says there’s much support across the region for the decriminalisation of marijuana. Read more

    Haiti’s President Launches Petrocaribe probe

    VoA: Responding to protester demands to “tell us where the PetroCaribe money is” Moise tweeted Thursday that his administration would investigate the allegations of misuse of funds and would hold all those responsible accountable. Read more 

    Haiti protests over politicians’ misuse of Petrocaribe funds

    Al Jazeera: Protests in Haiti have turned violent as anger grows over billions of dollars of missing funds that were meant to provide social care and improve public services. Read more

    IMF Outlook for Latin America and the Caribbean

    IMF: Amid escalating trade tensions, tighter financial conditions, and volatile commodity markets, economic recovery in Latin America and the Caribbean (LAC) has both moderated and become more uneven.  However, activity is recovering in the Caribbean, reflecting the uptick in tourism owing to robust US and global growth. Read more 

    Is the Caribbean becoming a junkyard for Japanese excesses? (Commentary)

    St Lucia News Now: Statistics from the islands show that thousands of cars are imported into the Caribbean from Japan annually. Eight of every ten cars imported have or are nearing the age of serviceability. Many of these vehicles will retire after a few years of use with the stark reality being that they will need to be disposed of.  Read more 

    Caribbean countries set to reduce trade hurdles

    UNCTAD: Senior trade officials from the Organisation of Eastern Caribbean States (OECS) have met with UNCTAD experts to discuss a new drive to help them improve the efficiency of their cross-border trade. Read more 

    Will Mexico’s free zones affect Belize?

    LoveFM: Tracy Taeger-Panton, the Minister of State Responsible for Investment, Trade and Commerce says it is still unclear what Mexico’s plans are but the Government is looking at ways to develop the economy of the northern districts. Read more 

    Bahamas elected to UN Human Rights Council

    Magnetic Media: The Bahamas was elected by the United Nations General Assembly (UNGA), on 12 October 2018 to serve on the Human Rights Council (HRC).  The HRC was created by the UNGA in 2006, replacing the former UN Human Rights Commission, and is the UN organ responsible for promoting and protecting human rights worldwide. Read more 

    WHO removes Caribbean from Zika classification

    Jamaica Observer: The World Health Organisation (WHO) has removed its Zika virus country classification scheme from countries in the region. The scheme had categorised most of the Caribbean territories as having active Zika virus transmission. Read more

    INTERNATIONAL

    Overseas investment failing, developing countries largely unscathed: UNCTAD

    UN: Foreign direct investment (FDI) has dropped 40 per cent year-on-year so far, the UN Conference on Trade and Development (UNCTAD) said on Monday, but the $470 million decline is happening mainly in wealthy, industrialized nations, especially in North America and Western Europe. Read more 

    Venezuela ditching US dollar for euros in international trade

    Caribbean360: Venezuela will drop the US dollar from its exchange market in favour of the Euro, in reaction to crippling sanctions imposed by the United States. Read more

    Canada launches safeguard investigation on certain steel products

    WTO: On 12 October 2018, Canada notified the WTO’s Committee on Safeguards that it initiated on 11 October 2018 a safeguard investigation on certain steel products. Read more 

    WTO members review use, application of preferential rules of origin for LDCs

    WTO: At a meeting of the Committee on Rules of Origin on 15-16 October, WTO members further reviewed the use and application of preferential rules of origin programmes for least developed countries (LDCs) in line with commitments made at the WTO’s 2013 Bali and 2015 Nairobi ministerial conferences. Read more 

    DG Azevêdo: Debate on WTO reform should reflect all perspectives

    WTO: At a meeting of the full WTO membership today (16 October), Director-General Roberto Azevêdo noted the emerging debate on ‘WTO reform’ and highlighted the importance that this discussion is inclusive. Read more

    Australia accepted as new party to government procurement pact

    WTO: On 17 October 2018, parties to the WTO plurilateral Government Procurement Agreement (GPA) unanimously approved a decision to welcome Australia as the 48th WTO member to be covered by the Agreement. Read more

    WTO members fix dates for Astana Ministerial Conference

    WTO: WTO members have agreed that the organization’s next Ministerial Conference will take place from 8 to 11 June 2020 in Astana, Kazakhstan. The dates were endorsed at an 18 October meeting of the WTO’s General Council. Read more 

    670,000 march to demand final say on Brexit

    The Independent: Masses overflowed through the streets of London for more than a mile, from Hyde Park Corner to Parliament Square, as an estimated 670,000 protesters took their demand for a fresh Brexit referendum right to Theresa May’s doorstep.  Read more

    Singapore, EU ink landmark free trade agreement

    ChannelNewsAsia: Singapore and the European Union (EU) on Friday (Oct 19) inked a landmark trade deal that will eliminate tariffs and give businesses across various sectors, especially small- and medium-sized enterprises (SMEs), better market access.
    Read more

    Trump embarks on bilateral trade talks to pressure China

    New York Times: Fresh off securing trade agreements with South Korea, Canada and Mexico, President Trump is embarking on a new plan: refashioning the Trans-Pacific Partnership to his liking through a flurry of bilateral trade deals. Read more

    Australia insists trade agreement with Indonesia on track despite Israel comments

    Channel News Asia: Australian Prime Minister Scott Morrison said on Wednesday a billion-dollar free trade agreement with Indonesia will be signed this year despite a furious reaction to Canberra’s potential move to recognise Jerusalem as Israel’s capital.
    Read more

    2018 Update of the EU Control List of Dual-Use Items

    EU: On 10 October 2018, the Commission adopted the annual Delegated Regulation that updates the EU dual-use export control list in Annex I to Regulation (EC) No 428/2009 and brings it in line with the decisions taken within the framework of the international non-proliferation regimes and export control arrangements in 2017. Read more

    EU completes second round of negotiations with New Zealand

    EU: EU negotiators were in Wellington, New Zealand from 8 to 12 October 2018 for the second round of negotiations for a trade agreement. Read more 

    NEW ON CTLD BLOG

    Caribbean Citizenship/Residence by Investment Programmes among those deemed “high risk” by OECD

    If you take away multilateralism, who will hear us?

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

  • Caribbean Trade & Development Digest – September 30 – October 6, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of September 30 – October 6, 2018! We are happy to bring you the trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    Undoubtedly, the biggest trade news of the week is that after a year of negotiations, we now have the agreed text of an updated North American Free Trade Agreement (NAFTA), or what it is now officially called, the United States-Mexico-Canada Agreement (USMCA). The Agreement’s text may be found here.

    On the multilateral front, the World Trade Organisation this week concluded another successful Public Forum, with this year’s theme being “Trade 2030”. During the Public Forum, the WTO also released its flagship World Trade Report 2018, which focused on the transformative impacts which new digital technologies, such as 3D printing, blockchain and the like, will have on trade, and the challenges they could also bring.

    Please see further headlines below:

    REGIONAL NEWS

    EU Provides Funding to Develop Jamaica’s Forest Sector

    Jamaica Information Service: Some 14 million Euros will be spent by the Forestry Department to implement a National Forest Management and Conservation Plan, which is a 10-year blueprint for the building of a vibrant, sustainable and climate-resilient forest sector. Read more 

    New energy information portal to boost investments and improve decision-making within the Caribbean’s energy sector

    St Lucia News Online: News of an impending natural gas price hike across Europe, and deepening volatility surrounding Middle Eastern Oil, has within the past week been met with a more promising refrain from a region traditionally viewed as a pawn amongst kings and rooks within the global energy sector. Read more 

    Businesses equipped with tools to access the European Market

    LoveFM: Beltraide aims at tackling the problem of poverty by promoting business growth.  Beltraide in collaboration with the CARIFORUM-EU Economic Partnership Agreement (EPA) held a workshop to sensitize potential exporters as to the requirements of the European Union market. Read more 

    “Belizean products have global competitiveness,” says Caribbean Export 

    Breaking Belize News: According to the Caribbean Export Development Agency (CEDA), Belizean businesses can hold a competitive space in the world market if greater care is taken in making businesses export ready.  Read more

    Central American Agriculture Council Meeting Held in Belize 

    Breaking Belize News: On Thursday, October 4, 2018, the Ministry of Agriculture in collaboration with the Central American Agriculture Council hosted a one-day National Consultation Workshop for the Central American Agriculture Council Regional Agriculture Policy.  Read more 

    Mixed Bag for Caribbean tourism

    Jamaica Gleaner: With marked reduction from its main source market, the United States, and only a marginal increase out of Europe, tourist arrivals into the region in the last six months has been a mixed bag. Read more 

    More Value Added Products Need to be Exported to the EU, says JAMPRO head

    Caribbean360: Jamaica Promotions Corporation (JAMPRO) President Diane Edwards says more value-added products need to be exported to the European Union (EU), to reverse the decline in trade with the bloc. Read more

    JAMPRO Partners with EU and Caribbean Export on CARIFORUM-EU EPA Workshop

    South Florida Caribbean News: The European Union (EU) in Jamaica in collaboration with the Jamaica Promotions Corporation (JAMPRO), and the Caribbean Export Development Agency (Caribbean Export) hosted a workshop on the CARIFORUM-EU Economic Partnership Agreement (EPA) on October 2, 2018, at the Knutsford Court Hotel. Read more

    INTERNATIONAL NEWS

    USMCA, Trump’s new NAFTA deal, explained in 500 words

    Vox: The US, Canada, and Mexico struck a new trade deal to replace NAFTA on Sunday. It’s known as the United States-Mexico-Canada Agreement, or USMCA. Read more

    WTO issues compliance panel reports regarding Colombian measures on textiles, apparel, footwear

    WTO: On 5 October the WTO circulated compliance reports in the dispute “Colombia — Measures Relating to the Importation of Textiles, Apparel and Footwear — Recourse to Article 21.5 of the DSU by Panama and Recourse to Article 21.5 of the DSU by Colombia” (DS461). Read more 

    Isolate Trump at WTO, says former top trade judge Bacchus

    Reuters: Countries belonging to the World Trade Organization should unite against the bullying of U.S. President Donald Trump, former WTO chief judge James Bacchus said on Wednesday. Read more 

    WTO sees technology adding one third to annual trade by 2030

    CNBC: Technology and innovation will increase global trade by 1.8-2.0 percentage points annually until 2030, the head of the World Trade Organization wrote in a report published on Wednesday. Read more 

    US says its cannot support some of the EU’s ideas on WTO reform

    Euractiv: The United States gave the first hint on Thursday (4 October) of its view of attempts to reform the World Trade Organization, rejecting some proposals put forward by the European Union to resolve a crisis at the home of world trade in Geneva. Read more 

    Australia questions India’s sugar subsidy bilaterally and at WTO

    Economic Times: Australia has raised concerns over India’s sugar subsidy dole out and questioned how the host of financial assistance measures announced this year are within the rules of the World Trade Organisation (WTO).  Read more 

    Canada agrees to join U.S. and Mexico in new trade deal to replace NAFTA, say US and Canadian officials

    USA Today: Canada has agreed to join the United States and Mexico in a trade deal that will replace the North American Free Trade Agreement, U.S. and Canadian officials said Sunday night. Read more 

    ACP-EU negotiations: Taking the road to prosperity together

    EURACTIV: Talks on a new agreement between the ACP and the EU will only bear fruit if both parties take the road to prosperity together, writes the ACP’s chief negotiator. Read more 

    EU to hit Cambodia with trade sanctions, says Myanmar may follow

    Channel News Asia: The European Union told Cambodia on Friday (Oct 5) it will lose its special access to the world’s largest trading bloc, and said it was considering similar trade sanctions for Myanmar in a toughening of EU policy on human rights in Southeast Asia. Read more 

    Liked this issue? To read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.

  • Caribbean Trade & Development Digest – September 23-29, 2018

    Caribbean Trade & Development Digest – September 23-29, 2018

    Welcome to the Caribbean Trade & Development Digest for the week of September 22-29, 2018! We are happy to bring you the trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    World leaders gathered for the 73rd Session of the United Nations’ General Assembly this week where issues of trade and wider multilateralism featured prominently. Economic releases by the Organisation for Economic Cooperation and Development (OECD) and World Trade Organisation (WTO), respectively, have warned of the risks posed by escalating trade tensions to global economic and trade growth. In its flagship Trade and Development Report 2018 released this week, UNCTAD highlighted that the current trade tensions were a symptom of excessive financialisation and imbalances in trade and economic power. This week, the US also blocked the reappointment of a fourth WTO Appellate Body judge, which will reduce that body’s roster of judges to three, the bare minimum needed to hear a dispute.

    On the NAFTA front, the promised release of the renewal text agreed to by the US and Mexico has been delayed with hopes that the impasse between the US and Canada will be surmounted as the Sunday (today) deadline for agreement on the updated NAFTA looms.

    REGIONAL

    Tourism investments under the microscope

    The Gleaner: Jamaica Minister of Tourism Edmund Bartlett has put a cork on new approvals of tour businesses, while his Tourism Working Group (TWG) examines the degree to which large hotel groups may be crowding out local destination management companies and tour operators from the market. Read more 

    No significant return (on Carnival), says (Trinidad tourism minister)

    Trinidad Express: More than $500 million was spent on promoting Carnival over the last ten years and Trinidad and Tobago failed to get a significant return in terms of its investment, says Tourism Minister Randall Mitchell. Read more 

    Guyana to sign economic cooperation agreement with Barbados

    Caribbean360:  President David Granger has announced that Guyana will soon sign a framework agreement for economic cooperation with Barbados. The announcement came 24 hours after a memorandum of understanding (MOU) was signed between Guyana and Trinidad and Tobago for energy cooperation. Read more 

    Producers Seek CET Protection To Launch White Sugar Market

    The Gleaner: The sugar sector in the Caribbean is protected from outside competition by a 40 per cent tariff on brown sugar imports, and producers want that protection extended to refined sugar as a predicate to developing a market internally. Read more 

    Guyana should be pressing Trinidad & Tobago over artificial trade barriers -Ramkarran

    Stabroek: With opportunities now opening up due to Guyana’s advantageous position in the emerging oil and gas sector, it should begin pressing Trinidad and Tobago to remove its artificial barriers to trade, says commentator Ralph Ramkarran. Read more 

    T&T to continue restricting trade in honey produced in other CARICOM countries

    CNC3: The Government of Trinidad and Tobago has vowed to continue restricting the trade in honey being produced by CARICOM countries to prevent the spread of diseases. Read more 

    Caribbean region is the top destination for investors looking for second citizenship

    Global Trade Magazine: The 2018 CBI Index—a special report published by the Financial Times’ Professional Wealth Management magazine—has revealed that Caribbean nations remain the top destinations in the world to apply for second citizenship. Read more 

    Study: Post-Maria Contracts Go To Mainland, Not Puerto Rico

    The Gleaner: A study published last Wednesday found that the bulk of federal funds slated for post-hurricane reconstruction efforts in Puerto Rico are going to mainland companies despite a federal provision that states that local companies should receive priority. Read more 

    INTERNATIONAL

    World trade’s top court close to breakdown as U.S. blocks another judge

    Reuters: The supreme court of world trade is close to breakdown after the United States turned down a last-ditch petition to reappoint one of the four remaining judges at the World Trade Organization. Read more

    WTO downgrades outlook for global trade as risks accumulate

    WTO: Escalating trade tensions and tighter credit market conditions in important markets will slow trade growth for the rest of this year and in 2019, WTO economists expect. Read more

    Trade Deals, Multilateralism in the Spotlight as UN General Assembly Gets Underway

    ICTSD: Trade has been a high-profile topic both at this week’s UN General Assembly (UNGA), featuring during leaders’ speeches and at meetings in the margins, as officials lay out their visions on trade and multilateralism while also working to advance different negotiating processes at the political level.  Read more

    Sustainable Financing, Climate Action Take Centre Stage During New York, Halifax Meetings

    ICTSD: Boosting the political momentum for climate action has taken centre stage in multiple high-level meetings across North America this month, including at this week’s UN General Assembly (UNGA) in New York. Read more 

    Members conclude first review of Nairobi Decision on export competition, seek details on US farm aid package

    WTO: WTO Members approved by consensus the first triennial review of the 2015 Nairobi Decision on export competition during a meeting of the WTO’s agriculture committee on 25-26 September. Read more 

    Panels established to rule on US safeguards, Canadian wine measures

    WTO: At a meeting of the WTO’s Dispute Settlement Body (DSB) on 26 September, WTO members agreed to requests from Korea for the establishment of two panels to determine whether safeguards imposed by the United States on imports of solar cells and washers are compatible with WTO rules. Read more 

    Canada unveils plan to strengthen WTO in face of U.S. protectionism

    Bloomberg: The proposal, called “Strengthening and Modernizing the WTO,” seeks to forge an alliance of like-minded countries to “restore confidence in the multilateral trading system and discourage protectionist measures and countermeasures,” according to a copy of the eight-page document obtained by Bloomberg. Read more 

    Commissioner Malmström visits Canada to take stock of progress with EU-Canada trade agreement

    EU: On Wednesday 26 September, the Commissioner met with the Canadian Minister of International Trade Diversification, James Gordon Carr. Together, they attended the first EU-Canada Joint Committee, which is the highest body for the two partners to discuss issues of interest related to the agreement. Read more

    Trade conflicts to dampen growth in Asia

    Deutsche Welle: Rising debt, US interest rate hikes, but above all simmering trade conflicts will take their toll on Asia’s growth prospects next year, the Asian Development Bank (ADB) has said in an update of its regional outlook. Read more 

    NYTimes: President Trump signed a revised free trade agreement with South Korea on Monday in New York, cementing the first bilateral trade deal of his administration and suggesting the United States could soon win similar agreements with other trading partners. Read more 

    EU, Japan and US met at Ministerial level

    EU: The three met as a continuation of the trilateral talks launched last year, to address issues such as trade-distortive practices. Read more 

    India-South Asia trade has potential to triple to $62 billion, says World Bank 

    Economic Times: Deeper regional trade and connectivity has the potential to more than triple India’s trade with its South Asian neighbors, World Bank said in a report on Monday. Read more 

    EU, China to meet on WTO reform in October

    Reuters: European Union trade officials will travel to Beijing next month for talks with Chinese counterparts on ideas for reform of the World Trade Organization, EU ambassador to the WTO Marc Vanheukelen said on Wednesday. Read more

    US, Japan agree to negotiate a free trade agreement

    Washington Post: The United States and Japan announced Wednesday they will open negotiations on a bilateral trade agreement between the world’s first- and third-largest economies. Read more 

    India sees opportunity in escalating US-China trade war

    Livemint: India has spotted an opportunity to boost its exports with the second round of tariff hikes by the Donald Trump administration on $200 billion of Chinese imports putting the US at a disadvantage. Read more 

    Courting Canada, U.S. and Mexico cancel plans to publish NAFTA texts: sources

    Reuters: The United States and Mexico abruptly canceled plans to publish NAFTA texts on Friday, sources said, as signs of renewed efforts by Canada and Washington to settle differences raised hopes a breakthrough could be made to keep the deal trilateral. Read more 

    Brexit costings 500M a week, study says

    Politico: The British economy is 2.5 percent smaller today than if the U.K. had voted to remain in the European Union, according to the Center for European Reform, a think tank. Read more 

    The closer we get to Brexit, the more polls show Britain wants to remain in Europe

    Business Insider: The closer we get to the Brexit deadline in March 2019, the more British people tell pollsters they think their decision to leave the European Union was wrong. Read more 

    Economists are severely underestimating the amount of trade between African countries

    Quartz Africa: The share of internal trade in Africa remains low, as reflected by official statistics. This is despite numerous regional trade agreements that have led to tariffs removal within the trading blocs. At least in principle. Read more 

    UNCTAD releases Trade and Development Report 2018

    UNCTAD: The world economy is again under stress. The immediate pressures are building around escalating tariffs and volatile financial flows but behind these threats to global stability is a wider failure, since 2008, to address the inequities and imbalances of our hyperglobalized world. Read more 

    African Development Bank Launches first Africa-to-Africa (A2A) Investment Report

    AfDB: The report unearths the realities African companies face when investing in the continent, the emerging trends in A2A investment and the steps African policymakers can take to accelerate intra-African investment. Read more 

    Africa: Kagame – CFTA Will Help the World Better Relate to Africa

    All Africa: The African Continental Free Trade Area (CFTA) Agreement is a bold framework that stands to define the future of relations between the continent and the rest of the world, President Paul Kagame has said. Read more 

    ECA emphasizes holistic approach to realize Africa’s ambitions in trade

    Xinhua: The UN Economic Commission for Africa (ECA) on Wednesday called for greater all-rounded involvement in Africa’s trade policy processes, with due emphasis given to the success of Africa’s flagship trade agreements and policies. Read more 

    Commonwealth countries back rules-based global trade

    Commonwealth Secretariat: Commonwealth members in the World Trade Organisation (WTO) agreed that despite their rich diversity, including in levels of development, they are united in recognising the importance of the rules-based multilateral system as a common good. Read more

    NEW ON CTLD BLOG

    US-China Trade Tensions: What may these mean for the Caribbean?

    Liked this issue? To read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.