Caribbean Trade Law and Development

Tag: trade news

  • Caribbean Trade and Development News Digest – October 4-10, 2020

    Caribbean Trade and Development News Digest – October 4-10, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of October 4-10, 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

    The next WTO Director-General will be female! Nigeria’s Dr. Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee are the two finalists for selection as the organisation’s seventh DG. Read more here.

    The EU foreign investment screening mechanism is operational. In March 2019, the EU had adopted a regulation setting up a framework for the screening of investments from non-EU countries (foreign direct investment) that may affect security or public order and will apply as of October 11. Read the full press release here.

    CARICOM has released a statement strongly condemning the EU’s inclusion of some CARICOM States on its blacklist of non-cooperative tax jurisdiction.

    REGIONAL NEWS

    Trinidad & Tobago Govt, Caricom to help service sector

    Newsday: In order to better assist the recovery of regional service industries during the pandemic, the Ministry of Trade and Industry will partner with Caricom to develop a strategy for the recovery of the service sector, according to acting permanent secretary Ayleen Alleyne-Ovid. Read more

    Trade survey assesses exports services sector

    LoopTT: Trinidad and Tobago is, now more than ever, closer to obtaining accurate data on trade to improve the sector. This is as a result of a recent survey executed by the Arthur Lok Jack Global School of Business. Read more

    Cuba says it’s contained coronavirus outbreak, plans to open for tourism next week

    CNBC: Thirteen of Cuba’s sixteen provinces will now be open to tourism as the country says it’s successfully curbed coronavirus infections with strict measures and a curfew. Read more

    Accelerating trade between Jamaica and China now possible

    Jamaica Observer: Trade between Jamaica and China is to be accelerated with the launch of the Jamaica China Business Forum (JCBF), which aims to increase exports between the two countries. Read more

    Caribbean Trade Legislation Passes U.S. Senate

    Caribbean National Weekly: Legislation which extends the United States-Caribbean Basin Trade Partnership Act (CBTPA) through 2030, passed the U.S. Senate last month by unanimous consent,” the Guyana-based Caribbean Community (CARICOM) Secretariat reported. It said HR 991 passed the House on September 23 and the “legislation will come into force when signed by President Donald Trump. Read more

    Standards for nutrition labels coming

    Barbados Today: By the end of this month, officials are expected to decide on long-awaited standards for front nutrition labels on locally and regionally manufactured food and drink products. Deryck Omar, Chief Executive Officer of the CARICOM Regional Organization for Standards and Quality (CROSQ), said the time was quickly approaching for the organisation to receive the draft document from the technical team. Read more

    Standards and quality still important

    Barbados Today: Barbados and other Caribbean Community (CARICOM) states are being warned that now is not the time to “slack” on investment in quality and standards, even as they seek to cut back on spending as a result of the COVID-19 pandemic. Read more

    DDA introduces ‘Safe in Nature’ brand concept for Dominica’s tourism industry

    Dominica News Online: In its continuing efforts to uphold the national protocols for safeguarding both locals and visitors, the Discover Dominica Authority (DDA), alongside the Ministry of Tourism and stakeholders in that sector, has introduced the ‘Safe in Nature’ brand concept. Read more

    Statistical Institute of Belize: Export revenues fall by over 15 percent between January and August

    Breaking Belize News: Тhе lаtеѕt Ехtеrnаl Тrаdе Вullеtіn (ЕТВ), рublіѕhеd bу thе Ѕtаtіѕtісаl Іnѕtіtutе оf Веlіzе, ѕауѕ thаt Веlіzе mаdе 15.7 реrсеnt ($46.9 mіllіоn) lеѕѕ іn ехроrt rеvеnuеѕ fоr thе mоnthѕ Јаnuаrу-Аuguѕt 2020, thаn fоr thе ѕаmе реrіоd іn 2019. Read more

    JAMPRO Seeks Greater Support for Export Max

    JIS: President of Jamaica Promotions Corporation (JAMPRO), Diane Edwards, is appealing for more private-sector companies to partner with the entity in executing the Export Max programme. Read more

    Taiwan, Belize sign pacts on trade, legal assistance and aviation

    Focus Taiwan: Taiwan and Belize have reached three separate agreements to promote and strengthen their diplomatic ties through bilateral cooperation in the fields of trade, legal assistance and aviation. Read more

    UK appoints new trade envoy to the Caribbean

    Jamaica Observer: Britain’s Prime Minister, Boris Johnson, has appointed Darren Henry as the new trade envoy to the Commonwealth Caribbean. A British government statement said that the Commonwealth Caribbean markets will include Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St Lucia, St Vincent and the Grenadines, St Kitts and Nevis and Trinidad and Tobago. Read more

    Building Post COVID CARICOM Food Security – A Cassava Industry

    Stabroek: These difficult months of the COVID pandemic have once more brought to the fore the need to address our long term food security. Our accessibility to food has been disrupted as incomes have decreased due to reduced formal and informal employment opportunities. Read more

    INTERNATIONAL NEWS

    China faces ‘difficult trade-off’ as WTO leadership race heads into final round

    South China Morning Post: The field of candidates to lead the World Trade Organization (WTO) was cut to two on Thursday, in a historic move that means the Geneva-based body will get its first female director general. Read more

    China says U.S. TikTok, WeChat bans break WTO rules

    Reuters: China said at a World Trade Organization meeting that restrictions by the United States on Chinese mobile applications TikTok and WeChat are in violation of the body’s rules, a trade official said. Read more

    Brexit: Trade negotiators meet, as deadline looms

    BBC: EU chief negotiator Michel Barnier has met his UK counterpart in London for the latest round of talks on their post-Brexit trading relationship. Read more

    UK statement to the WTO Committee on Government Procurement

    Gov.uk: The UK’s Ambassador to the WTO in Geneva, Julian Braithwaite, delivered this statement at the WTO’s Committee on Government Procurement. Read more

    EU and UK teams pin hopes on ‘tunnel’ talks to deliver Brexit deal

    The Guardian: British and EU Brexit negotiators have renewed belief that the bloc’s leaders will be able to usher in an intense and decisive “tunnel” negotiation for the last weeks of October when they meet at a summit in Brussels on Thursday. Read more

    Brexit: EU and UK in choppy waters over fishing rights

    France24: Fishing rights have been one of the main sticking points in Brexit negotiations between the European Union and the United Kingdom since March. Yet neither side appears ready to concede, despite mounting fears within the fishing industry over the consequences of a “no-deal” exit. Read more

    Post-Brexit: Britain and EU agree to pursue ‘mini-deals’ if talks fail next week

    The Times: British and EU negotiators have agreed to keep talking to offset the most disruptive aspects of a no-deal Brexit even if trade negotiations break down. Read more

    Britain open to Aussie-style EU trade deal but Australia wants more

    Reuters: As Britain’s negotiations with the European Union on a post-Brexit trade deal go down to the wire, Prime Minister Boris Johnson says his country could trade with the bloc on similar terms to Australia, if no agreement is reached. Read more

    UK and Ukraine sign Political, Free Trade and Strategic Partnership Agreement

    Gov.uk: The agreement will ensure ambitious cooperation in political, security and foreign matters with Ukraine, while also securing continued preferential trade for businesses and consumers. Read more

    Cambodia-China Free Trade Agreement to be signed by Monday during Chinese State Councilor’s visit

    Khmer Times: Wang Yi, State Councilor and Minister of Foreign Affairs of the People’s Republic of China, will pay an official visit to the Kingdom of Cambodia on October 11-12, 2020. Read more

    Turkey-US trade volume improves despite COVID-19 pandemic

    Daily Sabah: A free trade agreement between Turkey and the U.S. would mutually liberalize trade in certain sectors and give a boost to bilateral ties, Deputy Trade Minister Rıza Tuna Turagay said, as the two NATO allies move toward their $100 billion trade goal. 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 – September 13-19, 2020

    Caribbean Trade and Development News Digest – September 13-19, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of September 13-19, 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

    And then there were five! The race for who will be the next Director-General of the World Trade Organization (WTO) has narrowed from eight candidates to five: Amina Mohamed (Kenya), Ngozi Okonjo-Iweala (Nigeria), Mohammad Maziad Al-Tuwaijri (Saudi Arabia), Yoo Myung-hee (South Korea), and Liam Fox (The United Kingdom).Read more here.

    A WTO dispute settlement panel found that additional tariffs imposed in 2018 by the US on Chinese goods contravened the US’ obligations under international trading rules. Read the panel report here. The WTO’s latest Services Barometer shows “modest gains in some key sectors, suggesting a degree of resilience in the face of the pandemic”. Read more here.

    Regionally, US Secretary of State Michael Pompeo made a state visit to Guyana this week where he also met with the Secretary-General of the Caribbean Community (CARICOM), H.E. Irwin LaRocque. The renewal of the Caribbean Basin Trade Partnership Act (CBTPA), due to expire at the end of this month, was among the topics discussed during the meeting. Read more here.

    REGIONAL NEWS

    Pompeo asks Suriname, Guyana to favour US business over China

    Al Jazeera: Pompeo becomes the first US secretary of state to visit the two South American states where oil was recently discovered. Read more

    CARICOM SG raises economic fallout from pandemic with Pompeo

    Stabroek: The severe economic fallout from the COVID-19 pandemic on CARICOM countries was one of the issues raised yesterday by Secretary-General Irwin LaRocque with visiting US Secretary of State, Mike Pompeo. Read more

    OECS Foreign Ministers Discussed Blacklisting Of Tax Havens By European Union

    St Kitts Nevis Observer: The meeting addressed issues of critical concern to the Organization and its Member States including key developments in the international arena; the ongoing negotiations between the Organization of African, Caribbean and Pacific States (OACPs) and the European Union (EU) on a new Agreement post-Cotonou; blacklisting of States as “non-cooperative tax jurisdictions” by the European Union, BREXIT and its implications for Cariforum/UK Trade and Economic Relations; and strategic joint diplomatic and commercial engagement in specified jurisdictions. Read more

    Caribbean countries record 50 per cent decline in visitor arrivals in first six months of 2020

    Jamaica Observer: Caribbean countries have recorded a 50 per cent decline in tourist arrivals up to the month of June this year, a senior official of the Caribbean Tourism Organisation (CTO) said earlier this week. Read more

    Barbados to establish diaspora unit and four new embassies

    BGIS: The Diaspora Unit, according to Dame Sandra, will be a platform for advancing Barbados’ economic interests abroad through the Barbadian diaspora and Friends of Barbados communities, which were described as under-used assets with regard to their networks, skills and resources. Read more

    Why Congress Needs to Renew Caribbean, GSP Trade Programs Now

    US Chamber: Washington is no stranger to “must pass” legislation, and the end of the fiscal year on September 30 and the recent lapse in several pandemic response measures rightly command congressional attention. But lawmakers should not overlook the need to renew two soon-to-lapse trade programs that support American jobs: The Caribbean Basin Trade Partnership Act (CBTPA) and the Generalized System of Preferences (GSP). Read more

    Jose Mai: Time to put agriculture first in Belize

    Breaking Belize News: Веlіzе ѕhоuld lооk tо Мехісо fоr а раrtіаl ѕсоре аgrееmеnt оn ехроrt, аnd tаkе аdvаntаgе оf оur раrtnеrѕ tо rеbuіld аgrісulturе thrоugh аn ехраndеd рrоgrаm іn ѕсhооlѕ. Read more

    Gov’t Pledges To Put Brakes On JSWIFT Hiccups

    Jamaica Gleaner: The Ministry of Industry, Investment and Commerce, in responding to a Gleaner article about the Jamaica Single Window for Trade (JSWIFT) published on Tuesday, said the portal will soon become much swifter. Read more

    Cuba shuts down interprovincial transportation due to new COVID-19 fears

    Reuters: Cuban state media reported on Saturday interprovincial transportation would be shut down and a curfew in Havana extended until the end of the month as a surge in COVID-19 cases in the capital spreads to other areas. Read more

    INTERNATIONAL NEWS

    Brexit: NI told to start work on checkpoints at sea ports

    BBC: A letter from the UK government to Stormont’s Agriculture Department instructs it to start work on check-points at NI’s sea ports without delay. The letter, seen by BBC News NI, says it is critical checks are in place, stating such moves are in accordance with the Northern Ireland protocol. Read more

    Biden or Trump, no guarantee of a post-Brexit U.S.-UK trade deal

    Reuters: U.S. presidential candidate Joe Biden’s recent warning that Britain must honor Northern Ireland’s 1998 peace agreement to secure a U.S. trade deal adds new complexity to already tough trade talks between the United States and the U.K. Read more

    Tariff showdown with Trump a shallow victory for Canada

    Niagara Falls Review: Donald Trump’s decision to cancel tariffs on Canadian aluminum imports is a short-term win for Ottawa. In the long run, however, it is anything but. Read more

    A brewing U.S.-China tech cold war rattles the semiconductor industry

    CNBC: As trade tensions mount between the U.S. and China, the U.S. semiconductor industry fears a tech cold war could disrupt the global supply chain. Now companies on both sides of the Pacific are trying to develop strategies to mitigate risk — whether it’s hoarding supplies or looking at shifting the location of production facilities. Read more

    How Will the Coronavirus Pandemic Permanently Change the Travel Trade?

    TravelPulse: As with all monumental global events, the coronavirus pandemic will create permanent change throughout the world, including the travel advisor community. Read more

    U.S. calls off tariffs on Canadian aluminum — for now

    CBC (Canada): The United States hit the pause button on tariffs on Canadian aluminum today, agreeing to withdraw current penalties — at least until after the presidential election in November. Read more

    US companies seeking tariff relief faced red tape, delays

    AP: Companies seeking relief from President Donald Trump’s taxes on imported steel and aluminum ran into long delays and cumbersome paperwork, a federal watchdog found. Read more

    Global service trade decline shows signs of bottoming out – WTO

    Reuters: A contraction in global trade in services caused by the COVID-19 pandemic is showing signs of bottoming out, the World Trade Organization said on Thursday as its trade barometer index fell to a record low. Read more

    Top UN economists warn of crises of our own making if global ‘megatrends’ left unchecked

    UNCTAD: Five human‑made “megatrends” will continue to dominate and frustrate global efforts to put the world on a more sustainable and prosperous path, unless urgent policy interventions to influence them are taken now, the UN Economist Network warned today in a new report. Read more

    Nigeria working to attract more foreign direct investments to prepare for AfCFTA – Trade Minister

    Nairametrics: Nigeria’s Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said that Nigeria is actively working to attract more foreign direct investments into key industries to meet the demands of the African Continental Free Trade Area (AfCFTA). Read more

    Zimbabwe: Rules of Origin Key to Success of AfCFTA

    AllAfrica: The protocol of trade in goods is comprised of 32 articles and nine annexes in the Africa Continent Free Trade Agreement (AfCFTA). Annex 2 of the protocol of trade in goods focuses on rules of origins and is complemented by various appendixes. Read more

    Ghanaian businesses need support to ‘win’ under AfCFTA – AGI

    Ghanaweb: Business setbacks such as high cost of power, access to capital, among others, remain a concern for Ghanaian industries, and if the government wants to “win” with the African Continental Free Trade Area (AfCFTA), it needs to ensure businesses are supported to become competitive, the Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Cleanse Akpeloo, has said. Read more

    Mauritania Finalizes AfCFTA Implementation Strategy

    AllAfrica: The Ministry of Trade, Industry and Tourism of the Islamic Republic of Mauritania and the ECA Office in North Africa will hold today in Nouakchott (Mauritania) a workshop to validate the national strategy for the implementation of the African Continental Free Trade Area (AfCFTA). Read more

    Ukraine, Turkey restart free trade agreement talks

    MENAFM: Ukraine and Turkey have restarted the negotiation process on signing a free trade agreement. Read more

    Most Canadians don’t understand trade deals, but support free trade: report

    iPolitics: Survey findings released by the federal government suggest Canadians have little understanding of their country’s international trade agreements, including the recently negotiated United States-Mexico-Canada Agreement (USMCA). Read more

    Do the WTO and the 1972 Free Trade Agreement guarantee Swiss access to the EU market?

    Swissinfo.ch: The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading. Read more

    India engaging with ASEAN to review FTA: Piyush Goyal

    Financial Express: In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Read more

    France says opposes EU-Mercosur trade deal over deforestation concerns

    Buenos Aires Times: France opposed to free-trade deal in its current form due to “major” concerns about deforestation in the region, the government said on Friday. 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 – July 27 – August 2, 2020

    Caribbean Trade and Development News Digest – July 27 – August 2, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 27-August 2, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    PROF. THE RIGHT HON OWEN S. ARTHUR, FORMER PM OF BARBADOS

    I wish to start on a personal note and express condolences to the family of former Barbados Prime Minister, Prof. The Rt. Hon. Owen S. Arthur, who passed away last week. Barbados, the Caribbean and the world have lost a great statesman, economist, a committed regionalist and visionary. This Blog has lost one of its most avid readers. Though I only knew Prof. Arthur in person for a short time, I will forever remember and cherish our conversations on trade, the economy and global affairs and the unselfish way in which he so freely shared his knowledge and experiences. You can have a read of my full tribute to Prof. Arthur here.

    Among the developments in trade this week, the WTO’s General Council agreed on the guidelines for the final stage of the selection process for the next WTO Director-General. Read here. Meanwhile, Members failed to agree on an Interim WTO DG. Read the full scoop from Bloomberg here.

    On the regional front, a winner has finally been declared in the months-long Guyana elections saga. His Excellency Irfaan Ali has been declared president. Read the full statement by the Caribbean Community (CARICOM) here.

    The CTLD Blog will be on vacation hiatus for the month of August but we look forward to returning in September!

    REGIONAL NEWS

    Bahamas Bids To Secure $9m In Uk Exports Trade

    Tribune242: The government yesterday said it was aiming to secure almost $9m worth of annual Bahamian exports to the United Kingdom (UK) by ratifying a trade deal before year end. Read more

    Trade talks begin on economic partnership agreement with the UK

    EyeWitness News: The government met with the British High Commission in Nassau this week to discuss increasing trade between the UK and The Bahamas, primarily through the domestic ratification of the CARIFORUM-UK Economic Partnership Agreement (EPA) signed in London last year. Read more

    Ice cream brand started in T&T expands across Canada

    LoopTT: An ice cream brand that was started in Trinidad and Tobago in the 1940s is now giving Canadians a taste of the Caribbean with its tropical flavours. Read more

    Belize Imports way down, exports way up in June 2020 – SIB

    Amandala: The report of the Statistical Institute of Belize (SIB) on external trade for June 2020 shows that in June 2020 we imported 38.4% less goods and exported 41.1% more goods, than we did in June 2019. Read more

    Belize government launches Micro, Small and Medium Enterprise program

    Breaking Belize News: Тhе Gоvеrnmеnt оf Веlіzе, thrоugh а соllаbоrаtіvе еffоrt lеd bу thе Міnіѕtrу оf Іnvеѕtmеnt, Тrаdе аnd Соmmеrсе, thе Міnіѕtrу оf Lаbоur, Lосаl Gоvеrnmеnt аnd Rurаl Dеvеlорmеnt, аnd ВЕLТRАІDЕ аnnоunсеd thе lаunсh оf рhаѕе twо оf Gоvеrnmеnt’ѕ СОVІD-19 Unеmрlоуmеnt Rеlіеf Рrоgrаm, іnсоrроrаtіng thе рrеvіоuѕlу аnnоunсеd Місrо, Ѕmаll аnd Меdіum Еntеrрrіѕе Ѕuрроrt Рrоgrаm. Read more

    Online Application Software Making It Easier To Do Business At Ports

    JIS: A new online application software is making it easier for truckers and others using the Kingston ports to do business.The Truck Appointment System (TAS) has been implemented to manage the flow of cargo and trucking companies doing business at the two terminals, the Kingston Freeport Terminal Limited and Kingston Wharves Limited. Read more

    Jamaica’s import spend declines, export also down for January to April 2020

    Jamaica Observer: Jamaica’s imports for January to April 2020 were valued at US$1,680.6 million, a 23.1 per cent decline when compared to the US$2,186.7 million spent for the same period in 2019. Read more

    EXIM Bank, Jampro Form Export Club

    Jamaica Gleaner: Jamaica’s export-import bank is lending support to the export initiative out of investment promotion agency Jampro, which helps entrepreneurs with market access. Read more

    Exim Bank commits more than $5 million to Export Max III

    LoopJamaica: The National Export-Import Bank of Jamaica (Exim Bank) has officially committed sponsorship valued at more than $5 million to the Jampro, JBDC, and JMEA export development programme, Export Max III. Read more

    INTERNATIONAL NEWS

    Exclusive: WTO unlikely to get interim leader as U.S. insists on its candidate, causes impasse

    Reuters: The World Trade Organization will likely not appoint an interim chief to succeed outgoing Director-General Roberto Azevedo in late August, three sources following the process said on Wednesday, after Washington’s insistence on a U.S. candidate caused a deadlock. Read more

    Govt allows export of made-in-India ventilators

    BusinessToday: Following the approval, the decision was communicated to the Director General of Foreign Trade (DGFT), which then issued a notification allowing the export of indigenously manufactured ventilators. Read more

    With eye on China, India looks to increase barriers on imports from Asia

    Economic Times: New Delhi is considering measures to prevent trade partners mainly in Southeast Asia from re-routing Chinese goods to India with little added value, two government sources said, amid strained ties with Beijing and a push for self-reliance. Read more

    RCEP signing expected to proceed in November, says Azmin

    StarOnline: The Regional Comprehensive Economic Partnership (RCEP) participating countries (RPCs), including Malaysia, are expected to proceed with the signing of the agreement in November, according to International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali. Read more

    Thailand to support farmers, entrepreneurs in tapping RCEP potential

    XinhuaNet: Thailand’s Ministry of Commerce said on Tuesday that it will begin to train farmers and entrepreneurs on how to tap into the benefits of the Regional Comprehensive Economic Partnership (RCEP) this year. Read more

    Brazil optimistic about a Mercosur free trade accord with Canada

    Mercopress: An estimate by Brazil´s Confederation of Agriculture and Livestock (CNA) points out that the conclusion of a free trade agreement between Mercosur and Canada has the potential to increase Brazilian export revenues of agricultural products by US$7.8 billion. Read more

    AfCFTA: Nigeria not ready for restrictive rules of origin

    Nairametrics: Adopting a Restrictive Rule of Origin will not allow the Nigerian manufacturing industry enjoy the full benefits of the African Continental Free Trade Area (AfCFTA). This is according to Peter Lunenborg, the Senior Program Officer at South Centre. Read more

    How AfCFTA will help continent address Covid-19 challenges

    The New Times: A successful implementation of the African Continental Free Trade Area (AfCFTA) agreement would be crucial in helping the continent address challenges posed by the ongoing Covid-19 pandemic, a new World Bank report states. Read more

    EU-Vietnam trade agreement enters into force

    EU: EU exports to Vietnam will be taxed less as of tomorrow, 1 August. This is the immediate effect of the entry into force of the EU-Vietnam trade agreement that will ultimately scrap duties on 99% of all goods traded between the two sides. Read more

    EU and China discuss trade and economic relations

    EU: The European Union and China held today their 8th High-Level Trade and Economic Dialogue (HED). Executive Vice-President Valdis Dombrovskis, accompanied by Commissioner for Trade Phil Hogan, held the meeting via videoconference with Chinese Vice-Premier Liu He accompanied by several Vice-Ministers. 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 28-July 4, 2020

    Caribbean Trade and Development News Digest – June 28-July 4, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 28- July 4, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The UNCTAD-OECD-WTO Report on G20 Trade and Investment Measures released June 29, 2020 found that during the review period, G20 economies implemented 154 new trade and trade-related measures, 95 of them trade-facilitating and 59 trade-restrictive. It further found that “of these measures, 93 – or about 60% – were linked to the COVID-19 pandemic”. Read the full report here.

    The USMCA, the replacement for NAFTA, has taken effect but there is no end to the trade tensions among the three parties.

    This week the Hague-based International Court of Justice (ICJ) held its first virtual hearing on whether it has jurisdiction in the territorial dispute between Guyana and Venezuela to find that the 1899 arbitral award is binding. Read here

    The big news this week in the Caribbean has been the decision by leaders of the Caribbean Community (CARICOM) to dissolve regional air carrier LIAT. However, not all leaders are in favour. Antigua & Barbuda Prime Minister Gaston Browne has indicated his disagreement with giving up on the regional airline.

    CARICOM leaders met virtually on Friday, July 3. Barbados Prime Minister, Mia Amor Mottley, who held the six month rotating chairmanship of the regional bloc since January 2020, officially handed over to incoming chairman St Vincent & the Grenadines Prime Minister, Ralph Gonsalves. Watch a video from the Hand Over here.

    REGIONAL NEWS

    Guyana short-lists 19 companies to market its oil

    Reuters: A group of 19 companies including oil majors, trading houses and state-run firms were approved by Guyana’s government for the next phase of a competitive process aimed at selecting an agent for marketing its share of crude produced in the country. Read more

    Guyana Wants World Court To Confirm Border With Venezuela

    News Americas Now: Guyana may be embroiled in its own election fiasco, but it took time out Tuesday to urge the world court, the International Court of Justice (ICJ), to confirm the border between Venezuela and the then-colony of British Guiana once and for all. Read more

    Tourism bodies get funding to help in fight against illegal trade in wildlife

    Stabroek: The Tourism and Hospitality Association of Guyana (THAG) and the Guyana Tourism Authority (GTA) have received funding from the Latin American Trade Association (LATA) Foundation to create a Counter Wildlife Trafficking Communications Toolkit. Read more

    MSME Sector hard hit by COVID-19

    Barbados Advocate: The micro, small and medium enterprise (MSME) sector has been hard hit by the COVID-19 pandemic, as businesses have reported a fall-off in revenue due to measures taken to curb the spread of the virus and employers opted to go the route of layoffs rather than implementing pay cuts for their employees, during the lockdown period. Read more

    Government initiatives to help struggling small businesses coming soon

    LoopBarbados: Government will be rolling out a variety of programmes and initiatives to help Micro, Small, and Medium-Sized Enterprises (MSMEs) over the next few months. Read more

    PM Minnis: No Free Trade Zone for Andros

    EyeWitness News: Prime Minister Dr Hubert Minnis yesterday assured that the government will not approve a free trade zone in Andros and insisted his administration will not sell vast tracks of Bahamian land. Read more

    Saint Lucia launches ‘I AM CARICOM’ campaign

    St Lucia News Online: The Regional Integration Unit in the Office of the Prime Minister, in collaboration with the Caribbean Community (CARICOM) Secretariat, announces the launch of the ‘I AM CARICOM’ Communications Campaign in Saint Lucia. Read more

    Challenges of 2020 Amplify Importance of Regional Cooperation – CARICOM Outgoing Chair

    CARICOM: Outgoing Chair of the Caribbean Community (CARICOM), Prime Minister Mia Mottley of Barbados, has expressed profound gratitude to the organisation and institutions that have steered the Community through the unprecedented challenges posed so far by the year 2020. Read more

    PM Gonsalves Praises CARICOM Achievements, says Challenges Must Strengthen Movement

    CARICOM: The challenges of nature and the global political economy must serve as driving forces to build a stronger, better Caribbean Community (CARICOM), said Dr. the Hon. Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines. Read more

    CARICOM to conduct survey on impact of COVID-19 on food security

    NYCaribNews: The Guyana-based Caribbean Community (CARICOM) Secretariat Monday announced the launch of the second round of the Caribbean coronavirus (COVID-19) Food Security and Livelihoods Survey. Read more

    New models needed to encourage FDI in agriculture

    Barbados Today: The agriculture sector, which makes a significant contribution to the Gross Domestic Product (GDP) in many Caribbean economies, must look at new financing models to encourage foreign direct investment (FDI), as it seeks to rebuild from the fallout of the COVID-19 pandemic. Read more

    Imports down 39.7% in May, says SIB

    Amandala: The Statistical Institute of Belize (SIB) reported that Belize’s imports for May 2020 saw a dramatic decrease of $67.3 million, down 39.7% from the $169.4 million worth of goods we imported in May 2019. The SIB attributes most of this decrease to the COVID-19 pandemic, which resulted in an economic slowdown. Read more

    Jampro Pitching Seven Limestone Packages To Big Investors

    Jamaica Gleaner: Jampro on Wednesday pitched seven limestone packages to local and investors geared at exploiting around 50 billion tonnes of reserves laying idle across Jamaica. Read more

    We Gatherin’ could restart

    Barbados Today: Government has not closed the door on the possible restart of its Vision 2020 We Gatherin’ campaign that would see Barbadians from the diaspora returning to connect with their heritage, according to Project Coordinator for the campaign Selma Green. Read more

    Caricom SG says last four months exceptional for region

    NYCaribNews: Caribbean Community (Caricom) Secretary-General Irwin LaRocque said yesterday that the past four months have proven to be the “most exceptional periods” for the 15-member regional integration movement. Read more

    INTERNATIONAL NEWS

    The WTO needs a shake up before it’s too late

    Telegraph: Our global trading system is in trouble, and it’s only going to be made worse by the coronavirus pandemic. Read the full op-ed by Liam Fox here.

    EU trade chief Hogan says he will not seek to head WTO

    Euractiv: European Trade Commissioner Phil Hogan said on Monday (29 June) he would not seek to become the next director-general of the World Trade Organisation, despite having previously stated he was looking into the possibility. Read more

    Who Will Lead the WTO and Help It Avoid Collapse?

    Washington Post: The campaign to lead the World Trade Organization during the most turbulent period of its 25-year existence has officially begun. Playing out against the backdrop of a pandemic, a worldwide recession, the U.S.-China battle for trade supremacy and the American presidential election, there couldn’t be more at stake. Read more

    WTO needs urgent reform, says Saudi trade group

    Arab News: The World Trade Organization (WTO) requires urgent reform in the wake of the COVID-19 pandemic, according to the Think20 (T20) engagement group. Read more

    As New NAFTA Takes Effect, Much Remains Undone

    New York Times: The beginning of a new trade deal does not signal an end to trade disputes between United States, Canada and Mexico. Read more

    Justin Trudeau might skip US-Canada-Mexico summit due to tariff and coronavirus

    New York Post: Canadian Prime Minister Justin Trudeau might be skipping the United States–Mexico–Canada Agreement (USMCA) summit in Washington DC next week. Read more

    Brexit: Serious differences over trade deal, say UK and EU

    BBC: The UK and EU have said serious differences remain over a post-Brexit trade deal, following the latest negotiations in Brussels. EU negotiator Michel Barnier said the bloc’s position needed to be “better understood and respected” by the UK if an agreement is to be found. Read more

    U.K., Kenya to Negotiate Post-Brexit Trade Deal

    Bloomberg: British Prime Minister Boris Johnson and Kenya’s President Uhuru Kenyatta agreed to start negotiations for a post-Brexit trade agreement between the two nations. Read more

    UK sets September deadline for EU trade deal

    Euractiv: The UK has earmarked September as its deadline for agreeing on a new trade deal with the EU after negotiators held their first face-to-face meetings since the start of the coronavirus pandemic. Read more

    A ‘new Cold War’?: How the US-China trade dispute is deepening

    Al Jazeera: More industries are being penalised as bipartisan anti-China sentiment rises before the November polls in the US. Read more

    Niue ratifies regional PACER Plus trade agreement

    Radio New Zealand: Niue has ratified the regional trade agreement PACER Plus, pushing it closer to implementation. Read more

    China and India are sparring but neither can afford a full-on trade war

    CNN: Last month’s deadly border battle between India and China has already begun to affect business and technology. But the world’s two most populous countries have a lot to lose should the dispute escalate into a full-on trade war. Read more

    Why Accelerating Implementation of AfCFTA Must Remain a Top Priority

    Inter-press Service: 1 July 2020 was supposed to be the official date to start trading under the African Continental Free Trade Area (AfCFTA). It was a much-anticipated follow up to the 2019 African Union Summit, that launched the operational phase of the AfCFTA in a colorful ceremony in Niamey – Niger. Read more

    India may invoke GATS security exception at WTO to justify ban on Chinese apps

    Hindu Business Line: India may use its right to invoke security exceptions under the General Agreement on Trade in Services (GATS) at the World Trade Organization (WTO), if required, to justify the ban on 59 Chinese mobile apps, including the popular TikTok app, imposed by the Centre earlier this week, a government official has said. Read more

    UK statement to the WTO Committee on Trade and the Environment

    Gov.uk: The UK’s Ambassador to the WTO and UN in Geneva, Julian Braithwaite, delivered this statement at a meeting of the WTO Committee on Trade and the Environment on 3 July 2020. Read more

    STRAIGHT FROM THE WTO

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