Caribbean Trade Law and Development

Tag: trade

  • Caribbean Trade & Development News Digest – March 1-7, 2020

    Caribbean Trade & Development News Digest – March 1-7, 2020

    Happy Women’s Day! Welcome to the Caribbean Trade & Development News Digest for the week of March 1-7, 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 COVID-19 outbreak has intensified, with the number of reported cases now surpassing 100,000. With over 80,000 cases to date, China – where the virus first originated in December 2019 – remains the most affected country. South Korea, Iran and Italy have also seen a high number of cases. Coronavirus fears continue to negatively impact stock markets and global shipping.

    According to a recently published technical note by UNCTAD, COVID-19 has not only led to a slowdown in manufacturing in China, but “is disrupting world trade and could result in a $US50 billion decrease in exports across global value chains”. Read more

    The WTO’s General Council met this week. Among other things, Members agreed to launch a Working Party for the accession of Curacao as a separate customs territory.

    REGIONAL NEWS

    St. Lucia to launch new National Export Strategy

    NYCaribNews: The St. Lucia government will launch the island’s five- year National Export Stagey (NES) that it says provides a roadmap to the growth and development of the export sector. Read more

    Expect to feel the effect of coronavirus in the next two months

    The Guardian (TT): The lo­cal busi­ness com­mu­ni­ty is brac­ing for the im­pact of the coro­n­avirus, from the im­ple­men­ta­tion of con­ti­nu­ity plans to lo­cat­ing al­ter­nate sup­pli­ers to ad­just­ing busi­ness mod­els; lo­cal play­ers are work­ing ve­he­ment­ly to en­sure their sur­vival as in­ter­na­tion­al ex­perts warn “the worst is yet to come.” Read more

    CARICOM diplomats to Chair two WTO bodies

    CARICOM: Representatives from two CARICOM Member States have been identified to Chair World Trade Organisation (WTO) bodies. Read more

    Business urged to partner with Government on the SDGs

    Barbados Today: With Government preparing for a comprehensive review of its progress in achieving the United Nations 2030 Sustainable Development Goals (SDGs), Foreign Minister Senator Jerome Walcott has challenged businesses to do more to join the effort. Read more

    Cruise ships divert as Caribbean countries implement coronavirus travel bans

    Miami Herald: Two Carnival Cruise Line ships are redrawing Caribbean itineraries this week as several countries tighten travel restrictions to prevent the spread of the novel coronavirus, COVID-19. Read more

    Pakistan Eager To Trade With Jamaica – I Will Strongly Push For A Head-Of-State Visit – High Commissioner Khan

    Jamaica Gleaner: If Pakistan High Commissioner to Jamaica Dr Asad Khan has his way, Jamaica could shortly be on the list of countries for the next visit by President Arif Alvi or Prime Minister Imran Khan. Read more

    INTERNATIONAL NEWS

    How making trade faster and easier empowers women around the world

    World Economic Forum: International women’s day is an opportunity to reflect on solutions to achieving gender equality goals. One such route to women’s empowerment is by providing opportunities for women to trade and ensuring that the benefits of trade facilitation reform – making trade faster, easier and more cost-effective – reach women around the world. Read more

    Barnier warns of grave differences between EU and UK in trade talks

    The Guardian: EU negotiator sets out main obstacles to deal, including rights convention and fishing. Read more

    Coronavirus outbreak has cost global value chains $50 billion in exports

    UNCTAD: The slowdown of manufacturing in China due to the coronavirus (COVID-19) outbreak is disrupting world trade and could result in a $US50 billion decrease in exports across global value chains, according to estimates published by UNCTAD on 4 March. Read more

    Coronavirus COVID-19 wipes $50 billion off global exports in February alone, as IMF pledges support for vulnerable nations

    UN: In remarks made at a joint press conference with the head of the World Bank Group, the IMF Managing Director, Kristalina Georgieva, said that the UN-backed global funds would make up the shortfall, in effect, by offering to inject around $50 billion into low-income and emerging market nations, pending requests for support. Read more

    East African nations projected to earn $1.8 billion from AfCFTA

    CGTN Africa: Eastern African nations are anticipated to earn 184 billion shillings (about 1.8 billion U.S. dollars) in welfare gains from the successful implementation of the Africa Continental Free Trade Area (AfCFTA), says a United Nations report released on Thursday. Read more

    Commodity economies face their own reckoning due to covid-19

    Economist: Now, as the shock of the covid-19 pandemic works its way through the world’s new, tangled economic plumbing, commodity-dependent economies find themselves exposed. Read more

    Covid-19 Threatens Global Trade, Hits Shipping Industry Hard

    Hellenic Shipping News: Since the outbreak of Coronavirus (nCovid-19) in China, trade especially shipping which has been the most affected sector around the world as the international shipping industry is responsible for the carriage of around 90 per cent of the world’s trade. Read more

    Coronavirus: Fear returns to stock markets

    BBC: Global stock markets have fallen sharply as investors continue to worry about the broader economic effects of the coronavirus. Read more

    Coronavirus: Eight charts on how it has shaken economies

    BBC: The coronavirus outbreak, which originated in China, has infected tens of thousands of people. Its spread has left businesses around the world counting costs. Read more

    Von der Leyen sees ‘momentum’ for improving EU-US relations

    Euractiv: European Commission President Ursula von der Leyen said on Thursday (5 March) “there might be momentum” for improving the EU’s relationship with the US, but it remained unclear when she will present a trade offer to US President Donald Trump to avoid further tariffs. Read more

    Africa urged to mobilize FDIs to expand intra-African trade

    KBC: African states have been urged to be open to foreign direct investment from African countries as well as adopt regional concepts of local content to boost intra African trade in readiness for theroll out of the African continental free trade agreement in three months. Read more

    Brexit: Preparations cost government more than £4bn says watchdog

    BBC: Government departments spent more than £4bn on preparations for leaving the EU, says the public spending watchdog. Read more

    ‘Virus’ of US unilateralism threatens WTO

    Hindu Business Line: The US’ persistent efforts to deny special and differential treatment to developing countries has destabilised the institution. Read more

    The U.S.-India trade deal fell through. What happens now?

    Washington Post: The United States and India failed to produce a trade agreement, although there were repeated hints that the two sides were racing to complete the deal. Read more

    India blocks first request by EU at WTO for dispute panel on ICT import duties

    Hindu Business Line: India has blocked a first request from the European Union for the establishment of a dispute panel to rule on tariffs imposed by New Delhi on certain information and communication technology (ICT) goods including mobile phones, cameras, headphones and earphones at the World Trade Organisation (WTO). Read more

    UK statement to the WTO Trade Negotiations Committee

    Gov.uk: The UK’s Ambassador to the WTO and UN in Geneva, Julian Braithwaite, delivered a statement to the WTO Trade Negotiations Committee on 2 March 2020. Read more

    Brazil, Argentina representatives meet over trade concerns

    BN Americas: A delegation led by Argentina’s head of congress, Sergio Massa, visited Brazilian counterparts in a sign of slowly thawing relations between the countries. Read more

    Indonesia still deserves special treatment in global trade: Economists

    Jakarta Post: Indonesia still deserves special treatment in global trade despite the United States recently taking the archipelago off its list of developing countries, local economists have said. 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:

  • Can Novel Coronavirus ‘COVID-19’ impact the Caribbean?

    Can Novel Coronavirus ‘COVID-19’ impact the Caribbean?

    UPDATE: Several Caribbean countries have now reported cases of COVID-19.

    Alicia Nicholls

    Let me preface this brief article by stating that to date there has as yet been no confirmed case of COVID-19 – the official name given to the novel coronavirus – in any English-speaking Caribbean country. This, nonetheless, does not deny the region’s vulnerability to the shockwaves of the virus’ increasing global spread and concomitant potential impact on global trade, travel and the global economy, on a whole. Besides the possible human impact, Caribbean small open economies – reliant on tourism and trade for our ‘bread and butter’- could be severely impacted by the current outbreak.  

    Global impact to date

    The COVID-19 virus, which is suspected to have originated with bats, was first reported in Wuhan Province, China in December 2019. At the end of January 2020, the World Health Organisation (WHO) – the United Nations (UN) specialised agency in charge of public health matters – declared the outbreak of COVID-19 to be a ‘Public Health Emergency of International Concern’ and issued a set of Temporary Recommendations. According to the latest press briefing of February 28, 2020 by Director General of the WHO, “outside of China, there are now 4351 cases in 49 countries, and 67 deaths”. Further, the WHO has increased its assessment of the risk of spread and the risk of impact of COVID-19 to “very high at a global level”.

    Last week, coronavirus fears caused stock markets to suffer their worst crash since the financial crisis, while the International Energy Agency (IEA) has predicted that reduced Chinese demand for crude oil will lead to the first quarterly decline in global oil demand in over a decade. China – the worst affected country to date by the virus – is expected to see a slowing in its GDP growth to 5.6%, according to the International Monetary Fund (IMF).

    Potential Impact on the Caribbean

    While there has not yet been any confirmed case of COVID-19 in the Caribbean, the Caribbean Public Health Agency (CARPHA) has upgraded the risk of COVID-19 transmission from low to “moderate to high”.

    Of major concern to the majority tourism-dependent countries of the Caribbean is that cases of the disease have appeared in our major tourist markets – the United States, United Kingdom, and parts of Continental Europe which have direct flights to the region.  Naturally, the biggest concern is the possible loss of life, particularly for those persons with impaired immune systems, if the virus outbreak reaches the region. The virus’ estimated 1% fatality rate makes it deadlier than the flu, which is known to kill hundreds of thousands each year. Aside from the very real human impact, there is also the economic impact that could arise from loss of productivity, businesses’ loss of revenue and reduced output.

    It should be noted, however, that even if the virus outbreak does not directly reach the region, we could possibly still be impacted negatively. For example, even though the Caribbean is currently COVID-19 free, the spread of ‘fake news’ may deter persons from travelling to the region, robbing these countries of potential tourist arrivals and needed foreign exchange. This has implications for countries like Barbados, for example, which in January this year launched a year-long home-coming called “WeGathering” which encourages its diaspora to come back to the island.

    Another potential channel of impact for import-dependent Caribbean countries is from the interruption of global supply chains and impact on commodities prices. The outbreak is already having an impact on global shipping. One possible ‘benefit’ for oil-importing Caribbean countries is the slump in oil demand and reduction in oil prices, but this may negatively impact oil exporting countries like Trinidad & Tobago and now Guyana.

    This, of course, is not the first nor will it be the last public health threat the Caribbean has faced. Readers would recall SARS (another type of coronavirus) outbreak, as well as the mosquito-borne diseases of Chikungunya and Zika several years ago. However, Caribbean leaders have rightly taken the COVID-19 threat seriously. Regional governments have so far adopted different responses to the threat, with policy responses ranging from quarantining to banning of travelers originating from outbreak countries, and in some cases, denying entry to cruise ships with cases of persons exhibiting symptoms of respiratory illness. CARICOM Heads of Government have called an emergency meeting in Barbados on March 1, to discuss the latest developments.

    Both regionally and globally, cooperation among governments and with international agencies will be key to mitigating the virus’ spread and its economic impact.  In a joint statement by the WHO and UN World Tourism Organisation (UNWTO), the two agencies called for cooperation and argued that tourism’s response “needs to be measured and consistent, proportionate to the public health threat”.

    Similar sentiments were made by IMF Managing Director, Kristalina Georgieva to the G20 on the economic impact of COVID-19. The Managing Director noted while various scenarios could occur, under the IMF’s current baseline scenario “global growth for 2020 would be about 0.1 percentage points lower” than the 3.3 percent global growth the IMF forecast in January. She further advised that “global cooperation is essential to the containment of the COVID-19 and its economic impact, particularly if the outbreak turns out to be more persistent and widespread.”

    Caribbean officials will be forced to play the delicate balancing act between not overreacting and exacerbating the situation, but also seeking to do their utmost best to protect public safety within the limits of their public health infrastructure and capacity.  Timely communication with the public on, for example, their pandemic preparedness, will be necessary.

    We as citizens also have our part to play by observing hygiene best practices to prevent or mitigate the virus’ spread should it reach our region. Moreover, in light of the potential for “fake news”, it is incumbent that citizens be discerning about our information sources and rely only on official sources such as the WHO and associated regional bodies like CARPHA and PAHO.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

    DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.

  • Caribbean Trade and Development News Digest – January 12-18, 2020

    Caribbean Trade and Development News Digest – January 12-18, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of January 12-18, 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

    This was a busy week for trade news. The US-China phase one deal was signed. While it does not address all of the issues affecting US-China trade relations, it attempts a first crack at it. The full text of the Agreement may be accessed here.

    The US is one step closer to ratification of the revised USMCA. The US Senate’s approved revised US-Mexico-Canada Agreement (USMCA) by an overwhelming vote of 89 to 10, and the bill now goes to the President for signature.

    REGIONAL NEWS

    ACP EU CARICOM Workshop Set for Saint Lucia

    The Voice: Regional and international quality professionals from the Caribbean Community (CARICOM) and the European Union (EU) will gather in Saint Lucia next week as three days of discussions and training focussed on strengthening regional trade, get underway at the Coco Palm Resort, Rodney Bay, Castries. Read more

    Trade between Cuba and Russia grows in 2019

    On Cuba News: In 2019, commercial exchange between Cuba and Russia exceeded 500 million dollars, Cuban ambassador in Moscow Gerardo Peñalver Portal said to Sputnik. Read more

    TT moves to improve cross-border trade

    Newsday: A new port technology platform will help to improve this country’s trading across borders, said Trade Minister Paula Gopee-Scoon. Read more

    Paula pushes pan grant

    Newsday: Trade Minister Paula Gopee-Scoon told Newsday she was very pleased at Friday’s talks with Pan Trinbago president Beverly Ramsey-Moore and University of Trinidad and Tobago governor Prof Clem Imbert to promote her ministry’s new $5 million grant-facility to make steel pans. Read more

    TT Chamber CEO praises non-energy export growth

    Newsday: Chamber of Industry and Commerce CEO Gabriel Faria said the chamber is pleased with growth in non-energy exports. “This shows the benefit collaboration can bring,” he said. Read more

    UK and TT strengthen trade ties

    Newsday: British High Commissioner Tim Stew has urged local companies to engage with the UK companies which were brought in by the Department for International Trade (DIT) for the UK Defence and Security Trade Mission. Read more

    Rum-makers report rising sales

    Barbados Today: One of Barbados’ main rum producers is reporting a major turn around in its export business, which climbed over 80 per cent in the last three years. Read more

    Local Manufacturers Welcome Article 164 Implementation

    The Voice: Many St Lucians may be unaware of the January 1, 2020 implementation of Article 164 of the RTC. Read more

    Jamaica import bill rises by 6.5% in the first nine months of 2019

    Jamaica Observer: Jamaica’s imports for January to September 2019 were valued at US$4,816.5 million, an increase of 6.5 per cent when compared to US$4,520.4 million which was spent for the similar period in 2018 according to the International Merchandise Trade (IMT) Bulletin released recently by the Statistical Institute of Jamaica (STATIN). Read more

    Imports from the OECS, Haiti and Belize to attract zero percent tariff rate

    St Lucia News Online: A decision by CARICOM is set to benefit less developed countries (LDCs) of CARICOM including Saint Lucia. Read more

    Solving Jamaica’s Export Challenges

    Jamaica Gleaner: The export of Jamaican goods and services has long been recommended as the pillar on which the country can drive real and consistent growth while positively impacting many of Jamaica’s socio-economic challenges. Read more

    JMEA expresses concerns after release of import-export figures

    Jamaica Observer: Following the issuing of the Statistical Institute of Jamaica (STATIN) report on the state of the country’s imports and exports situation for the period January to September 2019, the Jamaica Manufacturers and Exporters Association (JMEA) has expressed its concerns at the figures. Read more

    Guatemala asks OAS to facilitate meeting with Government of Belize

    Breaking Belize News: Guаtеmаlаn mеdіа, Аgеnсіа Guаtеmаltеса dе Nоtісіаѕ rероrtеd thаt Guаtеmаlаn Рrеѕіdеnt, Аlејаndrо Gіаmmеttі hаѕ аѕkеd thе Оrgаnіzаtіоn оf Аmеrісаn Ѕtаtеѕ (ОАЅ) tо fасіlіtаtе а mееtіng wіth thе Gоvеrnmеnt оf Веlіzе.Ассоrdіng tо thе rероrt, thе mееtіng wіll bе tо рrоmоtе іntеrасtіоn аnd gооd rеlаtіоnѕ wіth Веlіzе іn оrdеr tо tаkе аdvаntаgе оf орроrtunіtіеѕ іn trаdе аnd tоurіѕm, аmоng оthеrѕ. Read more

    INTERNATIONAL NEWS

    Senate OKs North American Trade Deal To Replace NAFTA, Giving Trump A Much-Needed Win

    NPR: The Senate overwhelmingly approved a revised North American trade pact in a rare bipartisan vote Thursday that hands President Trump a victory on a key campaign promise just as lawmakers are preparing his impeachment trial. Read more

    U.S., EU, Japan agree new subsidy rules with China trade in focus

    Reuters: The United States, the European Union and Japan proposed new global trade rules on Tuesday to curb subsidies they say are distorting the worldwide economy, with China their clear target. Read more

    Mercosur braces for change amid calls for new trade rules

    Buenos Aires Times: Regional trade bloc faces uncertain future, with Argentina now in the minority and Uruguay and Brazil seeking the right to secure trade deals outside the bloc’s remit. Read more

    Mercosur summit in Paraguay will address a review of the external tariff

    Mercopress: The upcoming Summit of Heads of State of the Southern Common Market Mercosur, to be held in late June or early July this year, will be held in Encarnacion, capital of Itapúa Department, Paraguay. Read more

    With Brexit imminent, what are the chances of a UK trade deal with China?

    The Guardian: Last week, Donald Trump and Liu He, the Chinese vice-premier, signed phase one of a new trade arrangement between the US and China. The talks surrounding the agreement have been tortuous, leading to fears that the world could be caught up in a trade conflict between these two economic giants. Read more

    Trade Peace May Hurt Countries Left Out of U.S.-China Deal

    Bloomberg: President Donald Trump is set to sign his phase one trade accord with China on Wednesday and the public will finally get its first chance to look beneath the hood. A key question for other nations: How will China’s commitment to buy $200 billion worth of additional American goods and services impact their access to the world’s biggest economies? Read more

    Trade centers in regional countries to spur non-oil exports

    Tehran Times: To expand non-oil exports during the sanctions time, Iranian economic and trade organizations have been defining some strategies and resolved to pursue them vigorously. Read more

    Europe to assess whether US-China deal is WTO compatible

    Euractiv: The EU will assess whether a US-China deal to roll back some bilateral tariffs in exchange for increased US imports to China is compatible with World Trade Organisation rules, said Trade commissioner Phil Hogan on Thursday (16 January). Read more

    US-China trade rapprochement round one

    East Asia Forum: The conclusion of phase one of the trade negotiations between the United States and China has been welcomed by global markets because it has brushed off many uncertainties caused by the tense relationship between the world’s two largest economies over the past two years. Read more

    Brexit trade deals on the table at UK-Africa summit

    African Business Magazine: Organised by the UK’s Department for International Development (DFID), in partnership with Department of Trade (DIT), the Foreign and Commonwealth Office, (FCO) and the Department for Business, Energy and Industrial Strategy (BEIS), the one-day summit and side events are designed to seal UK-African business deals as the UK prepares to formally leave the European Union (EU) on 31 January. Read more

    UK channels aid budget as it seeks closer ties with Africa post-Brexit

    The Guardian: Britain has unveiled plans to channel part of the £14bn aid budget through the City as it seeks to exploit the global reach of the finance sector to boost investment in Africa. Read more

    BRICS: What’s in it for Africa?

    Africa.com: The BRICS group of emerging economies (made up of Brazil, Russia, India, China and South Africa) gather at the 5th annual BRICS summit in Durban, South Africa. It is the first time the summit is being held in Africa – and rightly so – as the theme for this year is BRICS and AFRICA: Partnership for Development, Integration and Industrialisation. State leaders of the five countries will be among at least 5,000 delegates at the two-day summit. Read more

    China’s trade with Africa grows 2.2 per cent in 2019 to US$208 billion

    South China Morning Post: Two-way trade grew by just 2.2 per cent in 2019 to US$208.7 billion, compared with a 20 per cent rise a year earlier, according to official figures from China’s General Administration of Customs. Read more

    Investment will overshadow trade in Japan-U.S. talks

    Japan Times: The Japan-U.S. Trade Agreement (JUSTA), the pinnacle for modern trade policy between the two allies, is now in force. Read more

    US tariffs on autos not mentioned in talks, EU trade chief says

    Deutsche Welle: In Washington to smooth out trade differences with the Trump administration, an EU commissioner said the subject of car tariffs did not come up. German carmakers will be happy to see the issue off the negotiating table. Read more

    UK treasury chief: Some businesses may hurt after Brexit

    The Associated Press: The British government has announced plans for special events on the night of Jan. 31 when the country officially leaves the European Union but the country’s treasury chief has admitted that some U.K. business sectors will suffer as a result. Read more

    U.K. Economy Won’t Stay Close to EU After Brexit, Javid Says

    Bloomberg: U.K. Chancellor of the Exchequer Sajid Javid signaled Britain is planning to shift its economy further away from the European Union’s, firing an early salvo in what’s set to be a fractious year in hammering out their future relationship. Read more

    Asean, RCEP trade partners unlikely beneficiaries from US-China trade war, Deloitte economist says

    South China Morning Post: An unexpected effect of the US-China trade war has been an apparent acceleration of the process to forge an Asian trading bloc that does not include United States, according to Deloitte China’s chief economist Xu Sitao. Read more

    India’s ‘door still open’ to RCEP free-trade deal: Foreign Minister Subrahmanyam Jaishankar

    South China Morning Post: More than two months after India pulled out of the Regional Comprehensive Economic Partnership (RCEP), Foreign Minister Subrahmanyam Jaishankar has suggested New Delhi could rethink its decision. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

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

  • Caribbean Trade & Development News Digest – January 1-11, 2020

    Caribbean Trade & Development News Digest – January 1-11, 2020

    Happy New Year! Welcome to our first Caribbean Trade & Development News Digest for the year 2020! We trust you all had an enjoyable holiday season! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world for the first two weeks of 2020!

    There will be much to watch in trade this year so we look forward to you following the developments with us from week to week.

    HIGHLIGHTS

    The beginning of the year saw US-Iran tensions hit a boiling point. These tensions have simmered somewhat, and oil prices, which rose but not as high as expected, have since lowered in light of the ease in tensions.

    Global growth is set to rise by 2.5% this year, a small increase from 2.4% in 2019, as trade and investment gradually recover. This is according to the World Bank’s semi-annual Global Economic Prospects released January 2020.

    Regionally, on January 1, 2020, Barbados’ Prime Minister the Hon. Mia Amor Mottley took over the chairmanship of the Caribbean Community (CARICOM) under that organisation’s rotating chairmanship system. Read more here.

    A three-day CARICOM workshop was held this to discuss World Trade Organization (WTO) issues. It was hosted by the SRC and WTI in Barbados and attended by ambassadors, technocrats and other high-level trade professionals.

    A significant oil discovery has been made offshore another CARICOM Member State. This time, it is Suriname. Read here. Also recall that Guyana is now an oil producing nation.

    REGIONAL NEWS

    Caricom raises external tariffs on pasta, cement

    Newsday TT: CARICOM’s Council for the Trade and Economic Development (COTED) has increased the common external tariff (CET) on pasta and cement for one year. It came into effect on January 1. Read more

    Food, drink labelling to change

    Barbados Today: Makers of packaged food and drink products may be required to have front-of-package nutrition labels by year end, Barbados TODAY has learned. But manufacturers are said to be concerned that having to revamp their labels could come at a major cost with business still slow in a tight economy. Read more

    Two faces of WTO emerge at meeting

    Barbados Today: Even as the world’s major economic powers abandon the global rules-based system in ongoing trade feuds, an international think tank’s advisor has urged officials here and in the region not to give up on the World Trade Organisation (WTO). Read more

    Walcott insists multilateral trade must benefit all

    Barbados Today: Multilateral trade must redound to the benefit of all, regardless of size. Minister of Foreign Affairs and Foreign Trade, Senator Dr Jerome Walcott, made this declaration at a three-day CARICOM workshop held to discuss World Trade Organization (WTO) issues at the Savannah Beach Hotel, recently. Read more

    Poultry investor halts $7-$8 million investment over WTO uncertainty

    Eyewitness News (Bahamas): A poultry investor said yesterday it has put ‘on hold’ its $7-$8 million investment until the government makes clear its position going forward on the World Trade Organization (WTO). Read more

    Guyana rice exports valued at more than US$200 million

    Jamaica Observer: The Guyana Rice Development Board (GRDB) said it recorded a 20 per cent increase in revenue after exporting more than half a million tonnes of paddy, rice and rice by-products last year. Read more

    CARICOM needs united voice on global issues

    Barbados Advocate: If it has not been done already, the Caribbean Community and Common Market (CARICOM) states have to devise a strategy for the global political and economic tensions and developments which continue to characterize the world in which we live. Read more

    CARICOM countries need to prepare for fallout of US and Iran situation

    St Lucia News Online: A sug­ges­tion that CARI­COM heads meet as soon as pos­si­ble, and come up with a strat­e­gy to deal with any pos­si­ble fall­out or dan­ger­ous sce­nar­ios, re­sult­ing from the re­cent dé­tente be­tween the Unit­ed States and Iran. Read more

    CARICOM heads chided for lack of sports investment

    Caribbean Life News: Caribbean heads of governments have been accused of not keeping pace with their sportsmen and women because the politicians are failing to provide facilities to support athletes consistent with their worldwide successes. Read more

    Will the EU care about the Caribbean after Brexit?

    The Voice: It’s not just Britain’s attitude towards its former colonies that may change with its geopolitical divorce. Lyndon Mukasa says the European Union’s position is also of growing interest. Read more

    UK expands its presence in Commonwealth countries

    Barbados Advocate: THE United Kingdom’s representation in the Commonwealth countries of the Eastern Caribbean has expanded over the last year. Read more

    Venezuela remains one of Guyana’s biggest rice buyers, despite no PetroCaribe deal

    Demerara Waves: Venezuela is Guyana’s biggest rice market, accounting for 34 percent or 177,682 tonnes of all that grain exported to several Latin American countries the Guyana Rice Development Board (GRDB) said in a statement. Read more

    INTERNATIONAL NEWS

    Oil rises as US-Iran conflict eases, focus turns to trade deal

    CNBC: Oil prices rose slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal which could boost economic growth and demand. Read more

    Brexit: MPs give final backing to Withdrawal Agreement Bill

    BBC: MPs have given their final backing to the bill that will implement the UK government’s Brexit deal. The Commons voted 330 to 231 in favour of the Withdrawal Agreement Bill and it will now pass to the House of Lords for further scrutiny next week. Read more

    Grassley pins blame for USMCA holdup on impeachment

    Politico: Senate Finance Chairman Chuck Grassley on Friday blamed House Speaker Nancy Pelosi for holding up passage of the new North American trade pact after she held off sending the articles of impeachment to the Senate. Read more

    IMO 2020: New Shipping Fuel Requirements Enter Into Force

    Hellenic shipping news: January 1, 2020 marked the implementation of the new sulphur oxide limit for shipping fuel imposed by the International Maritime Organisation under the MARPOL Convention, often referred to as IMO 2020. Read more

    US-China Trade War Seen as Boosting Vietnam Growth

    VoA: Vietnam has been a beneficiary of the China-U.S. trade war, enjoying a boost in services and exports that should drive economic growth to 7% this year, HSBC economist Yun Liu said last week. But she said the country remains vulnerable to economic risks including trade protection and inflation. Read more

    Brexit: EU ‘won’t be rushed’ on trade deal, says Simon Coveney

    BBC: The EU “will not be rushed” on a trade deal with the UK after Brexit, according to Ireland’s deputy PM. Boris Johnson says a deal can be agreed by the end of 2020 and has included a pledge in his Brexit bill not to extend any transition period to secure one. Read more

    Europe, Scotland and Brexit – what next?

    EU Observer: Last month’s UK general election will undoubtedly be remembered for the Conservative Party’s historic victory and the long-awaited clarity on Brexit. Yet the vote was not uniform across the UK. In Scotland, the Scottish National Party (SNP) secured an even more emphatic result, taking 47 of the nation’s 59 Westminster seats. Read more

    Here’s how the WTO can help address plastic pollution

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    STRAIGHT FROM THE WTO

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