Tag Archives: trade news

Caribbean Trade & Development Digest – April 23-29, 2017

Source: Pixabay

Welcome to the Caribbean Trade and Development Digest for the week of April 23-29, 2017! We are pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World.

We do apologise for the lack of a Digest for the past two weeks due to my travelling. It has been an interesting two weeks in world trade, with the US imposing tariffs on Canadian softwood lumber imports and the EU releasing its Guidelines for the Brexit Negotiations with the UK pursuant to Article 50. On the home front, Belize has concluded its third World Trade Organisation (WTO) Trade Policy Review. And that’s just the tip of the iceberg! We hope you enjoy this edition.

REGIONAL NEWS

Belize has concluded its third WTO trade policy review

WTO: The third review of the trade policies and practices of Belize takes place on 24 and 26 April 2017. The basis for the review is a report by the WTO Secretariat and a report by the Government of Belize. Read more

US and region deepen security ties

Nation News: The United States has pledged its commitment to deepening its cooperation with the Caribbean region to combat all threats. Read more

Barbados Hotel occupancies drop during the first quarter

BarbadosToday: Against the backdrop of a fall in hotel occupancies and weak returns on hotel room rates during the first quarter of this year, Chairman of the Barbados Hotel and Tourism Association (BHTA) Roseanne Myers Wednesday disclosed that travel agents from source markets were reporting that some repeat visitors were opting not to travel in winter because they were waiting for “when the rates are a little better”. Read more

Hopes for Caribbean Trade Boost

Business Authority: Local exporters, and their Caribbean counterparts, stand to benefit now that a major international trade agreement has come into force.  Read more

Barbados records significant rum trade with Europe

Jamaica Observer: Barbados has exported BDS$89.9 million (US$44.95 million) in rum products to the European Union over a four year period, Commerce Minister Donville Inniss has said. Read more

Barbadian Rum producers fear results of French election

BarbadosToday: Barbadian rum producers are keeping a close eye on the French presidential run-off election scheduled for May 7, fearing the results could hurt the local industry. Read more

Gopee-Scoon talks trade with local high commissioner and ambassador

Loop Trinidad: Trade and Industry Minister Paula Gopee-Scoon met with the High Commissioner-designate to the United Kingdom Orville London and Ambassador-designate to Costa Rica Tracey Davidson –Celestine on Wednesday. Read more

Sector leader sees improved trade relations with Trinidad & Tobago

Jamaica Gleaner: President of the Jamaica Manufacturers’ Association (JMA) Metry Seaga says his organisation has received fewer complaints from local manufacturers about unfair trade practices by their Trinidadian counterparts. Read more

We will do everything to keep GuySuCo alive – says Granger

Stabroek: President David Granger said today that his government will do everything possible to keep the sugar industry alive. Read more

Guyana considers Suriname’s gold export model

Demerara Waves: Guyana’s recent foreign currency shortage appears to have caused government to consider adopting Suriname’s model to ensure that more earnings from gold sales goes directly to the national treasury. Read more

Granger names three sugar estates to be retained

Demerara Waves: President David Granger has named at least three sugar estates that will be retained as part of a restructured Guyana Sugar Corporation. Read more

INTERNATIONAL NEWS

European Council Releases (Article 50) Guidelines

EU: The European Council has released its guidelines for the upcoming Article 50 Brexit negotiations with the UK. Read more

Africa and China trade is booming

BusinessReport: China remained Africa’s biggest trading partner as bilateral economic relations boomed, said Jiang Zengwei, head of the China Council for the Promotion of International Trade. Read more

US imposing 20 percent tariff on Canadian softwood lumber

CNBC: U.S. Commerce Secretary Wilbur Ross said on Monday his agency will impose new anti-subsidy tariffs averaging 20 percent on Canadian softwood lumber imports, a move that escalates a long-running trade dispute between the two countries. Read more

US lumber tariffs hit B.C. manufacturers hard

CBC Canada: New softwood lumber tariffs being imposed by the U.S. are already cutting deep into B.C. businesses. Read more

DG Azevedo: Global trade challenges are best tackled through the multilateral system

WTO: The WTO should seek to bolster global economic cooperation in order to leave a strong and well-functioning trading system for future generations, said Director-General Roberto Azevêdo. Read more

Downgrades depress South African exports and trade

BusinessReport: Recent credit downgrades by Standard and Poor’s (S&P) and Fitch have put more pressure on South African exports and international trade. Read more

WTO issues panel report on Chinese cellulose pulp duties

WTO: On 25 April 2017 the WTO issued the panel report in the case brought by Canada in “China – Anti-Dumping Measures on Imports of Cellulose Pulp from Canada” (DS483). Read more

Arbitrator issues decision in Mexico-US tuna dispute

WTO: On 25 April, a WTO arbitrator issued a decision on the level of retaliation that Mexico can request in its dispute with the United States over US “dolphin safe” labelling requirements for tuna products (DS381). Read more

ACP: One billion people to speak to Europe with one voice

The Southern Times: Seventy-nine countries from Africa, the Caribbean and the Pacific, which are home to around one billion people, will speak with one voice as they prepare to negotiate a major partnership agreement with the European Union (500 million inhabitants) in May. Read more

EU tells May: Give our citizens their rights or no trade talks

The Guardian: The EU has called on Theresa May to provide immediate “serious and real” guarantees to its citizens living in Britain. Read more

Some important clarifications on the EPA

The Guardian: All of the ECOWAS countries, apart from Nigeria and the Gambia, have to date signed the EU-West Africa Economic Partnership Agreement (EPA). The EPA may enter into force only if all ECOWAS member states sign and if at least two thirds ratify the agreement. Read more

Examining Trump’s record on trade

NPR: When the president speaks the world listens. Adam Behsudi of Politico talks with NPR’s Scott Simon about how Donald Trump’s outspoken commentary is affecting international trade with the U.S. Read more

Trump on trade: Scrutinise NAFTA, other deals for abuses

Politico: President Donald Trump’s latest executive order on trade calls for review of all U.S. free trade agreements — including NAFTA and the World Trade Organization pact — and possible renegotiation of any deal to eliminate “violations and abuses,” Commerce Secretary Wilbur Ross said Friday. Read more

Difficult trade-offs necessary for RCEP to be worthwhile: PM Lee Hsien Loong

Strait Times: Asean is keen to conclude a region-wide trade agreement with its key partners, but the pact must have substance to be worthwhile, said Prime Minister Lee Hsien Loong on Saturday (April 29). Read more

Southeast Asia prioritises trade pact including China

Channel News Asia: Southeast Asian countries will prioritise creating an Asia-focused trade pact this year that includes China, India and Japan, while trade issues with the United States will be put on the back burner, the Philippine trade minister said. Read more

Mwagiru: Durban forum expected to focus on intra-Africa trade

Daily Nation: Wary of the perils of depending on reluctant donors for its survival, Africa is on a quiet quest for self-reliance and intra-regional cooperation. These are among the themes that will feature at the three-day World Economic Forum that opens in Durban, South Africa, on Wednesday. Read more

CTLD NEWS

IMG-20170428-WA0014

Alicia Nicholls presenting her paper at the SALISES Conference, Trinidad.

Alicia Nicholls presented a paper at the 18th Annual SALISES Conference 2017, a major academic conference organised annually by the University of the West Indies (UWI). The Conference was hosted this year by the Trinidad (St. Augustine Campus) at the Hyatt-Regency Hotel in Port of Spain, Trinidad & Tobago.

Alicia’s paper is a work in progress and is entitled “Economic Citizenship and Freedom of Movement of the Caribbean Community National: An Irreconcilable Tension?”.

The theme of this year’s conference was “Small Nations, Dislocations, Transformations: Sustainable Development in SIDS” and was held over the period April 26-28, 2017.

For more CTLD News see News & Announcements

NEW ON CTLD BLOG

French Election 2017: What’s at stake for the world and the Caribbean?

The Trump Presidency – Implications and Opportunities for Caribbean IFCs

PM May calls snap election: Pros and Cons

Liked this issue? Read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.

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Caribbean Trade & Development Digest – March 19-25, 2017

Welcome to the Caribbean Trade and Development Digest for the week of March 19-25,2017!  I am pleased to share some of the major trade and development headlines and analysis across the Caribbean region and the World.

It is “Brexit Week”! This Wednesday United Kingdom (UK) Prime Minister Theresa May is expected to trigger Article 50, beginning the formal process of the UK’s withdrawal from the European Union (EU). I trust you will enjoy this week’s edition of our Caribbean Trade and Development Digest!

For past issues of our weekly Caribbean Trade & Development Digest, please visit here.

To receive these mailings directly to your inbox, please follow our blog.

REGIONAL NEWS

Grenada joins list of CARICOM countries to ban corned beef from Brazil 

Jamaica Observer: Grenada has join the list of countries within the Caribbean Community (CARICOM), to place a ban on the importation and consumption of corned beef from Brazil. Read more 

Dominican Republic: Plantain contribution vital to GDP

Fresh Plaza: The Dominican Republic’s plantain sector contributes more than RD $14.000 million per year to the country’s gross domestic product (GDP) and it is one of the products that promotes the economy’s development the most, stated the chief executive of the Dominican Agribusiness Board, Osmar Benitez. Read more 

CARICOM to introduce secure, harmonised skills certificate

Antigua Observer: The Caribbean Community (Caricom) said it will be implementing a harmonised skills certificate with a range of security features under the Caricom Single Market & Economy (CSME) regime. Read more 

EU wants to advance common agenda with CARICOM in global fora

Nation News: The Caribbean Community (CARICOM) on Wednesday accredited a new Ambassador of the European Union (EU), with the new envoy advocating for the relationship to more effectively advance a common agenda in global and multilateral fora. Read more 

Jamaica, Brazil face off over “bully beef”

Jamaica Observer: Jamaica and Brazil appear to be heading towards a trade row over the island’s ban on corned beef imported from that South American country as both sides yesterday took hard positions on the measure. Read more 

Finland expresses interest in CARICOM’s bioenergy potential

Jamaica Gleaner: Finland has expressed an interest in exploring the bioenergy potential in mainland territories of the 15-member Caribbean Community (CARICOM) countries. Read more 

EUR 24m in support to the Caribbean’s private sector

St Lucia Times: The European Union (EU) have signed the 11th European Development Fund (EDF) agreement worth EUR 24 Million to support regional private sector development. Read more 

INTERNATIONAL NEWS

Trump to review all 14 US FTAs

Fortune: The Trump administration is preparing new executive orders to re-examine all 14 U.S. free trade agreements and review government procurement policies to aid American companies, two administration officials said. Read more 

EU, Mercosur Countries Work to Speed up trade talks 

ICTSD Bridges: Talks on a potential trade deal between the EU and Mercosur have reportedly been gaining renewed traction, with diplomats from both trading partners affirming their commitment to bringing the long-running negotiations closer to a successful conclusion. Read more 

Pacific countries to sign deal next month

Radio New Zealand: Pacific Island countries are expected to sign the proposed regional trade deal called PACER Plus next month. Read more 

Anti-Brexit protesters march in London 

The Australian: Tens of thousands of protesters marched in London against plans for Britain to withdraw from the European Union. Read more 

China, Australia work together to develop Asia-Pacific Trade

Global Times: At a time of uncertainty, where protectionist economic policy poses some threats to the broader global market, Chinese Premier Li Keqiang‘s visit to Australia has highlighted the importance of the two nation’s responsibility to work together and develop trade in the Asia-Pacific. Read more 

Africa Trade Meeting Has no Africans after Visa denials

VOA: Each year, the University of Southern California brings delegations from Africa to meet with business leaders, government officials and others in the U.S. But this year, the African summit has no Africans. All were denied visas. Read more 

Outcomes from FATF annual Private Sector Consultative Forum

FATF: The Financial Action Task Force (FATF) held its annual Private Sector Consultative Forum on 20-22 March 2017 in Vienna, Austria, hosted by the United Nations Office on Drugs and Crime (UNODC).Read more 

Japanese, European leaders push for swift conclusion to trade talks

ICTSD Bridges: Japanese Prime Minister Shinzo Abe met with German Chancellor Angela Merkel on Sunday 20 March in Hanover, renewing calls to finalise negotiations on a EU-Japan free trade accord and defending open and fair trade. Read more 

Wildlife Trade: China Reports drop in demand for ivory

ICTSD Bridges: The past month has seen a series of domestic efforts aimed at addressing different aspects of wildlife trade, from the implementation of measures to further regulate or curb ivory sales in various countries and a debate in South Africa over domestic trade in rhino horn. Read more 

MacAuley Looks to tap Asia-Pacific trade for Canada

The Guardian: MacAulay held talks with his counterparts in both countries to promote Canadian products like lobster, livestock genetics, blueberries, grains and oilseeds. Read more 

Algeria ready to strengthen trade with South Africa

Brand South Africa: Algerian ambassador to South Africa Abd-El-Naceur Belaid called for stronger economic partnerships between Algeria and South Africa at an Algeria-South Africa trade and investment summit held in Johannesburg. Read more 

Canada aims to avoid Brexit cliff-edge with trade talks 

Toronto Star: The government is pushing for its trade deal with Europe to be ratified by Britain before it leaves the European Union to secure the crucial agreement. It also has its eye on deeper relations with the U.K. once Brexit is complete. Read more

RCEP “another important path” for trade liberalisation

Channel News Asia: Even as the United States has pulled out from the Trans-Pacific Partnership (TPP), both Singapore and Vietnam are “watching how things will develop” on the trade pact, said Prime Minister Lee Hsien Loong, at the end of his visit to Vietnam on Friday (Mar 24). Read more 

Panels established to review US renewable energy measures and Russian transit restrictions

WTO News: The Dispute Settlement Body (DSB) agreed on 21 March to the establishment of two new dispute panels: one to review a complaint filed by India regarding certain measures at the state level in the United States to promote renewable energy; and the second to review Ukraine’s complaint regarding restrictions on goods in transit through the Russian Federation. Read more 

UK Food Lobby Calls for Tariff-Free Post Brexit Trade with EU

Bloomberg: Industry bodies representing the U.K. food supply chain have called on the government to seek a tariff-free trade agreement with the European Union during coming Brexit negotiations. Read more 

Malaysia remains open on TPP

The Borneo Post: Malaysia is still keeping its options open on the Trans-Pacific Partnership (TPP) as 10 of its signatories met in Chile last week, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. Read more 

US Chamber urges quick vote on USTR pick: Lighthizer

The Hill: The nation’s largest business lobby on Wednesday threw its support behind President Trump’s pick to lead U.S. trade policy. Read more 

Mexico prepared to “step away” from NAFTA if negotiations don’t benefit the country

Mercopress: Mexican Foreign Minister Luis Videgaray said that if North American Free Trade Agreement negotiations don’t benefit all parties involved, the country is willing to “step away” from it. In an interview with Bloomberg, he said pulling out of NAFTA would be a last resort. Read more 

Trumps pipeline permit to TransCanada

USA Today: The company responsible for the Keystone XL oil pipeline said Friday that President Trump’s administration signed off on the project, clearing a hurdle for a polarizing endeavor that has rankled environmentalists and inspired hope for jobs among supporters. Read more 

Trump trade negotiator wants stronger ties with Taiwan 

China Post: U.S. President Donald Trump’s nominee for trade representative has urged stronger bilateral ties with Taiwan, according to a report released Tuesday. Read more 

CTLD NEWS 

Read my latest commentary Sport, Entrepreneurship and Development

Caribbean Trade Law & Development (CTLD) and the Africa Caribbean & Pacific Young Professionals Network (ACP YPN)  have submitted joint written evidence to the United Kingdom (UK) House of Commons’ International Trade Committee’s on-going UK-US Trade Relations Inquiry . The inquiry  is examining the potential for a trade agreement between a post-BREXIT UK and the United States  of America (US).Our joint submission has been published on the UK House of Commons’ ITC’s website and may be viewed here.

Liked this issue? Read past issues of our weekly Caribbean Trade & Development Digest, please visit here. To receive these mailings directly to your inbox, please follow our blog.

Caribbean Trade & Development Digest – November 20-December 3, 2016

Photo source: Pixabay

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.

To receive these mailings directly to your inbox, please follow our blog.

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.