Caribbean Trade Law and Development

Tag: trade news digest

  • Caribbean Trade & Development News Digest – July 7 – 13, 2019

    Caribbean Trade & Development News Digest – July 7 – 13, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of July 7-13, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    In this week’s headlines, fifteen countries in the West African regional bloc ECOWAS have agreed to adopt a single currency called the ECO next year. Regionally, Jamaica aims to deepen its trade and other bilateral relations with the Cayman Islands, while Barbados has its eye on investment opportunities in Guyana.

    REGIONAL NEWS

    Jamaica ā€“ Cayman Islands to strengthen trade, bilateral relations

    Caribbean News Now: Jamaica is moving to improve trade relations with the Cayman Islands, prime minister Andrew Holness said speaking to the Jamaican diaspora in the Cayman. Read more

    WTO ‘devastating’ for farmers and fisheries

    Tribune 242: Becoming a full World Trade Organisation (WTO) member will be “devastating” for Bahamian farmers because they are “not prepared” for the competitive demands of liberalised trade regimes. Caron Shepherd, president of the Farmers United Cooperative, told Tribune Business. Read more

    Barbados seeking to encourage investments in Guyana

    Jamaica Observer: The Barbados Government is seeking to lure local investors to invest in Guyana, which is the world’s second-largest stock market, NASDAQ last month named as the fastest growing economy in the world. Read more

    Investment potential in Guyana

    Barbados Today: Investment opportunities in Guyana worth millions of dollars appear to have captured the attention of dozens of workers and entrepreneurs eager to tap into its growing market. Read more

    Antigua PM Reports Positive Talks On Ownership In Scotiabank Country Branch

    Jamaica Gleaner: The Antigua & Barbuda government is reporting positive feedback to a proposal that would allow it to own at least 40 per cent of the local Scotiabank operation, under a regional transaction in which the Canadian owner is offloading some of its Caribbean assets to Republic Financial Holdings Limited. Read more

    Antigua ā€“ Barbuda and the Dominican Republic forge closer relations: Embassy to break ground soon

    Caribbean News Now: Prime Minister Gaston Browne fulfilled a promise made three years ago to the president of the Dominican Republic to transfer one acre of land for the construction of an embassy and residences for the Dominican Republic in St Johnā€™s, presented the land certificate to foreign affairs minister of the Dominican Republic, Chancellor Miguel Vargas who paid an official visit to Antigua and Barbuda over the weekend. Read more

    Statistical Capacity-Building Underway in CARICOM Member States

    CARICOM: The Caribbean Community (CARICOM) has embarked on a series of exercises across the Region as it steps up its efforts to build capacity in statistics. The Community is working towards providing robust, quality statistics to inform and advance its development thrust. Read more

    Caribbean Countries to Benefit from Access to Insurance for the Fisheries Sector

    OECS: CCRIF SPC and the World Bank are pleased to announce that on July 1, the Facility issued the Caribbean Oceans and Aquaculture Sustainability FaciliTy (COAST) fisheries parametric insurance policy to two of its member governments ā€“ Grenada and Saint Lucia. Read more

    INTERNATIONAL NEWS

    ECOWAS West African nations to adopt unified ‘eco’ currency

    IOL: The Economic Community of West African States announced at the end of its summit in Abuja, Nigeria, that it would be adopting the ECO as its shared currency by 2020. Read more

    France passes tax on tech giants despite US threats

    BBC: France has approved a digital services tax despite threats of retaliation by the US, which argues that it unfairly targets American tech giants. The 3% tax will be levied on sales generated in France by multinational firms like Google and Facebook. Read more

    Trump-China Trade Tensions Hit Panama Canal Revenues

    Bloomberg: Cargo from the U.S. to China going through the key waterway has slumped this year as the Asian giant cuts its imports of American food and fuel, according to Panama Canal Authority CEO Jorge Luis Quijano. Read more

    Beijing to impose sanctions on US firms involved in US$2.2 billion Taiwan arms deal

    South China Morning Post: Beijing said on Friday it will issue sanctions against the US companies involved in the latest arms sale to Taiwan, as tensions between China and the United States continue to rise. Read more

    US tells Britain: Fall into line over China and Huawei, or no trade deal

    Telegraph: Donald Trumpā€™s negotiators have signalled that the next prime ministerā€™s hopes of a post-Brexit trade deal with the United States rest on his willingness to fall in line with tough American policies against the Chinese telecoms giant Huawei. Read more

    EU-Mercosur trade agreement: The Agreement in Principle and its texts

    EU: In view of the Commission’s transparency policy, the Commission is publishing the texts of the Trade Part of the Agreement following the agreement in principle announced on 28 June 2019. Read more

    Nigeria signs Africa free trade agreement: statement

    Reuters: Nigerian President Muhammadu Buhari has signed up to the $3 trillion Africa free trade agreement, a spokesman confirmed on Sunday. Read more

    African Leaders Launch First Continental Trade Agreement

    VoA: Leaders discussed ā€œoperationalā€ parts of the agreement at a recent gathering of the African Union in Niger. The deal had been under discussion since 2002 and a general agreement to form the trade area was reached in March. Read more

    Canada posts rare trade surplus as exports to U.S. hit record high

    Financial Post: Canadaā€™s trade balance unexpectedly swung into surplus for the first time in 10 months on a broad-based jump in exports, adding to evidence the economy has returned to a more solid footing. Read more

    Germany Sees 50% Chance for EU-U.S. Trade Deal, Possibly in 2019

    Bloomberg: German Economy Minister Peter Altmaier sees a 50% chance of the European Union striking a trade agreement on industrial goods with the U.S., possibly this year. Read more

    A Deeper Look at Vietnamā€™s Trade Deal With Europe

    The Diplomat: The EUā€™s drive to become the defender of multilateralism promises further opportunities for Southeast Asia. Read more

    What is GATT 24: What is the WTO clause at the centre of Andrew Neil’s grilling of Boris Johnson

    Independent: Boris Johnson was taken to task by the BBCā€™s Andrew Neil over his knowledge of GAā€‹TT 24 ā€“ the clause in WTO rules he believes could allow the UK to continue to trade freely with the EU in a no deal scenario. Read more

    Australia steps up sugar trade fight with India, moves WTO

    Hindu Business Line: Australia has intensified its sugar related dispute with India by formally asking World Trade Organisation (WTO) to set up a panel to probe if the worldā€™s second-largest sugar producer was breaching its obligations, a media report said Friday. Read more

    Japan denies imposing South Korean trade embargo at WTO

    Reuters: Japan denied imposing a trade embargo on South Korea on Tuesday, after a complicated diplomatic dispute that could disrupt global supplies of chips and smartphones erupted over forced labor in World War Two and banned trade with North Korea. Read more

    Global trade: Making a start for WTO reforms

    Financial Express: Members desirous of preventing disruption of the appellate process in WTO disputes would enter into a plurilateral accord providing for appeal arbitration. Read more

    Boris Johnson’s Brexit plan for businesses dismissed by head of WTO

    Independent: The head of the World Trade Organisation has blown a hole in Boris Johnsonā€™s Brexit plans as Conservative members vote on whether he should become party leader and prime minister. Read more

    Brazil escalates WTO dispute over India sugar subsidies that distort global sugar markets

    Business Today: The Brazilian government said on Thursday it had asked the World Trade Organization to establish a panel aimed at resolving its dispute over Indian sugar subsidies, according to a joint statement by the foreign and agriculture ministries. Read more

    India involved in 14 disputes at WTO currently, says Piyush Goyal

    Business Standard: At present, India is involved in 14 WTO disputes, all of which are being handled by domestic law firms. Read more

    USTR Announces Fiscal Year 2020 WTO Tariff-Rate Quota Allocations for Raw Cane Sugar, Refined and Specialty Sugar and Sugar-Containing Products

    USTR: The Office of the U.S. Trade Representative today announced the country-specific and first-come, first-served in-quota allocations under the tariff-rate quotas (TRQs) on imported raw cane sugar, refined and specialty sugar and sugar-containing products for Fiscal Year (FY) 2020 (October 1, 2019 through September 30, 2020). Read more

    USTR Announces Initiation of Section 301 Investigation into Franceā€™s Digital Services Tax

    USTR: On July 10, 2019, the United States Trade Representative (USTR) initiated an investigation under Section 301 of the Trade Act of 1974 of the Digital Services Tax (DST) of the Government of France. Read more

    WTO NEWS

    NEW ON 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 Digest – June 30 – July 6, 2019

    Caribbean Trade & Development Digest – June 30 – July 6, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 30-July 6, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    CARICOM Heads of Government held their 40th Regular Meeting of the Conference of Heads of Government (HoG) at Gros Islet, Saint Lucia 3-5, July 2019 under the chairmanship of the Prime Minister of Saint Lucia, Honourable Allen Chastanet. Read the communique here.

    UN Secretary General Antonio Guterres addressed the Opening Ceremony of the CARICOM HoG Meeting and his speech may be viewed here.

    Ghana has been selected to host the AfCFTA Secretariat.

    The Global Aid for Trade Report 2019 was launched this week. The full report may be read online here.

    REGIONAL NEWS

    Strengthening ties

    Barbados Today: The Barbados Government was looking to broaden and deepen trade in the region and Prime Minister Mottley was particularly interested in pursuing relationships with Guyana, which was expected to experience growth from the development of its oil and gas industry. Read more

    Sustainable Trade: OECS signs ā‚¬ 3.6 million project to develop trade capacity in the region

    OECS: Stronger trade expertise and the creation of a harmonised trade information and facilitation platform in OECS Member States are key areas earmarked for development under the 3.6 million euro, EU/ACP-funded TradeCom II Agreement signed by OECS Director General Dr. Didacus Jules in Geneva, Switzerland today. Read more

    Regional countries seeking support for dealing with climate change impact

    Jamaica Observer: Caribbean countries have welcomed an initiative by the SIDS Resilience Foundation and Project Lodge designed to mobilise financing to build resilience, St Lucia’s Prime Minister Allen Chastanet has said. Read more

    Resilience We Seek To Build Must Be Built Within CSME ā€“ CARICOM SG

    CARICOM: The 40th Regular Meeting of the Conference of CARICOM Heads of Government, opened on Wednesday evening under the Chairmanship of Prime Minister Allen Chastanet of Saint Lucia, at the Royalton St Lucia Resort, with strong calls to strengthen regional integration mechanisms. Read more

    SVG assumes Chairmanship of CARIFORUM for one year

    Searchlight: St Vincent and the Grenadines (SVG) has assumed its role of Chair of the Caribbean Forum of the African, Caribbean and Pacific (CARIFORUM) for a one-year period. Read more

    Jamaican companies seek export opportunities in Trinidad

    LoopJamaica: Seven Jamaican companies are currently exploring export opportunities in Trinidad and Tobago on an export mission being led by JAMPRO and the Jamaica Manufacturers and Exporters Association (JMEA). Read more

    JAMPRO Coordinating Activities to Boost Exports

    JIS: Jamaica Promotions Corporation (JAMPRO) has been coordinating various marketing and investment activities aimed at boosting the range of export markets for local products. Read more

    INTERNATIONAL NEWS

    Aid for Trade Review opens with call to preserve trading system as driver for development

    Hellenic Shipping News: The seventh Global Review of Aid for Trade opened at the World Trade Organization on 3 July with a call for preserving the multilateral trading system in order to support trade as a driver of economic growth and development. Read more

    African Leaders Meet to Push Forward Free-Trade Deal

    VoA: Officials are gathering in Nigerā€™s capital this weekend for an African Union summit that begins the ā€œoperational phaseā€ of a long-sought continental free trade zone. Read more

    Ghana selected to host AfCFTA secretariat

    CGTN: Ghana was on Saturday selected as the country to host the secretariat of the African Continental Free Trade Area (AfCFTA). Read more

    African Union to launch operational phase of AfCFTA in Niger

    CGTN: The African Union said on Thursday that it will launch the operational phase of the African Continental Free Trade Area (AfCFTA) at an Extraordinary Summit of Heads of State and Government on July 7 in Niamey, Niger. Read more

    Hopes dim for passage of Trump trade deal

    The Hill: House Democrats say there’s little to no chance that Congress will take up President Trump’s replacement for the North American Free Trade Agreement (NAFTA) before the end of summer. Read more

    Mexico and U.S. try new trade fix to win over Democrats: official

    Reuters: Mexico is working closely with U.S. Trade Representative Robert Lighthizer to close a loophole in the new North American trade deal, aimed at satisfying demands of U.S. Democratic lawmakers for tougher labor and environmental provisions, a senior Mexican official said. Read more

    Cheese and whiskey are targeted in USā€™s latest proposed tariffs on EU

    Vox: The US wants to add new tariffs on $4 billion in goods as part of a trade dispute involving Boeing and Airbus. Read more

    US drags India to WTO for imposing additional tariffs on 28 goods

    Business Line: The US claims that the additional duties, which India imposed through a series of notifications issued between June 2018 and June 2019, are inconsistent with provisions of the WTO’s General Agreement on Tariffs and Trade by unfairly discriminating against US imports vis-Ć -vis those from other WTO members and by according less favourable treatment to US goods than that provided for in India’s schedule of concessions,” according to an official release. Read more

    U.S. and 15 others slam EU regulation of farm products at WTO

    Reuters: The United States and 15 other countries launched a broadside of criticism at the European Union on Thursday, saying its ā€œhazard-basedā€ approach to regulating pesticides and other ā€œcritical toolsā€ used by farmers was damaging livelihoods worldwide. Read more

    China is not the only trading partner targeted by US President Donald Trump’s trade wars

    ABC (Australia): The US-China trade war has been dominating headlines, but Beijing is not the only trading partner in President Donald Trump’s crosshairs. Read more

    Talks ongoing for Pacific Alliance-Singapore free trade agreement

    Business Times: Negotiations on the Pacific Alliance-Singapore free trade agreement (FTA) are underway, involving a grouping of four countries – Chile, Colombia, Mexico and Peru – which Singapore traded $5.9 billion in goods with last year. Read more

    WTO NEWS

    NEW ON CTLD BLOG

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

  • Caribbean Trade & Development Digest – March 31 – April 6, 2019

    Caribbean Trade & Development Digest – March 31 – April 6, 2019

    Welcome to the Caribbean Trade & Development Digest for the week ofĀ March 31- April 6, 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

    With the new Brexit deadline of April 12, 2019 fast approaching and no sign that British MPs are any closer to backing the Draft Withdrawal Agreement negotiated by the Theresa May Government with the EU, which they already rejected three times, the UK Government has asked for a further extension until June 30, 2019.

    The WTO released its April outlook for global trade growth, revising downward its forecast for 2019 amidst rising trade tensions. Read more here:Ā WTO: Trade tensions pose greatest risk to trade growth

    Meanwhile regionally, the CARICOM Competition Commission (CCC) has warned that the sale of Scotia Bank could have anti-competitive effects in three countries. Read the statement from the CCCĀ here.

    The text of the CARIFORUM-UK Economic Partnership Agreement has been released. Read more here:Ā UK-CARIFORUM Economic Partnership Agreement: What does it all mean?

    REGIONAL NEWS

    Local manufacturers told to explore extra regional markets

    LoopTT: Local manufacturers are being urged to seek out and penetrate new markets beyond CARICOM.Ā  Trade and Industry Minister Paula Gopee-Scoon made the comment while speaking at the Trinidad and Tobago Manufacturersā€™ Associationā€™s (TTMA) 63rdĀ Annual General Meeting on Tuesday. Read moreĀ 

    Towards a Transparent and Effective Management of Guyanaā€™s Oil and Gas Sector

    Modern Diplomacy: The World Bankā€™s Board of Executive Directors approved a US$20 million credit from the International Development Association (IDA) to strengthen institutions, laws and regulations to promote good governance and a prudent management of Guyanaā€™s oil and gas sector. Read moreĀ 

    CARICOM body warns sale of Scotiabank could have anti-competitive effect

    Nation News: The Suriname-based Caribbean Community (CARICOM) Competition Commission (CCC) says the intended sale of Scotiabankā€™s assets in nine Caribbean countries could have anti-competitive effects in at least three CARICOM member states. Read moreĀ 

    Imbert: US lobbyist seeking opportunities for Govt

    Guardian (TT): The Group DC LLC, the US lobĀ­byĀ­ist firm, which unĀ­derĀ­took sevĀ­erĀ­al trade and inĀ­vestĀ­ment proĀ­moĀ­tion iniĀ­tiaĀ­tives for the T&T GovĀ­ernĀ­ment last year, idenĀ­tiĀ­fied opĀ­porĀ­tuĀ­niĀ­ties and strateĀ­gies to enĀ­gage multiĀ­naĀ­tionĀ­al corĀ­poĀ­raĀ­tions to poĀ­tenĀ­tialĀ­ly inĀ­crease comĀ­merĀ­cial shipĀ­ping and dryĀ­dock conĀ­strucĀ­tion here. Read moreĀ 

    Take Trade Matters Seriously

    Barbados Today: Former Barbados Government Minister, Ms. Lynette Eastmond wants to see a different approach by the Barbados private sector to the issue of the country negotiating trade agreements. Read moreĀ 

    CDB grant to help CARICOM investigate suitability of plantation white sugar for regional manufacturing

    Caribbean News Now: A collaboration between the Caribbean Development Bank (CDB) and the Caribbean Community (CARICOM) aims to improve the availability of data to guide evidence-based decisions about the future of sugar in CARICOM. Read moreĀ 

    Guyana part of regional study on substituting refined sugar with ā€œplantation whiteā€

    Demerara Waves: Guyana is among four sugar-producing Caribbean Community (CARICOM) member nations that will be the focus of a regional study on the prospects of substituting imported refined sugar with plantation white, the Caribbean Development Bank (CDB) said Tuesday. Read moreĀ 

    CSME: The principle, process and progress

    Newsday (Trinidad): Gracia Whyte a Jamaican, made sure she had all her documents in order when she began the process of applying for a Caricom Single Market Economy (CSME) skills certificate. She even had her employer, Digicel, to help ease her through the transition during her application process. Bureaucracy, however, still held her back. Read moreĀ 

    Wto ā€˜No Silver Bulletā€™ For Gdp Growth Woes

    Tribune242: Full World Trade Organisation (WTO) membership ā€œis not a silver bulletā€ for solving The Bahamasā€™ economic growth woes, a Chamber of Commerce executive argued yesterday. Read moreĀ 

    Aruba Extends Airbnb Agreement

    Travel Pulse: Arubaā€™s government has extended its 2016 agreement with home-stay provider Airbnb to ā€œcontinue with the promotion of sustainable tourism in Aruba through home sharing,ā€ said Aruba Tourism Authority (ATA) officials in a statement. Read moreĀ 

    Belize Imports up 6.8% in February 2019

    Amandala: Latest statistics released by the Statistical Institute of Belize (SIB) say that Belize imported nearly $146 million worth of goods in February 2019, an increase of $9.2 million (6.8%) over the $136.8 million worth of goods we imported in February 2018. Read moreĀ 

    INTERNATIONAL NEWS

    Brexit chaos leaves dismay in Asia-Pacific

    Asia Times: Britainā€™s failure to acyhieve a withdrawal agreement with the EU has had a very negative impact on the UKā€™s relationships in Asia and it could deal a serious blow to its trade with the region. Read moreĀ 

    White House economic adviser Larry Kudlow says US-China trade deal ā€˜closer and closerā€™

    South China Morning Post: US President Donald Trumpā€™s top economic adviser says the US and China are ā€œcloser and closerā€ to a trade deal, and that top-tier officials would be talking again this week via ā€œa lot of teleconferencingā€. Read more

    A swashbuckling global Britain free to do its own trade deals? Itā€™s a mirage

    The Guardian: Whatever happens in the Brexit negotiations, the question of the UKā€™s future trade relations with countries outside the European Union will become acute for businesses, investors, workers and citizens. Read moreĀ 

    Chile Lawmakers Delay Vote Again on Pacific Trade Deal

    Bloomberg: Chilean lawmakers have once again delayed voting on a major Pacific trade deal, heightening concerns that they could reject the treaty. Read moreĀ 

    Major New UN Report Calls for Overhaul of Global Financial System

    UNDP: Sixty-plus international organizations, led by the United Nations and including the International Monetary Fund, the World Bank Group and World Trade Organization, jointly sounded the alarm Thursday in a new report, warning that unless national and international financial systems are revamped, the worldā€™s governments will fail to keep their promises on such critical issues as combatting climate change and eradicating poverty by 2030. Read moreĀ 

    Moving the ACP Group to Centre Stage of Multilateralism

    IndepthNews: In todayā€™s global situation that bears the features of turbulence, fragility and an increasingly precarious balance between peace and possible nuclear annihilation, the role and relevance of the United Nations Organisation has assumed unparalleled importance. Read moreĀ 

    Brexit extension veto by EU unlikely, says Leo Varadkar

    BBC: It is unlikely an EU 27 country will veto a UK request for a delay to Brexit, the Irish prime minister has said. Read moreĀ 

    May asks for Brexit extension to 30 June as Tusk offers up to a year

    The Guardian: Rather than the year-long flexible extension to article 50 recommended by the European council president, the prime minister suggested 30 June as the new departure date, but with an option to leave earlier if the necessary legislation has been passed. Read moreĀ 

    The African Continental Free Trade Area ā€“ More Hills To Climb

    East African Business Week: The African Continental Free Trade Area (AFTA) has garnered the required 22 ratifications for it to enter into force, the latest ratification coming in on April 1, 2019, from The Gambia. Read moreĀ 

    Trade agreement bolsters South Africa exports into Brazil

    African daily voice: According to South African Foreign Economic Representative in Brazil, Shanaaz Ebrahim, the preferential trade agreement between the Southern African Customs Unions (SACU) and the Southern Common Market (Mercosur) trade blocs has led to a steady increase of South African exports into Brazil. Read more

    After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns

    CNBC: Once the U.S. and China have reached a trade deal, the worldā€™s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD). Read moreĀ 

    The Risk of E-Commerce Provisions in the RCEP

    The Diplomat: The world of digital economies, innovation, and global value chains (GVCs) is changing rapidly. Every day there are stories about new technologies, services, and products that present unexpected possibilities and unforeseen challenges. Read moreĀ 

    RCEP trade pact likely to be concluded in November: ASEAN chief Lim Jock Hoi

    Japan Times: An Asiawide free trade deal involving 16 countries will likely be concluded in November at a summit of the Association of Southeast Asian Nations to be held in Thailand, ASEAN Secretary-General Lim Jock Hoi has said. Read moreĀ 

    Pelosi: No vote on new NAFTA until Mexico changes labor laws

    Politico: Speaker Nancy Pelosi indicated on Tuesday the House will not consider President Donald Trumpā€™s new North American trade pact until after Mexico has passed and implemented its major labor law reforms. Read moreĀ 

    Canada says reopening USMCA trade pact could be a ‘Pandora’s box’

    Reuters: Canadian Foreign Minister Chrystia Freeland on Thursday cautioned against the idea of reopening a new continental trade pact with the United States and Mexico, saying it could be a ā€œPandoraā€™s box.ā€ Read moreĀ 

    U.S., China to Keep Working on Trade Deal After Latest Talks

    Bloomberg: China and the U.S. made progress toward a much-anticipated trade deal in their latest meetings and will keep talking on the remaining issues, the state-run Xinhua news agency reported. Read moreĀ 

    Why the Kenya-Uganda trade agreement over SGR is a raw deal for Kenya

    CFM (Kenya): Last week President Uhuru Kenyatta and his Ugandan counterpart Yoweri Museveni struck a wide ranging trade agreement that basically removes existing trade barriers and commits Uganda to connect to Kenya its component of the SGR under the broader Chinese belt and road initiative (BRI). Read more

    WTO NEWS

    WTO issues panel report regarding Russian restrictions on traffic in transit

    On 5 April the WTO circulated the panel report in the case brought by Ukraine in ā€œRussia ā€” Measures Concerning Traffic in Transitā€ (DS512). Read moreĀ 

    Australia ratifies WTO procurement pact

    Australia has ratified the WTOā€™s Agreement on Government Procurement (GPA), submitting its instrument of accession to the WTO Secretariat on 5 April. Starting next month, the country will benefit from new market access opportunities and other provisions under the pact. Read moreĀ 

    Members advance work on new import licensing website and database

    As part of overall efforts to improve transparency, WTO members advanced work to put into place a new import licensing website and database expected to be launched in late 2019 or early 2020. Read moreĀ 

    DG AzevĆŖdo praises Mexicoā€™s support for a strong and effective rules-based system

    Director-General Roberto AzevĆŖdo welcomed Mexican President AndrĆ©s Manuel LĆ³pez Obradorā€™s strong support for the WTO on 4 April, when they met in Mexico City. Their discussions included the importance of international trade and of a strong and effective rules-based system and the emerging debate on how to strengthen the WTO and global trade cooperation. Read more

    Trade Policy Review: Bangladesh

    The fifth review of the trade policies and practices of Bangladesh takes place on 3 and 5 April 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Bangladesh. Read moreĀ 

    Egypt launches safeguard investigation on semi-finished products of iron or non-alloy steel and steel rebar for construction purposes

    On 2 April 2019, Egypt notified the WTOā€™s Committee on Safeguards that it initiated on 31 March 2019 a safeguard investigation on semi-finished products of iron or non-alloy steel and steel rebar (bars, rods and coils) for construction purposes. Read moreĀ 

    Global trade growth loses momentum as trade tensions persist

    World trade will continue to face strong headwinds in 2019 and 2020 after growing more slowly than expected in 2018 due to rising trade tensions and increased economic uncertainty. WTO economists expect merchandise trade volume growth to fall to 2.6% in 2019 ā€” down from 3.0% in 2018. Trade growth could then rebound to 3.0% in 2020; however, this is dependent on an easing of trade tensions. Read moreĀ 

    CTLD BLOG NEWS

    The Caribbean Trade Law & Development (CTLD) Blog has been rated number 10 onĀ Feedspotā€˜sĀ Top 30 Caribbean Blogs, News Websites & Newsletters To Follow in 2019.

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

  • Caribbean Trade & Development Digest – March 24-30, 2019

    Caribbean Trade & Development Digest – March 24-30, 2019

    Welcome to the Caribbean Trade & Development Digest for the week ofĀ March 24-30, 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.

    REGIONAL

    UK signs trade continuity agreement with Caribbean countries

    UK Government: UK businesses and consumers will benefit from a trade continuity agreement maintaining current arrangements with countries in the Caribbean soon after Britain leaves the EU. Read moreĀ 

    Ring the alarm: Diversification of Caribbean Export must take priority

    Barbados Today: According to International Trade Attorney Magda Theodate, there are four major economic storm clouds keeping the Caribbean sun from shining over the heads of CARICOMā€™s 15-member state governments, and their even more vulnerable neighbours. Swift action is needed to ensure better times ahead for the people of the region. Read moreĀ 

    Bahamas delegation to attend 4th WTO accession meeting

    Eye Witness News: The Government of The Bahamas wishes to advise that a delegation is attending the 4th Meeting of the Working Party on the accession of The Bahamas to the World Trade Organization (WTO) on April 5, 2019 in Geneva, Switzerland. Read moreĀ 

    Poultry Producers In Push For Quotas

    Tribune 242: A Bahamian poultry producer yesterday revealed it is ā€œpushingā€ for chicken imports to be regulated by quotas rather than the current tariff system as The Bahamasā€™ march to WTO accession continues. Read moreĀ 

    Caribbean Countries urged to take more advantage of EPA

    TV6 T&T: Former Barbados prime minister, Owen Arthur, says Caribbean Community regional countries have failed to take full advantage of the 10-year-old Economic partnership Agreement (EPA) signed between the Caribbean Forum (CARIFORUM) and the European Union. Read moreĀ 

    Belizeā€™s bananas safe from Brexit fallout

    Breaking Belize News: The newly signed EPA is good news for Belizeā€™s banana industry because the UK is the major importer of Belizeā€™s bananas, importing as much as 69 percent of Belizean bananas in 2017. Regional media outlets noted that producers of rum are also glad that trade will continue uninterrupted. Read moreĀ 

    No big deal

    Barbados Today: Former Prime Minister Owen Arthur is warning Caribbean leaders not to expect a major trade deal with the UK when it leaves the European Union (EU). Read moreĀ 

    INTERNATIONAL

    U.S. to push for comprehensive free trade agreement as it looks to open up Japan’s agriculture market

    Japan Times: U.S. President Donald Trump said Tuesday his administration will push for a comprehensive free trade agreement with Japan and signaled his eagerness to seek a further opening of the countryā€™s agriculture market. Read moreĀ 

    Solomon Islands eyes more trade with Indonesia

    Radio New Zealand: It came after trade talks held between Indonesia and several Pacific Island nations last week in Jakarta. Colin Beck, a permanent secretary with the Solomon Islands Foreign Ministry, said his government wanted to open port-to-port trade in Indonesia. Read more

    Australia to sign free trade deal with Hong Kong

    The Sydney Morning Herald: Australia will sign a new agreement covering $18.8 billion in free trade with Hong Kong on Tuesday, as Labor prepares to officially back the Australia-Indonesia free trade deal if it wins government. Read moreĀ 

    Is Brexit an opportunity to revive the EU-India trade deal?

    The Conversation: The European Union and India have been negotiating a free trade agreement (FTA) since 2007. Despite growing trade between the EU and India, talks stalled in 2013 after 16 rounds, only resuming in 2018. Read moreĀ 

    China Touts Progress With U.S. as Both Focus on a Final Deal

    Bloomberg: Chinese and U.S. negotiators made ā€œnew progressā€ in trade negotiations as both sides discussed the wording of an agreement thatā€™s designed to resolve a bilateral trade dispute, according to Beijingā€™s official news agency Xinhua. Read more

    Bipartisan Support Seen for a US-Taiwan Free-trade Deal

    VoA: Influential figures in Washington are calling for the establishment of a bilateral free-trade agreement with Taiwan, even as U.S. and Chinese officials move toward a resolution of their long-running trade dispute.Ā  Read more

    USMCA is Not a Done Deal. It Must Still Clear Three Legislative Hurdles

    Atlantic Council: On November 30, the leaders of the United States, Canada, and Mexico signed the US-Mexico-Canada Trade Agreement (USMCA), modernizing the 1994 North American Free Trade Agreement (NAFTA) and ā€œrebalancingā€ trade relations between the three countries, according to the US administration. Before the new pact officially takes effect, however, the legislatures of all three countries need to approve the agreement. Read moreĀ 

    ECOWAS urges member states to sign AfCFTA

    Journal du Cameroun: The Director of Trade, Economic Community of West African States (ECOWAS), Mr. Gbenga Obideyi, has called on member states to sign the African Continental Free Trade Agreement (AfCFTA) to ensure the preservation of the ECOWAS acquis.Obideyi made the call in Abuja on Thursday during a national validation workshop on the study conducted by the National Association of Nigerian Traders (NANTS) on Articulating Nigeriaā€™s Agricultural Trade Strategies for the AfCFTA Negotiation. Read moreĀ 

    AfCFTA: One year down the road, thereā€™s reason for celebration

    The New Times: Stephen Karingi, ECAā€™s Director for Regional Integration and Trade spoke to The New Timesā€™ James Karuhanga, shedding light on what is expected between now and the next African leadersā€™ summit in Niamey, Niger in July. Read moreĀ 

    Is AfCFTA Good for Africa? Experts Shared Their Views at the 2019 Oxford Business Forum Africa

    African Exponent: Hosted by the Schoolā€™s Oxford Africa Business Alliance, the event explored the implications of the African Continental Free Trade Agreement (AfCFTA) on the development and ease of doing business on the continent. Read moreĀ 

    UK exports to India grow at fastest rate among non-EU trading partners

    Business Standard: UK’s exports to India increased at the fastest rate among the country’s top trading partners outside the European Union (EU), with a 19.3 per cent hike in goods and services trade in 2018, according to official figures. Read moreĀ 

    Report on EU Trade Defence

    European Commission: The Juncker Commission has strengthened Europe’s trade defence toolbox through two major reforms. Since 2014, it has also applied 95 measures to ensure that European companies and workers can compete on fair terms. Two-thirds of all the 135 measures in place concern imports from China. Read moreĀ 

    ACPā€™s efforts post-Cotonou must be economically sustainable – Tweya

    New Era Live: Namibia has reaffirmed its commitment to the African, Caribbean and Pacific (ACP) and European Union (EU) partnership and says it will do all it can to honour and work toward the commitments embodied in the Cotonou Agreement and post-Cotonou when it expires in 2020. This was the message by Minister of Industrialisation, Trade and SME Development, Tjekero Tweya, when he spoke on Wednesday at the 37TH session of ACP-EU Joint Parliamentary Assembly that took place in the Bucharest, Romania. Read moreĀ 

    WTO NEWS

    Appellate Body issues report on US compliance in the Boeing dispute

    On 28 March the WTOā€™s Appellate Body issued its report on US compliance in the dispute brought by the European Union in ā€œUnited States ā€” Measures Affecting Trade in Large Civil Aircraft ā€” Second complaintā€ (DS353). Read more

    Guatemala initiates WTO dispute complaint against Indian sugar subsidies

    Guatemala has requested WTO dispute consultations with India regarding domestic support measures and alleged export subsidies provided by India to producers of sugarcane and sugar. The request was circulated to WTO members on 25 March. Read moreĀ 

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