Caribbean Trade Law and Development

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  • Caribbean Trade and Development News Digest – June 6 – 12, 2021

    Caribbean Trade and Development News Digest – June 6 – 12, 2021

    Welcome to the Caribbean Trade and Development News Digest for the week of June 6-12, 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    Lots of interesting developments happened this week. Where do we start? Leaders of the Group of Seven (G7) are meeting in Cornwall, United Kingdom (UK) on June 11-13, for their first in-person G7 summit since the start of the COVID-19 pandemic. Among the decisions so far has been a declaration on pandemics and a commitment to increase climate change finance contributions.

    Ahead of the Summit, US President Joe Biden and UK Prime Minister Boris Johnson agreed on a New Atlantic Charter covering US-UK bilateral and multilateral cooperation in a number of areas, including climate change and security. Access the new document and the Joint Statement by the two leaders here.

    Rebeca Grynspan of Costa Rica has been chosen to be the new head of UNCTAD, becoming the first Central American to hold the position and the first woman appointed. She will take over from interim SG Isabelle Durant. Read more here

    According to a WTO press release, WTO members have moved closer to a text-based process to address the proposals put forward by delegations aimed at improving the international response to COVID-19 and to providing equitable access for COVID-19 vaccines and medical supplies. Read here.

    US Trade Representative (USTR) Ambassador Katherine Tai outlined the Biden Administration’s “Worker-Centred Trade Policy”. Read her full remarks doing so here.

    Post-Brexit relations between the UK and the European Union (EU) remain tense as the latter has fired a warning that it would react swiftly if the UK acted alone to change post-Brexit trading arrangements for Northern Ireland. Read the full story here.

    Articles on the Proposed Global Minimum Corporate Income Tax

    I was pleased to co-author an article with Tammi Pilgrim entitled “What might the proposed global minimum corporate income tax mean for Caribbean International Financial Centres (IFCs)?”. I thank the Barbados Business Authority (the leading business magazine in Barbados) and Barbados Today for publishing.

    I also highly recommend Bruce Zagaris’ excellent recent article for Tax Notes on this same issue here.

    REGIONAL NEWS

    Caricom concerned about G7 tax initiative

    Jamaica Observer: Caribbean Community (Caricom) Secretary General Irwin LaRocque says Caribbean countries must be “concerned about the soundings” being made by the Group of Seven (G7) nations that last week announced a landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on United States tech giants such as Amazon and Facebook. Read more

    There could be greater achievements, says CARICOM SG

    Jamaica Observer: Outgoing Caribbean Community (Caricom) Secretary General Irwin LaRocque is suggesting that “another mechanism” be utilised in getting member countries to greater strengthen their existing cooperation and collaboration for the future development of the region. Read more

    Irwin LaRocque recommends other mechanism for quicker implementation of CARICOM decisions

    Dominica Online: Outgoing Secretary-General of the Caribbean Community (CARICOM), Ambassador Irwin LaRocque is proposing that another mechanism be put in place to speed up the implementation of decisions for greater achievement among countries in the region. Read more

    Campbell to CARICOM: Build resilience at front end of all future planning

    EyeWitness News: If the global COVID-19 Pandemic has taught regional countries one lesson, it would be the need for regional planners to place greater focus on building resilience at the front end of all future planning to create sustainable, preventative programmes for potential crises. Read more

    Tobacco sector generates more than 110,800 jobs in the Dominican Republic

    Dominican Today: Of the 15 products leading the Dominican Republic’s total exports during 2021, tobacco (or cigars) ranks second, trailing only gold, according to data published by the Dominican Republic’s Export and Investment Center (ProDominicana). Read more

    The US continues as the DR’s main export destination

    Dominican Today: According to data published by the Center for Exportation and Investment of the Republic Dominicana, of the 15 products that lead the total exports of the Dominican Republic during 2021, tobacco (or cigars) occupies second place, only remaining below gold (ProDominicana). Read more

    Cuba suspending cash bank deposits in dollars, citing U.S. sanctions

    Reuters: Cuba said on Thursday it would temporarily stop accepting cash bank deposits in dollars, blaming tighter U.S. sanctions that are restricting its ability to use greenbacks abroad, although it will still accept transfers. Read more

    Cuba: locally-made disposable face masks to be sold

    OnCuba: The distribution of Cuban masks will begin with health workers, while their commercialization will be carried out in establishments in freely convertible currency and in others in Cuban pesos (CUP) “at very affordable prices.” Read more

    Dominica Signs Agreement To Begin Construction Of International Airport

    News 784: A monumental signing for the Commonwealth of Dominica’s international airport took place at Windsor Park Stadium on Wednesday. The agreement saw the Government of Dominicaand Montreal Management Consultants (MMCE) move one step closer to the development and construction of the airport. Read more

    GOB Optimistic that Belize will see an Increase in Exports to Guatemala

    LoveFM: Following the formalities between the leaders and delegations for Belize and Guatemala, the official discussions began with one of the main topics being the idea of a partial scope agreement. Read more

    Antigua calls for tax cuts in airline ticket prices in region

    Jamaica Observer: Antigua and Barbuda Prime Minister Gaston Browne says the novel coronavirus pandemic has provided Caribbean governments with the opportunity to implement tax cuts for airline tickets across the region. Read more

    52nd meeting of COTED: emerging issues on regional affairs

    Jamaica Gleaner: The Council for Trade and Economic Development (COTED) of the Caribbean Community (CARICOM) held its 52nd session virtually on June 1-2. It was chaired by Jamaica’s Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith. Read more

    Vietnam, Barbados examine ways to step up bilateral cooperation

    VoV: Vietnamese Ambassador to Venezuela, and Barbados Le Viet Duyen on June 3 had an online meeting with Permanent Secretary of the Ministry of Foreign Affairs and Foreign Trade of Barbados Simone Rudder to discuss bilateral cooperative ties between the two countries. Read more

    INTERNATIONAL NEWS

    No movement: UK, EU show little sign of defusing post-Brexit row

    CNBC: Britain and the European Union showed little sign of defusing a post-Brexit trade dispute on Saturday, with both sides repeating their opposing positions even after U.S. President Joe Biden encouraged them to find a compromise. Read more

    ‘Whatever it takes’, UK’s Johnson warns EU over post-Brexit trade

    Reuters: Britain will do “whatever it takes” to protect its territorial integrity in a trade dispute with the European Union, Prime Minister Boris Johnson said on Saturday, threatening emergency measures if no solution was found. Read more

    Figures show Brexit continues to depress trade with EU

    Independent: Brexit is continuing to depress UK trade with the EU, with total imports and exports of goods in the first four months of this year down by a quarter compared to 2019, according to new official figures. Read more

    Ambassador Tai Outlined Biden’s Goal of Worker-Focused Trade Policy

    New York Times: The U.S. trade representative called for stronger worker protections in trade policy as the administration looks to curb the negative impact of globalization. Read more

    US, EU, and the unmaking of Donald Trump’s trade war

    DW: Brussels and Washington are expected to put an end to much of the trade tensions fueled by the former US president. DW takes a look at the various trade crises that have strained relations between the two allies. Read more

    EU in talks with US, UK on mutual recognition of COVID-19 travel certificates

    Euractiv: The European Commission is discussing with the United States and the United Kingdom the recognition of the COVID-19 travel certificate that will come into force in July in the EU, the European Commissioner for Justice has announced. Read more

    EU ministers approve strategy on climate change adaptation

    Euractiv: European Union environment ministers on Thursday (10 June) approved the EU’s new climate change adaptation strategy, which sets out a vision up to 2050 to make Europe resilient and “fully adapted to its inevitable impacts”. Read more

    UK-Africa Forum on Trade, Policy and Reform to examine the future of trade and avenues for policy reform

    Africa News: Invest Africa (www.InvestAfrica.com), a Pan-African business and investment platform, aims to build constructive dialogue between policy makers and business leaders from the UK and Africa during the Forum. James Duddridge MP, Minister for Africa, Emma Wade-Smith OBE, H.M. Trade Commissioner for Africa, and His Excellency Ken Ofori-Atta, Minister of Finance of the Republic of Ghana will feature in the programme. Read more

    WTO council offers hope for TRIPS vaccine proposal

    Devex: It has been more than eight months since South Africa and India’s delegations to the World Trade Organization tabled a proposal to waive intellectual property protections for COVID-19 vaccines and therapeutics. Yesterday, delegates to the global body’s Council for Trade-Related Intellectual Property Rights, or TRIPS, finally agreed to move to the next stage of text-based negotiations amid growing international support for some version of the waiver. Read more

    Argentina still resists drive to make Mercosur more flexible

    Mercopress: A top official from the Argentine Government spoke yet again against a bid from Brazil and Uruguay to make Mercosur more flexible and allow members to broker one-on-one deals with other countries or blocs. Read more

    Push to change Mercosur rules opens rift among members

    BNAmericas: The Mercosur trade bloc is confronting a rift among key members Argentina, Brazil, Paraguay and Uruguay over a potential rule change. Read more

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    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 – May 30 – June 5

    Caribbean Trade and Development News Digest – May 30 – June 5

    Welcome to the Caribbean Trade and Development News Digest for the week of May 30-June 5, 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The biggest news from the G7 meetings held this week is that the grouping of some of the world’s richest nations has committed to a 15% global minimum corporate income tax rate. This development will have implications for international financial centres (IFCs), including those in the Caribbean and others around the world like the Republic of Ireland which has resisted the EU’s attempt at a minimum corporate income tax rate for that bloc.

    The UK has reached a trade deal with Norway, Iceland and Liechtenstein. Read more here. The countries of the  Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have agreed to hold accession talks with the UK, placing that country one step closer in its bid to join the trading bloc.

    This week the Caribbean Community (CARICOM) Council for Trade and Economic Development (COTED) held its 52nd annual meeting on June 1-2. WTO Director-General Ngozi Okonjo-Iweala addressed the grouping.

    CARICOM is among the priority regions to which the Biden Administration will provide vaccines through the COVAX Facility. Read the announcement from the White House here.

    Contrary to the Obama/Biden administration, the Biden/Harris Administration has shown no sign of loosening the US’ illegal trade, financial and economic embargo on Cuba or of reversing the retightening of policies under the Trump administration. Read more here.

    REGIONAL NEWS

    Caricom-Mercosur Chamber to attend WHO forum on post covid-19 trade

    Mercopress: The World Trade Organization (WTO) has invited the Inter-Regional CARICOM–MERCOSUR Trade Council (CCICaMe) to take part in the 2021 Public Forum “Trade after covid-19: Building Resilience,” to be held at its headquarters in Geneva, Switzerland, it was announced. Read more

    New Chamber seeking to boost Africa – Guyana trade, start direct flights

    News Guyana: Guyana and other countries across the Caribbean region are being presented with a new opportunity to access Africa directly and improve trade with the world’s second-largest and second-most-populous continent. A newly operational African Caribbean Chambers of Trade, Commerce and Industry, has moved in the direction of CARICOM and has opened its head office along Lamaha Street, Georgetown. Read more

    CARICOM SG calls for fairness in international financing for SIDS

    CARICOM: CARICOM Secretary-General Ambassador Irwin LaRocque has made a call for fairness in international financing for Small Island Developing States (SIDs), noting that they have been experiencing a battering from climate impacts, not of their own making. Read more

    Persaud highlights recommendations of CARICOM Commission on the Economy Report

    Barbados Advocate: During a recent web forum, Professor Avinash Persaud, Chairman of the CARICOM Commission on the Economy, highlighted that he believes CARICOM and the region’s economy could benefit greatly from enhanced co-operation and subsidiarity. Read more

    Caribbean Export, Caribbean Development Bank Join Forces to Provide Grants to MSMEs

    Caribank: The Caribbean Development Bank (CDB) and the Caribbean Export Development Agency (Caribbean Export) in collaboration with the European Union, have entered a partnership to support regional MSMEs with financial assistance to help businesses retool and preserve jobs. Read more

    With CARICOM economies in double-digit decline, PM prescribes a remedy

    Barbados Today: With ominous signs of emerging debt and other financial crises looming for Caribbean economies pummeled by the COVID-19 pandemic, Prime Minister Mia Mottley has told regional counterparts that increasing cooperation and deepening regional integration are the best options to kickstart the recovery. Read more

    Barbados Minister Discusses Areas Of Cooperation With EU

    BGIS: New models for climate financing, the setting up of a specialist centre in health care, and nutrition security were among the areas discussed, during a courtesy call with Minister in the Ministry of Economic Affairs and Investment, Marsha Caddle, and Head of Delegation of the European Union (EU) to Barbados and the Eastern Caribbean, Ambassador Malgorzata Wasilewska. Read more

    A pre-taste of UNCTAD15 with flavours from Barbados

    UNCTAD: With the 15th UNCTAD ministerial conference approaching, it’s time to give you a taste of what we are cooking for you. As the conference will be held online, we invite you to embark for virtual Barbados from 3 to 7 October 2021. Read more

    Regulations For Cannabis Import/Export In Final Stages

    JIS: Chairman of the Cannabis Licensing Authority (CLA), LeVaughn Flynn, says the Dangerous Drugs (Cannabis Import and Export Licensing) Regulations 2020 is now in the final stages before promulgation. Read more

    New loan window for SME exporters

    Jamaica Gleaner: JMMB Bank has partnered with EXIM Bank on a $150-million loan window for small to medium-sized businesses, or SMEs, involved in exports. Read more

    China woos Jamaican seafood exporters

    Jamaica Gleaner: Chinese Ambassador Tian Qi has agreed to facilitate further exploration of the economic ties between China and Jamaica to increase exports of deep-sea foods to his country. Read more

    INTERNATIONAL NEWS

    UK strikes trade deal with Norway, Iceland and Liechtenstein

    The Guardian: Digital documents to be used to cut post-Brexit paperwork under agreement hailed by Liz Truss as ‘massive boost’. Read more

    UK begins process to join Asia-Pacific bloc

    BBC: The 11-member Trans-Pacific Partnership trade bloc has agreed to open accession talks with the UK. The British government, which asked to join the TPP in February, said membership was a huge opportunity in a post-Brexit world. Read more

    UK and Australia bid to strike trade deal by mid-June

    Reuters: Britain and Australia are seeking to strike a trade agreement by mid-June, the British envoy said on Thursday, following another round of bilateral talks. Read more

    EU reaches deal on tax transparency for multinational firms

    Euractiv: European Union government and parliament negotiators reached a deal on Tuesday (1 June) on rules that will force large multinational companies to disclose how much revenue and tax they pay in the 27-nation bloc and how much in countries considered tax havens by the EU. Read more

    EU counters Biden’s vaccine patent-waiver with WTO plan

    EUObserver: The EU has submitted to the World Trade Organization (WTO) a plan aimed at expanding the production of Covid-19 vaccines – which Brussels sees as a quicker and more-targeted solution to unequal global distribution of vaccines than the intellectual property right-waiver proposal backed by the US. Read more

    EU’s Borrell: Palm oil issue shouldn’t hamper trade talks with Indonesia

    Reuters: Ongoing negotiations between the European Union and Indonesia on a trade and investment deal should not be hampered by differences over palm oil, the EU’s top diplomat said, even as the bloc aims to phase out use of palm oil in fuel. Read more

    Hungary to block EU’s Africa-Pacific trade and development deal

    Reuters: Hungary cannot approve a new European Union trade and development accord with African, Caribbean and Pacific countries because it would bring more migrants into the bloc, the country’s foreign minister said on Thursday. Read more

    Suez Canal disruption hits North African ports

    GTR: The Suez Canal – a vital artery for global trade – was brought to a sudden standstill in March, when giant container ship Ever Given became wedged sideways across it. Read more

    Uruguayan ministers travel to Paraguay to discuss flexibilization of Mercosur

    Mercopress: Uruguay’s Economy Minister Azucena Arbeleche and Foreign Minister Francisco Bustillo travelled to Paraguay Friday to discuss with the local administration of President Mario Abdo Benítez new steps towards flexibilities Mercosur’s rules. Read more

    Minister Guedes says Brazil favors the modernizing of Mercosur

    Mercopress: “We are liberal but not stupid,” said Brazil’s Economy Minister Paulo Guedes Thursday during a virtual event where he explained that his country has no intention of leaving Mercosur, but it does want to modernize it. Read more

    S. Korea, Mercosur bloc hold 6th round of FTA talks

    Yonhap News Agency: South Korea on Tuesday held the sixth round of free trade talks with a group of South American countries, after around a year of hiatus amid the COVID-19 pandemic. Read more

    India to start FTA talks with UK, EU by year-end

    Livemint: India may begin formal negotiations for free trade agreements (FTAs) with the United Kingdom (UK) and European Union (EU) by end of 2021 after completing ongoing preparatory work, commerce secretary Anup Wadhawan said. Read more

    APEC agree with WTO call for agreement on harmful fisheries by July 31- statement

    Reuters: Ministers from the Asia-Pacific Economic Cooperation (APEC) trade group said on Saturday that they supported the head of the World Trade Organization’s call to reach a “comprehensive and meaningful agreement” on harmful fisheries subsidies by July 31. Read more

    U.S. seeks trade-pact dispute panel to probe Canada dairy quotas

    BNN Bloomberg: The U.S. moved to set up a dispute-settlement panel to review Canada’s dairy quotas, which Washington alleges undermine the ability of American dairy exporters to sell a wide range of products to Canadian consumers. Read more

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  • Caribbean Trade and Development News Digest – May 9-15, 2021

    Caribbean Trade and Development News Digest – May 9-15, 2021

    Welcome to the Caribbean Trade and Development News Digest for the week of May 9-15 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The Caribbean Community (CARICOM) will have its first female Secretary General as of August 15, 2021. This week, Heads of Government unanimously selected Belizean Dr. Carla Barnett to be the incoming SG. Read more about what awaits the new SG here.

    Jamaica is exploring once again the possibility of creating an Economic Residency Programme. Read more here.

    According to the World Trade Organization (WTO), Bolivia has notified  its need to utilise the flexibility under the TRIPS  2017 amendment. Read more

    United States Trade Representative (USTR) Ambassador Katherine Tai testified this week at a Senate Finance Committee Hearing on the President’s Trade Agenda. Read her remarks here.

    Afronomicslaw Symposium: Prospects for Deepening Africa-Caribbean Economic Relations – Call for Blogs (Extended Deadline: June 4)

    Given the limited but promising trade and investment relationship between both regions, there is a dearth of scholarly analysis on the Africa-Caribbean economic relationship. This Symposium aims to address this gap in international economic relations scholarship through considered analytical pieces exploring aspects of this understudied relationship. We invite authors to submit blog contributions which critically analyze and examine this relationship from a variety of perspectives. Read the full Call for Blogs here.

    REGIONAL NEWS

    Regional integration and the CSME to be taught in CARICOM classrooms

    Loop News Caribbean: Starting on Monday, around the region, the teaching of regional integration and the Caribbean Community (CARICOM) Single Market and Economy (CSME) will be done in classrooms as part of a new indicative by the CARICOM Secretariat. Read more

    CARICOM launches regional integration and CSME pilot programme

    Searchlight: The Caribbean Community (CARICOM) Secretariat is continuing efforts to increase the teaching of regional integration and the CARICOM Single Market and Economy (CSME) in CARICOM classrooms via a new initiative that was due to start yesterday, Monday May 10, 2021. Read more

    More Protection For Condensed Milk And Clinker In CARICOM

    JIS: Minister of Industry, Investment and Commerce, Hon. Audley Shaw, has informed that condensed milk and clinker (used in cement production) supplied within the Caribbean Community (CARICOM) “have [now] been afforded an additional layer of protection”. Read more

    State Entities That Facilitate Imports And Exports To Be Digitised

    JIS: Some 20 State entities that facilitate imports and exports are earmarked for digitisation under the Jamaica Electronic Single Window for Trade (JSWIFT) initiative. Read more

    Barbados AG: UK listing disappointing, but not surprising

    Nation News: Statement from Attorney General Dale Marshall on the UK Government’s listing of Barbados as a High-Risk Third Country. Read more

    Barbados, Dominica collaborating on resilience investment

    Barbados Today: Barbados is engaging the services of the International Financial Corporation (IFC) in association with Dominica, as the two countries seek to embark on a pilot project to spur private sector investment in resilience. Read more

    St Kitts PM makes global appeal for regional vaccine availability

    NYCaribNews: Prime Minister Dr. Timothy Harris Friday called on the United States and other vaccine producing countries to ensure the equitable distribution of the vaccine needed to curb the spread of the coronavirus (COVID-19) that has killed thousands of people in the Caribbean Community (Caricom) grouping. Read more

    CARICOM states ‘lack green energy drive’ despite ‘ambition

    Barbados Today: Warning that it will take upwards of $40 billion (US$20 billion) in investment for CARICOM to reach the goal of 100 per cent renewable energy use and energy efficiency, a senior regional civil servant has expressed disappointment at the slow pace of some member states in going green. Read more

    BTMI relaunches Barbados tourism brand

    Nation News: The Barbados Tourism Marketing Inc. (BTMI) virtually relaunched Barbados’ tourism brand to the world earlier today, unveiling the new brand theme “Little Island; Big Barbados”. Read more

    BTMI chief introduces National Tourism Marketing Committee

    Barbados Today: A new National Tourism Marketing Committee (NTMC) has been established under the Barbados Tourism Marketing Inc. (BTMI) to focus on the strategic marketing of niche tourism product offerings, the state tourism agency said Friday. Read more

    Barbados exports down

    Barbados Advocate: According to the data, overall domestic exports brought in income of $102.8 million, compared to $117.2 million a year earlier and $135 million in the same three-month period in 2019. Read more

    Increase trade in services – EU delegation

    Jamaica Gleaner: Head of the European Union (EU) Delegation to Jamaica, Marianne Van Steen, is encouraging Jamaica to increase trade in services to better exploit opportunities within the 27-member trade bloc. Read more

    Government of Belize Reconstitutes a National Trade Negotiating Commission

    LoveFM: Distance, language, tariffs, and import quotas are barriers that often put small and medium-sized economies at great trading disadvantages. But with the formation of the National Trade Negotiating Commission, Belize is hoping to even the playing field. Read more

    Bahamas ambassador promotes Caribbean priorities for EU partnership agreement

    EyeWitnessNews: Maria O’Brien, ambassador extraordinaire and plenipotentiary of The Bahamas to the Kingdom of Belgium and head of mission to the European Union, recently represented The Bahamas at an official ceremony to finalize a new partnership agreement between the Organisation of African, Caribbean and Pacific States (OACPS) and the European Union. Read more

    Trinidad & Tobago Trade Ministry promotes opportunities in the UK market

    Trinidad Express: As the Government of Trinidad and Tobago continues to actively increase the country’s exports to extra-regional markets, the Ministry of Trade and Industry in collaboration with exporTT Limited recently hosted a Virtual Awareness Session on the CARIFORUM-United Kingdom (UK) Economic Partnership Agreement (EPA). Read more

    Trade Minister meets with TT Chamber’s new Head

    Trinidad Express: Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry held a virtual meeting earlier today with the newly installed President of the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC), Mr. Charles Pashley. During the meeting several matters related to supporting the growth and expansion of the local private sector were discussed. Read more

    Use of The Bahamas’ vast ocean resources — Bahamas Development Bank looks at the potential and offers grants for training

    EyeWitness News: The recent Blue Economy Think Tank hosted by the Strategic Development and Initiatives Unit of the Bahamas Development Bank (BDB) attracted over 340 registered participants and 20 panelists from The Bahamas and abroad, who examined ways in which Bahamians can benefit from sustainable use of the country’s vast ocean resources. Read more

    IDB urges Caribbean countries to do more to meet their Paris Agreement commitments

    Jamaica Observer: The Inter-American Development Bank (IDB) says Latin America and the Caribbean countries must include finance and planning perspectives to their climate policies and commitments in their nationally determined contributions (NDCs) if they expect to deliver on their Paris Agreement objectives and promote a sustainable recovery. Read more

    INTERNATIONAL NEWS

    WTO DG fixes July ministerial meeting on over-fishing rules

    Reuters: The head of the World Trade Organization plans to host a ministerial meeting on July 15 where she hopes an agreement can be reached on cutting fisheries subsidies after 20 years of talks, a document showed on Monday. Read more

    WTO Aims for Agreement on Fisheries Subsidies in July 2021

    IISD: World Trade Organization (WTO) members reviewed work undertaken in March and April to advance negotiations on an agreement to curb harmful fisheries subsidies. WTO members are aiming to reach an agreement in July 2021. Read more

    How global trade can save lives and livelihoods – and help protect the planet

    WEForum: Global trade has a role to play in saving lives in the COVID-19 pandemic, creating jobs and sustainable development that mitigates against climate change. This was the view of the panellists at the World Economic Forum’s latest Agenda Dialogues session on the Global Trade Outlook. Read more

    Piyush Goyal, US Trade Representative discuss COVID-19 vaccine production, TRIPS waiver

    Business Today: During a meeting with Commerce and Industry Minister Piyush Goyal, United States Trade Representative (USTR), Katherine Tai, reaffirmed the commitment of the US to help India. Read more

    China, WTO need to upgrade overdue digital trade rules

    Hellenic Shipping News: Over the years, the digital economy has developed greatly throughout the world. But World Trade Organization (WTO) digital trade rules have stagnated. Since the new Director-General Ngozi Okonjo-Iweala took office in February, reforms regarding digital trade rules are facing greater challenges and opportunities. Read more

    ‘Hostile environment’: After Brexit, some EU citizens in the UK are worried about their future

    CNBC: Many EU citizens who are still living in the U.K. after Brexit have said they do not feel treated equally to British citizens and feel worried about their rights, a new survey has found. Read more

    After India-EU Summit, Is a Free Trade Agreement on the Cards?

    News18: Even as the European Union has got politically weakened by Brexit, internal tensions between western European countries and eastern ones, notably Hungary and Poland, over issues of democracy and European values, problems of migration, Islamism, terrorism and rise of right-wing forces, and, in addition, economically enfeebled by the still-uncontrolled COVID crisis, India has decided to draw closer to it, driven by its own political and economic challenges. Read more

    EAC Secretary General promises to increase intra-regional trade from 20% to 50% in the next five years

    EAC: The EAC Secretary General, Hon (Dr.) Peter Mathuki has promised the business community in the region that he will do everything within his power to address the vice of Non-Tariff Barriers to trade and trade wars, and work towards raising the volume of intra-regional trade from the current level of below 20% to more than 50% over the next five years. Read more

    Cotonou 2.0: A bad trade deal for Africa?

    DW: The new EU-OACPS Partnership Agreement is only a few weeks old, but already many in Africa are calling for an update. What are the reasons for the dissatisfaction? Read more

    Impact of COVID-19 on financing of free trade in Africa assessed

    ESI Africa: African Export-Import Bank, the UN Economic Commission for Africa, the African Development Bank and Making Finance Work for Africa Partnership have released a special African Trade Finance Survey Report assessing the impact of the COVID-19 pandemic on trade finance in Africa. Read more

    Kazungula Bridge to boost regional trade and commerce

    AllAfrica: The recently constructed 923-metre-long rail and road Kazungula bridge, linking Zambia and Botswana, was inaugurated on Monday in an effort to boost bilateral and regional trade. The bridge across the Zambezi River, co-financed by the two governments, is expected to boost trade and commerce between the two countries as well as increase economic activities and prospects of other Southern African Development Community (SADC) countries, including Namibia, Zimbabwe, Malawi, DRC and Mozambique. Read more

    Belarus, South Africa to strengthen business contacts

    BELTA: Belarus and South Africa plan to strengthen business contacts. The matter was discussed during the online meeting of the representatives of the Belarusian Chamber of Commerce and Industry (BelCCI) with President of the South African Chamber of Commerce Mtho Xulu, BelTA learned from the BelCCI website. Read more

    STRAIGHT FROM THE WTO

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    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 & Development News Digest – January 17 – 23, 2020

    Caribbean Trade & Development News Digest – January 17 – 23, 2020

    Welcome to the Caribbean Trade and Development News Digest for the week of January 17-23, 2021! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world.

    THIS WEEK’S HIGHLIGHTS

    US President Joseph R. Biden and his Vice President Kamala Harris were inaugurated this week. Already the Biden administration has signed a raft of new executive orders aiming, in particular, to get a handle on the COVID-19 pandemic but also covering things such as immigration, discrimination, tackling the climate crisis, among others. Importantly, the US will be staying in the World Health Organization (WHO) and will also join the WHO-led COVAX facility which assists poorer countries’ access to vaccines.

    Belize and St. Kitts & Nevis this week settled a trade dispute that had been ongoing in the Caribbean Court of Justice (CCJ) over trade in brown sugar. Read more

    REGIONAL NEWS

    CARICOM engaged with region’s post-COVID recovery pursuits

    Stabroek: If the Georgetown-based Caribbean Community Secretariat has not been exactly ‘hogging the headlines’ insofar as its role in the regional response to the COVID-19 pandemic is concerned, it appears that the Secretariat is very much in the ‘thick of things’ in terms of coordinating the work of the Caribbean Community (CARICOM) insofar as the ongoing engagements pertaining to the recovery of the region from the impact of the virus on its respective economies are concerned. Read more

    Caribbean’s Foreign Trade At Its Worst Since Global Financial Crisis

    Jamaica Gleaner: The Economic Commission for Latin America and the Caribbean (ECLAC) says the region’s foreign trade in 2020 had its worst performance since the global financial crisis of 2008-2009, because of the economic crisis prompted by the global COVID-19 pandemic and the restrictions imposed by governments to stop its spread. Read more

    Use the Caribbean Trade Centre

    Barbados Advocate: The Caribbean Trade Centre (CTC) of the Caribbean American Chamber of Commerce could be utilised to build a strategy to put the region in a stronger position for negotiating. Read more

    Vibrant export-led strategy essential (for Barbados)

    Barbados Advocate: Barbados faces some very tough times in a troubled world and with that must come measures that are able to respond to the situation. Against this background, the call is again being made for such as the search continues for a better performing economy and to put the country on a path of sustainable growth, unlike the long talk which is getting Barbados nowhere. Read more

    Jamaica Senate Passes Microcredit Act

    JIS: The Microcredit Act 2021, which aims to license and regulate microcredit institutions that provide financing to individuals and micro, small and medium-sized enterprises (MSMEs), was approved in the Senate on Friday (Jan. 22). Read more

    Complex identities: Kamala Harris and US foreign policy towards the Caribbean

    The Atlantic Council: When Indian Prime Minister Narendra Modi congratulated US Vice-President elect Kamala Harris, he noted that her victory “is a matter of immense pride not just for your chittis, but also for all Indian Americans.” Prime Minister Andrew Holness of Jamaica said that Jamaicans “are proud that [Harris] bears Jamaican heritage,” while Prime Minister Mia Mottley of Barbados added that “we, in the Caribbean, will look forward with optimism to working with the new administration.” Read more

    INTERNATIONAL NEWS

    Readying regional trade agreements for future crises and pandemics

    UNCTAD: Policy responses to the COVID-19 pandemic have heavily disrupted trade and supply chains, with many countries putting in place ad hoc trade-restrictive measures, seemingly without any concern about their effect on trading partners – at least during the early stages of the crisis. Read more

    Key statistics and trends in trade policy 2020

    UNCTAD: With the notable exception of the increase in bilateral tariffs between the United States and China, tariffs have remained substantially stable during the last few years with tariff protection remaining a critical factor only in certain sectors in a limited number of markets. On the other hand, the use of regulatory measures and other non-tariff measures remains widespread. Read more

    Malaysia takes WTO legal action against EU over palm biofuel curbs

    Euractiv: Malaysia is taking legal action at the global trade watchdog against the European Union and member states France and Lithuania for restricting palm oil-based biofuels, the government said. Read more

    Britain’s Boris Johnson presses Biden for new trade deal

    AP: British Prime Minister Boris Johnson made clear to President Joe Biden on Saturday that he’s eager to forge a new U.S.-U.K. trade deal. Read more

    ‘She’ll be first American woman to lead WTO’ — US leaders write Biden to back Okonjo-Iweala

    The Cable: Some US leaders, including Nobel Laureate Joseph Stiglitz, have written President Joe Biden, urging him to support the candidacy of Ngozi Okonjo-Iweala for the office of the director-general of the World Trade Organisation. Read more

    UK firms told ‘set up in EU to avoid trade disruption’

    BBC: UK firms that export to the EU say they are being encouraged by the government to set up subsidiaries in the bloc to avoid disruption under new trade rules. Read more

    Rotting fish, lost business and piles of red tape. The reality of Brexit hits Britain

    CNN: For all the fanfare made when Prime Minister Boris Johnson struck a trade deal with Brussels on Christmas Eve, the inescapable reality of leaving the European Union’s customs and regulatory territory has already started to bite. The fact that the deal was only agreed one week before it came into effect meant that dangerous disruption to countless businesses that relied on seamless supply chains was inevitable. Read more

    After Brexit, Ireland and France cut out the middleman – Britain

    Reuters: From his office overlooking Cherbourg docks, general manager Yannick Millet points to trailers destined for Ireland that belong to Amazon and FedEx, new customers and a signal of a potential big shift in post-Brexit trade. Read more

    Businesses must deal with post-Brexit trade ‘challenges’ – Barnier

    Irish Times: Businesses, north and south, must deal with the consequences of Brexit and accept that it cannot be “business as usual” for trade with Britain, the EU’s chief negotiator Michel Barnier has said. Read more

    EU will have stronger powers in trade disputes

    EU: On Tuesday, Parliament adopted new rules allowing the EU to use countermeasures in trade disputes when arbitration is blocked. Read more

    China falling short of US trade deal targets

    BBC: China is falling short of its commitment to buy an extra $200bn (£146bn) worth of US goods over 2020 and 2021. China agreed to buy the goods in a trade deal with the US agreed last January in exchange for reduced tariffs on $120bn worth of goods. Read more

    China plans to expand free trade network, accelerate FTA talks

    Global Times: China has planned to expand its network of free trade and is willing to sign more free trade agreements (FTAs) with its trade partners to jointly promote free and convenient trade and investment, Gao Feng, spokesperson of the Ministry of Commerce said at a regular press briefing on Thursday. Read more

    Chinese exports rise 3.6% in coronavirus-plagued 2020; only economy with positive trade growth

    Global Times: With China’s export machine roaring into full swing, and helping mend the coronavirus-fractured global supply chains despite intermittent threats and hostile moves notably by the US and Australia, the country’s exports have proven to be a tower of strength with a full-year gain of 3.6 percent in dollar terms over 2020. Read more

    Biden speaks to leaders of Canada and Mexico on trade and migration

    Bloomberg: President Joe Biden spoke with the leaders of Canada and Mexico on Friday, his first calls with foreign counterparts since his inauguration this week. Read more

    WTO finds for South Korea over U.S. trade measures, in challenge for Biden

    Reuters: The World Trade Organization recommended on Thursday that the United States revise a series of duties imposed in the pre-Trump era on South Korea, presenting new U.S. President Joe Biden with a dilemma. Read more

    UK-Africa trade: What will Brexit change?

    Deutsche Welle: As part of its post-Brexit global vision, Britain is hosting a UK-Africa trade forum this week. But with its new trade deals failing to offer African nations much extra, the UK is falling behind as a key trading partner. Read more

    India-US trade deal may be put on the back burner

    Livemint: President Joe Biden may not be too keen to immediately pursue the India-US mini-trade deal that was under negotiation, choosing instead to focus on chalking out a China strategy and restoring US credibility in multilateral forums, including the World Trade Organization. Read more

    Indian Trade Promotion Council of India seeks flat 5 per cent GST on processed food

    New Indian Express: “Therefore, Indian texting facilities should be made at par globally with safe standards, so that it is accepted worldwide. Read more

    Qatar suspends WTO dispute with UAE as Gulf conflict thaws

    Reuters: Qatar has suspended its case at the World Trade Organization against the United Arab Emirates over measures it said were designed to isolate Qatar economically. Read more

    Portugal wants quick ratification of EU/Mercosur deal, but there are many objections

    Mercopress: Portugal which last week took the rotating presidency of the European Union for six months as of January 1st, said that it will try to conclude the bloc’s free trade agreement with Mercosur, agreed in 2019 after two decades of negotiations that have not yet been finalized. Read more

    Latin America’s Foreign Trade Drops to 12-Year Low: UN Agency ECLAC

    The Rio Times: In its newly-released annual report International Trade Outlook for Latin America and the Caribbean 2020, the UN agency estimated the value of regional exports dropped 13 percent in 2020, while imports shrank by 20 percent. Read more

    STRAIGHT FROM THE WTO

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