(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) The fiftieth meeting of the Council for Trade and Economic Development (COTED) this week approved a strategy for the re-opening of economies in the Caribbean Community (CARICOM). The Council which is made up of Trade Ministers and officials agreed to a framework centered on the development and adherence to defined metrics related to the Covid-19 virus, which will guide in the reopening process.
The strategy recommends a graduated model which sees governments relaxing restrictions in a deliberate, phased and incremental manner based on the transmission risk profile of the pandemic in specified geographical locations, sectors or businesses.
The framework suggests establishing a national public private consultative mechanism to govern the relaunch of economic activity at the Member State level; minimum standards which must be attained before relaxation of restrictions and communications to build public trust. There is also the proposal for Certificates of Operation to be issued to businesses that have been verified to be compliant in the protocols established for the industry.
The fiftieth meeting of COTED held virtually yesterday, 6 May 2020 was chaired by the Grenada Minister of Economic Development, Trade, Planning and Labour, the Honourable Oliver Joseph; with Ministerial representation from most CARICOM Member States. The Premier of Montserrat, the Honourable Joseph E. Farrell also attended the meeting as well as representatives from the public and private sectors.
PHOTO CAPTION: Chair of COTED, Grenada’s Minister of Economic Development, Trade, Planning and Labour, the Honourable Oliver Joseph.
Welcome to the Caribbean Trade & Development News Digest for the week of April 19-25, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.
THIS WEEK’S HIGHLIGHTS
The fifteenth session of the UNCTAD Ministerial Conference (UNCTAD 15), which was to be held in October this year in Barbados, has become the latest trade conference to be postponed in the midst of the COVID-19 pandemic. Official word of this came from the Barbados Government this week which can be read here.
The USMCA will go in effect on July 1, 2020. Read more
The CARICOM Secretariat’s live blog on CARICOM Member States and Associate Members’ figures in relation to the COVID-19 pandemic may be accessed here.
REGIONAL NEWS
COVID-19 to cause biggest economic contraction ever in Latin America & Caribbean
UN: The COVID-19 pandemic will herald the worst economic contraction in the history of Latin American and the Caribbean, with a projected -5.3 per cent drop in activity this year, according to a report by the UN office for the region, ECLAC, published on Tuesday. Read more
Talking Exports: How Caribbean Export Will Support Region’s Private Sector through COVID-19
CARICOM: The COVID-19 pandemic will have a significant impact on the private sector and economies globally. The economic slowdown will severely affect MSMEs, as they suffer from the impact of government decreed shutdowns, supply chain disruption and demand contraction. Read more
Measures agreed upon to allow travel between Guyana, Suriname
CARICOM: Some new ground rules have been agreed to by both Guyana and Suriname on travels between the two neighbours, in light of the novel Coronavirus, COVID-19 pandemic. Read more
IICA will assist the Caribbean to boost trade in goods and agricultural information exchange, as well as to strengthen food security
St Lucia News Online: Thirteen Caribbean Ministers of Agriculture participated in a videoconference with the Director General of the Inter-American Institute for Cooperation on Agriculture (IICA), in which they discussed strategies to bolster agricultural activity and to safeguard the food supply amidst the ongoing health crisis, in a region that relies heavily on food imports and on tourism. Read more
INTERNATIONAL NEWS
Govt sees GDP, investment boost if joins CPTPP trade pact
Bangkok Post: Thailand could expect a boost to its economic growth, investment and exports to help offset the negative impact of the new coronavirus pandemic if it participates in an Asia-Pacific trade agreement, the commerce ministry said on Monday. Read more
Covid-19 response: New Zealand and Singapore launch initiative to ensure free flow of essential goods
New Zealand Government: New Zealand and Singapore today launched a new trade initiative to ensure supply chain connectivity and the removal of blockages to trade in a list of essential products that includes medicines, medical and surgical equipment. Read more
WTO and IMF heads call for lifting trade restrictions on medical supplies and food
IMF: As our members grapple with their response to the global health and economic crisis, we call for more attention to the role of open trade policies in defeating the virus, restoring jobs, and reinvigorating economic growth. Read more
80 countries are hoarding medical supplies – here’s why it damages the global response to COVID-19
WEF: Eighty countries and customs territories have banned or limited the export of face masks, protective gear, gloves and other goods to mitigate shortages since the coronavirus outbreak began, the World Trade Organization reported on Thursday. Read more
New USMCA trade pact to go into effect on July 1
Financial Post: U.S. Trade Representative Robert Lighthizer on Friday said he has notified Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than initially proposed. Read more
U.S. should avoid phased approach in trade talks with Kenya: Chamber of Commerce
Reuters: The United States should work to achieve a single, comprehensive agreement with Kenya that removes barriers to trade and investment, instead of pursuing a phased approach, the U.S. Chamber of Commerce said in a document viewed by Reuters. Read more
The AfCFTA Gets Locked Down for the Year
AllAfrica: The African Continental Free Trade Agreement (AfCFTA) has become the latest in the many casualties of the devastating coronavirus pandemic which has so far infected over 2.7 million people and killed more than 191 000 globally. In Africa the toll is over 27 000 cases and 1 298 deaths. Read more
UK will need to extend Brexit transition, Merkel ally warns Britain
The Guardian: Boris Johnson must extend the UK’s transition out of the EU for up to two years to avoid compounding the economic damage of the coronavirus pandemic with a hugely disruptive and disorderly Brexit, according to a close ally of Angela Merkel. Read more
Argentina to Exit Mercosur Trade Talks to Focus on Problems at Home
New York Times: Argentina has decided to withdraw from ongoing trade negotiations with South American trade bloc Mercosur as it turns its focus on the growing economic crisis at home, the bloc said in a statement late on Friday. Read more
Mercosur: Argentina only interested in block’s negotiations with Europe
Mercopress: In the midst of the chaotic situation caused by the pandemic, the Argentine government announced the abandonment of Mercosur negotiations to prioritize the country’s domestic economy and the struggle against the virus. Read more
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:
March 18, 2020 was a historic day for the Caribbean Court of Justice (CCJ) when it delivered its first Advisory Opinion since its establishment.
Inter alia, the CCJ is empowered with exclusive jurisdiction under the Revised Treaty of Chaguaramas to deliver advisory opinions concerning the interpretation and application of the RTC.
For a background to the opinion, please see a previous article I co-authored with Dr. Jan Yves Remy here. In brief, the background surrounded a request by two Caribbean Community (CARICOM) Member States (Antigua & Barbuda and St. Kitts & Nevis) to opt-out of a decision of the Conference of Heads of Government to expand the categories of skilled nationals entitled to move and work freely across the Community to include security guards and agricultural workers. The opt-outs were subsequently granted by the Conference to these two Member States for a period of 5-years.
The Court was asked by the Community to render an Advisory Opinion on whether (1) a Member State could lawfully opt out of the decision of the Conference expanding the categories of persons entitled to move and work freely in the Community; and (2) whether the principle of non-reciprocity would enable nationals of the opting out Member States to still derive the benefits accruing under the enlargement decision.
In its Advisory Opinion, the Court has opined that freedom of movement of skilled nationals is a ‘fundamental objective’ of the Community, but that the 5-year opt-out granted by the Conference of Heads of Government to the two Member States from the enlargement decision is not prejudicial to this fundamental objective.
It also opined that non-reciprocity applied so other Member States must still allow Antiguan/Barbudan and Kittian/Nevisian security guards and agricultural workers access to their labour markets.
Read the full Advisory Opinion here and the summary here.
Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant. You can also read more of her commentaries at www.caribbeantradelaw.comand follow her on Twitter @LicyLaw.
DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.
Welcome to the Caribbean Trade & Development News Digest for the week of February 17-22, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.
THIS WEEK’S HIGHLIGHTS
Heads of Government of the Caribbean Community (CARICOM) held their 31st Intersessional Meeting in Barbados February 18-19, 2020. The Prime Minister of Barbados, the Honourable Mia Amor Mottley, Q.C; MP, chaired the proceedings. The communique from the meeting may be found here.
To watch the press conference concluding the 31st Intersessional Meeting please see here:
REGIONAL NEWS
Barbados unveils one-stop investment guide
UNCTAD: As Barbados prepares to host the 15th UNCTAD quadrennial conference in October, it has become the latest Caribbean country to launch an online investment guide (iGuide). Read more
WTO advocate argues Bahamas never to join
Bahamas Tribune: A prominent World Trade Organisation (WTO) advocate yesterday said he doubts The Bahamas will ever join, adding: “You can lead a horse to water but can’t make it drink”. Read more
Minister: No Wto Membership ‘For At Least Five Years’
Bahamas Tribune: A Cabinet minister yesterday said full Bahamian membership of the World Trade Organisation (WTO) “cannot happen for at least within the next five years”. Read more
Barbados off EU grey list
Nation News: Barbados is off the grey list, which means this country is completely cleared and is no longer being seen as a non-cooperative jurisdiction for tax purposes within the global International Business sector. Read more
CARICOM wants inter-governmental tax body to set standards, rules
CARICOM: CARICOM Heads of Government have reiterated the call for the creation of an “appropriate intergovernmental tax body with the adequate means and powers to set standards and rules” which support an equitable and universal approach to an international tax governance infrastructure. Read more
SG posits all-inclusive approach to strengthening CARICOM
CARICOM: Building a Caribbean Community (CARICOM) that is hardened to shocks requires an approach that embraces the talents, skills and resources of all actors of society, CARICOM Secretary-General said recently. Read more
Fixed roaming rates for CARICOM countries coming soon
Loop News Barbados: The Barbadian Prime Minister announced that Grenadian Prime Minister, Keith Mitchell and a team from the Caribbean Single Market Economy (CSME) have been working with regional telecommunication operators to implement a fixed roaming rate for CARICOM states. Read more
T&T, B’dos working together on CSME
Trinidad Express: BARBADOS and Trinidad and Tobago will be working together to put certain protocols in place to get the wheels of the CARICOM Single Market and Economy (CSME) moving faster in 2020. Read more
Castor Oil Sector Banking On $500m Gov’t Investment
Jamaica Gleaner: Jamaica’s castor oil sector is barely earning from exports, and is seen as woefully underperforming its potential, but its producers are regrouping. Read more
Consumers and the coronavirus: The implications for Jamaica
Jamaica Observer: Despite reports by the World Health Organization (WHO) last week that the number of cases of the deadly novel coronavirus being recorded on a daily basis in China is “stabilising”, concerns expressed by manufacturers and retailers suggest there will be a domino effect to consumers. Read more
INTERNATIONAL NEWS
EU budget: Talks end amid stand-off between ‘frugal’ and other nations
BBC: An EU budget summit ended without agreement on Friday following a stand-off between wealthy “frugal” member states and other countries. Read more
EU proposes rules for artificial intelligence to limit risk
AP: The European Union unveiled proposals Wednesday to regulate artificial intelligence that call for strict rules and safeguards on risky applications of the rapidly developing technology. Read more
Boeing asks lawmakers to suspend preferential tax rate
Fortune: Washington state lawmakers introduced bills Wednesday, at The Boeing Co.’s request, to suspend the aerospace giant’s preferential business and occupation tax rate unless the United States and European Union reach an agreement on their long-running international trade dispute that would allow the lower tax rate. Read more
Michel Barnier: UK can’t have Canada trade deal with EU
BBC: The UK cannot have the same trade deal with the EU as Canada, according to the bloc’s chief negotiator. Read more
UK unveils ‘iconic,’ blue post-Brexit passports, made by a French-Dutch company in Poland
CNN: The British government has unveiled the country’s new, blue post-Brexit passports, hailing the return of an “iconic” document that became a thorny issue during the UK’s protracted departure from the European Union. Read more
UK-EU trade tensions descend into ‘slide war’
The Guardian: Two sides of negotiations issue flurry of documents through social media. Read more
Trade Minister inaugurates seven working group to prepare country for AfCFTA
Ghanaweb: The Minister of Trade and Industry, Mr Alan Kyerematen, has inaugurated seven Technical Working Groups (TWGs) to spearhead the development of the country’s national programmes of action for Boosting Intra-African Trade (BIAT). Read more
Does the Kenya-US free trade deal signal Nigeria’s fall from grace?
The Africa Report: Nigeria has not managed to convince international investors – including those in the US – that it should be first in line for a post-AGOA deal. Read more
Indo-US trade deal: The ball is now in Washington’s court
Economic Times: Trump said his country is “not treated very well by India” but the US is “doing a very big trade deal with India”. Read more
China to refund US trade war tariffs on some medical devices amid coronavirus outbreak
South China Morning Post: China said on Friday it would refund tariffs already paid on a list of 55 US-made products including medical devices, engine components and timber products. Read more
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 Law and Development 