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Caribbean Trade Law & Development is pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World for the weeks of November 20-December 3, 2016.
For past issues of our weekly Caribbean Trade & Development Digest, please visit here.
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REGIONAL
Belize Senate criticises Belize-Guyana Trade Pact
7 News Belize: One of the motions which we didn’t get a chance to tell you about, was a resolution tabled by the Government. It authorizes the Barrow Administration to ratify a Framework agreement between the Governments of Belize and Guyana for bilateral cooperation.Read more
IDB Loan will support economic developent and foreign trade in Guyana
Caribbean News Now: Guyana will improve its public infrastructure and promote economic diversification and foreign trade with a US$9 million Inter-American Development Bank (IDB) loan that will help strengthen the economy and stimulate exports and investments. Read more
Guyana seeking to register Demarara as Geographical Indication
Stabroek: The Commercial Registry here has received applications for Demerara Sugar, Demerara Molasses and Demerara Rum. Minister of Foreign Affairs Carl Greenidge said that recapturing the name provides opportunities for producers to obtain market recognition. Read more
ExporTT Chairman: T&T must improve trade with EU
Trinidad Guardian: Incoming chairman of ExporTT Ashmeer Mohammed said the agency is committed to improving trade with the European Union (EU) and arresting the current decline in trade between T&T and the EU. Read more
Region’s exports fall five percent
Trinidad Guardian: The Economic Commission for Latin America and the Caribbean’s (Eclac) annual report Latin America and the Caribbean in the World Economy 2016 shows that the foreign trade dynamics of the region are having their worst performance in eight decades. Read more
Illicit Cigarette Trade Booming
LoopJamaica: The illicit cigarette trade now accounts for a fifth of the local market, according to cigarette distributor Carreras Limited. Read more
Entities partner to grow exports
JIS: Four private- and public-sector bodies have signed a memorandum of understanding (MOU), agreeing to work together to grow national exports to US$2.5 billion by 2020. Read more
Belize and Jamaica squash “beef” over patties
Breaking Belize News: On November 17, Jamaica’s Minister of Industry, Karl Samuda successfully met with Minister of Trade and Commerce, Tracey Panton, in Guyana during the 43rd meeting of CARICOM’s Council for Trade and Development. Read more
Jamaica, EU discuss moving EPA to full implementation
Jamaica Observer: Minister of Foreign Affairs and Foreign Trade Kamina Johnson Smith, in highlighting the concerns of the Jamaica’s private sector about the challenges faced in accessing the European Union markets, said that Jamaica’s strength and advantages in its services sectors would be greatly unlocked if there was a special visa regime between CARIFORUM and European Union (EU) countries. Read more
Kenya: President Roots for Increased Trade between Kenya, Latin America & the Caribbean
allAfrica: President Uhuru Kenyatta has called for increased trade between Kenya, the Latin America and Caribbean regions.Read more
INTERNATIONAL
Maersk Line to Acquire Hamburg Süd
Maersk Line: Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals. Read more
OPEC Reaches Oil Output Reduction Agreement
Global Trade Magazine: The thirteen members of the Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, reached an agreement yesterday to reduce oil output by 1.2 million barrels a day beginning next month. Read more
China says its will promote trade deals regardless of TPP, RCEP Direction
Reuters: China said it will actively participate in bilateral and multilateral trade deals, with the goal of deepening reform and opening up its economy, regardless of the direction the Trans Pacific Partnership (TPP) or the China-backed Regional Comprehensive Economic Partnership (RCEP) might take. Read more
Singapore leads global trade ranking for the fifth time
SBR: Its domestic market is rated as world’s most open.Singapore topped the Global Enabling Trade Report 2016 once again. Read more
EU-Georgia Free Trade Deal Boosting Trade Flows
Tax News: Trade flows between Georgia and the EU increased 16 percent in 2015, the first full year since the Deep and Comprehensive Free Trade Area (DCFTA) was provisionally applied.The EU-Georgia Association Agreement, which includes a DCFTA, was provisionally applied from September 2014. It fully entered into force on July 1, 2016. Read more
Sanders to introduce US ‘Outsourcing Tax’ Legislation
Tax News: US Senator Bernie Sanders has stated his intention to introduce legislation into Congress that would impose an “outsourcing tax” on companies moving jobs out of the United States, as well as stripping them of their US tax breaks and benefits. Read more
China urges U.S. to abide by WTO anti-dumping agreement
Reuters: China on Friday urged the United States to abandon a surrogate country approach it uses to calculate anti-dumping measures against Chinese exports, as a related clause in China’s World Trade Organization (WTO) deal is set to expire. Read more
MEPs reject call for Court Review of CETA
Tax News: The European Parliament has rejected a request by 89 Members of European Parliament to refer the EU-Canada Comprehensive Economic and Trade Agreement to the European Court of Justice for an opinion. Read more
China, New Zealand To Upgrade FTA
Tax News: The launch of negotiations to upgrade the existing China-New Zealand free trade agreement (FTA) was announced on November 21, following a meeting between Chinese Commerce Minister Gao Hucheng and New Zealand’s Trade Minister Todd McClay at the Asia-Pacific Economic Cooperation Summit in Lima. Read more
Next Round of RCEP Negotiations in Jakarta Dec 5
Economic Times: The single-tier system of duty relaxation under the proposed mega trade deal RCEP will be the central issue to be discussed at the next round of negotiations of 16 countries, including India and China, in Jakarta from December 5. Read more
WTO chief says no indication Trump wants to take US out of WTO
Reuters: World Trade Organization chief Roberto Azevedo said on Thursday he had no indication that U.S. President-elect Donald Trump wanted to withdraw the United States from the global trading body. Read more
NEW ON CARIBBEAN TRADE LAW & DEVELOPMENT
President-elect Trump’s trade team takes shape: What implications for the Caribbean?
Happy Independence! Tribute to Barbados at 50
Dominica Ratifies WTO Trade Facilitation Agreement
WTO Panel Rules Tax Incentive to Boeing a Prohibited Subsidy
Fidel Castro; Friend to the Caribbean & Anti-Imperialist Hero
TPP: Trump to withdraw from the Agreement on Day One
For past issues of our Caribbean & Trade Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.
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