Caribbean Trade Law and Development

Tag: Caribbean Trade & Development Digest

  • Caribbean Trade & Development Digest – June 9-15, 2019

    Caribbean Trade & Development Digest – June 9-15, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 9-15, 2019! 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 TRADE HIGHLIGHTS

    UNCTAD released its World Investment Report 2019 noting that “global foreign direct investment (FDI) flows slid by 13% in 2018, to US$1.3 trillion from $1.5 trillion the previous year – the third consecutive annual decline”. Read the World Investment Report 2019.

    G20 Trade and Digital Economy Ministers for the first time met together. Read the Ministerial statement here.

    CARICOM Ministers of Foreign Affairs of the Caribbean Community (CARICOM) and the Republic of Cuba, met in Georgetown, Guyana, on June 14th, 2019, on the occasion of the Sixth CARICOM-Cuba Ministerial Meeting. Read the Declaration here.

    REGIONAL NEWS

    Joint Communique: Barbados and Ghana

    Nation News: The following Joint Communiqué was issued on the occasion of the Official Visit to Barbados by Nana Akufo-Addo, President of the Republic of Ghana.President of the Republic of Ghana, His Excellency Nana Akufo-Addo, paid an official visit to Barbados from June 14 to 15, 2019, during which he held talks with Prime Minister Mia Amor Mottley. Read more

    Ghana to help Barbados with nurses soon

    Nation News: Barbados’ acute nursing shortage could soon be a thing of the past.Thanks to the government of the Republic of Ghana, the island should soon have more than enough registered nurses to fill the void that has been a bugbear for the medical health sector for decades. Read more

    CARICOM reaffirms great value of relations with Cuba

    CARICOM Today: Even as the Caribbean Community (CARICOM) on Friday reaffirmed the great value it attaches to ties with Cuba, it reiterated its call for an immediate and unconditional end to the economic, commercial and financial embargo imposed by the United States on Cuba. Read here

    Gov’t Taking Action to Mitigate Climate Change Impacts

    JIS: Foreign Affairs and Foreign Trade Minister, Senator the Hon. Kamina Johnson Smith, says the Government is taking steps to reduce and manage the effects of climate change across all sectors through national and international partnerships. Read more

    Norway to fund mega solar farms in Guyana

    Amsterdam News: Norway’s government has approved grant aid worth $80 million to help the largest Caribbean Community nation build a number of mega solar farms to provide energy to several communities located near the jungle close to the borders with Venezuela and Brazil, officials have said. Read more

    Caribbean women entrepreneurs export ready

    MENAFM: Nineteen Caribbean female entrepreneurs have completed the WE-Xport programme, an initiative geared at helping them to start exporting or to increase exports of their products and services. Read more

    Pushing exports

    Barbados Advocate: WITH Barbados’ goods exports languishing in the region of Bds$510 million over the last two years, there is a concerted effort by the current administration to push exports to help grow the economy. Read more

    Ghana to help Guyana’s energy sector

    Demerara Waves: Ghana’s President, Nana Akufo-Addo has agreed that his country would help Guyana’s energy sector, Director-General of the Ministry of the Presidency, Joseph Harmon said. Read more

    12,000 Pounds of Mangoes Exported from Jamaica to US

    JIS: Twelve thousand pounds of mangoes were exported on Thursday (June 13) to the United States (US).The mangoes – ‘Julie’ and ‘East Indian’ – were the first set to be exported to the US in 20 years. Read more

    Jamaica Dealers Object To New Directive To Sanitise Imported Autos

    Jamaica Gleaner: The Jamaica Used Car Dealers’ Association, JUCDA, says it is strongly opposed to a new directive by the Trade Board for importers of used motor vehicles to pay a Jamaica government agent based in Japan to sanitise each auto at a cost of up to US$150 before they are shipped. Read more

    INTERNATIONAL NEWS

    India is hitting the United States with more tariffs

    CNN: India just increased tariffs on US exports, dealing another blow to fragile global trade. Read more

    Trade tensions boosted international role of euro, ECB reports

    Euractiv: Trade tensions, challenges to multilateralism and unilateral sanctions might be bad for the economy but they have helped boost the global use of the euro, the European Central Bank reported on Thursday (13 June). Read more

    Europe wants to replenish UN Green Climate Fund

    Euractiv: EU member states want to replenish a UN fund aimed at supporting developing nations cut carbon emissions and adapt to climate change, according to draft conclusions from next week’s EU summit. Read more

    Indian, Chinese officials hold dialogue to break deadlock in RCEP trade negotiations

    Hindu Business Line: In a renewed attempt to break the stalemate in the ongoing Regional Comprehensive Economic Partnership (RCEP) negotiations involving 16 countries, senior officials from India and China met in New Delhi this week to try and reach a common ground on market opening commitments. Read more

    13 RCEP nations oppose India’s strict country of origin norms

    Economic Times: India wants strict rules of origin to prevent Chinese goods from flooding the country through member countries that may have lower or no duty levels. Read more

    Trade Policy Review: Canada

    WTO: The eleventh review of the trade policies and practices of Canada took place on 12 and 14 June 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Canada. Read more

    Egypt’s exports to Africa rise $4.7B in 2018

    Egypt Today: Egypt’s exports to the African continent are expected to reach $4.7 billion in 2018, compared to$3.6 billion in 2017, with an increase of 30 percent, according to the Commercial Representative Office. Read more

    China issues new guidelines for its commercial space sector

    China Knowledge: China has introduced its first guidelines to regulate its commercial space sector in order to guide the health development of commercial space rockets manufacturing and test flights. Read more

    Customs fraud is thriving thanks to Trump’s trade war

    The Hill: As one would expect, and as Trump intended, the value of U.S. imports from China has dropped off considerably. But what may not have been anticipated is the growth in imports from other countries or, for that matter, the increased incentive to commit customs fraud. Read more

    Public Hearings on Proposed Section 301 Tariff List

    USTR: The Office of the U.S. Trade Representative (USTR) will hold public hearings from June 17 to June 21, 2019 and, the following week, from June 24 to June 25, 2019, regarding proposed tariffs on approximately $300 billion worth of Chinese products. Read more

    Rare earths give China leverage in the trade war, at a cost

    Economist: If China cuts off exports, it would hurt America but also undermine its own long-term economic goals. Read more

    No hope of avoiding tariffs in ‘no deal’ Brexit – EU’s Malmstrom

    Reuters: Supporters of Brexit are “completely wrong” if they think recourse to an obscure trade rule will stop tariffs springing up overnight if Britain leaves the European Union without a deal, EU Trade Commissioner Cecilia Malmstrom said on Friday. Read more

    Brazil asks for WTO investigation of Indonesia on poultry trade

    CNA: The Brazilian government has formally asked the World Trade Organization (WTO) to open a panel to investigate Indonesian policies on Brazil’s poultry exports, the Agriculture Ministry said on Friday. Read more

    Liam Fox warns WTO is ‘in crisis’ as businesses told to brace for no-deal Brexit

    Telegraph: The US-China trade war, industrial strife and political deadlock all threaten to overwhelm the World Trade Organization, putting the future of the institution and the system of free trade in mortal danger, Liam Fox has warned. Read more

    UK signs post-Brexit free trade deal with South Korea

    BBC: The UK and South Korea have signed an outline free trade agreement (FTA) that seeks to maintain existing trade arrangements post-Brexit. Read more

    Taiwanese companies hit by US-China trade war lured back home by Taipei

    South China Morning Post: ‘Invest Taiwan’ offers low-cost loans, help finding workers and even rent-free accommodation for firms struggling to make a profit on the Chinese mainland. Read more

    Representatives from India and Latin America Call for More Trade

    Prensa Latina: Options for enhanced economic cooperation in India and Latin America were discussed by diplomats from that region and officials of the Indian Government, banking entities and the National Federation of Chambers of Commerce and Industry. Read more

    China ready for trade talks with East Africa bloc: ambassador to Kenya

    Reuters: China is ready to negotiate a trade deal with the six-nation East Africa Community (EAC) to address Kenya’s complaints about a huge trade imbalance in favor of the Asian economic giant, China’s ambassador to Nairobi told Reuters. Read more

    EU: No strategy yet if China halts critical exports in U.S. trade war

    Reuters: The European Union on Thursday said it had no clear strategy on how to ensure continued supplies of critical raw materials if China, the world’s leading supplier of rare earth minerals, used such exports as leverage in the escalating U.S.-China trade war. Read more

    EU asks for formal consultations with Southern African Customs Union on trade in poultry

    EU: Today, the EU requested formal consultations – a first step in a dispute settlement process – with the Southern African Customs Union (SACU) over safeguard measures affecting imports of frozen chicken cuts from the EU. Read more

    No trade action against India as of now: USTR

    The Hindu: The office of the United States Trade Representative (USTR) said it had no announcement of a trade action at the moment but continued to raise market access concerns with India, reacting to media reports last week that the U.S. was considering launching a 301 probe against India. Read more

    U.S. Asks WTO to Temporarily Pause Its IP Dispute With China

    Bloomberg: The U.S. asked the World Trade Organization to suspend its dispute over China’s intellectual property practices for six months, according to a notice published Friday on the WTO website. Read more

    PM Modi slams protectionist, unilateral trade moves

    Economic Times: Prime Minister Narendra Modi on Friday criticised unilateral and protectionist decisions in trade, seeking instead a rules-based, anti-discriminatory and WTO-led inclusive system that would address the needs and aspirations of stakeholders globally. Read more

    Australian rare earth miners push development deals to counter China grip

    Reuters: Rare earth developers in Australia say they are edging closer to signing deals with new customers that would drive forward their projects amid mounting global supply concerns over the minerals that are crucial to high-tech industries. Read more

    WTO NEWS

    NEW ON CTLD BLOG

    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 subscribe to our Blog below:

  • Caribbean Trade & Development News Digest – June 2-8, 2019

    Caribbean Trade & Development News Digest – June 2-8, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 2 – 8, 2019! 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 TRADE HIGHLIGHTS

    After threatening to impose tariffs on Mexico if that country does not stem illegal migration to the US, the Trump Administration this week announced that US and Mexico have reached a deal. Read the Joint Declaration here.

    The WTO issued its Annual Report 2018, as well as its updated one page dispute settlement case summaries (1995-2018) accessible here.

    St. Vincent & the Grenadines was elected to the UN Security Council, becoming the smallest nation ever to hold a Security Council seat. Read the press release here.

    On June 6 and 7, 2019, the United States and the Caribbean Community (CARICOM) held the eighth meeting of the United States-CARICOM Trade and Investment Council (TIC). Read release here.

    The Thirty-Sixth Meeting of the CARICOM Council for Human and Social Development (COHSOD) was Thursday and Friday (June 6-7, 2019) to discuss matters in relation to Culture within CARICOM. Read here.

    REGIONAL NEWS

    Expanding China-Caribbean trade

    Barbados Today: Economic and political ties between the People’s Republic of China (China) and the Caribbean as a whole have undergone a substantial deepening in recent years. Read more

    Grenada nutmeg gets FDA approval

    Nation News: Chairman of the Grenada Cooperative Nutmeg Association (GCNA), Leo Cato says Grenada now has the opportunity to exploit the market in the United States, having recently passed inspection by the Food and Drug Administration (FDA). Read more

    Trump admin imposes new travel restrictions on Cuba, banning cruise ships

    CNN: The US announced major new restrictions on US citizens traveling to Cuba on Tuesday, blocking the most common way Americans are able to visit the island — through organized tour groups that license US citizens to travel automatically — and banning US cruise ships from stopping in the country. Read more

    Government Pursuing Programme to Facilitate Trade

    JIS: Industry, Commerce, Agriculture and Fisheries Minister, Hon. Audley Shaw, says the Government has commenced a programme of trade facilitation to increase Jamaica’s chances of global competitiveness. Read more

    Trade Information Portal to be Promoted Heavily at Diaspora Conference

    JIS: Foreign Affairs and Foreign Trade Minister, Senator the Hon. Kamina Johnson Smith, says the Jamaica Trade Information Portal (JTIP) will be promoted heavily to members of the diaspora at the upcoming Eighth Biennial Jamaica Diaspora Conference. Read more

    BP Payments to Government more than doubled last year

    Saturday Express: Though still far below 2013 levels, the country’s largest natural gas producer more than doubled its contribution to the Government coffers last year to US$360.5 million from US$148.7 million the year before, London-listed BP plc’s Payment to Governments declaration showed last week. Read more

    GRDB rejects Suriname envoy’s reported rice plague statement

    Stabroek News: The Guyana Rice Development Board today “categorically” rejected statements in Suriname’s De Ware Tijd’s, dwtonline quoting Suriname’s Ambassador to Guyana Ebu Jones as saying that an insect plague has broken out in the rice sector. Read more

    Post COTED 48: Highlights of the Agenda

    Directorate General for Foreign Trade (Belize): The 48th Regular Ministerial Meeting of the Council of Trade and Economic Development (COTED) was recently held in Georgetown, Guyana from 29th to 30th April, 2019. COTED, a collection of Trade Ministers designated by member states, is the organ of the Caribbean Community tasked with the responsibility of promoting trade and economic development in the Community. Read more

    CARICOM, Indonesia strengthen ties

    CARICOM Today: A new chapter in the growing friendship between the Caribbean Community (CARICOM) and Indonesia was opened on Friday 31 May 2019, as CARICOM Secretary-General, Ambassador Irwin LaRocque accredited a new envoy of the Southeast Asian country. Read more

    Antigua and Barbuda signs CARIFORUM-UK EPA with UK

    Antigua News Room: Antigua and Barbuda has today signed the CARIFORUM-UK Economic Partnership Agreement (EPA), the trade continuity agreement signed between the UK and a series of countries in the Caribbean on 22 March, and in the UK in April. Read more

    Gopee-Scoon pushes US investment in T&T

    The Guardian: Trade and In­dus­try Min­is­ter, Paula Gopee-Scoon is pro­mot­ing T&T’s in­vest­ment op­por­tu­ni­ties to US firms in­ter­est­ed in ex­pand­ing their busi­ness­es in the Caribbean. Read more

    Duck virus triggers poultry ban from Guyana

    Trinidad Express: Trinidad & Tobago Agriculture Minister Clarence Rambharat has announced an immediate ban on raw and cooked poultry originating from Guyana. Read more

    CDB support for regional trade facilitation initiative

    Nation News: Making regional trade easier is the goal of a recent grant which the Caribbean Development Bank (CDB) approved for the Caribbean Community (CARICOM). Read more

    Regional Ministers of Culture, Officials to meet in Guyana for COHSOD this week

    CARICOM today: The Council for Human and Social Development (COHSOD), will gathehr for its Thirty-Sixth Meeting on Thursday and Friday (June 6-7, 2019) to discuss matters in relation to Culture within CARICOM. Read more

    CARICOM-US Relations: What Of CBI?

    Jamaica Gleaner: You will recall from previous articles that the Caribbean Basin Initiative (CBI) comprises the Caribbean Basin Economic Recovery Act (CBERA) and the Caribbean Basin Trade Partnership Act (CBPTA). CBERA’s duration is indefinite, but CBPTA, which amends provisions of CBERA, will expire on September 30, 2020 and would need to be extended. Read more

    Guyana Livestock Authority Says Trinidad’s Poultry Ban ‘Ill-Advised’

    Jamaica Gleaner: A recent ban on poultry from Guyana by the Government of Trinidad and Tobago has been described as “ill-advised and premature”. Read more

    Mobile number portability for ECTEL Member States

    CARICOM Today: All member states of the Eastern Caribbean Telecommunications Authority (ECTEL), will have access to Mobile Number Portability (MNP), as of Monday. Read more

    Duty-free concessions for entertainers

    Nation News: Local entertainers have been granted duty-free concessions. Days before the official launch of Crop Over 2019, Minister of Culture, Sports and the Creative Economy, John King made the announcement at the National Cultural Foundation (NCF) this afternoon. Read more

    Guyana Agreement remembered on ACP day

    CARICOM Today: Friday, June 7, 2019 is celebrated as ACP Day. The Georgetown Agreement establishing the African, Caribbean and Pacific (ACP) Group of States was signed on Friday, June 6, 1975 in Georgetown, Guyana. Read more

    BIDC Buyers’ Programme opens doors, facilitates new opportunities for local manufacturers

    Barbados Advocate: The fourth Buyers’ Programme now in its fourth year, is being hosted by the Barbados Investment and Development Corporation in collaboration with the Barbados Manufacturers’ Association and the Caribbean Export Development Agency. It is intended to be a supporting activity for BMEX which takes place over the weekend. Read more

    ACP-EU Partnership – Group of 79 Insists On Long-Term Trade Relations

    AllAfrica: The African, Caribbean and Pacific (ACP) Group of states has recognised the importance of maintaining long-term trade relations with the European Union (EU) on the one hand, and with the United Kingdom (UK) on the other hand, which are beneficial to all stakeholders. Read more

    INTERNATIONAL NEWS

    Rare Earths Battle Looms as U.S. Aims to Counter China Export Threat

    Bloomberg: The U.S. and China are heading for a stand-off over critical minerals used in everything from washing machines to military hardware. Read more

    US sanctions on Cuba could hurt Spanish hotel operators

    Deutsche Welle: The Trump administration is imposing tougher sanctions on Cuba, a move that could have serious consequences for Spanish hotel chains operating on the island. How will it affect locals who work in the tourism industry? Read more

    African free trade – ready for the next steps?

    Deutsche Welle: Africa’s new free trade zone only exists on paper. Ministers from the 23 signatory countries are now discussing its implementation. Africa’s biggest economies are not at the table. Read more

    Canada appeals WTO ruling on U.S. lumber duties: official

    Reuters: Canada has appealed against a World Trade Organization (WTO) panel ruling in a case it lost in April that would allow the United States to use “zeroing” to calculate anti-dumping tariffs on lumber, a WTO official said on Wednesday. Read more

    Trump sees possible U.S.-UK trade deal once UK removes ‘shackles’

    Reuters: U.S. President Donald Trump said during his visit to London on Monday that the United States and Britain could soon negotiate a trade deal. Read more

    Nigel Farage to send own team to US for Brexit trade deal talks as UK ‘inferior’
    Express: Farage will pull together his own delegation and send it to Washington to strike a trade deal with the US after it “dawned on” him that the Americans have done their homework and have the upper hand in negotiations. Read more

    Argentina, Brazil say free trade accord with EU at hand

    Yahoo News: The presidents of Argentina and Brazil said Thursday that an agreement is imminent on a free trade agreement between the European Union and the South American trading bloc Mercosur. Read more

    Bill Morneau’s hasty bill to protect the steel industry carries risks

    CBC (Canada): The broad political support greasing the wheels of C-101, Finance Minister Bill Morneau’s new legislation to change Canada’s trade safeguard rules, may obscure the calculated risk the Liberal government is taking with its strategy to protect the steel industry. Read more

    U.S. tightens Venezuela oil sanctions, indicates more actions to come

    Reuters: The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions. Read more

    In Full: China’s White Paper on U.S. Economic and Trade Talks

    Bloomberg: On Sunday June 2, China released a government white paper of more than 5,000 words on its trade talks with the U.S. and Vice-Minister of Commerce Wang Shouwen held a press conference to discuss the matter that day. What follows is an English translation of the paper. Read more

    U.S. Trade Representative and the U.S. Department of Treasury respond to the “White Paper” issued by China on June 2, 2019

    USTR: The United States is disappointed that the Chinese have chosen in the “White Paper” issued yesterday and recent public statements to pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries. To understand where the parties are and where they can go, it is necessary to understand the history that has led to the current impasse. Read more

    Trade tensions have hit cargo demand in Asia, but there’s a silver lining for regional airlines, experts say

    CNBC: The ongoing trade war between the United States and China is negatively affecting air cargo demand for Asian airlines, according to the director general of the Association of Asia Pacific Airlines, a regional trade body. Read more

    There’s only a ‘very small’ chance of a no-deal Brexit, says UK’s Hammond

    CNBC: The probability of the U.K. leaving the European Union without a deal is “very small,” according to Philip Hammond, Britain’s chancellor of the exchequer. Read more

    China’s Xi says world’s multilateral trade system must be protected

    Reuters: Chinese President Xi Jinping called on Friday for world powers to protect the global multilateral trade system and said it was important to find a solution to trade disputes despite disagreements. Read more

    World trade is projected to grow 2.6 per cent in 2019: WTO

    Gulf Today: Mounting trade tensions, an increase in trade-restrictive measures and continuing economic uncertainty created real challenges for world trade in 2018, with trade projected to grow by just 2.6 per cent this year, according to the 2019 World Trade Organisation, WTO, report. Read more

    UK calls for progress in reforming global trade rules at G20

    Gov.uk: Dr Liam Fox, International Trade Secretary, is attending the G20 Ministerial meeting on Trade and Digital Economy in Tsukuba, Japan this weekend (Saturday 8 to Sunday 9 June). Read more

    G20 finance chiefs to warn of trade risks, but differ on how ‘pressing’ they are

    CBC (Canada): Global trade tensions threaten an expected pick-up in economic growth this year and in 2020, a draft communiqué by the world’s financial leaders showed on Saturday, but the policymakers were divided on whether the need to resolve them was “pressing.” Read more

    G20 ministers agree on guiding principles for using artificial intelligence

    Japan Times: Ministers from the Group of 20 major economies Saturday kicked off two days of meetings on trade and the digital economy, during which they agreed on guiding principles for using artificial intelligence. They also faced another round of discussions likely to highlight divisions over trade issues such as reform of the World Trade Organization. Read more

    EU to propose workaround to avoid U.S. block on WTO judges: document

    Reuters: The European Union is set to propose creating a shadow system to get around a U.S. block on appeals in disputes at the World Trade Organization (WTO), according to a draft proposal circulated to national lawmakers. Read more

    Canada endorses plan to stop Trump administration from disrupting WTO: trade minister

    Global News: Canada’s trade minister is endorsing a European Union plan to prevent the Trump administration from paralyzing the World Trade Organization’s dispute-settlement body later this year. Read more

    India may oppose efforts to seal trade deal at G20 meet

    Livemint: Attempts by the US, Japan and Australia to finalize a new trade deal, scrapping curbs on data flows, at the G20 trade ministers’ meeting in Japan this weekend, could prompt a push-back from India and other developing countries. Read more

    Trump says U.S. and Mexico reach last-minute deal to avoid tariffs

    CBS: Mexico has agreed to U.S. demands that it tighten its borders to stop the flow of illegal Central American immigrants from coming into the U.S. through mexico. The deal suspends steep tariffs on imported Mexican goods that were to go into effect on Monday. Read more

    Trade Tensions Worry Ship Operators

    Wall Street Journal: Global ship operators that normally begin the summer preparing for peak shipping season instead are bracing for a surge in tariffs. Read more

    Trump: Britain’s NHS should be ‘on the table’ in trade deal talks

    Al Jazeera: On the second day of his state visit to the United Kingdom, Trump also said the National Health Service (NHS) should be included in any post-Brexit trade deal with the US. Read more

    WTO NEWS

    • Women's access to international markets to be spotlighted at MC14 high-level event
      by WTO
      A high-level event on women and trade will be held on the margins of the 14th WTO Ministerial Conference in Yaoundé, Cameroon, on 25 March to bring together women entrepreneurs, development partners and WTO members. Registration for the event – which will feature the work of the WTO Informal Working Group on Trade and Gender, […]
    • Members endorse draft MC14 decision on boosting small economies' participation in trade
      by WTO
      WTO members agreed on 17 February on a draft decision for approval at the 14th Ministerial Conference (MC14) in March on improving the integration of small economies into the world trading system. Adopted at a meeting of the Committee on Trade and Development's Dedicated Session on Small Economies, it is the first draft decision to […]
    • Members discuss new approaches, share experiences on reforming fossil fuel subsidies
      by WTO
      At a meeting on 16 February, WTO members participating in the Fossil Fuel Subsidy Reform (FFSR) initiative continued exploring new approaches to reforming fossil fuel subsidies and examining the effects of subsidies provided to emissions-intensive sectors. Members reaffirmed the importance of enhancing transparency through greater information and experience sharing.

    NEW ON CTLD BLOG


    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 subscribe to our Blog below:

  • Caribbean Trade & Development News Digest – May 26 – June 1, 2019

    Caribbean Trade & Development News Digest – May 26 – June 1, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of May 26 – June 1, 2019! 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 TRADE HIGHLIGHTS

    The Africa Continental Free Trade Area (AfCFTA) went into effect on May 30, 2019! Read more here.

    The Trump Administration has threatened to impose tariffs on goods imports coming from Mexico unless the latter stops illegal immigration through its border. Read more

    The US also removed Turkey and India from eligibility from the US Generalised System of Preferences (US GSP) which accords non-reciprocal preferential access to the US market for certain goods imports from eligible developing countries.

    REGIONAL NEWS

    New catfish export regulations for discussion with US officials

    Stabroek News: The Fisheries Department of the Ministry of Agriculture is to discuss new regulations to enable Guyana to resume exporting catfish, with the US Food Safety and Inspection Service (FSIS) this week. Read more

    ‘Unknown’ forces siphoning gold out of Guyana

    Stabroek: Activities in the mining sector and the corresponding production levels do not match the amount of gold being declared to the Guyana Gold Board (GGB) and the entity has begun to go into the mining districts to buy the precious metal while also tightening up security measures for exports. Read more

    Imports down by a little, exports up by a lot, says Statistical Institute of Belize

    Breaking Belize News: Belize’s imports were down while exports were up by 80% for the month of April, according to the latest data released by the Statistical Institute of Belize (SIB). Read more

    Government to assess the economic impact of Vincy mas

    OECS Business News: The government of St. Vincent and the Grenadines will assess the economic impact of Vincy Mas, the nation’s annual festival in now in progress. Read more

    CARICOM chairman speaks out on corresponding banking

    Jamaica Observer: The chairman of the Caribbean Community (CARICOM), Prime Minister Dr Timothy Harris says one the biggest economic and financial challenges facing the 15-member grouping is the practice engaged by the large global commercial banks to terminate their corresponding banking services. Read more

    As exports decrease and imports increase, Holness urges investors not to give up on Caricom

    Jamaica Observer: The Jamaican Government has said it would support investors in their quest to penetrate the Caribbean Community (Caricom) market, which it said “sometimes can be a more difficult market than exporting to Nigeria and Mauritius”. Read more

    PM Urges CARICOM Pushback – Says Jamaican Businesses Shafted By Trade Partners

    Jamaica Gleaner: Seeking to bolster the confidence of Jamaican businesses eager to deepen their export footprint across the Caribbean, Prime Minister Andrew Holness urged investors to push back at perceived structural or cultural barriers to trade by regional partners. Read more

    Labour reform: Foreign companies must give locals top positions to operate in BVI

    BVI News: Investors who establish new businesses in the British Virgin Islands will soon be required to grant their company’s senior management positions to BVIslanders/Belongers. Read more

    CARICHAM requests Extension of CBERA

    Dominica Vibes: The Network of Caribbean Chambers of Commerce (CARICHAM) is pleased to announce that we have submitted a letter to the United States International Trade Commission (USITC) on 28 May 2019, requesting an extension of the Caribbean Basin Economic Recovery Act (CBERA) and Caribbean Basin Trade Partnership Act (CBTPA). Read more

    Divisions in CARICOM ‘suicidal’

    Barbados Today: A prominent champion of regional integration has waded into the debate over the Caribbean Community’s position on the political unrest in Venezuela, with a warning to regional leaders that “fragmentation is suicidal”. Read more

    Caricom sugar producers want less extra-regional imports

    Jamaica Observer: Regional sugar producers are making an urgent appeal for policy changes to address the large amounts of extra-regional sugar being consumed in Caribbean Community (Caricom) member countries. Read more


    INTERNATIONAL NEWS

    Canada begins process to ratify USMCA trade deal

    Washington Examiner: Canadian Prime Minister Justin Trudeau formally introduced legislation to his country’s parliament Wednesday to ratify the U.S.-Mexico-Canada Agreement on trade. Read more

    U.S. President Donald Trump terminates preferential trade status for India under GSP

    The Hindu: A day after a group of journalists was told that India’s access to preferential trade terms under the U.S.’s Generalized System of Preferences (GSP) was on its way out, U.S. President Donald Trump issued a proclamation ending the trade benefits effective June 5. Read more

    ‘The US has backtracked’: China releases official document blaming America for the trade war

    CNBC: China took a firm official stance against the United States on trade on Sunday, issuing a white paper that illustrates a widening gap between the two sides. Read more

    US ends special trade treatment for India amid tariff dispute

    BBC: The US will end preferential trade status for India next week, President Donald Trump has confirmed amid a deepening row over protectionism. Read more

    Trump Defends Trade Moves, Says Tariff Is ‘a Beautiful Word’

    Bloomberg: Self-professed “Tariff Man” President Donald Trump on Saturday defended his decisions to impose or raise levies against imports from Mexico and China, respectively, saying “companies are moving to the U.S.” to avoid paying the levies, and that “TARIFF is a beautiful word indeed!” Read more

    China to release blacklist of US firms as trade war intensifies

    Al Jazeera: On Saturday, China raised tariffs up to 25 percent on $60bn of US imports. Read more

    WTO NEWS

    NEW ON CTLD BLOG

    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 subscribe to our Blog below:

  • Caribbean Trade & Development News Digest – May 19-25, 2019

    Caribbean Trade & Development News Digest – May 19-25, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of May 19-25, 2019! 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 TRADE HIGHLIGHTS

    On the Brexit front, the biggest, but not entirely shocking news for the week was the announcement by UK Prime Minister Theresa May that she will be stepping down from office on June 7, 2019. Her full resignation speech may be viewed here.

    The OECD in its latest Economic Outlook noted the impact of the global trade tensions on the global economy. Access the press release and the report here.

    Looking regionally, Trinidad & Tobago this week underwent its 4th WTO Trade Policy Review. Read more here.

    REGIONAL TRADE NEWS

    Barbados approves importation of medical cannabis

    Caribbean News Now: The ministry of health and wellness has approved five medicinal marijuana drugs submitted by the drug formulary committee to be placed on the National Drug Formulary. The drugs will be imported by the Barbados Drug Service. Read more

    Grenada real estate resale changes spur CBI market freehold, leasehold, trust certificates qualify for resale

    Caribbean News Now: The government of Grenada’s re-alignment of the minimum investment requirement for the real estate option (for certain developments) of the country’s citizenship by investment (CBI) program from US$350,000 to US$220,000 has spurred the market, say experts. Read more

    Caribbean leaders will lead on climate resilience – PM Mitchell in CNN opinion

    CARICOM Today: Grenada and other Small Island Developing States are on the front line in the war against climate change. Although hurricanes are no stranger to the Caribbean, the overwhelming scientific evidence of how extreme weather conditions are worsening due to global warming shows that we need to take the signals that our Earth is sending us seriously. Read more

    BELTRAIDE hosts 1st SHEMentors Networking Event

    Breaking Belize News: The Belize Trade and Investment Development Service (BELTRAIDE) through support from the Regional Center of Promotion for MSME (CENPROMYPE) is hosting a women’s mentorship networking event today in Belize city. Read more

    Minister of Trade speaks on expansion of Freezone

    LoveFM: The Corozal Freezone has not really been the “talk of the town,” and, in fact, is in dire need of some TLC. The Freezone has not been forgotten, however, as there are big plans in the making to not only expand but also to revamp it. Minister of Trade, Tracy Taegar-Panton, met with the Freezone’s board of director last Friday, and today, she told us more about what was discussed. Read more

    EU Statement at the 4th Trade Policy Review of Trinidad and Tobago, 22 May 2019

    EU: On behalf of the European Union I would like to welcome Trinidad and Tobago’s Delegation, led by H.E. Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry and the Discussant, H.E. Mr. Michael Gaffey (Ireland), for his introductory words. Read more

    Trade and Industry advocates for small economies at the WTO

    MTI: Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon expressed a need for the World Trade Organisation (WTO) to adopt a pragmatic approach that takes due cognizance of the unique issues of Small and Vulnerable Economies (SVEs). Read more

    Stop The Wto ‘Scare Tactics’

    Tribune242: Carey Leonard, the former Grand Bahama Port Authority (GBPA) in-house counsel, told Tribune Business there was plentiful evidence from elsewhere in the Caribbean to prove that small businesses and ‘Mom and Pop’ stores “will not be wiped out” upon this country becoming a World Trade Organisation (WTO). Read more

    Exporting Caribbean fashion

    Newsday: Young fashion designers from TT, Grenada, Jamaica, Antigua and Barbuda, Barbados, St Lucia and Tortola – to name a few – have been brought together for the Fashion and Contemporary Design Accelerator, which participants said left them feeling empowered and ready to contribute to building a stronger regional fashion industry. Read more

    UNCTAD holds training in Belize

    LoveFM: The United Nations Conference on Trade and Development, UNCTAD, is in the country holding a one-week workshop to assist with the implementation of the Trade Facilitation Agreement. The Trade Facilitation Agreement will provide for a smoother and more efficient movement of goods. Read more

    Jamaica representing the Caribbean in global food fraud fight

    Loop Jamaica: Jamaica is the only Caribbean country to be included in an International Atomic Energy Agency (IAEA) five-year research project that is geared at assisting countries in combatting fraud in high-value food products, such as premium honey, coffee and speciality rice varieties. Read more

    Over 42,000 Caribbean nationals overstayed their non-immigrant US visas

    Caribbean News Now: Acting Homeland Secretary, Kevin Mc Aleenan revealed that over 42,000 Caribbean nationals from across the region overstayed their non-immigrant visas and stayed in the US between October 2017 and September 2018. This figure is contained in the US Department of Homeland Security’s (DSH) fiscal year 2018 entry/exit overstay report. Read more

    US Senators submit act to facilitate agricultural exports to Cuba

    Caribbean News Now: US Senators John Boozman and Michael Bennet submitted a draft bill to remove restrictions to private financing for US agricultural exports to Cuba. Read more

    Building Bonds

    Barbados Advocate: The Association of Barbados-China Friendship (ABCF) has been launched in an effort to create and strengthen the bond between Chinese and Barbadians. During the launch, which took place at the Hilton Resort Barbados on Thursday night, President of the ABCF Dr. Delisle Worrell noted that it is a “people-centred organisation with an emphasis on facilitating personal contacts between Barbadians and Chinese”. Read more

    Region lags global shipping trends

    Barbados Today: Barbados and the Caribbean appear to be lagging behind most of the world in using the global postal system’s Express Mail Service (EMS) to boost exports through e-commerce and small package deliveries, experts said here today. Read more

    INTERNATIONAL NEWS

    Rare Earths, the U.S.-China Trade War and Your Phone

    Washington Post: U.S. President Donald Trump’s threat to cut off the supply of chips and processors to Huawei Technologies Co. is hitting China’s biggest tech company where it hurts – its dependence on other nations for the semiconductors and software in smartphones and networking gear. So when Chinese President Xi Jinping showed up days later at a rare earths processing plant, many observers saw a message in the visit: the U.S. has its own tech vulnerabilities, too. Read more

    EU-ACP Pleased With Negotiations For Successor To Cotonou Agreement

    Jamaica Gleaner: The European Union says a new accord to replace the Cotonou Agreement that currently governs its relationship with the African, Caribbean and Pacific (ACP) Group is “taking shape”. Read more

    79-Nation Group’s Head Explains Vital Tasks Ahead Until ACP-EU Accord Expires

    IndepthNews: As talks progress on future relations between 79 African, Caribbean and Pacific (ACP) Group of States and the European Union in the aftermath of historic Cotonou Agreement due to expire in February 2020, Secretary-General Dr. Patrick Ignatius Gomes has spelt out vital tasks ahead. Read more

    Nigeria to Join Africa Free Trade Zone, Trade Minister Says

    Bloomberg: Nigeria will sign the Africa Continental Free Trade Agreement as soon as President Muhammadu Buhari approves an impact-assessment report he asked for, the country’s trade minister said. Read more

    The Impact of US-China Trade Tensions

    IMF Blog: US-China trade tensions have negatively affected consumers as well as many producers in both countries. The tariffs have reduced trade between the US and China, but the bilateral trade deficit remains broadly unchanged. Read more

    National Consultative Forum On the African Continental Free Trade Area – Experts to Discuss Corruption and the Challenge of Economic Transformation in Southern Africa

    All Africa: The Economic Commission for Africa Office for Southern Africa (ECA-SA) in partnership with the Ministry of Commerce, Trade and Industry, African Union Commission (AUC), are co-organising a National Consultative Forum; “National Consultative Forum on the African continental free trade area: Opportunities and Challenges for Zambia” from 23rd – 24th May 2019, at Mulungushi Conference in Lusaka, Zambia. Read more

    EU WARNED: Brussels told to be READY for no deal Brexit – ‘Britain will do just fine!’

    Express: THE European Union has been warned if it does not renegotiate the Brexit deal then Britain will instead “thrive and prosper” under a no deal scenario, political commentator Nile Gardiner has warned. Read more

    The world’s biggest shipping company warns Trump’s China tariffs are hammering global trade

    Business Insider: AP Moller-Maersk warned the recent escalation of the trade war could push growth in global container trade to the lower end of its forecast of 1% to 3% for 2019. Read more

    What next for Brexit Britain as May announces resignation as PM?

    Al Jazeera: The country’s future and whether or not it will leave the EU are thrown into further uncertainty after May resigns. Read more

    One-third of EU firms hit hard by US-China trade war

    Deutsche Welle: The ongoing trade tensions between the world’s two largest economies and tit-for-tat tariffs have adversely affected the fortunes of many European companies in China, a new survey reveals. The outlook remains gloomy. Read more

    EU trade tsar on US: ‘We hope we don’t impose tariffs on each other’

    Euronews: As EU-US trade ties remain shaky under the constant threat of tit-for-tat tariffs and rumblings of a trade war, Euronews sat down with EU trade tsar Cecilia Malmstrom to talk about the state of play. Read more

    EU, China, Thailand seek to join WTO consultation over India’s ICT products tariff
    Business Today: According to a communication of EU, China, and Thailand to the World Trade Organisation (WTO), these countries claimed that they have a substantial interest in the trade of information and communication technology (ICT) goods and in joining the consultation process. Read more

    US-China trade war hurts workers with lower salaries the most, WTO director says

    CNBC: An intensifying trade war between the U.S. and China is negatively impacting every country in the world, according to the director-general of the World Trade Organization (WTO), with workers earning lower salaries most likely to be hit the hardest. Read more

    Dispute over WTO reforms could paralyse it, says Canada
    Business Live: Absence of US and China at the latest round of talks to renew the world trade body dashes hopes of urgent action. Read more

    India on US watch list for currency practices

    Economic Times: The US has added India to its monitoring list for currency practices and macroeconomic policies, alleging undervaluation in its currency. Read more

    China’s coming slowdown opens doors to expanding African trade with India

    The Africa Report: Charles Robertson, chief economist at Renaissance Capital, argues that slower Chinese growth will not necessarily be detrimental for Africa, as Indian trade and investment is likely to increase. Indian demand for raw materials is likely to benefit the Democratic Republic of Congo (DRC), Guinea and Zambia, he says. Read more

    India reports trade deficit with 11 RCEP members in FY 2018-19

    Business Standard: The trade gap with Brunei, Japan, and Malaysia has increased to $0.5 billion, $7.1 billion and $3.8 billion, respectively in the last fiscal. It was $0.4 billion, $6.2 billion and $3.3 billion in 2017. Read more

    Malaysia to strengthen trade, investment ties with Brazil

    Malay Mail: Malaysia and Brazil will continue to focus on expanding bilateral trade and investment ties.This is alongside the possibility of having a free trade agreement between Malaysia and Mercosur, an economic and political bloc comprising Argentina, Brazil, Paraguay and Uruguay. Read more

    Canada, U.S. reach deal to continue pork trade if swine fever is detected

    Global News: In the event of an outbreak of African swine fever in Canada or the U.S., pork products from disease-free areas will still be allowed to flow across the border.An agreement reached between the two countries is intended to limit the economic impact of a possible outbreak of ASF, an illness that has led to the deaths of a million pigs in China but has not been detected in Canada or the U.S. Read more

    Mexico’s Lopez Obrador says confident USMCA will be ratified

    Reuters: Mexico’s President Andres Manuel Lopez Obrador said on Thursday he was confident the United States-Mexico-Canada-Agreement would be ratified, increasing trade in the North American region. Read more

    Turkey halves tariffs on 22 US imports to reciprocate Washington move

    Daily Sabah: Turkey has decided to reduce additional duties on some U.S. imports in response to a similar United States move to halve tariffs on Turkish steel imports, the trade minister said on Wednesday. Read more

    Chinese AI firms hunker down as reports indicate they are next on US export hit list

    The Edge Markets: iFlytek executive Hu Yu may have spoken too soon, when he made a positive comparison of his company to Huawei Technologies during a new product launch in Shanghai earlier this week. Read more

    WTO NEWS

    LATEST CTLD BLOG POSTS

    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 subscribe to our Blog below: