Caribbean Trade Law and Development

Tag: Caribbean Trade & Development Digest

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

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

    Welcome to the Caribbean Trade & Development News Digest for the week of July 27-August 2, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

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

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

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

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

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

    REGIONAL NEWS

    Bahamas Bids To Secure $9m In Uk Exports Trade

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

    Trade talks begin on economic partnership agreement with the UK

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

    Ice cream brand started in T&T expands across Canada

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

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

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

    Belize government launches Micro, Small and Medium Enterprise program

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

    Online Application Software Making It Easier To Do Business At Ports

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

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

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

    EXIM Bank, Jampro Form Export Club

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

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

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

    INTERNATIONAL NEWS

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

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

    Govt allows export of made-in-India ventilators

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

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

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

    RCEP signing expected to proceed in November, says Azmin

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

    Thailand to support farmers, entrepreneurs in tapping RCEP potential

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

    Brazil optimistic about a Mercosur free trade accord with Canada

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

    AfCFTA: Nigeria not ready for restrictive rules of origin

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

    How AfCFTA will help continent address Covid-19 challenges

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

    EU-Vietnam trade agreement enters into force

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

    EU and China discuss trade and economic relations

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

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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

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

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

    Welcome to the Caribbean Trade & Development News Digest for the week of July 12-18, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

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

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

    REGIONAL NEWS

    More support for Govt’s new visa plan

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

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

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

    LIAT’s creditors to meet July 31

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

    Antigua hopes to save LIAT with legislation

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

    JAMPRO, BSJ Partner To Develop Bamboo Industry

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

    Jamaica launches ‘Return to Set’ guidelines as filming resumes

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

    14 Entrepreneurs to start the OECS-Caribbean export coaching programme

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

    Grenada to Reduce Airline Ticket Taxes to Encourage Regional Travel

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

    Trinidad & Tobago PM: No Involvement in LIAT

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

    Leaders ‘accept’ regional airfare levies too high

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

    INTERNATIONAL NEWS

    Brexit no obstacle to WTO leadership bid, says Liam Fox

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

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

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

    The formidable challenges facing the WTO’s next Director General

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

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

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

    US, India Discuss ‘Possibility’ of Free Trade Pact

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

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

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

    EU, India move closer to free trade deal

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

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

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

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

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

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

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

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

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

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

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

    Digital Trade Is the Next Big Thing in Africa

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

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

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

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

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

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

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

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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

  • Caribbean Trade and Development News Digest – June 28-July 4, 2020

    Caribbean Trade and Development News Digest – June 28-July 4, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 28- July 4, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The UNCTAD-OECD-WTO Report on G20 Trade and Investment Measures released June 29, 2020 found that during the review period, G20 economies implemented 154 new trade and trade-related measures, 95 of them trade-facilitating and 59 trade-restrictive. It further found that “of these measures, 93 – or about 60% – were linked to the COVID-19 pandemic”. Read the full report here.

    The USMCA, the replacement for NAFTA, has taken effect but there is no end to the trade tensions among the three parties.

    This week the Hague-based International Court of Justice (ICJ) held its first virtual hearing on whether it has jurisdiction in the territorial dispute between Guyana and Venezuela to find that the 1899 arbitral award is binding. Read here

    The big news this week in the Caribbean has been the decision by leaders of the Caribbean Community (CARICOM) to dissolve regional air carrier LIAT. However, not all leaders are in favour. Antigua & Barbuda Prime Minister Gaston Browne has indicated his disagreement with giving up on the regional airline.

    CARICOM leaders met virtually on Friday, July 3. Barbados Prime Minister, Mia Amor Mottley, who held the six month rotating chairmanship of the regional bloc since January 2020, officially handed over to incoming chairman St Vincent & the Grenadines Prime Minister, Ralph Gonsalves. Watch a video from the Hand Over here.

    REGIONAL NEWS

    Guyana short-lists 19 companies to market its oil

    Reuters: A group of 19 companies including oil majors, trading houses and state-run firms were approved by Guyana’s government for the next phase of a competitive process aimed at selecting an agent for marketing its share of crude produced in the country. Read more

    Guyana Wants World Court To Confirm Border With Venezuela

    News Americas Now: Guyana may be embroiled in its own election fiasco, but it took time out Tuesday to urge the world court, the International Court of Justice (ICJ), to confirm the border between Venezuela and the then-colony of British Guiana once and for all. Read more

    Tourism bodies get funding to help in fight against illegal trade in wildlife

    Stabroek: The Tourism and Hospitality Association of Guyana (THAG) and the Guyana Tourism Authority (GTA) have received funding from the Latin American Trade Association (LATA) Foundation to create a Counter Wildlife Trafficking Communications Toolkit. Read more

    MSME Sector hard hit by COVID-19

    Barbados Advocate: The micro, small and medium enterprise (MSME) sector has been hard hit by the COVID-19 pandemic, as businesses have reported a fall-off in revenue due to measures taken to curb the spread of the virus and employers opted to go the route of layoffs rather than implementing pay cuts for their employees, during the lockdown period. Read more

    Government initiatives to help struggling small businesses coming soon

    LoopBarbados: Government will be rolling out a variety of programmes and initiatives to help Micro, Small, and Medium-Sized Enterprises (MSMEs) over the next few months. Read more

    PM Minnis: No Free Trade Zone for Andros

    EyeWitness News: Prime Minister Dr Hubert Minnis yesterday assured that the government will not approve a free trade zone in Andros and insisted his administration will not sell vast tracks of Bahamian land. Read more

    Saint Lucia launches ‘I AM CARICOM’ campaign

    St Lucia News Online: The Regional Integration Unit in the Office of the Prime Minister, in collaboration with the Caribbean Community (CARICOM) Secretariat, announces the launch of the ‘I AM CARICOM’ Communications Campaign in Saint Lucia. Read more

    Challenges of 2020 Amplify Importance of Regional Cooperation – CARICOM Outgoing Chair

    CARICOM: Outgoing Chair of the Caribbean Community (CARICOM), Prime Minister Mia Mottley of Barbados, has expressed profound gratitude to the organisation and institutions that have steered the Community through the unprecedented challenges posed so far by the year 2020. Read more

    PM Gonsalves Praises CARICOM Achievements, says Challenges Must Strengthen Movement

    CARICOM: The challenges of nature and the global political economy must serve as driving forces to build a stronger, better Caribbean Community (CARICOM), said Dr. the Hon. Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines. Read more

    CARICOM to conduct survey on impact of COVID-19 on food security

    NYCaribNews: The Guyana-based Caribbean Community (CARICOM) Secretariat Monday announced the launch of the second round of the Caribbean coronavirus (COVID-19) Food Security and Livelihoods Survey. Read more

    New models needed to encourage FDI in agriculture

    Barbados Today: The agriculture sector, which makes a significant contribution to the Gross Domestic Product (GDP) in many Caribbean economies, must look at new financing models to encourage foreign direct investment (FDI), as it seeks to rebuild from the fallout of the COVID-19 pandemic. Read more

    Imports down 39.7% in May, says SIB

    Amandala: The Statistical Institute of Belize (SIB) reported that Belize’s imports for May 2020 saw a dramatic decrease of $67.3 million, down 39.7% from the $169.4 million worth of goods we imported in May 2019. The SIB attributes most of this decrease to the COVID-19 pandemic, which resulted in an economic slowdown. Read more

    Jampro Pitching Seven Limestone Packages To Big Investors

    Jamaica Gleaner: Jampro on Wednesday pitched seven limestone packages to local and investors geared at exploiting around 50 billion tonnes of reserves laying idle across Jamaica. Read more

    We Gatherin’ could restart

    Barbados Today: Government has not closed the door on the possible restart of its Vision 2020 We Gatherin’ campaign that would see Barbadians from the diaspora returning to connect with their heritage, according to Project Coordinator for the campaign Selma Green. Read more

    Caricom SG says last four months exceptional for region

    NYCaribNews: Caribbean Community (Caricom) Secretary-General Irwin LaRocque said yesterday that the past four months have proven to be the “most exceptional periods” for the 15-member regional integration movement. Read more

    INTERNATIONAL NEWS

    The WTO needs a shake up before it’s too late

    Telegraph: Our global trading system is in trouble, and it’s only going to be made worse by the coronavirus pandemic. Read the full op-ed by Liam Fox here.

    EU trade chief Hogan says he will not seek to head WTO

    Euractiv: European Trade Commissioner Phil Hogan said on Monday (29 June) he would not seek to become the next director-general of the World Trade Organisation, despite having previously stated he was looking into the possibility. Read more

    Who Will Lead the WTO and Help It Avoid Collapse?

    Washington Post: The campaign to lead the World Trade Organization during the most turbulent period of its 25-year existence has officially begun. Playing out against the backdrop of a pandemic, a worldwide recession, the U.S.-China battle for trade supremacy and the American presidential election, there couldn’t be more at stake. Read more

    WTO needs urgent reform, says Saudi trade group

    Arab News: The World Trade Organization (WTO) requires urgent reform in the wake of the COVID-19 pandemic, according to the Think20 (T20) engagement group. Read more

    As New NAFTA Takes Effect, Much Remains Undone

    New York Times: The beginning of a new trade deal does not signal an end to trade disputes between United States, Canada and Mexico. Read more

    Justin Trudeau might skip US-Canada-Mexico summit due to tariff and coronavirus

    New York Post: Canadian Prime Minister Justin Trudeau might be skipping the United States–Mexico–Canada Agreement (USMCA) summit in Washington DC next week. Read more

    Brexit: Serious differences over trade deal, say UK and EU

    BBC: The UK and EU have said serious differences remain over a post-Brexit trade deal, following the latest negotiations in Brussels. EU negotiator Michel Barnier said the bloc’s position needed to be “better understood and respected” by the UK if an agreement is to be found. Read more

    U.K., Kenya to Negotiate Post-Brexit Trade Deal

    Bloomberg: British Prime Minister Boris Johnson and Kenya’s President Uhuru Kenyatta agreed to start negotiations for a post-Brexit trade agreement between the two nations. Read more

    UK sets September deadline for EU trade deal

    Euractiv: The UK has earmarked September as its deadline for agreeing on a new trade deal with the EU after negotiators held their first face-to-face meetings since the start of the coronavirus pandemic. Read more

    A ‘new Cold War’?: How the US-China trade dispute is deepening

    Al Jazeera: More industries are being penalised as bipartisan anti-China sentiment rises before the November polls in the US. Read more

    Niue ratifies regional PACER Plus trade agreement

    Radio New Zealand: Niue has ratified the regional trade agreement PACER Plus, pushing it closer to implementation. Read more

    China and India are sparring but neither can afford a full-on trade war

    CNN: Last month’s deadly border battle between India and China has already begun to affect business and technology. But the world’s two most populous countries have a lot to lose should the dispute escalate into a full-on trade war. Read more

    Why Accelerating Implementation of AfCFTA Must Remain a Top Priority

    Inter-press Service: 1 July 2020 was supposed to be the official date to start trading under the African Continental Free Trade Area (AfCFTA). It was a much-anticipated follow up to the 2019 African Union Summit, that launched the operational phase of the AfCFTA in a colorful ceremony in Niamey – Niger. Read more

    India may invoke GATS security exception at WTO to justify ban on Chinese apps

    Hindu Business Line: India may use its right to invoke security exceptions under the General Agreement on Trade in Services (GATS) at the World Trade Organization (WTO), if required, to justify the ban on 59 Chinese mobile apps, including the popular TikTok app, imposed by the Centre earlier this week, a government official has said. Read more

    UK statement to the WTO Committee on Trade and the Environment

    Gov.uk: The UK’s Ambassador to the WTO and UN in Geneva, Julian Braithwaite, delivered this statement at a meeting of the WTO Committee on Trade and the Environment on 3 July 2020. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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

  • Caribbean Trade and Development News Digest – June 21-27, 2020

    Caribbean Trade and Development News Digest – June 21-27, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 21-27, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The number of nominees for next World Trade Organization (WTO) Director-General continues to increase. This week, South Korea nominated its trade minister, Ms Yoo Myung-hee.

    The candidates have been making their case to the public on their vision for the WTO which is currently in crisis. For example, Nigerian candidate Ngozi Okonjo-Iweala penned an op-ed on reviving the WTO here. Egyptian candidate, Hamid Mamdouh, participated in a WITA Webinar to discuss his candidacy and vision for the WTO which you can watch here.

    Yesterday, June 27 was UN Micro, Small and Medium-sized Enterprise (MSME) Day. Read some of our previous posts on MSMEs and the COVID-19 crisis here:

    COVID-19’s Impact on Micro, Small and Medium-Sized Enterprises (Guest contribution by Deah James)

    COVID-19 and MSMEs: Impacts and Options

    On a final editorial note, this publication announces its solidarity with the movements currently taking place across the US and the world for racial equality and justice #blacklivesmatter.

    REGIONAL NEWS

    CARICOM’s stake in the WTO Director-General Race

    Barbados Today: Incumbent World Trade Organization (WTO) Director-General (DG) Mr Roberto Azevedo’s recent announcement of his resignation a full year before concluding his second term of office took the world by surprise and presents another plot twist among the mounting challenges confronting the guardian of the multilateral trading system. Read more

    DR has opportunity to attract investment due to COVID-19

    Dominican Today: The Dominican Republic has the opportunity to attract foreign investment from multinationals that will seek to have their factories close to the United States due to the COVID-19 pandemic. This was stated by Ana Arias Urones, Senior Specialist of the Trade and Investment Division of the Inter-American Development Bank (IDB), who stressed that in the next six months the country will have the opportunity to take advantage of post-covid-19 recovery scenarios to position itself as a foreign investment destination. Read more

    C’bean among countries unfairly targeted by US senators over Cuba

    Jamaica Observer: Three US senators — who have done little to advance the interests of the Caribbean and with whom requests for meetings by many Caribbean ambassadors are usually shunted to their staff — are now proposing US Government punishment for Caribbean countries that request assistance from Cuba for medical personnel. Read more

    EU seeking to improve on its financing conditions

    Barbados Advocate: The European Union has a vision to provide grants and loans together in a financing package so that it can improve the financing
    conditions that it offers its partner countries. Ambassador Daniela Tramacere, Head of the EU Delegation to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM noted the
    above as she spoke recently during the launch of the Barbados Water
    Supply Infrastructure Rehabilitation Project by the Barbados Water
    Authority. Read more

    Operations Of 20 Entities To Be Digitised Under Single Window Initiative

    JIS: The operations of approximately 20 State entities that facilitate imports and exports are earmarked for digitisation under the Jamaica Single Window for Trade (JSWIFT) initiative, which is being implemented by the Jamaica Customs Agency (JCA). Jamaica. Read more

    US$12.5 billion limestone potential

    Jamaica Observer: As the country seeks to expand its investment opportunities, stronger calls are being made for investors and exporters to take advantage of the emerging benefits in the value-added limestone industry. Read more

    Shaw denies companies leaving Ja due to cannabis regulation lag

    Jamaica Observer: MINISTER of Industry, Commerce, Agriculture and Fisheries Audley Shaw has denied claims that cannabis companies are leaving Jamaica as a result of the country’s failure to implement import/export regulations. Read more

    Region Cannot Return To Pre-COVID-19 Era – Bartlett

    Jamaica Gleaner: Jamaica’s Tourism Minister, Edmund Bartlett, says for the first quarter of this year, international tourism has recorded 67 million fewer arrivals and a loss of US$80 billion in exports. Read more

    Tian Qi | Enhancing China-Caribbean Cooperation In Building Belt And Road

    Jamaica Gleaner: On June 18, the high-level videoconference on Belt and Road international cooperation was held in Beijing under the theme ‘Belt and Road International Cooperation: Combating COVID-19 with Solidarity’. Read more

    INTERNATIONAL NEWS

    Ottawa Group Recommends Actions on COVID-19, Signals Continued Interest in WTO Reform

    IISD: The Ottawa Group, comprised of 13 World Trade Organization (WTO) members, has released a statement outlining six action areas to focus on in light of COVID-19. Formed in the wake of the Ottawa Ministerial on WTO Reform, held 24-25 October 2018, the Group seeks to address specific challenges that are putting the multilateral trading system under stress. Read more

    Liam Fox and Peter Mandelson compete to be next world trade chief

    The Sunday Times: Ministers are considering whether to nominate Liam Fox, the former international trade secretary, as Britain’s candidate to become the next head of the World Trade Organisation (WTO). Read more

    Kenya-U.S. Trade Talks to Start Next Month, President Kenyatta Says

    AllAfrica: President Uhuru Kenyatta has said the much-anticipated trade talks between Kenya and the United States of America will start on 7th July 2020. Read more

    RCEP members to keep aiming for deal this year, with hopes India will rejoin

    The Japan Times: Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement agreed Tuesday to continue aiming for a deal by the end of the year, while keeping the door open for India to return to the talks. Read more

    U.S. Still Committed to Digital Tax Talks, OECD Tax Chief Says

    Bloomberg: The U.S. is still actively participating in OECD negotiations on global digital tax rules, the organization’s top tax official said Wednesday. Read more

    USTR Lighthizer and US trade policy: Right goals, wrong strategy

    VoxEU: Joshua Meltzer argues that the Trump administration has failed to provide a coherent vision for maintaining and expanding US competitiveness in the 21st century, including through its trade policy. Read more

    China ‘interested’ in Trans-Pacific trade deal but keen to gauge Japan’s ‘attitude’ ahead of potential talks, ex-minister says

    South China Morning Post: China is keen to first understand Japan’s “attitude” before beginning formal negotiations to join the Comprehensive Progressive Trans-Pacific Partnership Agreement, according to former commerce minister Chen Deming. Read more

    COVID-19, trade war take toll on trans-Pacific volumes through April

    JOC: Total container volume carried by the top 15 lines in the US trade with Asia fell 7.2 percent through the first four months of the year, but a recent spike in imports from Asia and a cut in blank sailings this summer should stem declines going forward. Read more

    Trump threat to ‘decouple’ U.S. and China hits trade, investment reality

    Reuters: Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into a challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into China continues, and markets are wary of separating the world’s biggest economies. Read more

    Despite Economic Turmoil, Indonesia-Australia Trade Agreement Pushes Ahead

    The Diplomat: In the midst of COVID-19, an unlikely trade agreement breaks through. Read more

    ECOWAS endorse Okonjo-Iweala as DG of the World Trade Organization

    Nairametrics: The West African Regional political and economic block, the Economic Community of West African States (ECOWAS), has announced the backing of the candidature of Nigeria’s former Finance Minister, Ngozi Okonjo Iweala, as the Director-General of World Trade Organization (WTO). Read more

    The WTO’s Fall from Grace: Disputes About Dispute Settlement

    McGill International Review: The future of the World Trade Organization (WTO) has come under recent scrutiny, with its Director General (DG), Roberto Azevêdo, announcing plans to resign one year early. Yet the demise of the WTO has been a long-standing issue, particularly linked to the lack of support shown for the organization by one of the world’s largest economies, the United States. Read more

    Support for Brexit is collapsing as poll finds big majority of British people want to be in the EU

    Business Insider: A newly released survey found just 35% of British people supporting Brexit, with 57% wanting to rejoin the European Union. Read more

    Brexit: Angela Merkel says Britain must ‘live with the consequences’ of Boris Johnson’s decision to ditch close alignment with EU

    The Independent: Angela Merkel has said that Britain will have to “live with the consequences” of Boris Johnson’s decision to ditch Theresa May’s plans for close alignment with the European Union after Brexit. Read more

    STRAIGHT FROM THE WTO

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