Caribbean Trade Law and Development

Tag: trade

  • 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

    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 21-27, 2020

    Caribbean Trade and Development News Digest – June 21-27, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 21-27, 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 number of nominees for next World Trade Organization (WTO) Director-General continues to increase. This week, South Korea nominated its trade minister, Ms Yoo Myung-hee.

    The candidates have been making their case to the public on their vision for the WTO which is currently in crisis. For example, Nigerian candidate Ngozi Okonjo-Iweala penned an op-ed on reviving the WTO here. Egyptian candidate, Hamid Mamdouh, participated in a WITA Webinar to discuss his candidacy and vision for the WTO which you can watch here.

    Yesterday, June 27 was UN Micro, Small and Medium-sized Enterprise (MSME) Day. Read some of our previous posts on MSMEs and the COVID-19 crisis here:

    COVID-19’s Impact on Micro, Small and Medium-Sized Enterprises (Guest contribution by Deah James)

    COVID-19 and MSMEs: Impacts and Options

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

    REGIONAL NEWS

    CARICOM’s stake in the WTO Director-General Race

    Barbados Today: Incumbent World Trade Organization (WTO) Director-General (DG) Mr Roberto Azevedo’s recent announcement of his resignation a full year before concluding his second term of office took the world by surprise and presents another plot twist among the mounting challenges confronting the guardian of the multilateral trading system. Read more

    DR has opportunity to attract investment due to COVID-19

    Dominican Today: The Dominican Republic has the opportunity to attract foreign investment from multinationals that will seek to have their factories close to the United States due to the COVID-19 pandemic. This was stated by Ana Arias Urones, Senior Specialist of the Trade and Investment Division of the Inter-American Development Bank (IDB), who stressed that in the next six months the country will have the opportunity to take advantage of post-covid-19 recovery scenarios to position itself as a foreign investment destination. Read more

    C’bean among countries unfairly targeted by US senators over Cuba

    Jamaica Observer: Three US senators — who have done little to advance the interests of the Caribbean and with whom requests for meetings by many Caribbean ambassadors are usually shunted to their staff — are now proposing US Government punishment for Caribbean countries that request assistance from Cuba for medical personnel. Read more

    EU seeking to improve on its financing conditions

    Barbados Advocate: The European Union has a vision to provide grants and loans together in a financing package so that it can improve the financing
    conditions that it offers its partner countries. Ambassador Daniela Tramacere, Head of the EU Delegation to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM noted the
    above as she spoke recently during the launch of the Barbados Water
    Supply Infrastructure Rehabilitation Project by the Barbados Water
    Authority. Read more

    Operations Of 20 Entities To Be Digitised Under Single Window Initiative

    JIS: The operations of approximately 20 State entities that facilitate imports and exports are earmarked for digitisation under the Jamaica Single Window for Trade (JSWIFT) initiative, which is being implemented by the Jamaica Customs Agency (JCA). Jamaica. Read more

    US$12.5 billion limestone potential

    Jamaica Observer: As the country seeks to expand its investment opportunities, stronger calls are being made for investors and exporters to take advantage of the emerging benefits in the value-added limestone industry. Read more

    Shaw denies companies leaving Ja due to cannabis regulation lag

    Jamaica Observer: MINISTER of Industry, Commerce, Agriculture and Fisheries Audley Shaw has denied claims that cannabis companies are leaving Jamaica as a result of the country’s failure to implement import/export regulations. Read more

    Region Cannot Return To Pre-COVID-19 Era – Bartlett

    Jamaica Gleaner: Jamaica’s Tourism Minister, Edmund Bartlett, says for the first quarter of this year, international tourism has recorded 67 million fewer arrivals and a loss of US$80 billion in exports. Read more

    Tian Qi | Enhancing China-Caribbean Cooperation In Building Belt And Road

    Jamaica Gleaner: On June 18, the high-level videoconference on Belt and Road international cooperation was held in Beijing under the theme ‘Belt and Road International Cooperation: Combating COVID-19 with Solidarity’. Read more

    INTERNATIONAL NEWS

    Ottawa Group Recommends Actions on COVID-19, Signals Continued Interest in WTO Reform

    IISD: The Ottawa Group, comprised of 13 World Trade Organization (WTO) members, has released a statement outlining six action areas to focus on in light of COVID-19. Formed in the wake of the Ottawa Ministerial on WTO Reform, held 24-25 October 2018, the Group seeks to address specific challenges that are putting the multilateral trading system under stress. Read more

    Liam Fox and Peter Mandelson compete to be next world trade chief

    The Sunday Times: Ministers are considering whether to nominate Liam Fox, the former international trade secretary, as Britain’s candidate to become the next head of the World Trade Organisation (WTO). Read more

    Kenya-U.S. Trade Talks to Start Next Month, President Kenyatta Says

    AllAfrica: President Uhuru Kenyatta has said the much-anticipated trade talks between Kenya and the United States of America will start on 7th July 2020. Read more

    RCEP members to keep aiming for deal this year, with hopes India will rejoin

    The Japan Times: Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement agreed Tuesday to continue aiming for a deal by the end of the year, while keeping the door open for India to return to the talks. Read more

    U.S. Still Committed to Digital Tax Talks, OECD Tax Chief Says

    Bloomberg: The U.S. is still actively participating in OECD negotiations on global digital tax rules, the organization’s top tax official said Wednesday. Read more

    USTR Lighthizer and US trade policy: Right goals, wrong strategy

    VoxEU: Joshua Meltzer argues that the Trump administration has failed to provide a coherent vision for maintaining and expanding US competitiveness in the 21st century, including through its trade policy. Read more

    China ‘interested’ in Trans-Pacific trade deal but keen to gauge Japan’s ‘attitude’ ahead of potential talks, ex-minister says

    South China Morning Post: China is keen to first understand Japan’s “attitude” before beginning formal negotiations to join the Comprehensive Progressive Trans-Pacific Partnership Agreement, according to former commerce minister Chen Deming. Read more

    COVID-19, trade war take toll on trans-Pacific volumes through April

    JOC: Total container volume carried by the top 15 lines in the US trade with Asia fell 7.2 percent through the first four months of the year, but a recent spike in imports from Asia and a cut in blank sailings this summer should stem declines going forward. Read more

    Trump threat to ‘decouple’ U.S. and China hits trade, investment reality

    Reuters: Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into a challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into China continues, and markets are wary of separating the world’s biggest economies. Read more

    Despite Economic Turmoil, Indonesia-Australia Trade Agreement Pushes Ahead

    The Diplomat: In the midst of COVID-19, an unlikely trade agreement breaks through. Read more

    ECOWAS endorse Okonjo-Iweala as DG of the World Trade Organization

    Nairametrics: The West African Regional political and economic block, the Economic Community of West African States (ECOWAS), has announced the backing of the candidature of Nigeria’s former Finance Minister, Ngozi Okonjo Iweala, as the Director-General of World Trade Organization (WTO). Read more

    The WTO’s Fall from Grace: Disputes About Dispute Settlement

    McGill International Review: The future of the World Trade Organization (WTO) has come under recent scrutiny, with its Director General (DG), Roberto Azevêdo, announcing plans to resign one year early. Yet the demise of the WTO has been a long-standing issue, particularly linked to the lack of support shown for the organization by one of the world’s largest economies, the United States. Read more

    Support for Brexit is collapsing as poll finds big majority of British people want to be in the EU

    Business Insider: A newly released survey found just 35% of British people supporting Brexit, with 57% wanting to rejoin the European Union. Read more

    Brexit: Angela Merkel says Britain must ‘live with the consequences’ of Boris Johnson’s decision to ditch close alignment with EU

    The Independent: Angela Merkel has said that Britain will have to “live with the consequences” of Boris Johnson’s decision to ditch Theresa May’s plans for close alignment with the European Union after Brexit. 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 7-13, 2020

    Caribbean Trade and Development News Digest – June 7-13, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of June 7-13, 2020! And a Happy Father’s Day to all readers who are fathers, fathers-to-be or father figures! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    The World Trade Organization’s beleaguered Appellate Body (AB) delivered its final reports in the cases brought by Honduras and the Dominican Republic in “Australia — Certain Measures Concerning Trademarks, Geographical Indications and Other Plain Packaging Requirements Applicable to Tobacco Products and Packaging” (DS435 and DS441). Read the AB summary and report here.

    In the meantime, the race for the next WTO Director General is heating up as at least three WTO Members (Mexico, Egypt, Nigeria) have already nominated candidates to be a successor of incumbent Mr. Roberto Acevedo who announced last month that he would step down a year before his term expires.

    New UNCTAD data published on 11 June show that merchandise trade fell by 5% in the first quarter of the year and point to a 27% drop for the second quarter and a 20% annual decline for 2020. Access the report here.

    This week’s article by guest contributor Sandiford Edwards looks at building climate resilience in the Caribbean agricultural sector. Have a read here.

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

    REGIONAL NEWS

    CCJ Upholds COTED Decision on Cement Tariff Increase

    CCJ: In a judgment released Wednesday, the Caribbean Court of Justice (CCJ) upheld the decision of the Council for Trade and Economic Development (COTED) to raise the tariff on “other hydraulic cement” imported into Barbados. Read more

    Belize signs revised Georgetown agreement for Organization of African, Caribbean and Pacific States

    Breaking Belize News: Belize officially signed the revised Georgetown Agreement today June 9, 2020 in Brussels, Belgium. Read more

    “Major decline in imports, slight decline in exports,” says Statistical Institute of Belize

    Breaking Belize News: Веlіzе’ѕ ехреndіturе оn іmроrtѕ drорреd bу оvеr 30 реrсеnt whіlе rеvеnuеѕ frоm ехроrtѕ wеrе dоwn bу 2.7 реrсеnt fоr thе mоnth оf Арrіl, ассоrdіng tо thе Ѕtаtіѕtісаl Іnѕtіtutе оf Веlіzе (ЅІВ). Read more

    No hindrance to commercial exports — CLA

    Jamaica Observer: The Cannabis Licensing Authority (CLA) says licence holders are not hindered in their ability to export products from Jamaica due to the non-passage of import/export legislation. Read more

    MICAF Celebrates Increase in Exports

    JIS: A number of Jamaican companies are experiencing a rise in the exportation of their products amidst the COVID-19 pandemic. The Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) congratulates manufacturers and exporters who have seized the opportunities that have arisen. Read more

    We are ready for regional exports — JMEA president

    Jamaica Observer: The Jamaica Manufacturers and Exporters Association (JMEA) says based on the growing need for more exports across the Caribbean, the productive sector stands ready to supply outside markets and replace imports where necessary. Read more

    UK aid to boost Caribbean trade

    Jamaica Observer: A plan of action to support trade in several Caribbean states was launched last week. Read more

    Economic Diplomacy Programme launched

    Jamaica Observer: JAMAICA Promotions Corporation (Jampro) and the Ministry of Foreign Affairs and Foreign Trade (MFAFT) have officially launched a new Economic Diplomacy Programme (EDP) aimed at aggressively promoting Jamaica as the ideal country for investment and trade opportunities. Read more

    INTERNATIONAL NEWS

    NZ signs first digital trade agreement

    Stuff.co.nz: New Zealand has signed the first trade agreement to focus on issues solely relating to the digital economy. The Digital Economy Partnership Agreement (DEPA) with Chile and Singapore facilitates trade by encouraging paperless trading, e-invoicing and payments, and streamlined customs procedures for parcels. Read more

    Singapore, Chile, NZ ink deal to boost digital economy cooperation

    The Straits Times: Singapore, Chile and New Zealand have signed an agreement that will bolster cooperation on issues in the digital economy. Read more

    Trade Minister ‘very disappointed’ with EU’s first offer on free trade deal

    Radio New Zealand: The first formal offer on the table from the European Union on a free trade agreement is a far cry from what New Zealand wants, but talks will continue with both parties appearing willing to strike a deal. Read more

    China Trade Surplus Surges to Record as Medical Exports Jump

    Bloomberg: China’s trade surplus surged to a record in May as exports fell less than expected, helped by an increase in medical-related sales, and imports slumped along with commodity prices. Read more

    China exports protective materials to 200 countries, regions: white paper

    XinhuaNet: China exported protective materials to 200 countries and regions from March 1 to May 31 to help them fight against COVID-19, said a white paper released Sunday by China’s State Council Information Office. Read more

    UK says intensified timetable for free trade talks agreed with EU

    Reuters: Britain said it had agreed an intensified timetable for free trade negotiations with the European Union in July as both sides try to strike an agreement by the end of the year. Read more

    UK Statement to the WTO Council for Trade in Goods – Item 9

    Gov.uk: The UK’s Ambassador to the WTO and UN in Geneva, Julian Braithwaite, delivered this statement at a meeting of the WTO’s Council for Trade in Goods on 10 June 2020. Read more

    Factbox: Who’s bidding to be next World Trade Organization chief?

    Reuters: The World Trade Organization (WTO) began the process on Monday of selecting a new director-general to replace Brazil’s Roberto Azevedo, who is stepping down a year early at the end of August. Read more

    WTO accepts nomination of Okonjo-Iweala as DG despite opposition from Egypt

    Nairametrics: WTO has acknowledged the nomination of Ngozi Okonjo Iweala, as one of the candidates for the position of the DG of the organization. Read more

    Hogan’s Run: Could Ireland’s Commissioner get the top WTO job?

    RTE: If Phil Hogan does confirm his candidacy to be head of the World Trade Organisation it will have ramifications for an incoming Irish government, which will have to send a new commissioner to Brussels, and for the new European Commission, which only formally took office on 1 December. Read more

    Brexit: Checks on EU imports to be phased-in amid coronavirus crisis

    BBC: Checks on EU goods coming into the UK will be phased in next year to give firms “time to adjust”, as ministers formally ruled out extending the Brexit transition period beyond 31 December. Read more

    Majority of Britons back Brexit extension to help beat coronavirus

    Independent: A no-deal Brexit later this year during winter and amid coronavirus would be ‘a vicious, and avoidable, combination of risks’ says Health Foundation. Read more

    Wamkele Mene: Africa is fully committed to AfCFTA despite delay to start date

    African Business Magazine: The start of trading for the Africa Continental Free Trade Area (AfCFTA) originally due to commence on 1 July 2020 has been delayed due to the Covid-19 pandemic, but in this exclusive interview with Omar Ben Yedder and Stephen Williams, its newly elected secretary-general, Wamkele Mene, stresses that the continent is still fully committed to the AfCFTA, a critical component of Africa’s recovery strategy. Read more

    How will COVID-19 impact Africa’s trade and market opportunities?

    World Bank: The COVID-19 pandemic is expected to hit African economies extremely hard. According to the World Bank biannual Africa’s Pulse report, as a result of the pandemic, economic growth in sub-Saharan Africa will decline from 2.4% in 2019 to between -2.1% and -5.1% in 2020, depending on the success of measures taken to mitigate the pandemic’s effects. This means that the region will experience its first recession in 25 years. Read more

    Africa free trade zone could launch on Jan 1, says official

    Reuters: The African Continental Free Trade Area (AfCFTA) could begin operating on January 1 next year, after the COVID-19 pandemic made its original launch date untenable, the official charged with overseeing the bloc’s establishment said on Thursday. Read more

    Thailand to consider membership of trans-Pacific trade partnership

    Reuters: Thailand has set up a committee to consider by mid-July whether the country should join a trans-Pacific free-trade agreement, as opposition parties and some business groups say membership could harm the farm and healthcare sectors. Read more

    India not ready to take up RCEP’s ‘flexible’ offer

    Hindu Business Line: India is not ready to respond any time soon to the offer made by the 15-member Regional Comprehensive Economic Partnership (RCEP) to rejoin the free trade negotiations on much easier terms than before, especially as its industry and farmers are struggling to cope with the Covid-19 crisis, according to officials. Read more

    UK to start post-Brexit trade talks with Japan

    BBC: The UK and Japan are set to begin talks on Tuesday aimed at reaching agreement on a post-Brexit trade deal. Read more

    UK seeks swift Japan trade deal and TPP membership

    Nikkei Asian Review: The U.K. is looking to accelerate trade deals with countries and blocs across Asia, as the country’s transition period for departure from the European Union is set to expire at the end of the year. Read more

    Vietnam ratifies free trade deal with EU

    Euractiv: Vietnam ratified a free trade agreement with the European Union on Monday (8 June) that will cut or eliminate 99% of tariffs on goods traded between the Southeast Asian country and the bloc, and provide Vietnam with a much-needed post pandemic boost. Read more

    Commonwealth leaders reject automatic second term for Baroness Scotland

    BBC: Commonwealth governments have rejected a fresh attempt to give the organisation’s secretary-general Baroness Scotland an automatic second term of office. 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 – May 10 – 16, 2020

    Caribbean Trade and Development News Digest – May 10 – 16, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of May10-16, 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 big news reverberating across the trade world this week was that WTO’s DG Roberto Azevedo has this week announced he will step down on August 31, 2020, a year earlier than when his second term is due to expire in 2021. Read here.

    This week’s article by guest contributor Renaldo Weekes entitled “COVID-19: The Push to Conflict” looks at the geopolitical dynamics around the COVID-19 pandemic. Have a read here.

    REGIONAL NEWS

    CARICOM dealing with COVID Repercussions

    CARICOM: Since March 11, when the World Health Organization (WHO) declared COVID-19 a global pandemic, Member States of the Caribbean Community (CARICOM) moved from preparation to response in association with the Caribbean Regional Public Health Agency (CRPHA) supported by the WHO and its regional office, the Pan-American Health Organization (PAHO), headquartered in Washington DC. Read more

    Caricom states hope to start intra-regional travel by June

    Nation News: Member states of the Caribbean Community (CARICOM) plan on reopening borders to intra-regional travel in the first instance, hopefully by next month. Read more

    Private Sector Investment key in Economic Recovery

    Barbados Advocate: The next ten years will be critical for the Caribbean, not just because of the period that we are currently engaged in on account of the COVID-19 pandemic, but because it will define what the Caribbean will look like, in terms of investment going forward. Read more

    Cut passenger taxes on air travel to compete, IATA tells Caribbean governments

    Dominican Today: Describing travel as being in a “free fall” and the airline industry as being “bare bones” due to the impact of coronavirus (COVID-19), the trade association for the world’s airlines is advising Caribbean governments to cut passenger taxes if they wish to be competitive when service is restored. Read more

    ECLAC: Urgent action needed to reach UN 2030 goals

    Nation News: The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, wants urgent attention paid to Caribbean countries in order for them to achieve the United Nations’ 2030 Agenda the Sustainable Development Goals (SDGs). Read more

    INTERNATIONAL NEWS

    Hawley presses for vote to withdraw U.S. from the WTO

    Politico: President Donald Trump has periodically threatened to withdraw from the WTO but has never acted on the impulse. Read more

    Coronavirus will reverse globalization and create regional supply chains, economists predict

    CNBC: The coronavirus crisis will fundamentally reshape global trade as companies look to reduce their dependence on Chinese manufacturing, economists have predicted. Read more

    Tracking Trade During the COVID-19 Pandemic

    IMF: With the current fast-changing developments, policy makers need to know what is happening to the economy in real time, but they often must settle for data telling them what happened many weeks ago. And international trade, which links countries through a complex web of supply chains, is an area where timely information is especially valuable from a global perspective. Read more

    Covid-19’s blow to world trade is a heavy one

    The Economist: Covid-19’s blow to world trade is a heavy one and pre-existing conditions seem to worsen the prognosis. Read more

    U.K. Cabinet Backs Tough Brexit Line in Talks on EU Trade

    BNN Bloomberg: The U.K. doubled down on its Brexit red lines, refusing to compromise in talks over its future trade partnership with the European Union. Read more

    Australia-China trade tensions raise fears over future of agricultural exports

    The Guardian: National Farmers’ Federation says dispute needs to be resolved as Australian ministers refuse to budge on demand for Covid-19 origins inquiry. Read more

    Global trade to fall by record 27% due to Covid-19, says UN

    The Guardian: Data reveals pandemic has caused severe decline in supply and demand for products. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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