Caribbean Trade Law and Development

Tag: trade digest

  • Caribbean Trade and Development News Digest – July 12 -18, 2020

    Caribbean Trade and Development News Digest – July 12 -18, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 12-18, 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

    This week members of the World Trade Organization got to officially meet the eight candidates in the running to succeed incumbent Roberto Azevedo as next WTO DG. From July 15-17, each candidate participated in a special meeting of the WTO General Council and took questions from the membership, followed by a press conference. You can also access each candidate’s statement to the General Council once available here and watch the recordings on the WTO’s website here.

    Barbados’ soon to be rolled out special 12-month remote visa programme called the ‘Welcome Stamp‘ has created much excitement and largely positive international headlines. However, the island may soon have competition from other jurisdictions which have also announced digital nomad visas. In early June, Estonia adopted amendments to its laws to create a digital nomad visa programme, while Bermuda this week announced it will be launching a special one-year residential certificate. Read more

    REGIONAL NEWS

    More support for Govt’s new visa plan

    Barbados Today: The Barbados International Business Association (BIBA) has welcomed Government’s proposed 12-month Barbados Welcome Stamp initiative. BIBA President Derrick Cummins told Barbados TODAY there were several benefits that could be derived from the initiative including increased economic activity. Read more

    Now is the moment for CARICOM to re-engage with the Dominican Republic

    Dominican Today: There is a real case to be made for CARICOM setting aside its reservations and seeking an early engagement with the new administration in Santo Domingo, not least because as a former businessman Mr Abinader knows the Anglophone Caribbean. Read more

    LIAT’s creditors to meet July 31

    Barbados Today: Creditors are about to have their say on whether cash-strapped regional carrier LIAT should go into liquidation. Almost three weeks after Prime Minister of Antigua and Barbuda Gaston Browne announced the airline would be liquidated and a new airline formed, LIAT has called a meeting of the company’s creditors to discuss its wrapping up. Read more

    Antigua hopes to save LIAT with legislation

    Nation News: The Antigua and Barbuda government has provided an avenue for the regional airline, LIAT, to seek Court protection rather than being forced into liquidation after it announced that the Companies (Amendment) Act 2020 was gazetted on Wednesday. Read more

    JAMPRO, BSJ Partner To Develop Bamboo Industry

    Jamaica Gleaner: The Jamaica Promotions Corporation (JAMPRO) and the Bureau of Standards Jamaica (BSJ) are increasing their collaboration to develop Jamaica’s bamboo industry, as demand grows globally for renewable material sources for paper and other manufacturing needs. Read more

    Jamaica launches ‘Return to Set’ guidelines as filming resumes

    Loop Jamaica: JAMPRO and the Jamaica Film and TV Association (JAFTA), have officially launched the “Safe Return to Set” industry guidelines that will govern filming during and after the COVID-19 pandemic in Jamaica. Read more

    14 Entrepreneurs to start the OECS-Caribbean export coaching programme

    Dominica News Online: The OECS-Caribbean Export Development Agency’s Technical Assistance and Coaching Programme launched on July 8, 2020 with the aim of strengthening the entrepreneurial and leadership skills of 14 selected young entrepreneurs from six countries of the Eastern Caribbean. Read more

    Grenada to Reduce Airline Ticket Taxes to Encourage Regional Travel

    Caribbean National Weekly: Prime Minister Dr Keith Mitchell has disclosed that Grenada will soon be reducing taxes on airline tickets as part of measures aimed at encouraging intra-regional travel within the Caribbean Community (CARICOM). Read more

    Trinidad & Tobago PM: No Involvement in LIAT

    Newsday: The Trinidad & Tobago Prime Minister implied the Government will not step in to save cash-strapped LIAT by reversing TT’s past surrender of most of its shareholding, speaking at a briefing on Monday at the Diplomatic Centre, St Ann’s. Read more

    Leaders ‘accept’ regional airfare levies too high

    Barbados Today: High airline taxes, long blamed by many regional experts for their role in a slump in intra-regional travel, may, after all, have to be lowered, a Caribbean leader has hinted. Read more

    INTERNATIONAL NEWS

    Brexit no obstacle to WTO leadership bid, says Liam Fox

    BBC: Liam Fox has downplayed the importance of Brexit in his bid to be the first British boss of the World Trade Organization. Read more

    WTO, ICC, B20 Sound Alarm on Diminishing Availability of Trade Finance Amid Pandemic

    IISD: The World Trade Organization (WTO), International Chamber of Commerce (ICC), and Business Twenty (B20) Saudi Arabia have issued a joint statement that shines a spotlight on “the diminishing availability of trade finance.” Read more

    The formidable challenges facing the WTO’s next Director General

    ING: The World Trade Organisation has begun choosing its new Director General, with eight candidates in the running. As if safeguarding the rules of world trade during a pandemic wasn’t challenging enough, dispute settlement needs reform, China’s status within the world trading system has to be addressed, and success partly depends on US voters in the autumn. Read more

    India revives initiative to conclude Preferential Trade Agreement with S African Customs Union

    Economic Times: Discussions between Southern African Customs Union (SACU) [South Africa, Namibia, Botswana, Lesotho, Eswatini] and India to achieve a Preferential Trade Agreement (PTA) have been revived with the two sides holding a virtual meeting last week to discuss various aspects of the PTA. Read more

    US, India Discuss ‘Possibility’ of Free Trade Pact

    VoA: The U.S. and India discussed the “possibility” of a free trade pact, India’s Commerce and Industry Ministry said in a statement Thursday, just days after India began free trade agreement talks with the European Union. Read more

    US cars ‘must be left out of post-Brexit trade deal’

    BBC: Safety experts are urging the UK government to exclude American cars from any post-Brexit trade deal. Read more

    EU, India move closer to free trade deal

    Deutsche Welle: Following an online summit between the European Union and India, the two powers have announced plans to set up a “high-level dialogue” on investment and trade. Details of any potential free trade pact remain uncertain. Read more

    EU talks to rescue €750bn recovery package stall amid heated debate

    The Guardian: European Union leaders agreed to reconvene at noon on Sunday after spending an evening locked in intense negotiations in an attempt to save a summit on the terms of a €750bn (£682bn) pandemic recovery fund from an acrimonious end as the debate over the bloc’s financial future became “heated”. Read more

    Foreign Minister Toshimitsu Motegi eyes Britain trip next month to discuss trade deal

    Japan Times: Foreign Minister Toshimitsu Motegi could visit Britain as early as next month for negotiations on a trade deal that both countries want to finalize this year, government sources said Friday. Read more

    China says will stick with U.S. trade deal, but respond to ‘bullying’

    Reuters: China said on Thursday it will stick to the Phase 1 trade deal it reached with the United States earlier this year but warned that it will respond to “bullying” tactics from Washington, as relations continue to deteriorate. Read more

    Digital trade agreement of 1998 costs India, other developing nations $10 billion per annum

    Business Today: A research paper published by the United Nations Conference on Trade and Development (UNCTAD) suggests that the developing country members of the World Trade Organisation (WTO) maybe losing about $10 billion tax revenues due to a moratorium on customs duties on electronic transmissions (ET) agreed in 1998 and continued since then. Read more

    US-Africa trade will be positively impacted by AfCFTA – Florizelle Liser

    The Africa report: The Corporate Council on Africa (CCA) is the leading business association focused solely on promoting business and investment between the United States and the African continent. In this time of pandemic, both the continent and the US are looking for ways to strengthen their relationship. Read more

    Digital Trade Is the Next Big Thing in Africa

    AllAfrica: Wamkele Mene was recently appointed Secretary General of the African Continental Free Trade Area Secretariat. Because of COVID-19, free trade for countries that have ratified the agreement did not begin, as planned, on 1 July 2020. In this interview with Africa Renewal’s Kingsley Ighobor, Mr. Mene explains the way forward, how increased intra-African trade can boost economies post-COVID-19 and how digital trade will be next big thing on the continent. Read more

    China says its dollar-denominated exports, imports jumped in June, beating expectations of a decline

    CNBC: China’s dollar-denominated exports and imports rose in June, as restrictions eased and countries started to reopen their economies. Read more

    UAE-China trade to surge on the back of strong ties between the two nations

    The National: Bilateral trade between China and the UAE will continue to surge in the coming years on the back of strong relations between the two countries, despite a temporary roadblock caused by the effects of the Covid-19 pandemic, according to top officials. Read more

    Lessons from Covid, China: India needs a new paradigm for trade, industry, and development

    The Indian Express: Promoters of free trade say countries that trade with each other are unlikely to go to war with each other. The volume of India-China trade has been growing for many years. Yet soldiers of the two countries are skirmishing along their borders. Ten years ago, the Indian ambassador to China pointed out that while the volume of trade was growing no doubt, the pattern of trade was worrying. 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 – April 26 – May 2, 2020

    Caribbean Trade and Development News Digest – April 26 – May 2, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of April 26 – May 2, 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

    A possible flattening of the COVID-19 curve in Caribbean? After weeks of shutdowns in most Caribbean countries, some countries are experiencing a slowdown in the new COVID-19 cases and have cautiously embarked on phased re-opening. However, ECLAC has projected the pandemic to lead to the ‘biggest economic contraction’ in Latin America and Caribbean history. Read my article on this here.

    In multilateral trade news, the Multi-party interim appeal arbitration arrangement (MPIA) has been notified to the WTO General Council. The Agreement is a temporary workaround by a group of WTO members to preserve the two-tier dispute settlement system following the demise of the Appellate Body in December 2019. The notification document may be accessed here.

    The EU and Mexico have concluded negotiations for a new trade agreement. Read more here.

    My interview with UWITV’s Devaron Bruce on contemporary Caribbean trade issues begun airing this week. If you have access to the UWITV channel as part of your cable subscription, please feel free to check it out!

    REGIONAL NEWS

    Dominican exporters ask Senate to pass ambitious free trade pact

    Dominican Today: Dominican Exporters Association (Adoexpo) president, Luis Concepción on Wed. asked the Senate to ratify the free trade agreement between the United Kingdom of Great Britain and the members of the Caribbean Forum of African, Caribbean and Pacific States (Cariforum), before 31 December, the date that the benefits granted by that nation under the agreement of the Dominican Republic and the European Union will be repealed. Read more

    BVI to begin exporting fish to the region

    BVI News: Premier Andrew Fahie has said government has started plans to export fish regionally. Speaking in the House of Assembly recently, Premier Fahie said the export initiative will seek to boost the fishing industry in the British Virgin Islands. Read more

    Beans and banana revenues contribute to the first export increase of 2020

    Breaking Belize News: Whіlе Веlіzе’ѕ ехроrtѕ wеrе dоwn fоr thе fіrѕt twо mоnthѕ оf 2020, thе Ѕtаtіѕtісаl Іnѕtіtutе оf Веlіzе (ЅІВ) rероrtѕ thаt thе mоnth оf Маrсh ѕаw аn іnсrеаѕе оf 2.6 реrсеnt duе lаrgеlу tо іnсrеаѕеd ѕаlеѕ оf rеd kіdnеу bеаnѕ аnd bаnаnаѕ. Read more

    Borrowing Not an Option for Caribbean Countries; Access to Concessional Funding, Debt Relief Urgently Needed to Face COVID-19 Crisis

    CARICOM: Prime Ministers, Premiers, Finance Ministers, Financial Secretaries, and other high-level government representatives from 15 Caribbean countries held yesterday a virtual meeting with ECLAC, heads of Caribbean regional organizations and representatives of other UN agencies in the subregion to discuss the economic impact of the COVID-19 pandemic on their economies, already besieged by both climatic and economic shocks, including heavy indebtedness and high exposure to natural disasters. Read more

    COVID-19 and climate change: two sides of the same coin

    Tristan Ward of Caribbean Climate Watch: For many people around the world, 2020 was intended to be a year of clearer vision and progress. However, months into this new decade, the world is at a standstill and its future remains largely uncertain due to the ongoing COVID-19 pandemic. Such uncertainty is compounded by the fact that the relationship between COVID-19 and other global challenges such as Climate Change is not inversely proportional. Read more

    Caribbean states urged to step up exports

    Loop Jamaica: Caribbean Export is urging Caribbean countries to step up on exports as a means of supporting local economies amid the coronavirus (COVID-19) pandemic. Read more

    Realising untapped export potential

    Jamaica Observer: President of Jamaica Promotions Corporation (Jampro) Diane Edwards says there is more than US$61 million in untapped international export opportunities across the main metropolitan markets for Jamaican businesses. Read more

    JAMPRO supports Global Services Association efforts to protect BPO employees, industry during COVID-19

    Jamaica Observer: Jamaica Promotions (JAMPRO) President, Diane Edwards, says the agency supports Global Services Association of Jamaica (GSAJ) efforts in working with operators in the industry to protect employees in the outsourcing sector and to prevent major long-term disturbances in services for the industry due to COVID-19. Read more

    COVID-19 Pandemic and the Caribbean: Navigating Uncharted Waters

    IMG Blog: As the COVID-19 pandemic continues to spread across the globe—bringing severe human and economic costs—the Caribbean is no exception. With over 1,000 confirmed cases, many countries have taken strong containment measures, such as border closures and lockdowns, to “flatten the curve.” Read more

    The Caribbean could face a potential shortage in meat protein

    Loop Cayman: According to the Food and Agriculture Organization, the Caribbean imported $220.2 million US dollars worth of meat and poultry, representing 5 per cent of all agricultural imports into the Caribbean in 2011. Red meat and poultry accounted for 39 per cent of US exports to the Caribbean of consumer-oriented products in 2011 (USDA). Read more

    IMF sees Caribbean economy shrinking 6.2% in 2020 due to pandemic

    Reuters: A sudden stop in tourism caused by border closures and lockdowns aimed at containing the coronavirus pandemic will cause a 6.2% contraction of the Caribbean economy in 2020, the deepest recession in over half a century, the IMF said on Wednesday. Read more

    Rice production so far unaffected by COVID-19 – GRDB

    Stabroek: The Guyana Rice Development Board (GRDB) has expressed confidence that rice production this year would be “excellent” despite the novel coronavirus pandemic fallout and assures that that there will be adequate supplies for local, regional, and extra-regional markets. Read more

    SM Jaleel cuts wages, work hours as COVID hits exports

    Trinidad Guardian: Soft drink manufacturer SM Jaleel has reduced the salaries and hours of work of some employees at its plant at the Otaheite Industrial Estate in South Oropouche as it makes adjustments during the COVID-19 pandemic. Read more

    First Tobago enterprise to secure grant for business expansion

    Trinidad Guardian: J Mac Industries Limited is the first Tobago company to receive funding from Government’s Grant Fund Facility (GFF). Entrepreneurs, Mr. Edward Jones and Ms. Glewis Jones, Managing Directors of J Mac Industries Limited, received funding for their company’s business operations and export expansion. Read more

    INTERNATIONAL NEWS

    Ten-point plan to bolster global transport, ease trade during COVID-19

    UNCTAD: UNCTAD issues an action plan to tear down barriers to trade and transport and ensure the free flow of goods, food and essential supplies. Read more

    ICC and the World Customs Organization (WCO) have issued a joint statement calling for increased action on customs and trade facilitation to ensure an effective response to the COVID-19 pandemic.

    ICC: In a joint statement, issued today, ICC Secretary General John W.H. Denton AO and WCO Secretary General Kunio Mikuriya say effective trade facilitation – based on international standards – will play a central role in enabling business continuity and renewed economic growth. Read more

    U.S. trade authorities keeping tabs on Canada’s coming changes to drug prices

    CTV: The United States is keeping Canada on its “watch list” of countries where policies and practices could pose a threat to American intellectual property rights. Read more

    Is the global trading system unravelling before our eyes? Here is where things stand

    CBC Canada: The modern history of global trade is being written at warp speed, with a dizzying series of developments now testing the international trading system. Read more

    S.Korea’s exports suffer worst slump in 11 years as pandemic shatters world trade

    Financial Post: The coronavirus crisis sent South Korean exports plunging in April at their sharpest pace since the global financial crisis, signaling a bleak outlook for international trade as the pandemic paralyzes the world economy and shatters demand. Read more

    Electronics lift ASEAN to China’s top trade partner in Q1

    CGTN: In the first quarter of this year, ASEAN surpassed the EU to become China’s biggest trading partner, accounting for 15 percent of China’s trade in the first three months. Read more

    Joint statement by WTO Director-General Roberto Azevêdo and WHO Director-General Tedros Adhanom Ghebreyesus

    WHO: COVID-19 has rapidly progressed to become a global pandemic, causing unprecedented, far-reaching impact on the health, social and economic well-being of communities around the world. Read more

    AfCFTA and the Upcoming Protocol on Investment: What Can Investors Expect?

    Global Arbitration Review: In 2012, African states set out with the ambition to establish an unprecedented ‘Continental Free Trade Area’. Read more

    E-Commerce protocol incorporated into AfCFTA phase III

    Ghanaweb: Despite a potential delay regarding Phase I implementation of African Continental Free Trade Area (AfCFTA), the African Union Commission has incorporated an Electronic Commerce (e-commerce) protocol into the pan African trade agreement. Read more

    India weighing RCEP’s fresh proposal to re-join talks

    Hindu Business Line: India is considering a fresh proposal sent by the Regional Comprehensive Economic Partnership (RCEP) members, that include the ASEAN, China, South Korea and Japan, asking it to re-join the negotiations and also indicating that some of the terms laid down by the country when it quit the talks last year may be met, an official has said. Read more

    How global trade will fare post-Covid

    Hindu Business Line: Global supply chains supporting manufactured products in developed countries have taken deep roots over the last couple of decades, leveraging the lower cost of labour in China and other Asian countries. Read more

    Fears Brexit talks could collapse in June but UK still optimistic

    The Guardian: The UK is still optimistic about striking a trade deal with the EU but has warned that talks could collapse in June unless Brussels abandons its demands for a common fisheries policy and a level playing field, a source close to the UK’s negotiating team has said. Read more

    The Pacific Aid For Trade Strategy (PAfTS 2020-2025) Development Partners’ Roundtable

    Scoop NZ: The Pacific Islands Forum Secretariat and development partners are mobilising support for the Pacific Aid for Trade Strategy (PAfTS) 2020-2025. A consultative virtual teleconference roundtable with development partners was held on 22 April 2020 as an initial step. Read more

    US Cuts to Thailand’s Free-Trade Benefits Take Effect

    VoA: Thailand is set to lose duty-free access for $1.3 billion in exports to the U.S. market today, six months after Washington warned it would pull back on trade privileges unless the country committed to more labor rights reforms. Read more

    Boris gives ‘green light’ for Brexit Britain to start formal US trade talks next week

    Express UK: Britain is set to start trade talks with the US next week, according to reports. Read more

    More flexible trade rules await Mercosur after Argentina pullout

    Buenos Aires Times: Argentina’s controversial decision to pull out of new trade negotiations involving the Mercosur bloc is a move that could pave the way for the largest transformation of the regional trade grouping since its foundation 25 years ago. Read more

    Uruguay and Argentina presidents discuss the future of Mercosur

    Mercopress: Uruguayan president Luis Alberto Lacalle Pou and his Argentine peer, Alberto Fernandez held a half-hour video conference Tuesday mid-morning to address the recent decision by the current Argentine administration to freeze Mercosur free trade negotiations with potential new partners and instead concentrate efforts in overcoming the COVID-19 pandemic and its sanitary, social, economic and employment consequences. Read more

    Russia Cuts Off Wheat, Other Grain Exports

    VoA: The Russian Agriculture Ministry announced Sunday that it was suspending its export of most grains until July 1, seemingly ignoring warnings from international organizations who are asking countries not to disrupt global food supply chains during the current COVID-19 pandemic. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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

  • Caribbean Trade & Development News Digest – February 10-16, 2020

    Caribbean Trade & Development News Digest – February 10-16, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of February 10-16, 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 USTR published a report reiterating its past critiques of the now defunct WTO Appellate Body.

    Coming up this week, CARICOM Heads of Government will meet in Barbados February 18-19 for their 31st Inter-sessional Meeting. Canadian Prime Minister, Justin Trudeau, who was scheduled to attend, had to cancel at the last minute due to address current infrastructure disruptions.

    REGIONAL NEWS

    European Union, CDB Launch Standby Facility for Capacity Building

    The Voice: The EU and CDB today launched a new round of the Standby Facility for Capacity Building. Read more

    Can the Caribbean end its brain drain?

    The Voice (UK): In recent years, concerns have been growing that the Caribbean region is losing a high percentage of its skilled population. Here, Lyndon Mukasa examines the origins and possible solutions to this exodus of top talent. Read more

    Remittance fees too high in the Caribbean

    Trinidad Express: Remittance fees are too high in the Caribbean, says economist Marla Dukharan. “Remittance fees in the Caribbean are nearly double those of Central America, which is also another heavily dependent region on remittances. Read more

    INTERNATIONAL NEWS

    New ACP-EU Partnership: Moving forward towards a new partnership fit for the future

    Modern Diplomacy: Today, new impetus was given to the post-Cotonou negotiations on a new agreement between the EU and African, Caribbean and Pacific countries (ACP) as the two chief negotiators agreed on the way forward. Read more

    Cambodia: EU Partially Suspends Trade Preferences

    Human Rights Watch: The European Commission on February 12, 2020, announced the partial suspension of Cambodia’s preferential trade preferences with the European Union after the government failed to address serious human rights concerns, Human Rights Watch said today. Read more

    UK to outline post-Brexit trade vision as France warns both sides could ‘rip each other apart

    Euronews: The British government is to outline its vision for a trade deal with the EU in Brussels on Monday, as both sides crank up the rhetoric ahead of the start of formal post-Brexit talks next month. Read more

    UK government spent £500,000 on travel to Brexit negotiations

    The Guardian: Huge bill on travel to and from Brussels reflects Theresa May’s drawn-out approach to negotiations. Read more

    EU Parliament approves EU-Vietnam free trade and investment protection deals

    Europarl: The EU-Vietnam trade agreement, the “most modern and ambitious agreement ever concluded between the EU and a developing country”, got Parliament’s backing on Wednesday. Read more

    Trump: Time to negotiate ‘very seriously’ with EU on trade

    Euractiv: President Donald Trump said Monday (10 February) the time has come to pursue trade negotiations with the European Union which he said imposes “incredible” barriers to US goods. Read more

    Iran-EU Trade Down 71.5%

    Financial Tribune: Iran exported €701.14 million worth of commodities to EU, indicating a 92.59% fall, and imported €4.52 billion in return to register a 49.16% year-on-year decline. Read more

    ‘Pakistan-Turkey Free Trade Agreement talks in April’

    AA: Top Pakistani commerce official says 2 sides agreed to begin long-awaited FTA negotiations in April. Read more

    ‘A reform-or-die moment’: Why world powers want to change the WTO

    CNBC: The United States, Europe and China have clashed over trade policy for several years and tensions could continue for decades without serious reform, experts have told CNBC. Read more

    Explained: What does India’s removal from USTR list of developing countries mean?

    Indian Express: Until February 10, 2020, India was on the USTR’s list of developing countries, making it eligible for preferential treatment against CVD investigations and de minimis thresholds. It will no longer get this benefit. Read more

    Coronavirus Threatens to Blow Up Trump’s Energy Trade Deal With China

    Foreign Policy: The goals were never realistic, but now Beijing has good reason to back away from its purchase commitments to Washington. Read more

    Pompeo in Senegal: Africa caught in US-China trade war

    Al Jazeera: The US is sending mixed messages to the continent, they want to do business, but are not open to all African countries. Read more

    Kenya will be in breach of EAC, AfCFTA rules in proposed trade deal with America

    The East African: Kenya’s proposed free trade deal with the US has put it in the crosshairs as critics say the planned bilateral agreement would be a breach of regional and continental trade protocols. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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

  • Caribbean Trade & Development News Digest – August 11 -17, 2019

    Caribbean Trade & Development News Digest – August 11 -17, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of August 11-17, 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

    ECLAC’s Foreign Direct Investment in the Latin America and Caribbean Report 2019 revealed that while FDI to the entire LAC region increased by 13.2% in 2018 versus 2017, in the Caribbean, inflows shrank by 11.4% due to lower investment in the Dominican Republic ($2.535 billion dollars, -29%). Read the report here.

    The WTO has also reported that the growth of world merchandise trade volumes is likely to remain weak in the third quarter of 2019 according to that organization’s Goods Trade Barometer, released on 15 August. Read more

    It was announced that the UN will be hosting its first ever Trade Forum on September 9-13, 2019 and will be entitled “SDGs and Climate Change”.

    REGIONAL NEWS

    New Customs Act (2019) to promote Jamaica’s socio-economic development

    Jamaica Observer: Arising from a decision of Cabinet in 2017, the Jamaica Customs Agency (JCA) was tasked with the responsibility to develop a new legislative framework which would further promote business opportunities for Jamaica, particularly in the areas of shipping, logistics and international trade. Read more

    Eel Export Tax Jumps from 42¢ to $16.00 per kg

    Haiti Sentinel: A memorandum from the Ministry of Agriculture, Natural Resources and Rural Development (MARNDR) dated August 12, 2019 stated that “from now on, the export costs of the eels are set at 1,500 gourdes ($15.77 [USD]) per kilogram.” Read more

    Haiti and Dominican Republic Teaming Up against Cocoa Cultivation Threat

    Haiti Sentinel: Haiti and the Dominican Republic, together with representatives of the private sector of both countries, are working to define and apply a common strategy to prevent an eventual occurrence of moniliasis, a disease that attacks cocoa crops. Read more

    Green welcomes mapping of Jamaica’s cultural, creative industries

    Jamaica Observer: Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Floyd Green, says the Mapping of Cultural and Creative Industries in Jamaica will increase the awareness of the island’s resources and give an accurate valuation of the industries. Read more

    Belize Minister of Investment leads delegation visit to Taiwan

    Breaking Belize News: Minister of State for Investment, Tracy Panton, and an accompanying delegation visited the Republic of China (Taiwan) this week as one of several activities commemorating the 30th anniversary of Belize and Taiwan’s diplomatic relationship. Read more

    Delays at the Port costing Barbados government

    Barbados Today: Goods imported into Barbados take four times as long as they do in neighbouring St Lucia to be cleared, the head of the Port of the Bridgetown has revealed, complaining of the cost of the delay to Government. Read more

    Belize and Republic of China (Taiwan) strengthening ties through new agreement

    Breaking Belize News: Today, the Government of Belize (GOB) and the Government of the Republic of China (Taiwan) (RoC) signed a Letter of Intent (LOI) to engage in the negotiation of a Partial Scope Agreement (PSA) geared towards formalizing trade relations between the two countries. Read more

    The Bahamas’ Ease of doing business committee satisfied with improvements

    The Nassau Guardian: Chair of the National Ease of Doing Business Committee (EODB) Lynn Holowesko said the committee is very pleased with many of the policies introduced in the 2019/2020 budget aimed at improving the business climate in the country, particularly surrounding immigration, conveyance valuations and estate planning. Read more

    Customs Fraud Fighting Initiative Launched in The Bahamas

    The Bahama Journal: The Bahamas Customs Department and Deputy Prime Minister Peter Turnquest introduced the new online portal Click2 Clear, which is designed to protect against customs fraud. Read more

    Guyana working closer with India to build solar energy capacity

    Kaieteur News: The Head of State noted that the relations between the two countries continue to be enhanced by high-level engagements between officials of both states as Guyana would have signed and ratified the Framework Agreement of the International Solar Alliance in January 2018 under his tenure. Read more

    Chastanet Meets With US Delegation

    The Voice: St Lucia Prime Minister met with representatives of the US House of Representatives. Read more

    CBU President calls for preservation of indigenous broadcasters

    RJR: President of the Caribbean Broadcasting Union (CBU), Gary Allen has expressed the need for a sincere commitment to the preservation of indigenous broadcasters in recognition of the integral role they play in social and economic development. Read more

    Sugar Association of the Caribbean wants governments to tax sugar coming outside of CARICOM

    Breaking Belize News: The Sugar Association of the Caribbean (SAC) is calling for Caribbean Community (CARICOM) nations to place Common External Tariffs (CETs) on white sugar imported from outside the region to strengthen the regional market. Read more

    EU releases food for Haiti in response to food crisis

    Jamaica Observer: The European Union (EU) has released €9 million in humanitarian aid to Haiti, in response to the deteriorating food and nutrition situation in the French-speaking Caribbean Community (Caricom) member state. Read more

    T&T Prime Minister envisions one border for region as Carifesta begins

    LoopTT: Carifesta XIV opened on Friday night with Trinidad and Tobago Prime Minister Dr Keith Rowley calling for regional unity. Read more

    Time to Fully Implement CSME

    Trinidad Guardian: If ever there was op­por­tu­ni­ty and ne­ces­si­ty for Cari­com coun­tries to ful­ly im­ple­ment the 30-year old Cari­com Sin­gle Mar­ket and Econ­o­my, the “sub­dued glob­al eco­nom­ic ac­tiv­i­ty and glob­al trade” of the present makes it the right “Time for Ac­tion.” Read more

    Caricom’s Assistant Secretary General, CSME is not a dream

    Trinidad Guardian: The CARI­COM sin­gle mar­ket and econ­o­my (CSME) and CARI­COM is not a fan­ta­sy but a con­crete sit­u­a­tion that is mov­ing for­ward. This is ac­cord­ing to CARI­COM’s As­sis­tant Sec­re­tary-Gen­er­al in the Di­rec­torate for Trade and Eco­nom­ic In­te­gra­tion, Joseph Cox. Read more

    Water Scarcity May Be New Way of Life for Caribbean, St. Kitts and Nevis Minister warns

    CARICOM: Minister of Public Infrastructure, Honourable Ian “Patches” Liburd, says that climate change related challenges such as floods, sea level rise, drought and extreme weather conditions are the new norm for the Caribbean. Read more

    INTERNATIONAL NEWS

    Ottawa announces $1.75-billion compensation for dairy farmers to offset impact of trade deals

    Financial Post: Agriculture minister says Liberals are committed to no longer cede market share in the dairy sector in future international free trade negotiations. Read more

    Australian Government releases list of items the EU wants protected in free trade deal

    News.au: Australian cheesemakers could be dealt a major blow as the European Union targets the naming rights to some of the most popular products. Read more

    Cambodia-European Union trade deal is on the chopping block

    Al Jazeera: Accusations of human rights abuse by the Cambodian government may force the end of a preferential trade agreement. Read more

    Brazil’s Guedes threatens to quit Mercosur if populist opposition wins Argentina election

    Reuters: Brazil will pull out of the Mercosur trade bloc if the opposition party wins Argentina’s presidential elections later this year and closes the economy with protectionist policies, Brazil’s Economy Minister Paulo Guedes said on Thursday. Read more

    US retailers to rely on Vietnam amidst exits from China’s textile industry

    Singapore Business Review: Vietnam’s textile sourcing rose 13% YoY in Q1 2019.Vietnam is expected to benefit the most from plans by US retailers to diversify production to other manufacturing hubs and reduce reliance on China for their textile needs, according to a Fitch Solutions report. Read more

    India’s export basket skews towards services, pulls down trade deficit

    Livemint: India’s export basket is undergoing a silent transformation, a trend that explains why the services sector, which accounts for about half of India’s gross domestic product (GDP), is doing better than other segments of the economy. Read more

    US-China trade war hits Africa’s cobalt and copper mines with 4,400 jobs expected to vanish

    South China Morning Post: The US-China trade war is partly to blame for Anglo-Swiss mining giant Glencore’s move to shut a cobalt mine in the Democratic Republic of Congo and copper mining shafts in Zambia, with the probable loss of about 4,400 jobs, analysts say. Read more

    China Makes Up US Trade War Deficit by Buying from ASEAN, Belt and Road Countries

    China Briefing: China is balancing the US trade slowdown with more bilateral trade with ASEAN and Belt and Road Initiative countries. Read more

    US-UK trade pact ‘won’t pass Congress if Good Friday deal undermined’

    Euronews: There is no chance that a trade agreement between the United States and Britain will pass Congress if Brexit undermines the Good Friday peace accord between Ireland and Northern Ireland, US House Speaker Nancy Pelosi said on Wednesday. Read more

    UK ‘first in line’ for US trade deal, says John Bolton

    BBC: The UK is “first in line” for a trade deal with the US, President Trump’s national security adviser has said. John Bolton said the US supported a no-deal Brexit and added Washington would propose an accelerated series of trade deals. Read more

    Norway Freezes Support For Amazon Fund: EU/Brazil Trade Deal At Risk? – Analysis

    Eurasia Review: Ola Elvestrun, Norway’s environment minister, announced Thursday that it is freezing its contributions to the Amazon Fund, and will no longer be transferring 300 million Norwegian Krone (US$33.2 million) to Brazil. Read more

    Nigerian Traders Seek National Assembly’s Ratification of AfCFTA Agreement

    AllAfrica: The National Association of Nigerian Traders (NANTS) has advised the National Assembly to urgently ratify the African Continental Free Trade Area (AfCFTA) agreement to ensure its speedy implementation. Read more

    Ghana is best entry point for foreign investors to Africa – Trade Minister

    Ghanaweb: Alan Kyerematen, Minister of Trade and Industry, has said that Ghana is the best entry point for foreign investors to do business in Africa because of its investor-friendly policies. Read more

    Sadc launches Business Council

    The Chronicle: Southern African Development Community (Sadc) has officially launched a new Business Council, an over-arching regional private sector platform aimed at increasing collaboration with the public sector and accelerating regional economic development and industrialisation. Read more

    Brexit: judge fast-tracks challenge to stop Johnson forcing no deal

    The Guardian: Hearing in Edinburgh to block suspension of parliament backed by more than 70 MPs. Read more

    EU’s Juncker tells Britain: no-deal Brexit will hurt you the most

    EURACTIV: A no-deal Brexit would hurt Britain more than the rest of Europe no matter how much Prime Minister Boris Johnson’s government pretends otherwise, outgoing European Commission President Jean-Claude Juncker said in remarks published on Saturday (10 August). Read more

    US and Britain discuss trade deal that could take effect on 1 November

    EURACTIV: Britain and the United States are discussing a partial trade accord that could take effect on 1 November, the day after Britain is due to leave the European Union, a senior Trump administration official said on Tuesday (13 August). Read more

    Trump threatens to pull out of WTO

    WTO: At the site of an under-construction petrochemicals plant in Monaco, Pa., for a speech Tuesday that was to be about energy policy, Trump said that the United States has been taken advantage of by WTO member states, especially China, for too long — and it was about to stop. Read more

    ‘India, China No Longer Developing Nations, Will Not Let Them Take Advantage’: Trump Flays WTO Status

    News 18: Earlier in July, Trump asked the WTO to define how it designates developing-country status, a move apparently aimed at singling out countries like China, Turkey and India which are getting lenient treatment under the global trade rules. Read more

    India’s seafood exports to EU to be hit after Vietnam-EU free trade pact

    Hindu Business Line: India’s seafood exports to the European Union is set to drop sharply this year after its biggest competitor Vietnam signed a free trade agreement (FTA) with the European Bloc in July that helps it export products to the EU without any customs duty, according to the Maharashtra region head of the seafood exporters body. Read more

    US-China trade war — The unlikely European winners

    Deutsche Welle: The imminent US tariffs on Chinese goods are expected to throw up some unexpected winners in Europe, a study shows. The gains for the European countries are only likely to increase if China chooses to retaliate. Read more

    European Commission proposes adjustments to the existing safeguards for steel

    EU: The Commission today presented a proposal for adjustments to the existing safeguard measures for steel. Read more

    South Korea hits back at Japan in WW2 dispute

    BBC: South Korea has said it will take Japan off its favoured trade partners’ list. Read more

    WTO NEWS

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