Caribbean Trade Law and Development

Tag: Caribbean Trade & Development Digest

  • Caribbean Trade and Development News Digest – October 25 – October 31, 2020

    Caribbean Trade and Development News Digest – October 25 – October 31, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of October 25-31, 2020! For October, we are going pink for Breast Cancer Awareness Month! 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 big news this week was that although WTO members indicated a strong preference for candidate from Nigeria, Dr. Ngozi Okonjo-Iweala, to lead the WTO, the US blocked Dr. Okonjo-Iweala’s selection who is also ironically a naturalised US citizen. The USTR’s statement objecting to Dr. Okonjo-Iweala’s appointment, while confirming support for candidate South Korea Trade Minister Yoo Myung Hee, can be viewed here. Therefore, as this Bloomberg report notes, the WTO DG race’s fate now depends on the outcome of Tuesday’s US presidential election.

    The 41st Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) was held virtually on 29 October 2020. The items discussed included COVID-19’s impact on the region, a Caribbean Economic Recovery and Transformation (CERT) Plan, EU blacklisting, a regional tourism policy, inter alia. Read the full communique here.

    Happening this week: Americans officially go to the polls to vote for their next president. A record over 90 million Americans and counting have already cast their ballot in early voting or by mail-in ballot. Read my article on why this election cycle is particularly important for the Caribbean here.

    Regionally, St Vincent and the Grenadines will be holding their elections this week on November 5. On October 31, St. Kitts & Nevis becomes the latest and one of the last Caribbean countries to re-open its borders. Read more here.

    Last week I also had the pleasure and honour of being a panelist at the Barbados International Business Association (BIBA) Global Business Week Conference on the panel entitled “New Opportunities for trade to and from Barbados“. Thank you to the organizers, excellent moderator and awesome fellow panelists for what was a very stimulating session.

    REGIONAL NEWS

    UN SG Calls For A Vulnerability Index For CARICOM

    News Americas Now: Secretary General of the United Nations, António Guterres, is calling for a multidimensional vulnerability index that will help CARICOM countries. Read more

    Cuba Says US Sanctions Have Caused Nearly $5.6B In Losses

    Jamaica Gleaner: Cuba said Thursday that the island has lost nearly $5.6 billion in one year as a result of economic sanctions imposed by US President Donald Trump. Read more

    High interest in intra-regional travel

    Barbados Advocate: Persons eager to visit countries within’ the bubble’, says travel advisor. Country Manager of Going Places Travel Barbados, Alana Gray, says there have been many enquiries for travel within the travel bubble. Read more

    Multilateral financial institutions have failed Caribbean countries: Robinson

    Barbados Advocate: University of the West Indies (The UWI) economist, Dr. Justin Robinson, has lashed out at the multilateral financial institutions, saying that they had failed small countries just when they require financing to get out of their present predicament. Read more

    First ship to arrive at Bridgetown Port on Sunday

    Barbados Today: Barbados will this weekend welcome its first cruise passengers since the global suspension of cruise in March this year. Read more

    Barbados International Business Sector showing resilience

    Barbados Advocate: The International Business and Financial Services sector, despite the current COVID-19 pandemic, is demonstrating its resilience by performing reasonably well under the current circumstances. Read more

    Jamaica earns US$250M from Tourism for June to September period

    Jamaica Star: Minister of Tourism, Edmund Bartlett has disclosed that Jamaica has earned just over US$250 million since the island’s borders reopened in June. Read more

    Guyana sets new oil discovery record – now the largest new conventional liquids play in the last decade

    Kaieteur News: The Yellowtail-2 and Redtail discoveries which were made in July and September respectively have pushed Guyana’s recoverable estimate to approximately nine billion oil equivalent resources. In light of this development, Guyana is now the largest new conventional liquids play in the last decade says Senior Vice President at ExxonMobil, Jack Williams. Read more

    Guyana Gov’t negotiating with CARICOM on better export market access for farmers

    Stabroek: In a bid to assist local farmers access regional export markets, the Guy-ana government is in discussions with the Carib-bean Community (CARICOM) in hopes of securing the relaxation or removal altogether of what it sees as some rigid non-tariff measures on local food produce, Minister of Agriculture Zulfikar Mustapha has said. Read more

    ‘CARICOM Bubble’ statistics being monitored to evaluate COVID-19 cases

    St Kitts & Nevis: St. Kitts and Nevis has the intends to participate in the Caribbean Community (CARICOM) Bubble and has been monitoring what is happening in the eight participating territories, says Chief Medical Officer Dr. Hazel Laws, speaking at the National Emergency Operation Centre (NEOC)/Border Reopening Press Briefing on October 28. Read more

    CARICOM divided on Venezuela at OAS assembly

    NY Carib News: Caribbean Community (CARICOM) countries were divided on the issue of “free and fair” elections in Venezuela, with The Bahamas, Haiti, Jamaica, and St Lucia all voting in favor of the resolution tabled at the 50th General assembly of the Organisation of American States (OAS) that ended here on Wednesday. Read more

    CARICOM establishes regional Food Security Task Force

    Loop Barbados: The Caribbean Community (CARICOM) has sought to address the region’s concerns about food security through the establishment of a Food Security Task Force. Read more

    Trinidad & Tobago Govt pushing female entrepreneurs

    Trinidad & Tobago Express: Trinidad & Tobago is the first country in the Caribbean to officially launch SheTrades, an initiative of the International Trade Centre (ITC), which is now part of a community of over 25 countries working towards connecting over three million women entrepreneurs to global markets by 2021. Read more

    Western Union to close in Cuba following new US sanctions

    Jamaica Observer: US-based money transfer company Western Union will close its offices in Cuba following new sanctions from Washington which prevent it from working with Fincimex, a financial company run by the island’s military, Havana said yesterday. Read more

    RUBiS enters petrochemical export market

    Jamaica Observer: RUBiS Energy Jamaica Limited recently dispatched the island’s first export shipment of petrochemicals — a move which sees the country becoming the first in the region to undertake such a venture due to its terminal and storage infrastructure. Read more

    Caribbean Export and WIRSPA partner on the Absolutely Caribbean Virtual Expo

    EU Reporter: Caribbean Export Development Agency (Caribbean Export) and the West Indies Rum & Spirits Producers Association (WIRSPA) are working together to support increased trade of rum and spirits between the Caribbean and Europe with the Absolutely Caribbean Virtual Expo, scheduled for 17-18 November. Read more

    ACS States with new Secretary-General

    Prensa Latina: Panamanian Rodolfo Sabonge began his four-year term of office as Secretary-General of the Association of Caribbean States (ACS) ‘under circumstances we never thought we would meet. Read more

    TT second largest regional supplier of medical products

    Newsday: A UNITED Nations (UN) country database shows that TT was the second largest supplier of medical products to other countries in the region after export restrictions from major suppliers created issues accessing critical medial supplies throughout the region. Read more

    Adjustments needed to the way we negotiate partnerships, says Marshall

    Barbados Today: One senior economist is calling for a review of how Barbados and other Caribbean states negotiate trade agreements with more developed nations. Dr Don Marshall, Director and Senior Research Fellow at the Sir Arthur Lewis Institute for Social and Economic Studies (SALISES), said the time had come for small island developing states to raise issues relating to their vulnerabilities and other developmental concerns when discussing partnerships. Read more

    INTERNATIONAL NEWS

    CBI chief fires parting shot over slow pace of Brexit negotiations

    BBC: Carolyn Fairbairn says the UK economy is in ‘suspended animation’ while issue remain unresolved. Read more

    Brexit talks making good progress, says Ursula Von der Leyen

    The Guardian: European commission president says key issues are level playing field and fisheries. Read more

    Brexit deal hangs in the balance, says EU council president

    The Guardian: Outcome of next two weeks of talks crucial but uncertain, says Charles Michel. Read more

    Chatham House speech: Liz Truss sets out vision for values-driven free trade

    Gov.uk: International Trade Secretary Liz Truss delivers the keynote speech at Chatham House’s ‘Global Trade Live’ event setting out her vision for UK trade policy. Read more

    Liz Truss: NHS ‘off the table’ in Brexit talks with US

    City AM: International trade secretary Liz Truss has insisted the NHS remains “off the table” in post-Brexit trade talks with the US, as the government scrambles to shore up relations with presidential hopeful Joe Biden ahead of next week’s election. Read more

    Trump’s phase one trade deal with China and the US election

    PIIE: President Donald Trump has staked a claim to success in his trade war with China on his phase one trade agreement of January 2020. In his self-proclaimed “historic” deal, China committed to purchasing an additional $200 billion of American-made goods and services over 2020 and 2021. Trump has even boasted that the deal “could be closer to $300 billion when it finishes.” Read more

    US moves closer to expanding tech export controls list as competition with China for future technology builds

    South China Morning Post: Commerce Department moves closer in seeking industry input to identify, define and set criteria for technology that will be subject to export controls. Read more

    Thailand expresses full support for WTO reforms

    The Guardian: Thailand has voiced full support for the World Trade Organization’s (WTO) reforms to make the intergovernmental body aware of trade situations and that would enable it to accelerate the global economic recovery following the pandemic. Read more

    A Biden Win Could Renew a Democratic Split on Trade

    NY Times: Democrats have been unified by their desire to oust President Trump. But if that happens, deep divisions on the issue of trade are likely to reappear. Read more

    China has a golden opportunity to show global leadership, with a WTO fisheries deal

    South China Morning Post: China is a fishing superpower. If Beijing is truly committed to a rules-based multilateral trading system, it must show leadership in securing a meaningful WTO agreement to tackle global fishing subsidies and curb overfishing. Read more

    EU strengthens trade enforcement arsenal with revamped regulation

    EU: Today, the European Commission, the European Parliament and the Council reached a political agreement on reinforcing the EU’s Enforcement Regulation. As part of the agreement, the Commission committed to developing the EU’s anti-coercion mechanism swiftly. Read more

    Trump Trade Policy Gets Failing Grades

    Forbes: Donald Trump may believe his trade agenda is a success, but a new analysis gives his administration’s trade policies poor marks. The analysis finds the Trump administration’s policy of raising tariffs and misusing U.S. trade laws have harmed consumers, disrupted supply chains and failed to achieve objectives that are important to the United States. Read more

    Biden Or Trump, Next 4 Years For Canada-U.S. Trade Will Be ‘Bumpy’

    Huffpost: Protectionism is rearing its head again in the United States, leaving the Trudeau minority government to figure out ways to work with an unpredictable neighbour. Read more

    Canadian Ambassador to U.S. says there is no justification to change border restrictions

    CTV: Canada’s Ambassador to the United States Kirsten Hillman said there is no justification to ease the Canada-U.S. land border restrictions any time soon. Speaking to CTV’s Power Play on Friday, Hillman stressed that either country is not prepared to loosen border restrictions before 2021. Read more

    What would a Joe Biden presidency mean for a UK-US post-Brexit trade deal?

    iTV: With the US presidential election days away, focus is shifting to what priorities the winner will have during their four years in power at the White House. Read more

    Cruz, Cornyn Complain to Trump That Mexico Is Undermining USMCA

    Bloomberg: US senators Cruz and Cornyn sent a letter to President Trump arguing that Mexico’s energy policy undermines the spirit of the USMCA trade agreement. Read more

    African trade finance banks urge MDBs to take on greater levels of risk

    Global Trade Review: Trade finance executives across Africa are urging multilateral development banks (MDBs) to “intervene decisively” and boost credit support to banks on the continent as a potential insolvency crisis looms. Read more

    S. Korea, Mongolia to lower tariffs starting 2021 under regional trade pact

    Korea Times: South Korea and Mongolia will lower tariffs on some products starting next year, as Ulaanbaatar joined a regional trade pact known as the Asia-Pacific Trade Agreement (APTA), Seoul’s finance ministry said Friday. Read more

    China-Mongolia trade to benefit from Mongolia’s APTA membership

    Xinhua: China and Mongolia are expecting lower tariffs in bilateral trade after Mongolia’s recent accession to the Asia-Pacific Trade Agreement (APTA), China’s Ministry of Commerce said Monday. 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 – October 4-10, 2020

    Caribbean Trade and Development News Digest – October 4-10, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of October 4-10, 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.

    THIS WEEK’S HIGHLIGHTS

    The next WTO Director-General will be female! Nigeria’s Dr. Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee are the two finalists for selection as the organisation’s seventh DG. Read more here.

    The EU foreign investment screening mechanism is operational. In March 2019, the EU had adopted a regulation setting up a framework for the screening of investments from non-EU countries (foreign direct investment) that may affect security or public order and will apply as of October 11. Read the full press release here.

    CARICOM has released a statement strongly condemning the EU’s inclusion of some CARICOM States on its blacklist of non-cooperative tax jurisdiction.

    REGIONAL NEWS

    Trinidad & Tobago Govt, Caricom to help service sector

    Newsday: In order to better assist the recovery of regional service industries during the pandemic, the Ministry of Trade and Industry will partner with Caricom to develop a strategy for the recovery of the service sector, according to acting permanent secretary Ayleen Alleyne-Ovid. Read more

    Trade survey assesses exports services sector

    LoopTT: Trinidad and Tobago is, now more than ever, closer to obtaining accurate data on trade to improve the sector. This is as a result of a recent survey executed by the Arthur Lok Jack Global School of Business. Read more

    Cuba says it’s contained coronavirus outbreak, plans to open for tourism next week

    CNBC: Thirteen of Cuba’s sixteen provinces will now be open to tourism as the country says it’s successfully curbed coronavirus infections with strict measures and a curfew. Read more

    Accelerating trade between Jamaica and China now possible

    Jamaica Observer: Trade between Jamaica and China is to be accelerated with the launch of the Jamaica China Business Forum (JCBF), which aims to increase exports between the two countries. Read more

    Caribbean Trade Legislation Passes U.S. Senate

    Caribbean National Weekly: Legislation which extends the United States-Caribbean Basin Trade Partnership Act (CBTPA) through 2030, passed the U.S. Senate last month by unanimous consent,” the Guyana-based Caribbean Community (CARICOM) Secretariat reported. It said HR 991 passed the House on September 23 and the “legislation will come into force when signed by President Donald Trump. Read more

    Standards for nutrition labels coming

    Barbados Today: By the end of this month, officials are expected to decide on long-awaited standards for front nutrition labels on locally and regionally manufactured food and drink products. Deryck Omar, Chief Executive Officer of the CARICOM Regional Organization for Standards and Quality (CROSQ), said the time was quickly approaching for the organisation to receive the draft document from the technical team. Read more

    Standards and quality still important

    Barbados Today: Barbados and other Caribbean Community (CARICOM) states are being warned that now is not the time to “slack” on investment in quality and standards, even as they seek to cut back on spending as a result of the COVID-19 pandemic. Read more

    DDA introduces ‘Safe in Nature’ brand concept for Dominica’s tourism industry

    Dominica News Online: In its continuing efforts to uphold the national protocols for safeguarding both locals and visitors, the Discover Dominica Authority (DDA), alongside the Ministry of Tourism and stakeholders in that sector, has introduced the ‘Safe in Nature’ brand concept. Read more

    Statistical Institute of Belize: Export revenues fall by over 15 percent between January and August

    Breaking Belize News: Тhе lаtеѕt Ехtеrnаl Тrаdе Вullеtіn (ЕТВ), рublіѕhеd bу thе Ѕtаtіѕtісаl Іnѕtіtutе оf Веlіzе, ѕауѕ thаt Веlіzе mаdе 15.7 реrсеnt ($46.9 mіllіоn) lеѕѕ іn ехроrt rеvеnuеѕ fоr thе mоnthѕ Јаnuаrу-Аuguѕt 2020, thаn fоr thе ѕаmе реrіоd іn 2019. Read more

    JAMPRO Seeks Greater Support for Export Max

    JIS: President of Jamaica Promotions Corporation (JAMPRO), Diane Edwards, is appealing for more private-sector companies to partner with the entity in executing the Export Max programme. Read more

    Taiwan, Belize sign pacts on trade, legal assistance and aviation

    Focus Taiwan: Taiwan and Belize have reached three separate agreements to promote and strengthen their diplomatic ties through bilateral cooperation in the fields of trade, legal assistance and aviation. Read more

    UK appoints new trade envoy to the Caribbean

    Jamaica Observer: Britain’s Prime Minister, Boris Johnson, has appointed Darren Henry as the new trade envoy to the Commonwealth Caribbean. A British government statement said that the Commonwealth Caribbean markets will include Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St Lucia, St Vincent and the Grenadines, St Kitts and Nevis and Trinidad and Tobago. Read more

    Building Post COVID CARICOM Food Security – A Cassava Industry

    Stabroek: These difficult months of the COVID pandemic have once more brought to the fore the need to address our long term food security. Our accessibility to food has been disrupted as incomes have decreased due to reduced formal and informal employment opportunities. Read more

    INTERNATIONAL NEWS

    China faces ‘difficult trade-off’ as WTO leadership race heads into final round

    South China Morning Post: The field of candidates to lead the World Trade Organization (WTO) was cut to two on Thursday, in a historic move that means the Geneva-based body will get its first female director general. Read more

    China says U.S. TikTok, WeChat bans break WTO rules

    Reuters: China said at a World Trade Organization meeting that restrictions by the United States on Chinese mobile applications TikTok and WeChat are in violation of the body’s rules, a trade official said. Read more

    Brexit: Trade negotiators meet, as deadline looms

    BBC: EU chief negotiator Michel Barnier has met his UK counterpart in London for the latest round of talks on their post-Brexit trading relationship. Read more

    UK statement to the WTO Committee on Government Procurement

    Gov.uk: The UK’s Ambassador to the WTO in Geneva, Julian Braithwaite, delivered this statement at the WTO’s Committee on Government Procurement. Read more

    EU and UK teams pin hopes on ‘tunnel’ talks to deliver Brexit deal

    The Guardian: British and EU Brexit negotiators have renewed belief that the bloc’s leaders will be able to usher in an intense and decisive “tunnel” negotiation for the last weeks of October when they meet at a summit in Brussels on Thursday. Read more

    Brexit: EU and UK in choppy waters over fishing rights

    France24: Fishing rights have been one of the main sticking points in Brexit negotiations between the European Union and the United Kingdom since March. Yet neither side appears ready to concede, despite mounting fears within the fishing industry over the consequences of a “no-deal” exit. Read more

    Post-Brexit: Britain and EU agree to pursue ‘mini-deals’ if talks fail next week

    The Times: British and EU negotiators have agreed to keep talking to offset the most disruptive aspects of a no-deal Brexit even if trade negotiations break down. Read more

    Britain open to Aussie-style EU trade deal but Australia wants more

    Reuters: As Britain’s negotiations with the European Union on a post-Brexit trade deal go down to the wire, Prime Minister Boris Johnson says his country could trade with the bloc on similar terms to Australia, if no agreement is reached. Read more

    UK and Ukraine sign Political, Free Trade and Strategic Partnership Agreement

    Gov.uk: The agreement will ensure ambitious cooperation in political, security and foreign matters with Ukraine, while also securing continued preferential trade for businesses and consumers. Read more

    Cambodia-China Free Trade Agreement to be signed by Monday during Chinese State Councilor’s visit

    Khmer Times: Wang Yi, State Councilor and Minister of Foreign Affairs of the People’s Republic of China, will pay an official visit to the Kingdom of Cambodia on October 11-12, 2020. Read more

    Turkey-US trade volume improves despite COVID-19 pandemic

    Daily Sabah: A free trade agreement between Turkey and the U.S. would mutually liberalize trade in certain sectors and give a boost to bilateral ties, Deputy Trade Minister Rıza Tuna Turagay said, as the two NATO allies move toward their $100 billion trade goal. 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 – September 13-19, 2020

    Caribbean Trade and Development News Digest – September 13-19, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of September 13-19, 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.

    THIS WEEK’S HIGHLIGHTS

    And then there were five! The race for who will be the next Director-General of the World Trade Organization (WTO) has narrowed from eight candidates to five: Amina Mohamed (Kenya), Ngozi Okonjo-Iweala (Nigeria), Mohammad Maziad Al-Tuwaijri (Saudi Arabia), Yoo Myung-hee (South Korea), and Liam Fox (The United Kingdom).Read more here.

    A WTO dispute settlement panel found that additional tariffs imposed in 2018 by the US on Chinese goods contravened the US’ obligations under international trading rules. Read the panel report here. The WTO’s latest Services Barometer shows “modest gains in some key sectors, suggesting a degree of resilience in the face of the pandemic”. Read more here.

    Regionally, US Secretary of State Michael Pompeo made a state visit to Guyana this week where he also met with the Secretary-General of the Caribbean Community (CARICOM), H.E. Irwin LaRocque. The renewal of the Caribbean Basin Trade Partnership Act (CBTPA), due to expire at the end of this month, was among the topics discussed during the meeting. Read more here.

    REGIONAL NEWS

    Pompeo asks Suriname, Guyana to favour US business over China

    Al Jazeera: Pompeo becomes the first US secretary of state to visit the two South American states where oil was recently discovered. Read more

    CARICOM SG raises economic fallout from pandemic with Pompeo

    Stabroek: The severe economic fallout from the COVID-19 pandemic on CARICOM countries was one of the issues raised yesterday by Secretary-General Irwin LaRocque with visiting US Secretary of State, Mike Pompeo. Read more

    OECS Foreign Ministers Discussed Blacklisting Of Tax Havens By European Union

    St Kitts Nevis Observer: The meeting addressed issues of critical concern to the Organization and its Member States including key developments in the international arena; the ongoing negotiations between the Organization of African, Caribbean and Pacific States (OACPs) and the European Union (EU) on a new Agreement post-Cotonou; blacklisting of States as “non-cooperative tax jurisdictions” by the European Union, BREXIT and its implications for Cariforum/UK Trade and Economic Relations; and strategic joint diplomatic and commercial engagement in specified jurisdictions. Read more

    Caribbean countries record 50 per cent decline in visitor arrivals in first six months of 2020

    Jamaica Observer: Caribbean countries have recorded a 50 per cent decline in tourist arrivals up to the month of June this year, a senior official of the Caribbean Tourism Organisation (CTO) said earlier this week. Read more

    Barbados to establish diaspora unit and four new embassies

    BGIS: The Diaspora Unit, according to Dame Sandra, will be a platform for advancing Barbados’ economic interests abroad through the Barbadian diaspora and Friends of Barbados communities, which were described as under-used assets with regard to their networks, skills and resources. Read more

    Why Congress Needs to Renew Caribbean, GSP Trade Programs Now

    US Chamber: Washington is no stranger to “must pass” legislation, and the end of the fiscal year on September 30 and the recent lapse in several pandemic response measures rightly command congressional attention. But lawmakers should not overlook the need to renew two soon-to-lapse trade programs that support American jobs: The Caribbean Basin Trade Partnership Act (CBTPA) and the Generalized System of Preferences (GSP). Read more

    Jose Mai: Time to put agriculture first in Belize

    Breaking Belize News: Веlіzе ѕhоuld lооk tо Мехісо fоr а раrtіаl ѕсоре аgrееmеnt оn ехроrt, аnd tаkе аdvаntаgе оf оur раrtnеrѕ tо rеbuіld аgrісulturе thrоugh аn ехраndеd рrоgrаm іn ѕсhооlѕ. Read more

    Gov’t Pledges To Put Brakes On JSWIFT Hiccups

    Jamaica Gleaner: The Ministry of Industry, Investment and Commerce, in responding to a Gleaner article about the Jamaica Single Window for Trade (JSWIFT) published on Tuesday, said the portal will soon become much swifter. Read more

    Cuba shuts down interprovincial transportation due to new COVID-19 fears

    Reuters: Cuban state media reported on Saturday interprovincial transportation would be shut down and a curfew in Havana extended until the end of the month as a surge in COVID-19 cases in the capital spreads to other areas. Read more

    INTERNATIONAL NEWS

    Brexit: NI told to start work on checkpoints at sea ports

    BBC: A letter from the UK government to Stormont’s Agriculture Department instructs it to start work on check-points at NI’s sea ports without delay. The letter, seen by BBC News NI, says it is critical checks are in place, stating such moves are in accordance with the Northern Ireland protocol. Read more

    Biden or Trump, no guarantee of a post-Brexit U.S.-UK trade deal

    Reuters: U.S. presidential candidate Joe Biden’s recent warning that Britain must honor Northern Ireland’s 1998 peace agreement to secure a U.S. trade deal adds new complexity to already tough trade talks between the United States and the U.K. Read more

    Tariff showdown with Trump a shallow victory for Canada

    Niagara Falls Review: Donald Trump’s decision to cancel tariffs on Canadian aluminum imports is a short-term win for Ottawa. In the long run, however, it is anything but. Read more

    A brewing U.S.-China tech cold war rattles the semiconductor industry

    CNBC: As trade tensions mount between the U.S. and China, the U.S. semiconductor industry fears a tech cold war could disrupt the global supply chain. Now companies on both sides of the Pacific are trying to develop strategies to mitigate risk — whether it’s hoarding supplies or looking at shifting the location of production facilities. Read more

    How Will the Coronavirus Pandemic Permanently Change the Travel Trade?

    TravelPulse: As with all monumental global events, the coronavirus pandemic will create permanent change throughout the world, including the travel advisor community. Read more

    U.S. calls off tariffs on Canadian aluminum — for now

    CBC (Canada): The United States hit the pause button on tariffs on Canadian aluminum today, agreeing to withdraw current penalties — at least until after the presidential election in November. Read more

    US companies seeking tariff relief faced red tape, delays

    AP: Companies seeking relief from President Donald Trump’s taxes on imported steel and aluminum ran into long delays and cumbersome paperwork, a federal watchdog found. Read more

    Global service trade decline shows signs of bottoming out – WTO

    Reuters: A contraction in global trade in services caused by the COVID-19 pandemic is showing signs of bottoming out, the World Trade Organization said on Thursday as its trade barometer index fell to a record low. Read more

    Top UN economists warn of crises of our own making if global ‘megatrends’ left unchecked

    UNCTAD: Five human‑made “megatrends” will continue to dominate and frustrate global efforts to put the world on a more sustainable and prosperous path, unless urgent policy interventions to influence them are taken now, the UN Economist Network warned today in a new report. Read more

    Nigeria working to attract more foreign direct investments to prepare for AfCFTA – Trade Minister

    Nairametrics: Nigeria’s Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said that Nigeria is actively working to attract more foreign direct investments into key industries to meet the demands of the African Continental Free Trade Area (AfCFTA). Read more

    Zimbabwe: Rules of Origin Key to Success of AfCFTA

    AllAfrica: The protocol of trade in goods is comprised of 32 articles and nine annexes in the Africa Continent Free Trade Agreement (AfCFTA). Annex 2 of the protocol of trade in goods focuses on rules of origins and is complemented by various appendixes. Read more

    Ghanaian businesses need support to ‘win’ under AfCFTA – AGI

    Ghanaweb: Business setbacks such as high cost of power, access to capital, among others, remain a concern for Ghanaian industries, and if the government wants to “win” with the African Continental Free Trade Area (AfCFTA), it needs to ensure businesses are supported to become competitive, the Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Cleanse Akpeloo, has said. Read more

    Mauritania Finalizes AfCFTA Implementation Strategy

    AllAfrica: The Ministry of Trade, Industry and Tourism of the Islamic Republic of Mauritania and the ECA Office in North Africa will hold today in Nouakchott (Mauritania) a workshop to validate the national strategy for the implementation of the African Continental Free Trade Area (AfCFTA). Read more

    Ukraine, Turkey restart free trade agreement talks

    MENAFM: Ukraine and Turkey have restarted the negotiation process on signing a free trade agreement. Read more

    Most Canadians don’t understand trade deals, but support free trade: report

    iPolitics: Survey findings released by the federal government suggest Canadians have little understanding of their country’s international trade agreements, including the recently negotiated United States-Mexico-Canada Agreement (USMCA). Read more

    Do the WTO and the 1972 Free Trade Agreement guarantee Swiss access to the EU market?

    Swissinfo.ch: The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading. Read more

    India engaging with ASEAN to review FTA: Piyush Goyal

    Financial Express: In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Read more

    France says opposes EU-Mercosur trade deal over deforestation concerns

    Buenos Aires Times: France opposed to free-trade deal in its current form due to “major” concerns about deforestation in the region, the government said on Friday. 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 – August 30 – September 5, 2020

    Caribbean Trade and Development News Digest – August 30 – September 5, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of August 30-September 5, 2020! We are back from our vacation hiatus and happy to once again bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    So what has happened while we were on break? The term of World Trade Organization (WTO) Director General (DG) Robert Azevedo ended on August 31, 2020 following his announcement in May that he would be stepping down from the post a year early.

    The race for his successor is heating up and each of the candidates is making the rounds trying to make the case for why he or she is the best candidate to head the beleaguered WTO.

    The US and EU came to an agreement in which the EU will eliminate tariffs on imports of U.S. live and frozen lobster products and the US will reduce by 50% its tariff rates on certain products exported by the EU worth an average annual trade value of $160 million. Read the full joint statement here.

    The WTO has issued a call for papers for its new WTO Trade Economist Thematic Award. Trade experts at universities in developing countries are invited to submit case studies on the impact of the COVID-19 pandemic on trade and trade policy. The deadline is September 30, 2020. Read more here.

    This week, the US House Ways and Means Committee will hold a remote hearing to consider the renewal of the Caribbean Basin Trade Partnership Act (CBTPA).

    REGIONAL

    AAFA, trade bodies urge USTR to support CBTPA renewal

    Fibre2Fashion: The American Apparel & Footwear Association (AAFA) along with a dozen other trade bodies recently urged US trade representative Robert E Lighthizer to support Congress to renew the Caribbean Basin Trade Partnership Act (CBTPA) as soon as possible. The act, which celebrated its 20th anniversary on May 18 this year, is set to expire on September 30. Read more

    UNCTAD 15 to benefit Barbados

    Barbados Today: Barbadians are set to reap benefits from the upcoming United Nations Conference on Trade and Development (UNCTAD) 15 scheduled to take place next April. Read more

    Barbados to open embassy in Ghana

    Nation News: Minister of Health and Wellness, Lt Col Jeffrey Bostic, announced on Monday that Barbados has established an embassy in Ghana and the opening is scheduled for October. Read more

    Important Issues for CARICOM SIDS Highlighted at Ministerial Round Table

    Barbados Today: His Excellency Simon Stiell of Grenada has shared a number of important issues for CARICOM Small Island Developing States (SIDS) to be addressed as COP26 approached. The issues were shared with the Incoming COP President and his team at a Ministerial Roundtable between CARICOM Ministers and the Incoming President of the 26th United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP 26), on Thursday 27th August 2020. Twelve CARICOM Ministers attended the meeting. Read more

    Development Bank of Jamaica to assist medium-sized companies through innovation grant fund

    Jamaica Observer: The Development Bank of Jamaica (DBJ) has embarked on the implementation of a new product, the Innovation Grant Fund, to provide financial support for medium-sized companies looking to introduce or expand innovative processes, products, and/or services. Read more

    Belize to export another 241 head of cattle to Mexico

    Вrеаkіng Веlіzе Nеwѕ: ВВN hаѕ соnfіrmеd thаt ѕоmе 241 hеаd оf саttlе hаvе bееn lоаdеd іntо thrее truсkѕ іn thе vіllаgе оf Вluе Сrееk, Оrаngе Wаlk Dіѕtrісt, аnd аrе оn thеіr wау fоr ехроrt tо Мехісо. Read more

    BelizeINVEST is calling all invest service providers to join its new network

    Breaking Belize News: ВеlіzеІNVЕЅТ, а unіt оf thе Веlіzе Тrаdе аnd Іnvеѕtmеnt Dеvеlорmеnt Ѕеrvісе (ВЕLТRАІDЕ), іѕ саllіng оn іnvеѕtmеnt ѕеrvісе рrоvіdеrѕ асrоѕѕ Веlіzе tо јоіn ВЕLТRАІDЕ’ѕ Іnvеѕtmеnt Ѕеrvісеѕ Nеtwоrk (ВІЅN). Read more

    INTERNATIONAL

    Brexit: PM sets 15 October deadline for EU trade deal

    BBC: Prime Minister Boris Johnson is expected to say that if no agreement on trade between the EU and UK can be reached by 15 October both sides should “accept that and move on”. Read more

    UK Government announces new Board of Trade

    Gov.uk: The Department for International Trade has today (Friday 4 September) announced its new advisers to the Board of Trade, comprising of senior figures from business, academia and government. Read more

    Tony Abbott: Ex-Australian PM appointed UK trade adviser

    BBC: Former Australian Prime Minister Tony Abbott has been appointed as an unpaid trade adviser to the UK government. Boris Johnson rejected claims Mr Abbott was not suitable for the role, despite criticism over past comments on women, LGBT people and climate change. Read more

    Brexit: This week is ‘moment of reckoning’ for UK-EU trade deal with two sticking points remaining – Raab

    Sky News: David Frost, who will lead the UK’s post-Brexit trade talks, will meet EU chief negotiator Michel Barnier in London next week. Read more

    United Kingdom to quit Brexit trade-deal talks if no agreement with European Union by October 15

    ABC (Australia): British Prime Minister Boris Johnson has warned Britain could walk away from post-Brexit trade talks with the European Union within weeks ahead of the next crucial round of discussions. Read more

    US trade deficit soars to 12-year high

    The Hill: The trade deficit in July spiked 18.9 percent to $63.6 billion, the highest since July 2008 during the Great Recession, according to Commerce Department data released Thursday. Read more

    As WTO Members Prepare to Name a New Chief, We Must Remember the Lessons of Years Past

    IISD: It has now been seven years since the World Trade Organization (WTO) saw its top leadership position change hands and, as expected, who will be the next head of the Geneva-based institution has become the talk of the trade community. Read more

    As Roberto Azevêdo Jumps Ship from WTO to Pepsi, What Legacy Does he Leave Behind?

    The Wire: Azevedo has claimed success on issues like a Trade Facilitation Agreement aimed to cut through delays in trade. But on his watch, the WTO also failed to conclude the Doha Development Agenda. Read more

    WTO Outlines Relationships between Cross-border Mobility, COVID-19, and Global Trade

    IISD: The World Trade Organization (WTO) has issued an information note that articulates how temporary border closures and travel restrictions associated with the COVID-19 pandemic have affected goods and services trade. Read more

    Lacalle Pou says EU-Mercosur deal ‘advances’ but not at ‘expected speed’

    Buenos Aires Times: Uruguayan leader’s comments just the latest in a series indicating that momentum for the accord has slowed. Read more

    Low-Key EU Player’s New Job May Help Sell Mercosur Deal

    Bloomberg: A month before he resigned as European Union trade commissioner over an Irish coronavirus controversy, Phil Hogan made a much less publicized job announcement: appointing the first person to police the bloc’s slew of commercial agreements with the rest of the world. Read more

    Brazil/Argentina spat over non automatic import licenses delaying Mercosur bilateral trade

    Mercopress: Brazil expressed its disenchantment with the Argentine policy of delaying the approval of the so-called nonautomatic import licenses which has seen millions of dollars in sales held at the border. This situation has been increasing in recent months, in what is considered a breach of bilateral accords in the framework of Mercosur agreements, and the World Trade Organization, WTO, rules. Read more

    Top envoy says US preparing tighter oil sanctions on Venezuela

    Al Jazeera: US President Trump has ramped up sanctions on Venezuela’s state-run PDVSA, its key foreign partners and its customers. Read more

    Taiwan and US move closer to Bilateral Trade Agreement

    Nikkei Asian Review: Taiwan President Tsai Ing-wen addressed one of the primary irritants in the U.S.-Taiwan trade relationship last week by relaxing regulations on pork imports containing the steroid ractopamine. Read more

    Japan and Britain delay agreement on post-Brexit trade pact

    Japan Times: The Japanese and British governments stopped short of reaching a broad accord on a new bilateral trade deal on Friday, citing the need for further negotiations on how to handle Japanese tariffs on British blue cheese. Read more

    Africa: Duty-Free Imports Sought by U.S. Apparel Makers Would Vitiate Africa Trade – Agoa Coalition Warns Congress

    AllAfrica: The following letter was sent by the Agoa Action Coalition to the chairman of the U.S. House Ways and Means Subcommittee on Trade Earl Blumenauer (Democrat-Oregon), as well as the chairman of the full committee, Richard Neal (Democrat-Massachusetts) and ranking Committee member Kevin Brady (Republican-Texas), and ranking Trade Subcommittee member Vern Buchanan (Republican-Florida). Read more

    Africa Trade Pact’s Architects Seek to Help Offset Tariff Losses

    Bloomberg: Architects of an Africa-wide free-trade area are in talks with the African Export-Import Bank to set up an adjustment facility to offset revenue losses for countries that lower cross-border tariffs, according to the zone’s most senior official. Read more

    Turkey’s push to win over the Maghreb: The gateway to Africa

    The Africa Report: For several years, the Turks have been working to strengthen their ties with Algiers, Tunis and Rabat. This strategy is all the more crucial since Recep Tayyip Erdogan has engaged his country on several fronts in the region. Read more

    Covid-19 hits East African agri value chains

    African Business: As the African Green Revolution Forum (AGRF) kicks off on September 8, agriculture and food security will take the spotlight. While agriculture provides food and income security to more than half of the population in developing countries, the opportunities are mostly low paying with poor working conditions. Read more

    Pacific island countries band together to increase export quality

    EIF: Trade ministers in the Pacific approve the region’s first strategic framework on Quality Infrastructure. Read more

    India’s  virus  woes hit imports more than its exports

    Livemint: Between Apr and Jul, the goods imports have fallen by 46.7% to $88.9 bn. In comparison, goods exports during the same period have fallen at a much slower pace of 30.3% to $74.9 bn. Why have exports fallen at a much slower pace than imports? Mint takes a look. Read more

    India-Bangladesh trade halts after exporters allege corruption

    The Telegraph: Disruption in the trans-border trade for 2 consecutive days has resulted in a loss of nearly Rs 20 crore. Read more

    STRAIGHT FROM THE WTO

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