Caribbean Trade Law and Development

Tag: CARICOM

  • Caribbean Trade & Development Digest – October 13-19, 2019

    Caribbean Trade & Development Digest – October 13-19, 2019

    Welcome to the Caribbean Trade & Development News Digest for the weeks of October 13-19, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THE WEEK’S HIGHLIGHTS

    The EU and UK announced they had negotiated a new Brexit deal whose full text may be found here. The deal is yet to receive UK parliamentary approval and instead the UK House of Commons voted to delay Brexit again. PM Boris Johnson sent a letter to Brussels seeking a delay. However, the UK government will seek a meaningful vote on the deal tomorrow, Monday. Catch up on the latest Brexit developments here.

    REGIONAL NEWS

    Marriott Acquires Elegant Hotels in Barbados, Boosting All-Inclusive Offering

    Travel Market Report: Marriott has agreed to buy Elegant Hotels Group in a $130.1 million deal, as it looks to grow its all-inclusive portfolio in the Caribbean. Read more

    J’can Company B&D Gains From US-China Trade War – Grows Lobster Sales As Conch Ban Bites Into Income

    Jamaica Gleaner: With US$185 billion worth of duties being slapped on American exports to China in retaliation for US imposition of US$550 billion in tariffs on Chinese goods, leading seafood exporter, Kingston-based B&D Trawling Limited is ramping up volumes of live and frozen lobster sales into that Asian market at a significantly lower tariff than its US competitors. Read more

    Caribbean Export signs three MOUs to support the Caribbean’s export growth

    Jamaica Observer: At the recently held 4th staging of the Cariforum-European Union (EU) Business Forum in Frankfurt, Germany; three memorandum of understandings (MOUs) were signed between the Caribbean Export Development Agency and key stakeholders in Europe. Read more

    Trinidad Tourism Ltd: Tourism sector set to grow in 2020

    LoopTT: For the new fiscal year 2019/2020, Tourism Trinidad Limited’s (TTL) is aiming to increase visitor arrivals to 380,000, a 7 percent increase on the previous year’s figures. Read more

    TSTT raises over $2.7 b on US roadshow

    Trinidad & Tobago Guardian: A US$400 mil­lion 10-year bond of­fered by the Telecom­mu­ni­ca­tions Ser­vices of Trinidad and To­ba­go (TSTT) has been “sig­nif­i­cant­ly over-sub­scribed” the T&T Guardian has learned. Read more

    Facilitation of business improving in Barbados

    Barbados Today: Following recent rounds of Social Partnership talks, the private sector says it is pleased with progress being made by Government to address the vexing issue of business facilitation. Read more

    OECS/ITC workshop proving a success

    Antigua Observer: Stakeholders involved in the ongoing regional business excellence seminar have voiced their pleasure with the developments, noting in particular, the shared business experiences and solutions. Read more

    Mastercard Enters Jamaica, Targets Unbanked

    Jamaica Gleaner: It’s been roughly a month since technology company Mastercard settled into its new office space in New Kingston, but discussions are already ongoing to have the company doubling users of electronic payment systems across Jamaica over the next three years. Read more

    Former Diplomat Cites ‘Corruption Of EDF Resources In Saint Lucia’ In Open Letter

    St Lucia Times: See full letter to the editor. Read more

    Business, Consumer Confidence in Jamaica Dips In Third Quarter

    Jamaica Gleaner: Business confidence dipped in the third quarter of 2019 as firms have second thoughts about their positive expectations for the economy over the next year. Read more

    Jamaica Lobbies US On Correspondent Banking Relationships

    Caribnews NY: Jamaica will continue to lobby the United States to take the lead in legitimizing licensed cannabis growers and processors in the correspondent banking relationships with US banks, Industry, Commerce, Agriculture, and Fisheries, Minister Audley Shaw, has said. Read more

    Caribbean countries looking to take advantage of ACP-EU accord

    Jamaica Observer: As the 79-member African, Caribbean and Pacific (ACP) countries negotiate a post-2020 relationship with the European Union (EU), culture is being presented as an untapped sector that can contribute to the further development of the region. Read more

    INTERNATIONAL NEWS

    China’s developing country status brings it few benefits in the WTO

    East Asia Forum: Whether China is a ‘developing’ or ‘developed’ country for the purposes of the World Trade Organization (WTO) matters a lot to US President Donald Trump. Trump ignited a new front in the US–China trade war in July 2019 by tweeting that the world’s richest nations are masquerading as developing countries to get special treatment. Read more

    UK’s independent seat at WTO to include Channel Islands

    Gov.uk: The UK has today (Thursday 17 October) notified the World Trade Organization (WTO) that it will extend its WTO membership to include the Channel Islands. Read more

    Growing the Fiji Australia trade

    FBCNews: “For a small open economy like Fiji, our government agencies and policies aim to be pro-enterprise and pro-innovation. We are committed to working with our businesses to achieve these outcomes.” These were the remarks by the Minister for Industry, Trade and Tourism Premila Kumar, while speaking at the 25th Australia-Fiji Business Council Forum in Brisbane last week. Read more

    RCEP explained: The 16-country free-trade agreement that India may sign

    The News Minute: While countries have been negotiating since 2013, India has also been facing opposition from multiple domestic industries. Read more

    What’s Really in the Trade Deal Trump Announced With China

    New York Times: The partial trade deal hasn’t been signed and some details still have to be negotiated, but it could help some American firms. Read more

    South Africa gets behind China’s defence of multilateral trade

    South China Morning Post: Chinese Foreign Minister Wang Yi says the two countries should work together to oppose protectionism. Read more

    Russia Steps Up Its Game in Africa

    Moscow Times: The inaugural Russia-Africa summit shows Putin’s growing influence on the continent. Read more

    STRAIGHT FROM THE WTO

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  • Caribbean Trade & Development Digest – October 6-12, 2019

    Caribbean Trade & Development Digest – October 6-12, 2019

    Welcome to the Caribbean Trade & Development News Digest for the weeks of October 6-12, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THE WEEK’S HIGHLIGHTS

    The WTO held its annual Public Forum. This year’s theme was ‘Trading Forward: Adapting to a Changing World’. The 2019 World Trade Report was also released.

    Commonwealth Trade Ministers met on October 10 and have called on world leaders to reject protectionism and reform the WTO. The communique may be read here.

    With just two weeks to go before the UK’s scheduled departure from the EU, Brexit talks between the UK and EU remain at a stalemate despite a weekend of intense negotiations. Read more

    REGIONAL NEWS

    EU slaps 5-year tariff on Trinidad & Tobago fertilisers

    Newsday: This follows a European Commission (EC) final ruling on October 8, based on a complaint by Fertilizers Europe in June last year, claiming TT, Russia and the US were dumping product, resulting in material injury to European producers. Read more

    Antigua drops demand for LIAT shares

    Barbados Today: In an abrupt move, Prime Minister Gaston Browne has declared that he has told Prime Minister Mia Mottley that Antigua and Barbuda has found $40 million to pump in LIAT and no longer wants to buy Barbados’ shares in the cash-strapped carrier, Antigua Newsroom has reported. Read more

    Caribbean trade ministers want end to protectionist policies, reform of WTO

    Jamaica Observer: Caribbean Community (Caricom) trade ministers have joined their counterparts from the Commonwealth in calling for an end to trade protectionism and an urgent reform of the World Trade Organisation (WTO), which sets the global rules for international trade. Read more

    Barbados Car imports feel ASYCUDA pinch

    Barbados Today: The inability to clear vehicles at the Bridgetown Port as a result of issues with the ASYCUDA World system is threatening to put the brakes on Barbados’ largest importer of electric vehicles. Read more

    Drought lands “major blow,” but CARICOM and Belize sugar will be protected

    Breaking Belize News: Last week key sectors of agriculture and aquaculture along with trade from across the Caribbean met in Belize simultaneously for a full week. Read more

    CARICOM countries on alert for major diseases affecting pigs and bananas

    Breaking Belize News: A pair of deadly diseases poses imminent risk to two key industries, according to the Council for Trade and Economic Development (COTED), which wrapped up its meeting in Belize on Friday. Read more

    Health Minister Highlights Negative Effects Of Illicit Trade In Tobacco Products

    JIS: Minister of Health and Wellness, Dr. the Hon. Christopher Tufton, says the growing illicit trade in tobacco products is a clear and present danger to public health in the Caribbean and the rest of the world. Read more

    Jamaica Competitiveness Ranking Dips

    Jamaica Gleaner: Jamaica, which suffers from high crime and lack of export-led growth, slipped by one spot in competitive rankings, according to the Global Competitiveness Report 2019, published this week by World Economic Forum, or Weforum. Read more

    TTCSI welcomes 2020 Budget incentives for export businesses

    LoopTT: Government’s prioritisation of the expansion of exports has found favour with the Trinidad and Tobago Coalition of Services Industries (TTCSI). Read more


    INTERNATIONAL NEWS

    RCEP trade ministers’ talks end in impasse

    Financial Express: No joint statement will be issued, as certain key issues are yet to be resolved, even after two days of intense negotiations on October 11 and 12, according to one of the sources. Read more

    Staying out of RCEP trading bloc will only isolate India: Piyush Goyal

    Livemint: In a clear indication of India’s intentions ahead of the final ministerial meeting of the Regional Comprehensive Economic Partnership (RCEP) grouping on Saturday, trade minister Piyush Goyal on Thursday defended the free trade agreement among the 16 economies, holding that India cannot remain isolated in a globalized world. Read more

    Asean nations to exchange trade documents via ASW by year-end

    Business Mirror: The Philippines and seven other members of the Association of Southeast Asian Nations (Asean) will exchange customs and trade-related documents over a platform that is intended to facilitate cargo clearance and economic integration of Asean countries by year-end. Read more

    US-China trade deal: What it is, is not and may become

    The Hill: The U.S.-China trade agreement outlined on Friday is an act of cooperative rivalry. It brings immediate value to both sides while deferring strategic questions about future relations between the world’s two superpowers. Read more

    WTO is in crisis and Europe Must Step Up

    Bloomberg: The World Trade Organization is in crisis and needs reform to play its global role effectively, according to the trade minister of Finland, which currently holds the rotating European Union presidency. Read more

    International Chamber of Commerce issues recommendations to reform global trade

    ICC: Recognising the challenges, criticism and unprecedented pressure faced by the World Trade Organization (WTO) system, the International Chamber of Commerce (ICC) has unveiled a groundbreaking set of recommendations to guide the future of international trade. Read more

    WTO urges quick ban on harmful fisheries subsidies

    France24: The World Trade Organization on Tuesday called for countries to speed up talks aimed at hammering out an agreement on banning harmful fisheries subsidies. Read more

    Asia-Pacific needs the WTO to stay relevant in an increasingly uncertain world

    South China Morning Post: To walk along the autumn shoreline of Lake Geneva to the headquarters of the World Trade Organisation (WTO), kicking fallen conkers from horse chestnut trees, is to occupy a steady, constant world light years away from the conflicts and challenges addressed by the many United Nations institutions settled there for the past 70 years. Read more

    UK Trade minister Truss backs WTO reform before Brexit

    Euronews: British trade secretary Liz Truss said she opposed protectionism but backed U.S. President Donald Trump’s calls to reform the World Trade Organization (WTO). Read more

    STRAIGHT FROM THE WTO

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  • Caribbean Trade & Development Digest – September 15-October 5, 2019

    Caribbean Trade & Development Digest – September 15-October 5, 2019

    Welcome to the Caribbean Trade & Development News Digest for the weeks of September 15-October 5, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past weeks.

    HIGHLIGHTS

    The India-CARICOM Leaders’ Summit was held on the sidelines of the 74th session of the UN General Assembly. Read more about the meeting here.

    The WTO has cut its global trade growth forecast again. World merchandise trade volumes are now expected to rise by only 1.2% in 2019, substantially slower than the 2.6% growth forecast in April. Read the full outlook here.

    In the latest installment of the 15 year Boeing-Airbus saga between the US and the EU, a WTO arbitrator on October 2 authorised the US to impose tariffs up to $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus. Read the full ruling here.

    With just three weeks to go before the UK is officially due to leave the EU, the UK PM Boris Johnson has made a new Brexit proposal regarding the Ireland-Northern Ireland border issue. Read the proposal here.

    REGIONAL NEWS

    India, CARICOM agree to create task force for trade, diversification

    LoopTT: The meeting concluded with a decision to create a joint India/CARICOM task force which will develop and implement concrete plans to further advance trade and facilitate diversification in the region. Read more

    No change

    Barbados Today: The UK’s Department for International Trade (DIT) in Bridgetown Barbados hosted a trade and investment reception to stimulate increased business opportunities between the UK and Caribbean markets. Read more

    Antigua and Barbados to continue talks over sale of LIAT’s shares

    Barbados Today: The Government of Antigua and Barbuda said that it intends to keep discussions going with Barbados with a view over the sale of the latter’s shares in the regional airline, LIAT, despite reports from other regional media houses that negotiations between both countries has fallen through. Read more

    Caribbean governments urged to take a collective approach to marijuana

    LoopSLU: St Vincent and the Grenadines Minister of Agriculture, Saboto Caesar is calling for Caricom and the Organisation of Eastern Caribbean States (OECS) to take a collective approach to the development of standards governing the negotiation of cannabis trade agreements for their member states. Read more

    CARICOM Sugar stakeholder engagement meeting held in Belize

    Breaking Belize News: Minister of Investment, Trade and Commerce, Tracy Panton, Minister of Agriculture, Godwin Hulse and the CARICOM Secretariat hosted sugar stakeholders from across the Caribbean Community at the Best Western Plus Biltmore Plaza in Belize City on October 2nd, 2019. Read more

    CARICOM and Central America make common cause on fish

    Breaking Belize News: The fishing communities of the Caribbean and Central America are meeting this week in Belize City to seek joint action on facing the problems affecting both. Read more

    Holness Reiterates Call For Concessionary Financing For CARICOM

    The Gleaner: Jamaica yesterday reiterated a call for concessionary financing for Caribbean Community (CARICOM) countries, saying that the present policy was severely hampering the socio-economic growth of the 15-member regional grouping. Read more

    Local Chamber of Commerce members meet with Indian High Commissioner

    Antigua Observer: On Monday 16th September 2019, a delegation of the local Chamber of Commerce held high-level discussions with the newly-appointed Indian High Commissioner to CARICOM, Dr. K.J. Srinivasa and his second in command, Mr. R.K. Perindia, on their first official visit since the High Commissioner’s recent posting. Read more

    INTERNATIONAL NEWS

    UK response to WTO ruling on Airbus

    UK.gov: The UK is confident that it has fully complied with WTO rulings in the Airbus dispute. Read more

    WTO members engage in exploratory talks on market access for environmental services

    WTO: WTO services negotiators debated market access issues relating to environmental services based on a new communication tabled by Australia, Canada, Mexico, New Zealand and Switzerland at an informal meeting of the Council for Trade in Services in Special Session held on 30 September 2019. Read more

    Brexit: We can do a deal if EU is willing – Johnson

    BBC: Boris Johnson has claimed his Brexit proposals have picked up support in Parliament as he urged the European Union to compromise. Read more

    EAEU signs free trade agreement with Singapore under Armenian chairmanship

    Emerging Europe: The Eurasian Economic Union (EAEU), the Russian-led economic alliance of Armenia, Belarus, Kazakhstan and Kyrgyzstan, has signed a free trade agreement with Singapore during the annual summit of the Supreme Eurasian Council, the organisation’s executive body in Yerevan, the Armenian press has reported. Read more

    High-level meeting in Peru takes aim at illegal wildlife trade

    CGTN: The jaguar, the largest cat in the Americas, is the emblem of a new initiative to combat the illegal trade in the continent’s wild animals. The iconic but threatened predator has a key role in the ecosystem but also tremendous cultural significance for the peoples of the Americas. Read more

    Nigeria, South Africa Seal 32 Trade Pacts

    AllAfrica: Nigeria and South Africa, yesterday, signed 32 bilateral agreements and memoranda of understanding covering trade and industry, science and technology, defence, agriculture and energy, thus expanding Africa’s deepest trade relationship. Read more

    WTO in ‘critical situation’, EU warns

    Euractiv: EU member states discussed on Tuesday (1 October) how to address the “critical situation” of the World Trade Organisation, as the US continues to block the renovation of its appellate body, key for the functioning of the institution. Read more

    STRAIGHT FROM THE WTO

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  • Caribbean Trade & Development Digest – September 8-14, 2019

    Caribbean Trade & Development Digest – September 8-14, 2019

    Welcome to the Caribbean Trade & Development News Digest for the weeks of September 8-14, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    HIGHLIGHTS

    Prime Minister of Barbados, the Hon. Mia Amor Mottley, delivered the prestigious 16th Raul Prebisch Lecture. Prime Minister Mottley’s theme was ‘Invisible yet Indispensable’. The full lecture may be watched here.

    UNCTAD held its first UN Trade Forum, with climate change as the major focal point. This week also marked the twenty-fifth anniversary of the conclusion of the Uruguay Round which culminated in the formation of the World Trade Organization (WTO).

    On a personal note, I had the pleasure and honour of being a panelist at the 3rd annual BITT Conference ‘Central Bank meets Blockchain‘. I spoke on the potential benefits of BITT’s proposed blockchain-enabled Caribbean Settlement Network (CSN) for facilitating intra-regional payments and trade, regional integration and development. Kudos to my fellow panelists, to the moderator and to the BITT team on an informative and well-executed conference!

    L-R – John Williams (CEO, Cave Shepherd Group of Companies), Racquel Moses (CEO, Caribbean Climate Smart Accelerator), Marla Dukharan (Chief Economist of BITT and moderator of the panel), Alicia Nicholls (Trade Specialist, UWI) and Geoffrey Scott (Executive Director, ICBL).

    REGIONAL NEWS

    Barbados leader urges moral leadership to tackle climate crisis

    UNCTAD: Prime Minister of Barbados, Mia Amor Mottley, challenged the world to reinvent the international order and do better by small island states that are on the frontlines of the climate crisis, fighting for their survival in a war they did not start. Read more

    Hefty bill for pork imports

    Barbados Advocate: A Government official is gravely concerned with the fact that millions of dollars are being spent on importing pork into Barbados. Read more

    JAMPRO targeting Latin America for Jamaican exporters

    Loop Jamaica: To increase Jamaican exporters’ access to Latin American and Caribbean (LAC) markets, Jamaica’s trade and investment promotions agency, JAMPRO, will be leading a delegation of 6 companies to the LAC Flavors trade exhibition in Cali, Colombia. Read more

    Digitally transforming the Eastern Caribbean

    World Bank: The Caribbean has been at the forefront of the resilience-building agenda. For countries in the region, most of them Small Island States located in the path of strong and recurrent hurricanes, climate change adaptation is a matter of survival. The passage of Hurricane Dorian in 2019 is a stark reminder of this vulnerability. Read more

    Region good for trade

    Newsday: Trade and Industry Minister Paula Gopee-Scoon believes the region has evolved to transform its economies to some extent away from traditional sectors into the production of high value-added goods. Read more

    Bahamas suspends immigration crackdown

    Jamaica Observer: The Bahamas Government says it has suspended the crackdown on illegal migrants in the Abacos and Grand Bahama, as the death toll from the passage of Hurricane Dorian a week ago climbed to 45. Read more

    Dr. Rowley goes to Washington

    Trinidad Express: Within 24 hours of his arriving in Washington DC, Prime Minister Dr Keith Rowley met with a number of high-ranking members of the United States Congress on Thursday. Read more

    Caricom Silent While Refined Sugar Quarrel Rages

    Jamaica Gleaner: It might be working feverishly behind the scenes to cool tempers and iron out differences as it normally does in these matters, but the secretariat for regional trade bloc Caricom is not saying anything publicly about the running battle between regional sugar producers on the one hand, and manufacturers and national governments. Read more

    Greater ties with CARICOM-Africa Trading Partners

    Barbados Advocate: The changing nature of the world economy is demanding that there be greater co-operation between Barbados and its Caribbean Community trading partners as well as with African countries. Read more

    Trump admin won’t give temporary protected status to Bahamian victims of Hurricane Dorian

    CNBC: The status would have let Bahamians work and live in the U.S. until it is deemed safe to return home. Read more

    Trade issues too distant from climate issues, says Vaz

    Jamaica Observer: Jamaica has called on member countries of the World Trade Organization (WTO) to include the cost associated with climate change in any discussion on international trade. Read more

    The Rum Market In The UK Could Grow By 8.8% In Coming Years

    The Voice: Caribbean Rum is one of the preferred drinks of the British, a fact reflected in the market, which is expected to grow in the UK by 8.8% in coming years. Revenue in the rum segment for 2019 amounts to nearly £1 million. Read more

    INTERNATIONAL NEWS

    All 16 nations set for final RCEP deal: Australian negotiator

    The Hindu: Amidst conflicting signals from the government over whether India will join the Regional Comprehensive Economic Partnership (RCEP) this year, Australia’s lead negotiator for the 16-nation free trade agreement (FTA) says all countries have “committed” to completing talks in time for the RCEP summit on November 1. Read more

    Mexico may be an unexpected winner of the US-China trade war

    CNBC: China and the United States are disrupting trade in much of the world with their trade war — but Mexico may be a winner. Read more

    Wary of China in RCEP, India looks for bilateral deals amid mounting trade deficit

    Business Today: In 2018-19, India had trade deficit with 11 out of 20 RCEP countries. In 2017-18, it had a trade deficit of $104 billion with all RCEP countries; more than half of this ($57.86 trillion) was with China. Read more

    A Latin American Brexit? Analysing Brazil’s threat on Mercosur

    Buenos Aires Times: Jair Bolsonaro has said Brazil could leave Mercosur if Argentina, the second-largest economy in the customs union, pivots to the left after presidential elections in October. But how feasible is such a break? Read more

    South Korean Duties on Japanese Valves Violate Rules, WTO Finds

    Bloomberg: The World Trade Organization on Tuesday ruled for a second time that South Korea’s anti-dumping duties on Japanese valves violate international trade rules, according to a decision published on the WTO website. Read more

    Trump Advisers Consider Interim China Deal to Delay Tariffs

    Bloomberg: Trump administration officials have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases, according to five people familiar with the matter. Read more

    WTO on brink of crisis due to inaction over dispute-settlement reforms, Birmingham warns

    Sydney Morning Herald: Trade Minister Simon Birmingham has warned inaction over reform of the World Trade Organisation’s dispute-settlement system has taken the body to the brink of crisis. Read more

    A New Phase in Japanese-South Korean Relations as Trade Becomes Weapon in Political Row

    Nippon: Japanese and South Korean relations entered a new phase when the Japanese government announced on July 1 that it was going to “normalize” its export control measures, in effect curbing its trade with South Korea. The move linked a political conflict between the two countries with the economy in a way that has not been seen before. Read more

    Trade rep sends responses on revised NAFTA deal to Democrats

    Politico: U.S. Trade Representative Robert Lighthizer on Wednesday formally responded to House Democrats’ concerns about the new North American trade agreement, marking a step forward in negotiations between the Trump administration and Capitol Hill. Read more

    Britain agrees post-Brexit trade deal with southern Africa

    Reuters: Britain has agreed a deal with six southern African countries including South Africa, the continent’s most developed economy, that will ensure continuity of trade conditions after Brexit, the British High Commission in South Africa said on Wednesday. Read more

    New EU trade commissioner is Phil Hogan

    BBC: Irishman Phil Hogan has been named as the EU’s new trade commissioner. His appointment was announced at a press conference by the incoming head of the European Commission, Ursula von der Leyen. Read more

    Trump poised to hit EU with billions in tariffs after victory in Airbus case

    Politico: The United States has gotten the green light to impose billions of euros in punitive tariffs on EU products in retaliation for illegal subsidies granted to European aerospace giant Airbus. Read more

    Countries dependent on commodities should diversify economies to survive climate crisis, says UN report

    UNCTAD: Economic and export diversification is the best response to the challenges posed by climate change in developing countries that depend on commodities, according to UNCTAD’s Commodities and Development Report 2019. Read more

    WTO NEWS

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