Tag: CARICOM

  • CARICOM and the African Union to deepen ties: Why this is a good idea!

    CARICOM and the African Union to deepen ties: Why this is a good idea!

    Alicia Nicholls

    Caribbean-African relations have become an exciting and refreshing trade space to watch in recent months. Over the past few weeks, two African leaders (Their Excellencies President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya) paid separate official visits to the Caribbean. Barbados’ Prime Minister, the Hon. Mia Amor Mottley also paid a state visit to Morocco in June 2019.

    It was also announced earlier this month that the Caribbean Community (CARICOM) would over the next year seek to deepen and formalise cooperation with its African equivalent – the African Union (AU). This article takes a brief look at why formalization of south-south cooperation and engagement between CARICOM and the African Union is a good idea.

    CARICOM and AU have more similarities than differences

    The formal relationship between the two regions has been mainly through their participation in the Africa, Caribbean, Pacific (ACP) and the Commonwealth of Nations groupings, and not directly bilateral. But change is on the horizon. In 2012, Heads of State and Government of the African Union, the Caribbean and South America concluded the Global African Summit with a declaration which outlined a plan of action for forging political, economic and social cooperation between the AU and ‘all inter-governmental entities in regions in which African Diaspora populations are part of’, which includes CARICOM.

    As I wrote in a previous article a couple of weeks ago, there is much promise for expanding and deepening economic and political relations between Africa and the Caribbean. A boost would be, of course, formal collaboration between CARICOM and the AU.

    CARICOM is an intergovernmental organization of fifteen mostly English-speaking Caribbean States and territories founded on July 4, 1973 by the Treaty of Chaguaramas (revised in 2001). It was preceded by the Caribbean Free Trade Agreement (CARIFTA) which lasted from 1968-1973 and the West Indian Federation (1958-1962). CARICOM has a collective population of approximately 18 million. Its secretariat is based in Georgetown, Guyana. Twelve CARICOM Members are currently full members of the CARICOM Single Market and Economy (CSME).

    The AU is a 55-nation pan-continental, intergovernmental organization which was officially launched in July 2002. The AU has a population of just over 1 billion. Its secretariat is in Addis Ababa, Ethiopia. The AU has launched Agenda 2063, an ambitious plan to transform the continent into a global powerhouse. There are currently eight regional economic communities considered ‘building blocks’ of the AU, and diaspora relations are also integral to the AU.

    Both CARICOM and the AU are intergovernmental organisations which encompass post-colonial States with cultural and linguistic differences, facing a myriad of challenges and varying levels of development. Both are in the process of wide-scale regional integration projects. CARICOM, for instance, is in the process of trying to consolidate its CSME. The African Continental Free Trade Agreement (AfCFTA), which was signed in March 2018 and currently has 54 signatories, seeks to create a seamless pan-African economic space. The AfCFTA came into effect in May 2019 and the process has started for the Agreement’s operationalization.

    There are, of course, differences between the two regions which may impact on the policy and negotiating positions taken in multilateral fora. For example, most CARICOM countries are services-based (mainly tourism and/or financial services) economies, with the exception of Belize, Guyana, Suriname and Trinidad & Tobago where commodities trade is important. In the mostly resource-rich African countries, however, commodities trade is king. Most Caribbean countries are Small Island Developing States (SIDS), while those in the AU include mainly landlocked and coastal continental States. The only six AU SIDS are Comoros, Guinea Bissau, Mauritius, Sao Tome e Principe and Seychelles. Moreover, 33 of the 55-member AU are classified by the United Nations (UN) as Least Developed Countries (LDCs), while Haiti is the only LDC in CARICOM.

    Despite these differences, which should not be overlooked, I believe the prospects for CARICOM/AU collaboration and engagement are very promising. Both regions can learn from each other as they seek to deepen their integration projects. There is also scope for closer Caribbean/Africa multilateral collaboration on issues of mutual interest, such as confronting the growing threat of unilateralism and protectionism; the achievement of the United Nations’ 2030 Agenda and its 17 Sustainable Development Goals (SDGs) and their targets; de-risking by global banks; climate change; reform of the World Trade Organisation (WTO); securing reparations, to name a few. Intra-regional cooperation prospects are also promising in many areas such as agriculture, education, the creative industries, renewable energy, medicine/health, the blue and green economies, sports, information and communications technology (ICTs), for example.

    Moreover, Barbados’ upcoming co-hosting of the UNCTAD 15 Quadrennial in October 2020 provides further prospects for collaboration on important multilateral trade and development issues. It is interesting to note that UNCTAD 14 was held in Nairobi, Kenya so there is the opportunity for Kenya to share with Barbados its experience in the successful hosting of the UNCTAD 14.

    Plans for Deepening CARICOM/AU ties  

    A press release issued by the CARICOM Secretariat noted that CARICOM Secretary General Ambassador Irwin LaRocque and Deputy Chair of the African Union Commission (AUC), His Excellency Kwesi Quartey, discussed the need for continued ACP solidarity in the on-going negotiations for the Post-Cotonou Agreement with the European Union (EU) and agreed to explore collaboration on multilateral areas of concern, such as climate change.

    The CARICOM press release further noted that the two leaders “took the opportunity to consider some of the areas in which their two organisations could work together including the formalisation of an institutional relationship between CARICOM and the AU to promote cooperation and to strengthen the deep bond of friendship between Africa and the Caribbean.”

    Moreover, St. Lucia Times has quoted St. Lucian Prime Minister, the Hon. Allen Chastanet, as stating that there will be a planned CARICOM and the AU Summit and the signature of a Memorandum of Understanding establishing a framework for engagement and cooperation. Prime Minister Chastanet is further quoted by this news agency as stating that “Barbados and Suriname will partner in establishing an Embassy in Ghana, while Barbados and Saint Lucia will partner in establishing an Embassy in Kenya.”

    During President Kenyatta’s visit, Barbados and Kenya have also committed to negotiating a Double Taxation Agreement and Bilateral Investment Treaty with each other, and discussed collaboration in areas such as ICTs, renewable energy, sports, the blue economy, health, education and air services. Kenya has also sought the Caribbean’s support in its bid for a seat on the UN Security Council.

    While this high-level political commitment to greater Caribbean-African engagement is needed and commendable, it is firm to firm, university to university and people to people collaboration which will transform deeper Caribbean-African relations from an aspiration to reality. An important step, therefore, will also be formalizing relations between private sector organisations, business support organizations, investment promotion agencies, universities and tourism boards in the Caribbean and Africa in order to promote Caribbean-Africa trade and investment in both traditional and emerging sectors, research and tourism. On this note, it was welcomed news that there will be commencement of engagement between the private sectors of Barbados and Kenya, as well as deeper university collaboration.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and 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.

  • Caribbean Trade & Development News Digest – July 28-August 10, 2019

    Caribbean Trade & Development News Digest – July 28-August 10, 2019

    Welcome to the Caribbean Trade & Development News Digest for the weeks of July 28-August 10, 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

    The World Trade Organization released its World Trade Statistical Review 2019 which provides a detailed analysis of global trade developments for the review period. Access the report here.

    The Caribbean Court of Justice upheld the classification decision of the CARICOM Council for Trade and Economic Development (COTED)’s on cement imported and distributed by the Barbados-based Rock Hard Cement Ltd.

    REGIONAL NEWS

    CARICOM and the African Union discuss working together, formalising relationship

    CARICOM: Secretary General of the Caribbean Community (CARICOM), Ambassador Irwin LaRocque and Deputy Chair of the African Union Commission (AUC), His Excellency Kwesi Quartey discussed the need for continued ACP solidarity in the negotiations for the Post-Coutonou Agreement with the European Union (EU). Read more

    Caribbean Court upholds trade ministerial decision on cement classification

    Demerara Waves: The Caribbean Court of Justice (CCJ) on Tuesday delivered a judgement which upholds the classification decision of the CARICOM Council for Trade and Economic Development (COTED) on cement, known as Rock Hard Cement, imported and/or distributed within CARICOM by Rock Hard Cement (Rock Hard Distributors Limited) and, Mootilal Ramhit and Sons Contracting Limited. Read more

    Exports of essential oils from the Caribbean to Europe increasing

    South Florida Caribbean News: It is becoming increasingly common to find natural cosmetic products in large retail stores, perfume stores and supermarkets. Read more

    Government of Jamaica allocate $15 million to farmers affected by the ongoing drought

    Caribbean News Now: The ministry of industry, commerce, agriculture, and fisheries, through the Rural Agricultural Development Authority (RADA), is spending $15 million to assist farmers affected by the ongoing drought. Read more

    Addressing Genetically Modified Foods: A Rising Food Security Concern for the Region

    SRC: Genetically Modified Organisms (GMOs) are one of the most controversial areas of science. While their use in certain fields like medicine is accepted, when it comes to their use in food and agriculture, ethical and moral questions loom. Read more

    Barbados ‘vulnerable’ to food fraud

    Nation News: Despite having “pretty strong” food safety and security measures, Barbados is still vulnerable to food fraud, says Inter-American Institute for Cooperation on Agriculture (IICA) representative Ena Harvey. Read more

    Kenya to open trade links with Jamaica

    The Star: The Kenya National Chamber of Commerce and Industry and Jamaica Chamber of Commerce and Industry have expressed interest in deepening trade ties. Read more

    How did the Bahamas revitalise its sponge industry?

    IDB: A small community of about 900 people in Little harbour, in Mangrove Cay in The Bahamas, used to be home to a key driver of local economic growth–sponging. Little Harbour, which runs along a 1.5 million national marine park that is one of the Caribbean’s largest protected areas, is adjacent to the world’s third-largest barrier reef. Read more

    Uhuru seeks Caribbean support in Kenya’s bid for UN Security Council seat

    Capital FM: President Uhuru Kenyatta has urged the Caribbean community to support Kenya’s bid for the United Nations Security Council (UNSC) non-permanent seat for the period 2021 to 2022. Read more

    Uhuru invites Barbadian business community to invest in Kenya

    Capital FM: President Uhuru Kenyatta has invited Barbadian investors to set shop in Kenya saying his administration has created an enabling environment for both foreign and local businesses to thrive. Read more

    INTERNATIONAL NEWS

    US-Africa trade talks end in Abidjan, highlight AfCFTA

    North Africa Post: Talks between African and US officials to review the African Growth and Opportunity Act (AGOA) free-trade deal ended Thursday in Côte d’Ivoire with no major deal. Read more

    Japan expands trade and investments in Africa

    Fresh Plaza: In connection with the Tokyo International Conference on African Development, Japanese cumulative FDI in Africa increased from $3.9bn in 2007 to $10bn in 2016. Read more

    How new Trade Information Portal plans to plug Africa’s data and finance gap

    GTR: The African Export-Import Bank (Afreximbank) is building an online repository of information products for importers and exporters looking to access African markets or expand existing operations across the continent. Read more

    Two third of market access negotiations in RCEP over; 16-nation FTA talks to resume in September

    Business Today: The intersessional ministerial meeting among 16 countries to negotiate a mega free trade agreement – Regional Comprehensive Economic Partnership (RCEP) – concluded last week with a call to maintain the momentum in the run up to the closure of negotiations by the end of the year. Read more

    RCEP negotiations: India lists out demands before China for market access

    Business Line: Playing hardball with China in the on-going negotiations for the Regional Comprehensive Economic Partnership (RCEP) pact, India has read it out a big list of demands for market access in both goods and services, including larger exports of drugs, sugar, rice, dairy, soybean, IT and other services. Read more

    RCEP talks: New Zealand ready to ease work-visa rules for India

    Business Line: New Zealand wants to have greater market access for its dairy products, apples, kiwis and wine into India as part of the ongoing Regional Comprehensive Economic Partnership (RCEP) pact being negotiated by 16 countries, said the country’s special envoy for Commonwealth Trade Integration Jeremy Clarke-Watson. Read more

    ACP calls for unity as negotiations continue with Europe

    Jamaica Observer: Secretary General of the African Caribbean and Pacific (ACP) Group Dr Patrick I Gomes says the 79-member grouping must continue to show unity and be strong if it wants a successful outcome to the negotiations for a new agreement to replace the Cotonou Agreement that expires in 2020. Read more

    ACP Secretariat recommends actions for the UK government to facilitate physical market access of ACP Service providers to the UK market

    ACP: The ACP Group of States was recently invited to give evidence before the House of Commons International Trade Select Committee to speak about the movement of natural persons in the delivery of temporary services (Mode 4 of services supply). Read more

    Container ports: the fastest, the busiest, and the best connected

    UNCTAD: Known as the “humble heroes” of globalization, containers are handled in hundreds of millions at container ports worldwide annually. Efficient and well-connected container ports enabled by frequent and regular shipping services are key to minimizing trade costs, including transport costs, linking supply chains and supporting international trade. Read more

    There’s another trade war brewing over oil and milk

    Economic Times: While the world focuses on the ongoing trade war between China and the U.S., another spat has been brewing between commodity giant Indonesia and the European Union. Read more

    Western Australia’s huge reliance on China leaves it particularly vulnerable in a trade war

    ABC (Australia): The West Australian Government has been left walking a fine line in navigating the state’s economic reliance on China in the midst of a trade war and rising security tensions between the superpower and the United States. Read more

    Qatar prevails over UAE in trade dispute at WTO

    MENAFM: The State of Qatar announced yesterday that its permanent mission to the World Trade Organization (WTO) has received a formal communication indicating that the United Arab Emirates (UAE) had withdrawn its WTO dispute concerning certain alleged measures adopted by Qatar. Read more

    As Trump Scales Back, Asian Heavyweights Prep for World’s Biggest Trade Pact

    VoA: The world’s biggest free trade pact may be just months from final signatures after talks this month appeared to bring the trade group’s 16 members closer to agreement. Read more

    Biden: I would ‘renegotiate’ Pacific trade deal

    The Hill: Former Vice President Joe Biden said Wednesday night he would “renegotiate” the Trans-Pacific Partnership (TPP), not seek to rejoin it as it was previously written. Read more

    US Open to Further Talks as Trade War With China Escalates

    VoA: The White House is signaling it is not seeking to further escalate the trade war with Beijing, after the administration of President Donald Trump took the mostly symbolic action of declaring China a currency manipulator. Read more

    Trump has ‘huge appetite’ for free trade deal with UK – Raab

    Sky News: The foreign secretary sounds upbeat about UK-US trade after meeting President Trump at the White House. Read more

    Nicaragua Confirms Agreement With South Korea

    Q Costa Rica: Nicaragua is the first Central American country to establish a date of entry into force of the Free Trade Agreement (FTA) with South Korea, which is agreed for October 1, 2019. Read more

    Free trade agreement between Singapore and Britain in the works: Vivian Balakrishnan

    CNA: Singapore says it has an understanding with the United States that the city-state does not take advantage of privileges that come with “developing country” status in the World Trade Organisation (WTO). Read more

    US aware Singapore doesn’t take advantage of developing-country status: Chan Chun Sing

    The Strait Times: Singapore says it has an understanding with the United States that the city-state does not take advantage of privileges that come with “developing country” status in the World Trade Organisation (WTO). Read more

    WTO NEWS

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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:

  • CARICOM Heads adopt St. Johns Declaration to address plastic pollution in Caribbean Sea

    CARICOM Heads adopt St. Johns Declaration to address plastic pollution in Caribbean Sea

    Alicia Nicholls

    Caribbean Community (CARICOM) Heads of Government this week adopted a Declaration aimed at addressing the high levels of plastics and microplastics in the Caribbean Sea and their adverse impact on Caribbean sustainable development.

    The St. John’s Declaration was signed and launched by the Government of Antigua and Barbuda at the Play it Out Concert hosted by Antigua and sponsored by Norway. It is part of the United Nations General Assembly (UNGA) President Maria Espinosa’s global call to action for Governments against plastic pollution and single-use plastics launched in December 2018. The Declaration was subsequently adopted by CARICOM Heads of Government during their 40th session held in St. Lucia July 3-5, 2019.

    Why is the St. John’s Declaration important?

    The Caribbean Sea is of tremendous economic, social and ecological value to the countries washed by its shores. A World Bank Study estimates that “in 2017, the insular Caribbean’s gross revenues from marine and coastal tourism alone totaled an estimated US$57 billion”. This same study cites pollution as one of the biggest threats to the Caribbean marine environment.

    Indeed, the World Bank study notes that “marine litter is accumulating in the Caribbean Sea, originating both in the region as well as distant countries overseas through the ocean currents” and that “studies have… found as many as 200,000 pieces of plastic per square kilometer in the northeastern Caribbean”.

    According to the World Bank Report, “up to 80 per cent of the litter found in our oceans is made of plastic”. It further states that “Caribbean data from beach and coastal clean-ups in 2017 indicate that plastic beverage bottles alone amount to 21 percent of the items recorded.”

    These plastics are dangerous because they take many years to degrade, remaining blights on the marine and land-based environment and death traps for marine life. According to Ocean Crusaders, “100,000 marine creatures a year die from plastic entanglement” and approximately 1 million sea birds also die from plastic. This of course has implications for human health and food security.

    Twelve CARICOM Member States have to varying extents passed legislation to implement full or partial bans on the use of single use plastics and styrofoam products. However, the region has fallen short of a region-wide plastics ban. CARICOM’s adoption of the St. Johns Declaration is a good step towards showing our leadership’s commitment towards addressing the serious threat marine litter poses to our sustainable development.

    Key Elements of the Declaration

    The St. Johns Declaration encourages CARICOM Member States that have not yet done so to introduce measures to reduce and/or eliminate the use of single use plastics. It also commits to addressing the damage to our ecosystems caused by plastics by 2030 and to work with the private sector to “find affordable, sustainable and environmentally friendly alternatives”.

    The Declaration recognizes that effective implementation of these actions “requires enabling and coherent policy, legislative and regulatory frameworks, good governance and effective enforcement at the global, regional, national and local levels”. They also “encourage development partners and the private sector to contribute financial and technical assistance, capacity-building initiatives”.

    Marine litter is not just a Caribbean issue, but a global one. Firstly, plastic pollution in the Caribbean Sea comes not just from Caribbean countries, but from other countries, particularly in the North. Secondly, other oceans globally also face a similar threat.

    There has been some global action on the issue of marine litter. Goal 14 of the UN Agenda 2030 and its 17 Sustainable Development Goals is to “conserve and sustainably use the oceans, seas and marine resources for sustainable development’. More specifically, one of its targets is “to reduce significantly all forms of marine pollution by 2025”. There are also several United Nations resolutions, including resolution 4/7 on ‘Marine Litter and Microplastics’.

    Recently, the Association of Southeast Asian Nations (ASEAN) adopted the Bangkok Declaration on Combating Marine Debris in the ASEAN Region in June 2019. The St. Johns Declaration encourages other regional and sub regional groups of countries “to take similar measures to eliminate discharge of plastic litter and microplastics to wells, rivers, seas and oceans”.

    Given the magnitude of the threat of marine litter, and in particular, plastics pollution, global action still falls far short of what it should be. As such, the St. Johns Declaration calls for the urgent need for a global agreement to address plastics and microplastic pollution.

    Our CARICOM leaders’ adoption of the St. John’s Declaration is a good step, but this is just the beginning. It must be translated into concrete action. For instance, getting countries which have not yet done so to implement bans on single use plastics and styrofoam products. This requires not just strong enforcement of the bans, but widespread public service campaigns educating businesses and the general public on the impact plastics have on the marine environment, and consequent implications for human health and food security. As several countries around the world, including some Caribbean countries, have implemented bans, there is scope for learning from these countries’ experiences in order to formulate best practices.

    The full text of the Declaration of St. John’s is attached the Communique of the Conference of Heads of Government 40th Session which may be read here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and 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.

  • Caribbean Trade & Development News Digest – June 23-29, 2019

    Caribbean Trade & Development News Digest – June 23-29, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 23-29, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S TRADE HIGHLIGHTS

    The EU and Mercosur have reached a trade deal. Read the EU’s press release here.

    G20 leaders met in Osaka, Japan and among other things, have affirmed their commitment to WTO reform. The full G20 statement may be read here.

    Barbados and UAE will co-chair UNCTAD’s 15th Quadrennial in October 2020. Read more here.

    REGIONAL NEWS

    C’bean leaders to further discuss CSME at summit

    Jamaica Observer: Caribbean Community (CARICOM) leaders will meet here early next week with the implementation of measures to enhance the CARICOM Single Market and Economy (CSME) high on the agenda. Read more

    Caricom heads to meet in July

    Newsday: The 40th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (Caricom) will be held in St Lucia from July 3-5. Read more

    Barbados to host UNCTAD Conference

    Nation News: Prime Minister Mia Mottley announced today the island would host the 15th United Nations Conference on Trade and Development (UNCTAD) quadrennial meeting in October next year. Read more

    Imports up 1.9% in May 2019

    Amandala: The Statistics Institute of Belize (SIB) reported that Belize imported $169.4 million worth of goods in May 2019, a 1.9% increase over goods imported last year in the same period. Read more

    Guyana listed as world’s fastest growing economy

    Jamaica Observer: The world’s second largest stock market NASDAQ, has named Guyana as the fastest growing economy in the world. Read more

    Regional rum producers promoting responsible drinking

    Jamaica Observer: The West Indies Rum & Spirits Producers’ Association (WIRSPA) has ended a meeting here discussing how to promote responsible drinking and to reduce the harmful use of alcohol. Read more

    Jamaica Imports and exports rising

    Jamaica Observer: The Statistical Institute of Jamaica (Statin) is reporting in its quarterly report that for the period January to March 2019, Jamaica’s imports were valued at US$1.66 billion — a 13.1 per cent increase when compared to the corresponding period for 2018 with a value of US$1.47 billion. Read more

    Antigua PM willing to create team to sensitise correspondent banks about CIP

    Antigua Observer: In an effort to sensitise correspondent banks on the integrity and security of the Citizenship by Investment Programme’s (CIP’s) application and approval process, Prime Minister Gaston Browne, in his capacity as OECS Chair, said that he is willing to assemble a team of government officials, CIP executives, Anti-Money Laundering and Countering Financing of Terrorism experts and banks to hold joint meetings. Read more

    INTERNATIONAL NEWS

    G-20 leaders agree to speed up WTO reforms

    Nikkei Asian Review: The Group of 20 leaders ended a summit dominated by the U.S.-China trade war with a commitment to accelerating efforts to reform the World Trade Organization. Read more

    India wins solar case against US at WTO

    Livemint: India on Thursday won a major trade dispute against the US at the World Trade Organization, with a dispute settlement panel pronouncing that subsidies and mandatory local content requirements instituted by eight American states breached global trade rules. Read more

    Nigeria: Finally, Nigeria to Sign African Continental Free Trade Agreement

    AllAfrica: Following the recommendation of the Presidential Committee on African Continental Free Trade Agreement (AfCFTA), which submitted its report to President Muhammadu Buhari yesterday, Nigeria will sign the agreement, with conditions authoritative presidency sources have told THISDAY. Read more

    All set for Horn of Africa trade forum focusing on region’s pharmaceutical industry

    Africanews: All is set for the two-day regional trade forum for the Horn of Africa focusing on the implementation of the historic African Continental Free Trade Agreement that went into force on 30 May. Read more

    Dairy imports off to a slow start in Pacific Rim trade deal

    CBC: As dairy, egg and poultry farmers wait for the Liberal government to explain the details of a $3.9 billion compensation package promised in this spring’s federal budget, a serious threat from imports under the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) has yet to emerge. Read more

    UK seeks new no-deal Brexit freight plan

    BBC: Transport companies are being asked to bid to provide extra freight capacity to be used in the event of a no-deal Brexit on 31 October. The hurried ferry procurement process as the UK prepared to leave the EU on 29 March cost taxpayers more than £85m. Read more

    Canada and Mexico may be open to tweaking USMCA: U.S. Democrat

    Reuters: Canada and Mexico may be open to a limited renegotiation of aspects of the United States-Mexico-Canada free trade agreement to satisfy U.S. lawmakers’ concerns, a top U.S. Democrat said on Wednesday, opening the door to its passage in the fall. Read more

    EU signs free trade agreement with Vietnam

    Deutsche Welle: The European Union has signed a landmark free trade deal with Vietnam. With concerns from some lawmakers about the country’s human rights record, the agreement needs approval from the European Parliament. Read more

    U.S. will sanction any countries that import Iranian oil: special envoy

    Reuters: The United States will sanction any country that imports Iranian oil and there are no exemptions in place, the U.S. special envoy for Iran said on Friday. Read more

    G20 summit: Trump and Xi agree to restart US-China trade talks

    BBC: The US and China have agreed to resume trade talks, easing a long row that has contributed to a global economic slowdown. US President Donald Trump and China’s President Xi Jinping reached agreement at the G20 summit in Japan. Read more

    EU to provide 40 billion euros in grants to help create jobs in Africa

    Africanews: The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa. Read more

    Trump Says He’ll Allow China’s Huawei to Buy From U.S. Suppliers

    Bloomberg: President Donald Trump said he’ll allow Huawei Technologies Co. to buy products from U.S. suppliers, in a concession to China after talks with the country’s President Xi Jinping on Saturday. Read more

    Farmers welcome trade truce, hope for more

    WSJ: Farmers and agricultural groups welcomed the U.S.-China trade truce but many said they still need a comprehensive agreement to restore large-scale exports of U.S. crops and meat and lift the fragile farm economy. Read more

    WTO NEWS

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