Caribbean Trade Law and Development

Tag: Caribbean Trade & Development Digest

  • 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

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  • 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

    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 & Development News Digest – January 1-16, 2021

    Caribbean Trade & Development News Digest – January 1-16, 2021

    Happy New Year! Welcome to the first Caribbean Trade and Development News Digest for 2021! We do hope that you had a great start to the year so far. We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from January 1 – 16, 2021.

    WHAT’S HAPPENED IN TRADE SINCE DECEMBER 2020?

    Since our last digest was published near the end of December 2020, some major trade developments have occurred, including on the Brexit, AfCFTA and other fronts. If you missed them, then catch up on these developments in my update article here.

    REGIONAL NEWS

    Re-examining Caribbean-Chinese relations

    Global Americans: Too often, United States government officials and scholars have characterized China’s relationship with Caribbean nations as a one-way affair in which the former, as a malign foreign actor, takes advantage of the latter, a small and weak group of states. Read more

    Minister aiming to expand reach of Jamaica Blue Mountain Coffee

    Jamaica Observer: Minister of Agriculture and Fisheries Floyd Green is aiming to expand the reach of the Jamaica Blue Mountain Coffee brand internationally and increase production of coffee locally. Read more

    Yvor Nassief | The Ongoing Caricom Soap Saga – Dominican Producer Outlines Concerns With Jamaican Soap Imports & Exports

    Jamaica Gleaner: The recent press coverage of the decision by the Caribbean Community (Caricom) Council for Trade and Economic Development (COTED) that companies in Jamaica are not eligible to receive certificates of origin for their soap exports, thereby not enjoying duty-free access to Caricom, is one-sided and contains inaccuracies and misrepresentations. I seek to clarify some of these. Read more

    Royal Caribbean will offer cruises from Barbados in December 2021

    Royal Caribbean Blog: Royal Caribbean announced it will begin offering roundtrip cruises from Barbados at the end of 2021 on Grandeur of the Seas. Read more

    Guyana signs on to new trade, investment agreement with UK

    Jamaica Observer: Guyana has officially signed on to the new agreement that will govern trade and investment between the United Kingdom and the CARIFORUM group of countries following the UK’s exit from the European Union. Read more

    US takes sterner action against Exxon’s Chinese partner in Guyana, unlikely to affect local operations

    Stabroek: The Trump administration in its waning days took another swipe at China and its biggest firms yesterday including ExxonMobil’s Guyana partner, CNOOC for alleged misdeeds in the South China Sea. Read more

    Guyana, US security pact to reel in illegal fishing

    Stabroek: A defence partnership agreement was signed yesterday between Guyana and the United States and it is expected to ensure increased safeguards against illegal fishing in this country’s waters. Read more

    CARICOM could source COVID-19 vaccines from the African Union

    Jamaica Observer: The Caribbean Community (Caricom) has been offered access to approved COVID-19 vaccines from a shipment recently secured by the African Union. Read more

    Guyana holds talks on difficulties exporting agri, poultry products to T&T

    Newsroom: Guyana on Friday convened a virtual Joint Ministerial Trade and Agricultural Meeting with Trinidad and Tobago to discuss market access difficulties experienced by Guyana when exporting agricultural and poultry products to the twin-island republic. Read more

    Trinidad & Tobago manufacturers support trade ministry action on cement industry

    Trinidad Guardian: The Trinidad and Tobago Manufacturers Association (TTMA) has come out in support of recent moves by the Ministry of Trade and Industry to ensure fair trade practices in the cement industry. Read more

    Trinidad & Tobago Gov’t gets to work on reviving manufacturing sector

    Loop TT: The Ministry of Trade and Industry said it’s encouraged by emerging signs of resurgence in the manufacturing sector as noted in the Central Bank of Trinidad and Tobago’s (CBTT) December Monetary Policy Announcement. Read more

    Trade Ministry lists support for manufacturing

    TT Newsday: Government remains committed to the well-being and expansion of the local manufacturing sector as well as ongoing and future collaborations with the private sector, the Trade and Industry Ministry said in a statement on Friday. Read more

    Mondello: TT, US can start new chapter under Biden

    TT Newsday: Days ahead of the swearing-in of Joe Biden as new US president next Wednesday, outgoing US ambassador Joseph Mondello hoped TT and the US could use the change to strengthen their relationship. Read more

    New CARICOM manufacturing body gets to work

    Barbados Today: A new regional manufacturers association has been launched in the Caribbean Community (CARICOM) to help promote regional manufacturers. The founding members are the Barbados Manufacturers’ Association (BMA), the Dominican Manufacturers’ Association, the Guyana Manufacturers’ and Services Association, the Jamaica Manufacturers’ and Exporters Association, the St Lucia Manufacturers’ Association and the Trinidad and Tobago Manufacturers’ Association. Read more

    BVI loses access to EU funding

    BVI News: The BVI and other British Overseas Territories will no longer have access to any future funding for sustainable development from the European Union as the UK’s Brexit deal took effect on January 1, 2021. Read more

    Belize exports 16,000 lbs of chicken to CARICOM

    Amandala: On December 23, Belize exported its first-ever shipment of poultry products to the CARICOM region. The Ministry of Foreign Affairs, Foreign Trade, and Immigration, in partnership with the Ministry of Agriculture, announced that 16,000 pounds of chicken cuts were exported to Grenada. Read more

    INTERNATIONAL NEWS

    What Does 2021 Hold for Global Trade?

    Brink News: How will the expected economic recovery impact trade? Will the Biden administration maintain current President Donald Trump’s tariffs on China? Has globalization been fundamentally altered by the pandemic? BRINK invited Nicolas Lamp, a global trade expert based at the Faculty of Law of Queen’s University Canada, to share his thoughts on what trends to expect in 2021. Read more

    Air travel down 60 per cent, as airline industry losses top $370 billion: ICAO

    UN: The International Civil Aviation Organization (ICAO) said on Friday, that as seating capacity fell by around 50 per cent last year, that left just 1.8 billion passengers taking flights through 2020, compared with around 4.5 billion in 2019. That adds up to a staggering financial loss to the industry of around $370 billion, “with airports and air navigation services providers losing a further 115 billion and 13 billion, respectively”, said ICAO in a press statement. Read more

    Biden aims for new course on trade, breaking with Trump and Democratic predecessors

    WP: It may not take long for President-elect Joe Biden to distinguish his trade policy from his predecessor’s “America First” approach. Read more

    U.S.-China trade war has cost up to 245,000 U.S. jobs: business group study

    Reuters: U.S. President Donald Trump’s trade war with China has caused a peak loss of 245,000 U.S. jobs, but a gradual scaling back of tariffs on both sides would boost growth and lead to an additional 145,000 jobs by 2025, a study commissioned by the U.S.-China Business Council (USCBC) shows. Read more

    US-China trade war deal reaches first anniversary as bilateral mistrust hits ‘all-time high’

    SCMP: One year after signing, China lags far behind in its purchases of American goods and the trade imbalance with the US has grown. Read more

    Exclusive: UK eyes adding climate provisions in US trade talks to woo Joe Biden

    City A.M: The UK will try to add new provisions on climate change and environmental standards in US trade negotiations in a bid to woo incoming President Joe Biden. Trade secretary Liz Truss wants to build on current negotiations with the Donald Trump administration and potentially add things like enhanced protections on air pollution and corporate transparency on climate change to coax Biden’s team to the negotiating table. Read more

    Keep tariffs on China, says outgoing US trade chief

    CNA: Outgoing US President Donald Trump’s trade chief on Monday (Jan 11) urged President-elect Joe Biden to maintain tariffs imposed on China, arguing that they have shifted the balance of power in Washington’s favour. Read more

    US suspends tariffs against French goods over digital service tax

    Reuters: US had proposed tariffs on $1.3bn worth of French goods in retaliation for French tax on tech firms. Read more

    France wants suspension of ‘poisonous’ U.S.-Europe trade spat

    Financial Post: The European Union and the incoming administration of U.S. President-elect Joe Biden should suspend a trade dispute to give themselves time to find common ground, France’s foreign minister said in remarks published on Sunday. Read more

    UPDATE 1-USTR says Vietnam’s currency actions ‘unreasonable’ but holds off on tariffs

    Reuters: The Trump administration on Friday said Vietnam’s actions to push down the value of its currency are “unreasonable” and restrict U.S. commerce, but is not taking immediate action to impose punitive tariffs. Read more

    Canada’s international trade slows in weakening recovery

    Bloomberg: Canada’s merchandise trade deficit remained at historically elevated levels in November, as exports and imports slowed amid a weakening global recovery. Read more

    After months of COVID delays, African free trade bloc launches

    Al Jazeera: After months of delays caused by the COVID-19 pandemic, the African Continental Free Trade Area launches, but full implementation of the historic pact may take years. Read more

    INTERVIEW | What Africa must do to make the AfCFTA work – Trudi Hartzenberg

    African Newspage: Trudi Hartzenberg is the executive director of the Stellenbosch, South Africa-based Trade Law Centre (TRALAC), focused on improving capacity in trade governance in Africa. Hartzenberg, who currently serves on the World Trade Organization (WTO) Chairs Advisory Committee is also a member of the Committee for Development Policy (CDP), a subsidiary of the United Nations Economic and Social Council (ECOSOC). Read more

    AfCFTA: Three details to note as the largest free-trade agreement kicks off in Africa

    Face2Face Africa: Headquartered in Accra, Ghana, the African Continental Free Trade Area (AfCFTA) is now officially the largest free trade area by the number of participating countries since the founding of the World Trade Organization (WTO) in 1995. Read more

    Malawi deposits AfCFTA ratification to AU

    Xinhua: Malawi on Friday deposited its Africa Continental Free Trade Area Agreement (AfCFTA) ratification instrument to the African Union (AU) Commission as the number of African countries bound by the continental free trade pact grows. Read more

    African Business Council applauds the start of trading on the basis of the African Continental Free Trade Area (AfCFTA)

    Africa News: On 1 January 2021, at the launch of the start of trading on the basis of the AfCFTA, the Pan-African Private Sector, under the umbrella body of the African Business Council (AfBC), issued a press statement in support of this initiative. In it, the AfBC acknowledged that the start of trading under the AfCFTA presents enormous business opportunities for the Pan-African Private Sector, SMEs, Women and Youths as the continent takes this bold move towards Boosting Intra-African Trade. Read more

    UK refused deal on post-Brexit travel for musicians, says Barnier

    Politico: Amid growing uproar in the U.K. over post-Brexit travel for touring musicians, Michel Barnier, the EU’s chief negotiator, said the British government had rejected a clear offer from Brussels to carve out a special deal for performers. Read more

    UK trade minister seeks early meeting with U.S. trade czar on whisky tariffs

    Reuters: British trade minister Liz Truss said on Thursday she was seeking an early meeting with U.S. President-elect Joe Biden’s pick to be his trade czar, Katherine Tai, to discuss tariffs on Scottish whisky. Read more

    Post-Brexit customs systems not fit for purpose, say meat exporters

    BBC: UK meat exporters have claimed post-Brexit customs systems are “not fit for purpose”, with goods delayed for hours, sometimes days, at the border. Read more

    20% of UK chemicals registrations face revocation after Brexit

    Euractiv: Around 20% of registrations from UK-based companies to the European Union’s REACH chemicals database have not been transferred to EU companies and will be revoked after 31 March 2021, according to the European Chemicals Agency (ECHA). Read more

    Exclusive: European Commission battles to sell post-Cotonou deal at home

    Devex: After last month’s long-awaited “political deal” on a new agreement with 79 African, Caribbean, and Pacific countries, the European Commission is now facing another hurdle: its own member states. Read more

    EU trade official wants swift engagement with Biden on aircraft, digital taxes, WTO

    Reuters: The European Union is looking to engage quickly with the Biden administration to resolve major trade irritants, including disputes over digital taxes and commercial aircraft subsides, EU Director General for Trade Sabine Weyand said on Friday. Read more

    EU trade official wants swift engagement with Biden on aircraft, digital taxes, WTO

    Nasdaq: The European Union is looking to engage quickly with the Biden administration to resolve major trade irritants, including disputes over digital taxes and commercial aircraft subsides, EU Director General for Trade Sabine Weyand said on Friday. Read more

    Forget Brexit, the most important trade deal in 2021 is in Africa

    Euractiv: While the UK splinters away from the European Union, Africa is uniting under a landmark free trade agreement, making it one of the largest since the establishment of the World Trade Organization (WTO), writes Debisi Araba. Read more

    Interview: Global trade system reform vital to economic recovery, says Australian economist

    Xinhua: The reform of the global trade system is significant for the world’s recovery from the COVID-19 pandemic and long-term economic growth, a senior Australian economist has said. Read more

    A new administration: US sanctions trends for 2021

    GTR: A raft of new US sanctions guidance and designations made 2020 a challenging year for banks involved in trade finance, yet the overall value of financial penalties handed out was low. GTR speaks to legal experts about recent enforcement trends, the challenges facing trade finance lenders, and the likely impact of the incoming Biden administration. Read more

    China’s cross-border e-commerce plays vital role in global trade amid pandemic

    CGTN: China’s cross-border e-commerce is becoming the latest driving engine for the country’s foreign trade, which gained great momentum last year in a time of COVID-19 recessions. Read more

    Deadlines and Decisions for American Trade in 2021

    US Chamber: As the pandemic and recession hopefully begin to give way to vaccines and recovery in 2021, the U.S. Chamber’s International Affairs Division is focused on the issues that will dominate international economic policy in the months ahead. Read more

    After Trump: What Will Biden Do on Trade?

    Council on Foreign Relations: President Trump disrupted U.S. trade policy in the name of better deals. President-Elect Biden proposes a combination of stronger domestic investment and better coordination with allies. Read more

    Creative economy to have its year in the sun in 2021

    UNCTAD: Here’s why the UN has dedicated a whole year to the creative economy and its critical role in promoting sustainable development, especially in a post-coronavirus world. 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 – December 13-19, 2020 – CHRISTMAS EDITION

    Caribbean Trade and Development News Digest – December 13-19, 2020 – CHRISTMAS EDITION

    Season’s Greetings! Welcome to the final Caribbean Trade and Development News Digest for the year 2020. 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 – December 13-19, 2020.

    Thank you for your readership of this Digest over the past year and we take this opportunity to wish you and your families a very Merry Christmas and a happy, healthy and prosperous 2021!

    THIS WEEK’S HIGHLIGHTS

    With entrenched differences still existing, WTO members failed to meet their 2020 deadline for reaching an agreement on eliminating harmful subsidies for illegal, unreported and unregulated fishing which contribute to overfishing. Negotiations will continue into 2021. Read more here.

    Negotiations between the EU and UK on a post-Brexit deal will continue this Monday after another deadline (this Sunday) was missed. The talks are hung up on three main issues: fishing, ‘leveling the playing field’ and governance. Read more here.

    The UK has taken steps to formalise its independent tariff policy to be applied from January 1, 2021. Importantly, of interest to Caribbean sugar exporting countries, Britain is to allow 260,000 T of tariff-free raw sugar imports. Read more here.

    Australia has signalled it will ask the WTO to settle its dispute with China on the latter’s imposed tariffs of 80.5% on Australian barley. China, which is the largest importer of Australian barley, has justified its anti-dumping duties on Australian barley by accusing Australia of subsidising its barley farmers. Read more here.

    WHAT WE’RE READING – AMBASSADOR BERNAL’S NEW BOOK!

    Next year we will be adding a new section to the Blog entitled “What we’re reading” where we will highlight newly released books of a trade and development nature, particularly those with a Caribbean or small State focus. This week we are pleased to be reading the new book by renowned Caribbean scholar, trade expert and author Professor the Hon. Ambassador Dr. Richard Bernal entitled “Corporate versus National Interest in US Trade Policy: Chiquita and Caribbean Bananas”. In this latest book, Ambassador Bernal not only details how Chiquita Brands International was able to influence the Clinton Administration to challenge the EU on its preferential import regime for ACP bananas, but how this move was actually inimical to the US’ national security interests given the negative impact it had on Caribbean banana-exporting countries. Like his previous four books, Ambassador Bernal’s latest work is a must-read for any student or practitioner of trade policy and may be purchased here.

    REGIONAL NEWS

    FATF removes The Bahamas from the list of Jurisdictions under Increased Monitoring

    FATF: The FATF now de-lists The Bahamas from the list of Jurisdictions under Increased Monitoring. The Bahamas is therefore no longer subject to the FATF’s increased monitoring process. The Bahamas will continue to work with CFATF to improve further its AML/CFT regime. Read more

    SIB report on Belize’s economic performance

    Amandala: Merchandise exports for the period January to October 2020 totaled just over $325 million, down 9.9 percent or $35.9 million from the same period last year, when total domestic exports were valued at $360.9 million. Read more

    Dominica’s DCPS Vows To Fight On Over Caricom Soap

    Jamaica Gleaner: Dominica Coconut Products Successors Limited, DCPS, has confirmed that it is contemplating legal action to press its claim that the duty-free importation into Jamaica of noodles or chips from which soaps are made is illegal. Read more

    Trade policies top regional manufacturers’ agenda

    Stabroek: Business communities across CARICOM are likely to be waiting with bated breath to determine whether last month’s establishment of a new CARICOM Manufacturers Association (CMA) will serve as an eventual precursor to the building of sturdier bridges among member countries of the regional movement in the areas of manufacturing and trade. Read more

    Pledge for Bajan exports to bounce back

    Barbados Today: An all-out effort will be made to boost Barbadian exports in 2021, the minister for manufacturing has promised. Read more

    Visitor arrivals a fraction of “normal” seasonal arrivals, says airport official

    Barbados Today: Barbados can expect close to 20,000 visitors to fly into the island this month, significantly down from its monthly average of well over 200,000. Read more

    Inclusive tourism on the cards in Barbados

    Barbados Today: Come January next year, the Ministry of Tourism is expected to engage in a national consultation in an effort to map out a new “inclusive and sustainable” tourism product for Barbados. Read more

    UK to compensate victims of immigration scandal from the Caribbean

    Loop News Barbados: Britain will step up compensation for thousands of long-term UK residents originally from the Caribbean who were wrongly caught up in a government drive to reduce illegal immigration, officials said Monday. Read more

    Launching Paris – A CARICOM Moment of Ambition: Snapshots of Member States Nationally Determined Contributions

    CARICOM: Several Caribbean Community Member States showcased their ambitions to further address climate change at a CARICOM Moment of Ambition event held on the eve of the fifth anniversary of the adoption of the Paris Agreement, on Friday 11 December 2020. Read more

    INTERNATIONAL NEWS

    OACPS Ministers endorse new OACPS-EU Partnership Agreement, proposals on Fisheries and the EU Blacklist at 111st session of the Council of Ministers

    OACPS: Meeting virtually on 14, 15 and 17 December 2020, the Council of Ministers of the Organisation of African, Caribbean and Pacific States (OACPS) approved eight decisions and two resolutions on key issues affecting its Member States (MS) and pertaining to the administrative and financial management of the Organisation during the 111th session of the OACPS Council of Ministers. Read more

    Trump trade chief wants WTO leadership race reopened

    BBC: The US has suggested that the process to find a new Director-General of the World Trade Organization (WTO) needs to be reopened, in what would be an unprecedented move. Read more

    Legislation for the UK’s independent tariff policy

    Gov.uk: From the 1 January 2021 the UK Global Tariff will replace the EU’s Common External Tariff as the UK’s Most Favoured Nation tariff – the framework it will use to trade independently outside of free trade agreements. Read more

    U.K.’s Johnson to Visit India in January as Trade Talks to Start

    Bloomberg: U.K. Prime Minister Boris Johnson will visit India in January to try to boost ties, with talks on a free-trade agreement due to start next year. Read more

    Taking China to the World Trade Organisation plants a seed. It won’t be a quick or easy win

    ABC (Australia): Australia is reportedly ready to initiate its first litigation against China at the World Trade Organisation. China has this year taken punitive action against imports of Australian coal, wine, beef, lobster and barley. Read more

    UK and Mexico sign trade deal

    Gov.uk: The UK has today (Tuesday 15 December) signed a trade deal with Mexico, locking in tariff-free trade and other benefits for British businesses and consumers. Read more

    UK and US in talks over mini trade deal

    BBC: The outgoing US administration is in talks with the UK to try to seal a mini-deal to reduce trade tariffs, Donald Trump’s trade chief has said. US Trade Representative Robert Lighthizer told the BBC he was hopeful for a deal that could see punitive tariffs on Scottish whisky lowered. Read more

    What are Australian-style and Canadian-style Brexit trade deals?

    The Conversation: Negotiations for a post-Brexit trade deal between the European Union and the UK have been ongoing since March. Both have until the end of the Brexit transition period – December 31 – to strike a free trade deal. If no agreement is reached, the UK-EU trading partnership will be governed by World Trade Organization (WTO) rules. Read more

    WTO Members Delay Agreement on Fisheries Subsidies to 2021

    IISD: World Trade Organization (WTO) members did not conclude negotiations on an agreement on curbing harmful fisheries subsidies by the 2020 deadline. A new schedule for meetings in 2021 is being developed, with the aim of bringing “this negotiation to the finish line.” Read more

    Ban on food aid restrictions blocked at WTO

    Reuters: World Trade Organization members were at odds on Friday over a proposal that would ban countries from restricting food aid deliveries, potentially complicating the response to a feared COVID-fuelled humanitarian catastrophe next year. Read more

    We’re proud of what we’ve done, says Trump’s trade chief

    BBC: He rarely talks to the media, but mindful of the legacy of four years of ripping up the international trade system, he told the BBC he had fundamentally reoriented the trade system towards working Americans, and that President Trump’s successor would not now change this sceptical stance to slow down and reverse globalisation. Read more

    Trade deal: Hope ‘early harvest’ proposition of India will be accepted by UK, says Piyush Goyal

    Economic Times: Commerce and Industry Minister Piyush Goyal on Thursday hoped that the UK would accept India’s ‘early harvest’ proposition within the framework of a larger free trade agreement, which both the countries are working towards. Under an early harvest arrangement, two trading partners significantly reduce or eliminate customs duties on a limited number of goods with a view to promoting trade. Read more

    Mercosur debates on revising Common External Tariff

    ANBA: Brazil’s FM said in a meeting of the highest-level agency of the bloc that revising its CET is a priority and will benefit international trade and investments. Read more

    Argentina assumes temporary presidency of MERCOSUR

    Radio Cadena Agramonte: In a speech in which he opted for more and better Southern Common Market (MERCOSUR), Argentine President Alberto Fernández called today to overcome the globalization of indifference and build the universalization of solidarity. Read more

    Argentina: Mercosur will address EU environment concerns

    AP: South America’s Mercosur countries will address environmental concerns raised by the European Union that have stalled ratification of a free trade deal between the two trade blocs, Argentina’s foreign minister said Monday. Read more

    Uruguayan president warns of post-pandemic protectionism at Mercosur Summit

    XinhuaNet: Countries should be wary of turning to protectionist trade measures in a bid to shore up their pandemic-hit economies, Uruguay’s President Luis Lacalle Pou said on Wednesday. Read more

    Asean to accelerate digital integration for period of post-COVID economic recovery

    Khmer Times: To boost regional recovery in the post-COVID 19 era, Asean should accelerate its digital integration, which has the potential to generate a $1 trillion uplift in gross domestic product (GDP) by 2025, said Dr Aladdin D. Rillo, deputy secretary-general for Asean Economic Community, at an online panel. 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: