Caribbean Trade Law and Development

Tag: trade news digest

  • Caribbean Trade and Development News Digest – February 7 – 13, 2021 – The Love of Trade Edition!

    Caribbean Trade and Development News Digest – February 7 – 13, 2021 – The Love of Trade Edition!

    Welcome to the Caribbean Trade and Development News Digest – The Love of Trade Edition for the week of February 7-13, 2021! Happy Valentine’s Day to all readers who celebrate! If I were to pick a discipline as a Valentine, it would indeed be international trade! My love for this dynamic field just grows with each passing year!

    We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world.

    THIS WEEK’S HIGHLIGHTS

    The five Micronesian member states of the Pacific Islands Forum have decided to leave the bloc as a result of the appointment of a Cook Islander as the new Secretary General, overlooking the Micronesian candidate. This development has led to questions on the bloc’s future. Read more here.

    Post-Brexit hiccups continue, with a British Chamber of Commerce survey finding that “half (49%) of exporters are facing difficulties in adapting to the changes in the trade of goods following the ratification of the UK-EU Trade and Cooperation Agreement (TCA) on 1 January 2021”. Read more here.

    The UK Government has published a new series of fact sheets showing the UK’s trade and investment relationship with various countries, including those in the Caribbean. Read more here.

    UNCTAD released its Global Trade Update on February 10, finding that East Asia manufacturing is leading the global trade recovery. However, it further found that many developing countries have been lagging behind in their trade recovery. Read the full report here.

    Coming up this week on February 15, there will be a Special General Council Meeting at the WTO where Dr. Ngozi Okonjo-Iweala will be confirmed as the organisation’s seventh Director-General.

    Turning regionally, kudos to the Government of India for its show of solidarity and friendship in donating doses of the Oxford/Astra Zeneca vaccines to the Governments of Barbados and Dominica and to the Caribbean, upon initial engagement by Barbados and Dominica. In turn, Barbados donated 3,000 doses of the received vaccines to the Government of Guyana, including the CARICOM Secretariat which is headquartered in Guyana.

    REGIONAL NEWS

    Project to help reduce barriers to trade

    Barbados Advocate: A regional project launched yesterday is intended to reduce barriers to trade and will aid fledgling manufacturers and other exporters. Read more

    Plans continue for UNCTAD XV

    Barbados Advocate: Plans are continuing apace for this island’s hosting of the United Nations Conference on Trade and Development (UNCTAD) later this year. Speaking in Parliament as an additional $2,280,000 was assigned to the event’s organisation, Minister in the Ministry of Finance Ryan Straughn stated these funds were intended specifically for the procurement of security equipment. Read more

    Trade Policy Framework: Guyana

    UNCTAD: Trade policy encompasses the development and implementation of national laws, regulations, and standards to facilitate, promote or otherwise support trade relations between countries and the crossborder movement of tradeables. Effective trade policy is both a prerequisite for and a consequence of the negotiation and implementation of bilateral and multilateral trade agreements between and among countries. Read more

    Best for CARICOM to purchase Covid-19 vaccines as a group – experts advise

    Jamaica Gleaner: Two days ago, on the morning of Friday, February 12, Charles Savarin, the 77-year-old president of the sister Caribbean Community (CARICOM) state of Dominica, became the first person in his country to be vaccinated against COVID-19. Read more

    Caricom must order 20 million vaccines

    TT Newsday: Kiran Mathur Mohammed & Justin Ram argue that countries must join forces now to buy 20 million vaccine doses for the entire region, or the pandemic will continue to devastate our lives and economies for another two years. Read more

    New Bill approved

    Barbados Advocate: The Barbados Cabinet has approved the development of a new, comprehensive Metrology Bill to be enacted in legislation. Read more

    IMF: Pandemic resurgence threatens to thwart uneven Caribbean recovery

    IMF: The International Monetary Fund, IMF, says while Latin America and Caribbean economies managed to bounce back from COVID-19’s initial economic devastation in early 2020, the pandemic’s resurgence towards the end of the year threatens to thwart an uneven recovery and add to steep social and human costs. Read more

    Pay Attention to Maduro’s Aggression Against Guyana

    Real Clear World: In late January, the Venezuelan Navy intercepted and detained two Guyanese fishing vessels and 12 Guyanese citizens for two weeks. The detainment was the result of a recent decree issued by Venezuela’s leader, Nicolás Maduro. Read more

    INTERNATIONAL NEWS

    Pacific Forum split could cost region’s global role

    RNZ: Breaking up the Pacific Islands Forum would be a lost opportunity to cement the region’s global leadership on climate change and ocean conservation. Read more

    New WTO chief faces rough road ahead

    Politico.eu: Ngozi Okonjo-Iweala will make history Monday when she becomes the first African and woman to lead the increasingly bruised and batteredWorld Trade Organization. Read more

    6 reasons why Africa’s new free trade area is a global game changer

    World Economic Forum: The arrival of COVID-19 in 2020 has rapidly reshaped countries, societies and communities. Our response to the pandemic has changed political and social systems and created new social norms. Read more

    A new WTO boss who understands Africa is a good thing for the global economy

    City A.M: After diplomatic horse-trading, the new head of the WTO has been all but confirmed – former Nigerian finance minister Ngozi Okonjo-Iweala. She will be the first African to take the role. The Rt. Hon. Mark Simmonds, a former Foreign Office minister with responsibility for the continent, argues it’s a good thing for the globe. Okonjo-Iweala’s familiarity with Nigeria’s struggles will make her a strong appointment to launch a truly global effort that spreads the benefits of freer trade. Read more

    UNCTAD releases data on over 1,000 investor-state arbitration cases

    UNCTAD: The data set, provided free of charge, covers all known cases of treaty-based investor-state arbitrations as of July 2020. Read more

    EU financial services chief warns of long road ahead for UK-EU equivalence deal

    City A.M: The EU’s financial services chief has warned the UK that “there cannot be equivalence and wide divergence” in financial regulation as the battle over the City’s future relationship with the bloc heats up. Read more

    UK and EU hold ‘frank but constructive’ talks on NI trade rules

    BBC: The UK and the EU have had a “frank but constructive discussion” on problems implementing post-Brexit trade rules in Northern Ireland. Read more

    UK trade and investment factsheets

    UK.gov: A snapshot of the UK’s trade and investment positions with individual trading and investment partners overseas. Read more

    Exclusive: Brexit a bigger headache for business leaders than Covid pandemic

    City A.M: Brexit represents a bigger challenge to most UK businesses than the Covid-19 pandemic, as additional paperwork, unexpected costs and new regulatory requirements make life more difficult than temporary lockdowns. Read more

    Brexit: Trade friction ‘not teething problems’

    BBC: Increased friction in trade and travel with Europe is a product of “political choices”, a Welsh minister has said. Read more

    Half of UK exporters to EU are having Brexit difficulties, survey finds

    Guardian: Half of British exporters to the EU are facing difficulties with mounting Brexit red tape and border disruption after a month of the new rules, according to one of the most comprehensive business surveys since leaving the bloc. Read more

    Improving access to medical products through trade

    UNCTAD: Based on a review of 107 RTAs and an examination of country efforts to reduce regulatory divergence in order to facilitate trade in medical goods during the pandemic, this study attempts to advance the discussion on the need for emergency provisions in RTAs, culminating into a proposal for model RTA provisions. Read more

    Chinese tech giants like Kuaishou are listing in Hong Kong instead of U.S. after Trump’s trade war

    CNBC: Venture firm DCM just generated a $16 billion return from the IPO of Chinese social media app Kuaishou. The listing took place in Hong Kong rather than in the U.S., and DCM co-founder David Chao expects China’s most prominent tech start-ups to follow suit. Read more

    China’s trade sanctions on Australian agriculture force farmers to find new markets

    ABC (Australia): Farmers who fell victim to the multi-billion-dollar China-Australia trade spat are seeing signs for optimism as they find new customers for their produce. Read more

    Kenya, Uganda renew milk export dispute as ties sour

    Business Daily: Kenya and Uganda trade relations are on the verge of straining once again with Kampala accusing Nairobi of stopping its milk from accessing the country, and threatening to drag the matter to the East African Court of Justice. Read more

    China-Australia relations: Africa’s winemakers, miners toast ‘potential’ of trade dispute

    SCMP: For South African winemaker Vergenoegd Löw, the coronavirus pandemic could have been a disaster, but a bitter trade war between China and Australia has thrown the 325-year-old estate a lifeline. Read more

    China-Australia relations: iron ore prices helped offset weakened trade with China in 2020

    SCMP: Australia’s export figures for the final month of a tumultuous past year confirmed that momentum slowed in some trade with China amid various restrictions, but unbarred exports remained strong and buoyed overall trade between the two countries, according to the final December trade data from the Australian Bureau of Statistics. Read more

    East Asian economies drive global trade recovery, says UNCTAD report

    MenaFM: Led by trade in goods, global trade recovered in the last quarter of 2020, reducing its overall decline for the year to about 9 percent, according to UNCTAD’s new Global Trade Update published on February 10. Read more

    Strong EU trade enforcement rules enter into force

    EU: Robust new trade enforcement rules have entered into force that will further strengthen the EU’s toolbox in defending its interests. With the update of the EU’s Trade Enforcement Regulation, the EU is able to act in a broader range of circumstances. 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 – November 8-14, 2020

    Caribbean Trade & Development News Digest – November 8-14, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of November 8-14, 2020! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    Fifteen States, comprising 30% of the world’s economy, have signed the world’s largest trading bloc – the Regional Comprehensive Economic Partnership (RCEP). The signatory States include all 10 ASEAN Member States, Australia, China, Japan, South Korea and New Zealand. Read more here.

    The EU has put in place countermeasures against the US with respect to the WTO Boeing dispute, increasing tariffs on U.S. exports into the EU worth $4 billion. Read more here.

    EU and UK negotiators resumed Brexit talks in London but appear no closer to a post-Brexit deal as time for the end of the transition period runs out.

    Belizeans went to the polls this week and voted for a change of government. John Briceno has been sworn in as Belize’s new Prime Minister. Read more here.

    The Caribbean Community (CARICOM) has released a statement congratulating President-elect Joe Biden and Vice President Kamala Harris. Regional experts have been weighing in on what the Biden/Harris victory could potentially mean for US-Caribbean relations. I have included some of the articles below. You can also read my analysis here.

    REGIONAL

    Don’t expect Biden to rescue the Caribbean, says Bernal

    Jamaica Observer: There will be no financial windfall for the Caribbean from a Joe Biden-led US Government cautions Richard Bernal, former Jamaican ambassador to the USA, who on Friday shared his views on the foreign policy implications of a Biden win. Read more

    UWI’s Beckles: Biden/Harris victory a ‘win’ for Caribbean

    TT Newsday: UWI Vice-Chancellor Sir Hilary Beckles says the Biden/Harris victory is also “a win” for the Caribbean. He was speaking at a virtual media conference on Thursday afternoon under the theme Caricom, the UWI, Biden and the Future of Our Voice. Read more

    Sir Ronald Sanders: The world is waiting to breathe normally again

    Jamaica Observer: Caribbean Community (Caricom) countries should by now have worked out a strategy for securing the early attention of United States President-elect Joe Biden and the team working on his transition into the White House and to the helm of the Government. Read more

    What a Biden-Harris win means for Jamaica and the Caribbean

    Guyanese Online: While there will be considerable euphoria and pride in a Joe Biden-Kamala Harris win in the US presidential race, Jamaica-born New York-based political scientist, Diana Cassells, is cautioning Jamaica and the Caribbean about their expectations at this time. Read more

    American legislators with C’bean roots jubilant over Biden-Harris victory

    Jamaica Observer: Caribbean American legislators in the United States on Saturday celebrated the election of US Democratic Presidential nominee Joe Biden and his Caribbean American vice-presidential running mate Senator Kamala Harris. Read more

    Coffee exporters seeking to retain US$10 million in exports to Japan

    Jamaica Observer: The Jamaica Coffee Exporters Association is seeking to retain some US$10 million in exports of Blue Mountain coffee to the Japanese market for the 2020-21 crop year, similar to the value purchased last year. Read more

    Government Supports Export Efforts Of Local Businesses

    JIS: State Minister in the Ministry of Industry, Investment and Commerce (MIIC), Dr. the Hon. Norman Dunn, said the Government is committed to facilitating the export efforts of local businesses. Read more

    Transformational Changes Coming For Agriculture In The Region

    Jamaica Gleaner: As agriculture and food systems across Latin America and the Caribbean (LAC) try to recover from the impacts of the COVID-19 pandemic, policymakers must act to unleash the sector’s vast potential to drive sustainable and inclusive growth for decades to come, according to a new World Bank report. Read more

    BSI launches project to support sugar industry

    Amandala: On November 2, 2020, ASR/BSI officially launched the Belize Smart Sugarcane Cluster Project, a digital platform that will make information readily available to all the stakeholders in the sugarcane industry, and will especially help the 5,200 farmers who grow most of the cane that the Tower Hill factory converts to sugar for export and to supply local needs. Read more

    Vincentian appointed Director of Trade and Sustainable Development Association of Caribbean States

    Searchlight: Safiya Horne-Bique, a Vincentian national, assumed her duties as Director of Trade and Sustainable Development at the Secretariat of the Association of Caribbean States (ACS) on Monday November 2, 2020. Read more

    Europe’s appetite for Caribbean food highlights growing trend

    EU Reporter: The Caribbean food market is now worth almost £100 million. Sauces and condiments in particular are worth £1.12 billion and grew by 16.8% in the last year. Read more

    Western Union to suspend US transfers to Cuba

    Caribbean News Global: Western Union said on Friday it was suspending US money transfers to Cuba in 10 days due to the Trump administration’s latest sanction on the Communist-run island, in a blow to the many Cubans who rely on remittances from family abroad. Read more

    INTERNATIONAL

    RCEP: Asia-Pacific countries form world’s largest trading bloc

    BBC: Fifteen countries have formed the world’s largest trading bloc, covering nearly a third of the global economy. Read more

    What is RCEP and what does an Indo-Pacific free-trade deal offer China?

    SCMP: When leaders from 15 countries in the Indo-Pacific region meet for a virtual summit on Sunday, they are expected to sign a free-trade agreement that, measured by population and GDP, is one of the most ambitious ever struck. Read more

    Trudeau: UK’s lack of negotiating practice could delay Canada trade deal

    The Guardian: Canada could easily negotiate a post-Brexit trade deal with the UK, Justin Trudeau has said, but he warned that talks could be delayed because British negotiators are so out of practice. Read more

    Trudeau says he expects trade deal with U.K. can be done before 2021

    CBC: Prime Minister Justin Trudeau says he expects Canada can make a new trade deal with the U.K. before the calendar hit 2021. Read more

    Boeing WTO case: The EU puts in place countermeasures against U.S. exports

    EU: The European Commission’s regulation increasing tariffs on U.S. exports into the EU worth $4 billion will be published in the Official Journal of the EU. Read more

    EU-UK talks: ‘Make or break’ moment approaching, say both sides

    BBC: Trade talks between the UK and EU are reaching the “make or break” point, the two sides have said, with key differences proving hard to resolve. Read more

    EU unlikely to give UK more time to adjust after Brexit transition ends, Ireland’s FM tells Euronews

    Euronews: It is unlikely the European Union will grant the UK a grace period in January to help business adjust to the new post-Brexit trading regime, Ireland’s foreign affairs minister has told Euronews. Read more

    Trading partners seek post-Brexit clarity at WTO

    Reuters: Major trading partners called on Britain and the European Union (EU) on Friday to clarify terms for renegotiating tariff levels after Brexit and for compensating their suppliers for any lost market access, a Geneva trade official said. Read more

    In first for Fed, U.S. central bank says climate poses stability risks

    Reuters: “The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. Read more

    EU hits Amazon with antitrust charges. A huge fine could follow

    CNN: The European Union has unveiled formal antitrust charges against Amazon for abusing its dominance in online shopping and opened a second investigation into the company’s business practices. Read more

    Commission welcomes agreement on the modernisation of EU export controls

    EU: The European Commission welcomes the agreement reached today by the European Parliament and the Council on its proposal for a modernisation of EU export controls on sensitive dual-use goods and technologies. Read more

    Appointment of WTO chief in doubt after key meeting cancelled

    The Guardian: Nigeria’s Ngozi Okonjo-Iweala had been expected to be confirmed as leader on Monday. Read more

    5 ways the WTO can make investment easier and boost sustainable development

    World Economic Forum: As WTO delegates discuss what might be important measures to include, here are five provisions worth considering. Read more

    As WTO Talks Continue on Subsidy Reform Initiatives, Concerns Persist over Poor Notification Records

    IISD: The need to reform the World Trade Organization’s (WTO) agriculture subsidy rules and to clinch a deal that disciplines harmful fisheries subsidies are well known, and the latter agreement is now nearly within striking distance. Read more

    WTO Committee Discusses Ways to Facilitate FDI in Small Economies

    IISD: A meeting of the World Trade Organization (WTO) Committee on Trade and Development discussed foreign direct investment (FDI) and a joint communication on accelerating implementation of the WTO’s Trade Facilitation Agreement (TFA). Read more

    Minister for Agriculture: ‘Tariffs will apply under WTO rules in no-deal Brexit’

    Irish Examiner: The Minister for Agriculture, Food and the Marine, Charlie McConalogue, has confirmed that tariffs will apply to Irish goods going into the UK in the event of a no-deal Brexit scenario because of World Trade Organisation (WTO) rules. Read more

    How intra-African trade is progressing amid the pandemic

    BBC: Last year African countries signed an agreement aimed at increasing trade between them. If implemented successfully, they believe it could create a single African market of over a billion consumers. 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 – June 14-20, 2020

    Caribbean Trade and Development News Digest – June 14-20, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 14-20, 2020! And a Happy Father’s Day to all readers who are fathers, fathers-to-be or father figures! 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

    Global foreign direct investment (FDI) flows are forecast to decrease by up to 40% in 2020, from their 2019 value of $1.54 trillion, according to UNCTAD’s World Investment Report 2020 released this week. The report also shows that reshoring, diversification and regionalization will drive restructuring of global value chains in the coming years.

    US Trade Representative (USTR) Robert Lighthizer testified before the US House of Representatives’ Ways and Means Committee and the US Senate Finance Committee about the Trump Administration’s trade policy, including on hot button issues such as the US-China trade deal, the USMCA, and the administration’s plans for a ‘reset’ of tariffs at the WTO.

    Moldova became the fourth WTO Member to officially nominate a candidate for the post of WTO Director-General to succeed incumbent DG Roberto Azevedo who this May announced his decision to step down a year early.

    After three months of shutdown and in some cases border closures due to the COVID-19 pandemic, most Caribbean countries are slowly reopening their air and sea borders to commercial traffic in an effort to kickstart their economies. However, with infection rates continuing to surge in several US states, including Florida, a major gateway to the Caribbean, one questions whether it might be too soon to resume air traffic from the US considering that Jamaica recorded 14 new cases for the first time in weeks, all of which were imported from US flights.

    Guest Contribution: This week’s guest contributor Deah James examines the impact of COVID-19 on Micro, Small and Medium-Sized enterprises, including in the Caribbean nation of St. Vincent & the Grenadines. Have a read of her insightful piece here!

    On a final editorial note, this publication announces its solidarity with the movements currently taking place across the US and the world for racial equality and justice #blacklivesmatter.

    REGIONAL NEWS

    Johnson: Missed WTO targets not the focus for the Bahamas

    EyeWitness News: The Minnis administration had set June 2020 as a the target for World Trade Organization (WTO), a process which the country undertook two decades ago. Johnson spoke to the initiative during his contribution to the budget debate yesterday. Read more

    Bahamas Govt Not Hostage To WTO ‘Target Dates

    Bahamas Tribune: The government will not be held hostage to any deadlines or timelines for completing The Bahamas’ accession to full World Trade Organisation (WTO) membership, a Cabinet minister said yesterday. Read more

    JMEA Reports Success In Local And Export Markets

    JIS: The Jamaica Manufacturers and Exporters’ Association (JMEA) is reporting that members are having success on the local and export market since the COVID-9 outbreak in March. Read more

    JAMPRO woos logistics investors

    JIS: President of Jamaica Promotions Corporation (JAMPRO), Diane Edwards, is wooing overseas investment in Jamaica’s logistic services, noting that the country’s location, within reach of 800 million customers, makes it ideal to offer cutting-edge services to the global market. Read more

    TTMA launches 5-year strategic plan

    Newsday: The focus of the TT Manufacturers’ Association’s (TTMA) manufacturing export strategy 2025 is to increase exports through private sector initiatives over the next five years. TTMA President Franka Costelloe said the aim for 2020 is to restabilise the export market share and sales for the non-energy sector. Read more

    Guyana will attract more investment if border controversy is settled

    South Florida Caribbean News: The Guyana/Venezuela Border controversy needs to be resolved soonest so that Guyana can further exploit the resources of its maritime space and landmass which is being claimed by Venezuela. Read more

    Rice exports up by 13% – GRDB

    Stabroek: The Guyana Rice Development Board (GRDB) has reported a 13% hike in rice exports between January and May this year when compared to the same period last year. Read more

    EU AML/CFT Listing of Countries Among the Priority Issues of OACPS-EU Post Cotonou Negotiations

    Bahamas Information Services: A series of virtual negotiation meetings held between the Organisation of African, Caribbean and Pacific States (OACPS) and the European Union (EU) more specifically the European Commission during the week of 8 through 12 June 2020 featured prominently the unilateral action of the EU and its publication of a listing of High-Level Third Risk Countries due to strategic deficiencies in their anti-money laundering and counter financing of terrorism regimes. Read more

    How OECS nations managed to get rid of Coronavirus

    WIC: Coronavirus and the lockdowns across the globe are considered the only way to control the contamination of the virus. All the major economies are either under 24-hour lockdowns or observing partial curfews. While lockdowns and curfews are considered to be the one and only way to break the chain of the virus, but some nations have shown otherwise. Read more

    INTERNATIONAL NEWS

    European Commission kicks off major EU trade policy review

    European Commission: Today, the European Commission launched a major review of the European Union’s trade policy, including a public consultation seeking input from the European Parliament, Member States, stakeholders and civil society. The Commission’s objective is to build a consensus around a fresh medium-term direction for EU trade policy, responding to a variety of new global challenges and taking into account the lessons learned from the coronavirus crisis. Read more

    US-EU trade war feared after Washington quits digital tax talks

    Al Jazeera: The EU could press ahead with plans for digital tax on giants like Google, Facebook and Amazon. Read more

    5 ways to advance digital trade in the post-COVID world

    World Economic Forum: Globalization is under threat. Even before the pandemic, globalization was already struggling due to years of stagnation in trade growth and uncertainties at the World Trade Organization (WTO) due to US-China trade tensions. COVID-19 was another blow to the system. And the early departure of the WTO Director-General doesn’t help. Yet, international trade is critical to economic recovery. This is especially true for digital trade. Read more

    US looks at digital economy trade deal with Australia

    Financial Review: The Trump administration is looking at a groundbreaking digital economy trade deal with Australia that would supercharge the 21st century’s main growth engine while bolstering co-operation to compete with China’s more insular system. Read more

    Why ‘digital taxes’ are the new trade war flashpoint

    Daily Herald: The U.S. decision to withdraw from international efforts to harmonize global tax rules for digital companies risks triggering a new trade war. The move came after the U.S. and a group of nations failed to agree on the best way to tax revenue from digital companies such as Facebook and Alphabet’s Google. Read more

    Brexit: UK plans to keep post-transition trade with EU flowing

    BBC: Last week, the government announced that relaxed controls will apply for goods coming into the UK from the EU for a period of six months. These will apply whether the UK and the EU conclude a free trade agreement before the end of the year or not. Read more

    97% Bangladeshi products get duty free access in China

    Anadolu: 5,161 more products to get the treatment effective from July 1, while there is huge trade deficit between two countries. Read more

    India rejects market economy tag for China

    Livemint: India on Monday rejected China’s demand to grant it market economy status, amid the ongoing face-off between the two armies along the Line of Actual Control (LAC). New Delhi will continue to treat its neighbour as a non-market economy, which allows it to impose steep anti-dumping duties on imports from China. Read more

    US Mulling Over Restoring India’s Status Under GSP

    Outlook India: The top trade official from Donald Trump Administration said the US is currently in a big trade negotiations with India. Read more

    A Roundup of Recent Perspectives On the Proposed USA-Kenya Free Trade Agreement

    Patrick Anam: By now the news and debates around the proposed US- Kenya FTA is in the offing have gained notoriety and has been reported widely in various media both in the US and in Africa. Read more

    New trade deal between US and Kenya will be a win for Africa, says Uhuru

    The Standard: President Uhuru Kenyatta has sought to dispel fear that the ongoing trade talks between Kenya and the United States will undermine the African Continental Free Trade Agreement (AfCFTA). Read more

    Add Logs to a Growing List of Canada-China Trade Problems

    Financial Post: Canadian officials are investigating after China said it discovered pests in shipments of hardwood and softwood. The move comes three weeks after a judge ruled that extradition proceedings may continue against Huawei’s chief financial officer Meng Wanzhou and is raising concerns the pest issue may be politically-motivated. Read more

    New NAFTA takes effect next month. U.S. is already threatening legal challenges

    CBC: Trump’s trade rep says Canada, Mexico could face cases after deal enters force July 1. Read more

    Trump Administration to push for a reset of global tariffs

    New York Times: The Trump administration plans to continue its aggressive trade tactics this year by pushing for a “broader reset” of the tariffs set at the World Trade Organization, a top trade official plans to tell Congress in testimony on Wednesday. Read more

    China pulls WTO suit over claim to be a market economy

    Reuters: China has halted a dispute at the World Trade Organization over its claim to be a market economy, a panel of three WTO adjudicators said on Monday, meaning Beijing must accept continued EU and U.S. “anti-dumping” levies on cheap Chinese goods. Read more

    It is critical to restructure the supply chains during the COVID-19 period

    Fiji Village: FMF Foods Limited Managing Director Ram Bajekal says it is critical to restructure the supply chains during the COVID-19 period as they experienced a dip with change in schedules in shipment and air freights. Read more

    India to remain most resilient in South Asia, continue to attract FDI even in Covid-19 crisis: UNCTAD

    Economic TImes: However, inflows May shrink sharply. As per UNCTAD, India jumped to ninth spot in 2019 on the list of global top FDI recipients from the twelfth spot in 2018. Read more

    Japan And ASEAN To Improve Trade Deal

    The ASEAN Post: The Japanese Ministry of Foreign Affairs said in a statement released earlier this week that it has notified ASEAN countries that it had completed the legal procedures to amend the First Protocol of the ASEAN-Japan Comprehensive Economic Partnership (AJCEP). Read more

    Japan criticizes South Korea for requesting WTO review of export controls

    Japan Times: The government on Friday criticized South Korea’s decision to ask the World Trade Organization (WTO) to set up a dispute settlement panel over Japan’s tightening of export controls on semiconductor materials. Read more

    China loses landmark WtO dispute against EU

    Japan Times: China spent four years fighting for market-economy status, a designation that would give it stronger footing with commercial partners while also curtailing their ability to retaliate over trade disputes. This week, China quietly lost that battle. Read more

    It the US wants a better WTO, it should lead the way

    The Hill: In the wake of the sudden departure of World Trade Organization (WTO) Chief Robert Azevêdo, multiple nominees have been put forward to lead the organization into the next phase, which at the moment feels very uncertain. But one name is missing: That of an American. With two of its largest member countries, the United States and China, in conflict about the WTO’s direction, this is an opportunity to defend the rules-based trading system that the United States founded and professes to value. Read more

    Government endorses Irish Commissioner Phil Hogan for World Trade Organisation chief

    Independent.ie: The Government has backed Irish EU Commissioner, Phil Hogan, for the post of director general of the World Trade Organisation. The decision will increase his prospects of becoming the EU candidate for the prestigious post which falls vacant on September 1. Read more

    US says a UK trade deal ‘unlikely’ before November

    BBC: America’s top trade negotiator has said a deal with the UK is unlikely before the US presidential election in November. Read more

    U.K. wants to join Pacific trade pact as trade deal with Canada approaches its end

    CBC: With just over six months remaining before Canada’s current free trade arrangement with the United Kingdom expires, the British government signalled today that it intends to join another trade agreement in which Canada is already a partner: the Comprehensive and Progressive Trans-Pacific Partnership. Read more

    UK begins talks with Australia and New Zealand on free trade deal for post-Brexit era

    The Guardian: Australian and New Zealand ministers say they are eager to do deals with the UK as their economies emerge from the coronavirus crisis. Read more

    Some U.S. aluminum producers are again pushing for tariffs on Canada as others warn of ‘great Canadian distraction’

    Financial Post: Tensions around aluminum appear to be rearing their head again even as the new NAFTA is only weeks away from taking effect. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    EVENTS

    Last week Wednesday, I had the pleasure of moderating an all-star panel of experts on Webinar 3 “Recovering and Transforming our Economies – New Legal, Regulatory and Trading Imperatives” of the seven-part G.O.Lynch Consultancy Inc. Webinar series. Please join them for the remainder of the panels in this exciting series.

    This week I look forward to being a panelist on the AfronomicsLaw webinar entitled “Vulnerability in the Trade and Investment Regimes in the Age of COVID-19”. See flyer below for further details and to register!

    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 – March 15-21, 2020

    Caribbean Trade & Development News Digest – March 15-21, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of March 15-21, 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

    COVID-19

    Several Caribbean countries are now among those well over 100 countries worldwide which have reported cases of COVID-19. Globally, cases have reached over 200,000 while Italy has overtaken China’s death toll.

    Caribbean governments’ policy responses to mitigate the human and economic impact of COVID-19 have varied. Read more about Caribbean governments’ COVID-19 policy measures in my latest article here: COVID-19: How have Caribbean governments responded so far?

    CARICOM Agricultural Ministers met 19 March 2020 to chart a COVID-19 food and nutrition security and availability response.

    CCJ delivers first Advisory Opinion

    On March 18, the Caribbean Court of Justice (CCJ) has released its first Advisory Opinion. Among other things, the Court has opined that freedom of movement of skilled nationals is a ‘fundamental objective’ of the Community, but that the opt-out granted by the Conference of Heads of Government to two Member States (Antigua & Barbuda and St. Kitts & Nevis) from the enlargement decision of Feb 2019 extending freedom of movement to security guards and agricultural workers is not prejudicial to this fundamental objective. Read more about the Advisory Opinion here.

    REGIONAL

    Cuba and China send aid and doctors around the world in fight against Covid-19

    Morning Star: China and Cuba continued to lead the global fight against the coronavirus pandemic today. Read more

    New CARICOM/ private sector body formed

    Barbados Today: A new CARICOM/Caribbean private sector organization has been established to facilitate the planning processes of the Caribbean Community (CARICOM), and to help with implementing some of the various initiatives under the CARICOM Single Market and Economy (CSME). Read more

    Barbados PM rolls out COVID-19 economic plan

    Nation News: Prime Minister Mia Amor Mottley last night rolled out several initiatives expected to help Barbados keep its head above water in the battle with the Covid-19 pandemic. Read more

    Major losses, tourism business slumps in Barbados

    Barbados Today: Hoteliers are reeling from cancellations and no-shows from the COVID-19 pandemic, with millions of dollars in losses, some attractions reporting up to 70 per cent decline in business and others facing possible closure, tourism officials and executives said today. Read more

    JSE Roiled By Virus As Investors Head For Safe Haven

    Jamaica Gleaner: Jamaican stocks suffered another collapse on the first day of a government shutdown Wednesday as a virus-containment strategy, then clawed back a tiny portion of those losses on Thursday. Read more

    Business Continuity Insurance Not On Offer – It’s Too Difficult To Price, Says IAJ Spokesman

    Jamaica Gleaner: Business continuity insurance will not cover Jamaican companies in the event of losses arising from the effects of the COVID-19 coronavirus. That’s the word from the general insurance sector, while businesses contemplate the likely fallout from forced absence and low productivity as they scale back to mitigate the spread of the virus. Read more

    Entire closure of Jamaica’s tourism industry due to COVID 19

    Jamaica Observer: Tourism Minister Edmund Bartlett is admitting that the entire tourism industry in Jamaica is facing imminent closure given the travel restrictions on many of its source markets as well as local containment and restriction protocols. Read more

    INTERNATIONAL

    Coronavirus: E.U. announces sweeping ban on most nonessential incoming travel

    NBC: “We need to do more to reduce huge pressure on our health care system,” said Ursula von der Leyen, the European Commission president. Read more

    COVID-19 Pandemic and Latin America and the Caribbean: Time for Strong Policy Actions

    IMF Blog: COVID-19 is spreading very quickly. This is no longer a regional issue—it is a challenge calling for a global response. Countries in Latin America and the Caribbean have been hit later than other regions from the pandemic and therefore have a chance to flatten the curve of contagion. Read more

    Statement on COVID-19 economic policy response

    EU: Following up on the videoconference on 10 March 2020 between European Council Members, as well as the ECB President, the Eurogroup President and the High Representative, the Eurogroup held an in-depth discussion today, together with non-Euro Area Members, on how to respond to the extraordinary human and economic crisis caused by the Corona virus. Read more

    Majority of Britons support extending Brexit transition period amid coronavirus outbreak, new poll shows

    The Independent: The majority of Britons want the Brexit transition period to be extended after negotiations were put on ice due to the coronavirus outbreak, a new poll shows. Read more

    World Bank Group Increases COVID-19 Response to $14 Billion To Help Sustain Economies, Protect Jobs

    World Bank: The World Bank and IFC’s Boards of Directors approved today an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. Read more

    Kenya, US start talks on trade agreement

    Business Daily: The US trade department has started negotiations on comprehensive trade agreement with Kenya in a move that will extend Kenya’s preferential access after the current deal ends in 2025. Read more

    Turkey challenges EU steel import curbs at WTO

    Daily Sabah: Turkey has launched a legal challenge at the World Trade Organization (WTO) against an EU-imposed curb on steel imports after the effective closure of the U.S. market. Read more

    U.S. to boost tariffs on Airbus planes Wednesday, adding pressure on airlines

    Reuters: The United States is expected to increase U.S. tariffs on Airbus planes by 50% on Wednesday, U.S. and European officials say, dealing a further blow to U.S. airlines already hammered by sharp drops in travel due to the coronavirus pandemic. Read more

    Japan Wants WTO Panel on India’s Smartphone Tariffs

    Nippon: The Japanese government Thursday asked the World Trade Organization to set up a dispute settlement panel over India’s tariffs on smartphones and some other electronic products. 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: