Caribbean Trade Law and Development

Tag: trade

  • CARICOM and Cuba reiterate solidarity and cooperation at Sixth Ministerial Meeting

    CARICOM and Cuba reiterate solidarity and cooperation at Sixth Ministerial Meeting

    Alicia Nicholls

    Foreign Ministers from Caribbean Community (CARICOM) Member States and the Republic of Cuba held their Sixth CARICOM-Cuba Ministerial on June 14, 2019 in Guyana. Agenda items for the one-day meeting included: climate change, the 2030 Agenda for Sustainable Development, the impact of natural disasters on development, security and hemispheric developments.

    CARICOM countries and Cuba share a long friendship reinforced by cooperation in a myriad of areas, including trade, sport, agriculture, culture, education and health. For example, many Caribbean students have benefited from scholarships offered by the Cuban government to study at Cuban universities. Cuba and CARICOM also have a Trade and Economic Cooperation Agreement (TECA) signed in July 2000.

    In his remarks at the Opening Ceremony of the meeting, CARICOM Secretary General Ambassador Irwin Larocque reiterated that CARICOM and Cuba “have forged a deep and meaningful relationship based on solidarity and cooperation”. He further praised “Cuba’s contribution to the Community’s human resource development, its health sector, agriculture and in the area of sports and culture has been of major significance to our Member States”. Specifically on the area of trade, Ambassador Larocque highlighted the Second Protocol to the TECA with Cuba signed in November 2017 which expanded preferential access to both Parties.

    The current US Administration has sought to tighten sanctions on Cuba, a sharp reversal of the rapprochement which had occurred under the administration of former US President Barack Obama, in order to pressure regime change in Cuba and to stop its support for Venezuelan President Nicolas Maduro. Recent US aggression includes, for example, the enforcement of Title III of the Helms-Burton Act and banning cruise ships to Cuba.

    Ambassador Larocque noted that “the Community reiterates its call for an immediate and unconditional end to the economic, commercial and financial embargo imposed by the Government of the United States of America against Cuba”. He further stated that “CARICOM also rejects, especially the unilateral and extraterritorial nature of these actions”.

    In his address (text in Spanish), Cuba Foreign Minister Bruno Rodriguez Parilla expressed gratitude on behalf of the Cuban government, noting that “we feel that we have a permanent debt of gratitude to CARICOM for its historic and brotherly support for Cuba”. He further observed that Cuba and CARICOM “share a common history and similar challenges” and reiterated Cuba’s commitment to share its “modest successes with the Caribbean”. He also revealed that only a few weeks ago, Cuba unveiled a monument in memory of Caribbean National Heroes in a park in the Havana city centre as a symbol of friendship and Cuban recognition of the men and women who turned this group of countries into a “worthy community and independent foreign policy”.

    At the end of their meeting, the Ministers released a declaration. The main parts which speak specifically to trade are at paragraphs 7-9:

    In this regard, we reaffirm our commitment to continue promoting the implementation of projects to improve air and sea ports, infrastructure and connectivity between our countries and broaden our economic and trade relations through the implementation of the Revised Trade and Economic Cooperation Agreement between CARICOM and Cuba;

    Commit to complete the required internal legal procedures with a view to giving effect to the Second Protocol to the Agreement on Trade and Economic Cooperation, which will contribute to the strengthening of trade relations;

    Reiterate the importance of trade for the Region’s sustainable development and reaffirm the necessity of appropriate policy space and special and differential treatment for small vulnerable economies like those in the Caribbean. In that context, we welcome the hosting by Barbados of UNCTAD XV in October 2020, which will be the first time that an UNCTAD quadrennial conference has been held in a Caribbean country;

    The full Declaration may be read here.

    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 & Development News Digest – May 19-25, 2019

    Caribbean Trade & Development News Digest – May 19-25, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of May 19-25, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S TRADE HIGHLIGHTS

    On the Brexit front, the biggest, but not entirely shocking news for the week was the announcement by UK Prime Minister Theresa May that she will be stepping down from office on June 7, 2019. Her full resignation speech may be viewed here.

    The OECD in its latest Economic Outlook noted the impact of the global trade tensions on the global economy. Access the press release and the report here.

    Looking regionally, Trinidad & Tobago this week underwent its 4th WTO Trade Policy Review. Read more here.

    REGIONAL TRADE NEWS

    Barbados approves importation of medical cannabis

    Caribbean News Now: The ministry of health and wellness has approved five medicinal marijuana drugs submitted by the drug formulary committee to be placed on the National Drug Formulary. The drugs will be imported by the Barbados Drug Service. Read more

    Grenada real estate resale changes spur CBI market freehold, leasehold, trust certificates qualify for resale

    Caribbean News Now: The government of Grenada’s re-alignment of the minimum investment requirement for the real estate option (for certain developments) of the country’s citizenship by investment (CBI) program from US$350,000 to US$220,000 has spurred the market, say experts. Read more

    Caribbean leaders will lead on climate resilience – PM Mitchell in CNN opinion

    CARICOM Today: Grenada and other Small Island Developing States are on the front line in the war against climate change. Although hurricanes are no stranger to the Caribbean, the overwhelming scientific evidence of how extreme weather conditions are worsening due to global warming shows that we need to take the signals that our Earth is sending us seriously. Read more

    BELTRAIDE hosts 1st SHEMentors Networking Event

    Breaking Belize News: The Belize Trade and Investment Development Service (BELTRAIDE) through support from the Regional Center of Promotion for MSME (CENPROMYPE) is hosting a women’s mentorship networking event today in Belize city. Read more

    Minister of Trade speaks on expansion of Freezone

    LoveFM: The Corozal Freezone has not really been the “talk of the town,” and, in fact, is in dire need of some TLC. The Freezone has not been forgotten, however, as there are big plans in the making to not only expand but also to revamp it. Minister of Trade, Tracy Taegar-Panton, met with the Freezone’s board of director last Friday, and today, she told us more about what was discussed. Read more

    EU Statement at the 4th Trade Policy Review of Trinidad and Tobago, 22 May 2019

    EU: On behalf of the European Union I would like to welcome Trinidad and Tobago’s Delegation, led by H.E. Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry and the Discussant, H.E. Mr. Michael Gaffey (Ireland), for his introductory words. Read more

    Trade and Industry advocates for small economies at the WTO

    MTI: Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon expressed a need for the World Trade Organisation (WTO) to adopt a pragmatic approach that takes due cognizance of the unique issues of Small and Vulnerable Economies (SVEs). Read more

    Stop The Wto ‘Scare Tactics’

    Tribune242: Carey Leonard, the former Grand Bahama Port Authority (GBPA) in-house counsel, told Tribune Business there was plentiful evidence from elsewhere in the Caribbean to prove that small businesses and ‘Mom and Pop’ stores “will not be wiped out” upon this country becoming a World Trade Organisation (WTO). Read more

    Exporting Caribbean fashion

    Newsday: Young fashion designers from TT, Grenada, Jamaica, Antigua and Barbuda, Barbados, St Lucia and Tortola – to name a few – have been brought together for the Fashion and Contemporary Design Accelerator, which participants said left them feeling empowered and ready to contribute to building a stronger regional fashion industry. Read more

    UNCTAD holds training in Belize

    LoveFM: The United Nations Conference on Trade and Development, UNCTAD, is in the country holding a one-week workshop to assist with the implementation of the Trade Facilitation Agreement. The Trade Facilitation Agreement will provide for a smoother and more efficient movement of goods. Read more

    Jamaica representing the Caribbean in global food fraud fight

    Loop Jamaica: Jamaica is the only Caribbean country to be included in an International Atomic Energy Agency (IAEA) five-year research project that is geared at assisting countries in combatting fraud in high-value food products, such as premium honey, coffee and speciality rice varieties. Read more

    Over 42,000 Caribbean nationals overstayed their non-immigrant US visas

    Caribbean News Now: Acting Homeland Secretary, Kevin Mc Aleenan revealed that over 42,000 Caribbean nationals from across the region overstayed their non-immigrant visas and stayed in the US between October 2017 and September 2018. This figure is contained in the US Department of Homeland Security’s (DSH) fiscal year 2018 entry/exit overstay report. Read more

    US Senators submit act to facilitate agricultural exports to Cuba

    Caribbean News Now: US Senators John Boozman and Michael Bennet submitted a draft bill to remove restrictions to private financing for US agricultural exports to Cuba. Read more

    Building Bonds

    Barbados Advocate: The Association of Barbados-China Friendship (ABCF) has been launched in an effort to create and strengthen the bond between Chinese and Barbadians. During the launch, which took place at the Hilton Resort Barbados on Thursday night, President of the ABCF Dr. Delisle Worrell noted that it is a “people-centred organisation with an emphasis on facilitating personal contacts between Barbadians and Chinese”. Read more

    Region lags global shipping trends

    Barbados Today: Barbados and the Caribbean appear to be lagging behind most of the world in using the global postal system’s Express Mail Service (EMS) to boost exports through e-commerce and small package deliveries, experts said here today. Read more

    INTERNATIONAL NEWS

    Rare Earths, the U.S.-China Trade War and Your Phone

    Washington Post: U.S. President Donald Trump’s threat to cut off the supply of chips and processors to Huawei Technologies Co. is hitting China’s biggest tech company where it hurts – its dependence on other nations for the semiconductors and software in smartphones and networking gear. So when Chinese President Xi Jinping showed up days later at a rare earths processing plant, many observers saw a message in the visit: the U.S. has its own tech vulnerabilities, too. Read more

    EU-ACP Pleased With Negotiations For Successor To Cotonou Agreement

    Jamaica Gleaner: The European Union says a new accord to replace the Cotonou Agreement that currently governs its relationship with the African, Caribbean and Pacific (ACP) Group is “taking shape”. Read more

    79-Nation Group’s Head Explains Vital Tasks Ahead Until ACP-EU Accord Expires

    IndepthNews: As talks progress on future relations between 79 African, Caribbean and Pacific (ACP) Group of States and the European Union in the aftermath of historic Cotonou Agreement due to expire in February 2020, Secretary-General Dr. Patrick Ignatius Gomes has spelt out vital tasks ahead. Read more

    Nigeria to Join Africa Free Trade Zone, Trade Minister Says

    Bloomberg: Nigeria will sign the Africa Continental Free Trade Agreement as soon as President Muhammadu Buhari approves an impact-assessment report he asked for, the country’s trade minister said. Read more

    The Impact of US-China Trade Tensions

    IMF Blog: US-China trade tensions have negatively affected consumers as well as many producers in both countries. The tariffs have reduced trade between the US and China, but the bilateral trade deficit remains broadly unchanged. Read more

    National Consultative Forum On the African Continental Free Trade Area – Experts to Discuss Corruption and the Challenge of Economic Transformation in Southern Africa

    All Africa: The Economic Commission for Africa Office for Southern Africa (ECA-SA) in partnership with the Ministry of Commerce, Trade and Industry, African Union Commission (AUC), are co-organising a National Consultative Forum; “National Consultative Forum on the African continental free trade area: Opportunities and Challenges for Zambia” from 23rd – 24th May 2019, at Mulungushi Conference in Lusaka, Zambia. Read more

    EU WARNED: Brussels told to be READY for no deal Brexit – ‘Britain will do just fine!’

    Express: THE European Union has been warned if it does not renegotiate the Brexit deal then Britain will instead “thrive and prosper” under a no deal scenario, political commentator Nile Gardiner has warned. Read more

    The world’s biggest shipping company warns Trump’s China tariffs are hammering global trade

    Business Insider: AP Moller-Maersk warned the recent escalation of the trade war could push growth in global container trade to the lower end of its forecast of 1% to 3% for 2019. Read more

    What next for Brexit Britain as May announces resignation as PM?

    Al Jazeera: The country’s future and whether or not it will leave the EU are thrown into further uncertainty after May resigns. Read more

    One-third of EU firms hit hard by US-China trade war

    Deutsche Welle: The ongoing trade tensions between the world’s two largest economies and tit-for-tat tariffs have adversely affected the fortunes of many European companies in China, a new survey reveals. The outlook remains gloomy. Read more

    EU trade tsar on US: ‘We hope we don’t impose tariffs on each other’

    Euronews: As EU-US trade ties remain shaky under the constant threat of tit-for-tat tariffs and rumblings of a trade war, Euronews sat down with EU trade tsar Cecilia Malmstrom to talk about the state of play. Read more

    EU, China, Thailand seek to join WTO consultation over India’s ICT products tariff
    Business Today: According to a communication of EU, China, and Thailand to the World Trade Organisation (WTO), these countries claimed that they have a substantial interest in the trade of information and communication technology (ICT) goods and in joining the consultation process. Read more

    US-China trade war hurts workers with lower salaries the most, WTO director says

    CNBC: An intensifying trade war between the U.S. and China is negatively impacting every country in the world, according to the director-general of the World Trade Organization (WTO), with workers earning lower salaries most likely to be hit the hardest. Read more

    Dispute over WTO reforms could paralyse it, says Canada
    Business Live: Absence of US and China at the latest round of talks to renew the world trade body dashes hopes of urgent action. Read more

    India on US watch list for currency practices

    Economic Times: The US has added India to its monitoring list for currency practices and macroeconomic policies, alleging undervaluation in its currency. Read more

    China’s coming slowdown opens doors to expanding African trade with India

    The Africa Report: Charles Robertson, chief economist at Renaissance Capital, argues that slower Chinese growth will not necessarily be detrimental for Africa, as Indian trade and investment is likely to increase. Indian demand for raw materials is likely to benefit the Democratic Republic of Congo (DRC), Guinea and Zambia, he says. Read more

    India reports trade deficit with 11 RCEP members in FY 2018-19

    Business Standard: The trade gap with Brunei, Japan, and Malaysia has increased to $0.5 billion, $7.1 billion and $3.8 billion, respectively in the last fiscal. It was $0.4 billion, $6.2 billion and $3.3 billion in 2017. Read more

    Malaysia to strengthen trade, investment ties with Brazil

    Malay Mail: Malaysia and Brazil will continue to focus on expanding bilateral trade and investment ties.This is alongside the possibility of having a free trade agreement between Malaysia and Mercosur, an economic and political bloc comprising Argentina, Brazil, Paraguay and Uruguay. Read more

    Canada, U.S. reach deal to continue pork trade if swine fever is detected

    Global News: In the event of an outbreak of African swine fever in Canada or the U.S., pork products from disease-free areas will still be allowed to flow across the border.An agreement reached between the two countries is intended to limit the economic impact of a possible outbreak of ASF, an illness that has led to the deaths of a million pigs in China but has not been detected in Canada or the U.S. Read more

    Mexico’s Lopez Obrador says confident USMCA will be ratified

    Reuters: Mexico’s President Andres Manuel Lopez Obrador said on Thursday he was confident the United States-Mexico-Canada-Agreement would be ratified, increasing trade in the North American region. Read more

    Turkey halves tariffs on 22 US imports to reciprocate Washington move

    Daily Sabah: Turkey has decided to reduce additional duties on some U.S. imports in response to a similar United States move to halve tariffs on Turkish steel imports, the trade minister said on Wednesday. Read more

    Chinese AI firms hunker down as reports indicate they are next on US export hit list

    The Edge Markets: iFlytek executive Hu Yu may have spoken too soon, when he made a positive comparison of his company to Huawei Technologies during a new product launch in Shanghai earlier this week. Read more

    WTO NEWS

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  • Trinidad & Tobago receives largely positive feedback during latest WTO Trade Policy Review

    Trinidad & Tobago receives largely positive feedback during latest WTO Trade Policy Review

    Alicia Nicholls

    On May 22 and 24, 2019, the Republic of Trinidad & Tobago underwent the fourth review of its trade policies and practices under the World Trade Organization (WTO) Trade Policy Review Mechanism. Trade Policy Reviews are the process by which the trade practices and policies of each WTO member are collectively evaluated by the WTO Membership (acting as the Trade Policy Review Body) at periodic intervals. Trinidad & Tobago is reviewed every six years and previously underwent reviews in 2012, 2005 and 1998.

    In April this year, the Trade Policy Review Mechanism celebrated 30 years of existence. It is an important aspect of the WTO’s monitoring function and aims to periodically evaluate the impact of each Member’s trade policies and practices on the multilateral system, thereby ensuring accountability, predictability and transparency of the rules-based multilateral trading system.

    An independent report prepared by the WTO Secretariat and a report by the WTO member being reviewed form the basis of the review. Trade Policy Reviews are a detailed and lengthy process which begin many months in advance of the actual meetings in Geneva. In January 2019, a WTO Review team visited Trinidad & Tobago and consulted with various government and private sector stakeholders. This week a delegation from Trinidad & Tobago which was led by H.E. Senator Paula Gopee-Scoon, Minister of Trade and Industry of Trinidad & Tobago and comprised five technical members, was in Geneva, Switzerland for the period May 20-24 to attend the review meetings at the WTO.

    Trinidad & Tobago received largely positive feedback for the current review period (2012-2019). According to the concluding remarks by the Chairperson, more than 200 questions were submitted by 15 Members. The questions and answers are usually available six weeks after the review process is completed. The Chairperson’s concluding remarks noted that Trinidad & Tobago provided answers to all the written questions submitted in advance of the meeting.

    The Chairperson’s concluding remarks listed the areas in which WTO Members appeared to be pleased with Trinidad & Tobago’s performance, including the return to economic growth after a period of recession, the steps taken to improve its government procurement regime through the passage of the Public Procurement and Disposal of Public Property Act, the modernization of its customs infrastructure and the introduction of a single electronic window in 2012 and the introduction of a new online payment system for import tariffs and other taxes and fees in 2019. They also praised the twin island Republic’s active participation in the WTO, its acceptance of the Protocol Amending the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in 2013 and its ratification of the Trade Facilitation Agreement in 2015.

    Trinidad & Tobago was encouraged by some Members to join the Information Technology Agreement (ITA) and to become an observer to the Agreement on Government Procurement. Other areas suggested for improvement include facilitation of access to visas and foreign exchange, improving the regime for Sanitary and Phyto-sanitary Standards (SPS) and providing further information on enforcement actions for intellectual property rights. Some Members also encouraged Trinidad & Tobago to notify its announcement of an import ban on plastics from 2019 to the Committee on Technical Barriers to Trade to allow comments from Members.

    Members, however, raised some areas of particular concern. On the issue of tariffs, they noted, for example, that the applied Most Favoured Nation (MFN) rate exceeded the country’s bound rate on 59 tariff lines in 2018, up from 50 in 2011 during its last review. Another area of concern for Members was while the import surcharges imposed in 1990 were supposed to be temporary, the Government had continued to apply new import surcharges. Members also noted that Trinidad & Tobago’s notifications were either not up to date or outstanding in some areas, but were pleased to learn that the country made a formal request for technical assistance on notifications.

    While Trade Policy Reviews are an often intensive exercise for the Member being reviewed, they are an important opportunity for WTO Members to query other Members’ trade policies and practices, as well as for Members themselves to receive objective periodic feedback on their adherence to rules, disciplines and commitments under the WTO’s agreements, as well as on their general trade and investment framework. This feedback could be useful to Governments seeking to make business and investment facilitation reforms to improve their competitiveness and investment attraction.

    The Secretariat’s detailed report contains extensive information on the overall business environment of the Member reviewed for the review period, including its macroeconomic environment, its legal and regulatory framework for trade and investment and trade policies and practices by measure and by sector. As such, trade policy review documents are often rich initial sources of information for businesses and investors interested in doing business or investing in a particular economy.  

    Once Trinidad & Tobago submits its replies within a month’s time to any follow up questions raised during the meeting, the Trade Policy Review will have been successfully concluded.

    The documents from Trinidad & Tobago’s latest review may be accessed here. Also visit the website of the Ministry of Trade and Industry for press releases related to the review here.

    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 & Development News Digest – May 5-11, 2019

    Caribbean Trade & Development News Digest – May 5-11, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of May 5-11, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This week, US-China trade talks came to an end without any agreement. The Trump Administration increased the level of tariffs from 10 percent to 25 percent on approximately $200 billion worth of Chinese imports. Read the statement by USTR Robert Lighthizer here.

    REGIONAL NEWS

    Cuba to increase rationing amid shortages

    BBC: Cuba has announced rationing of more products amid shortages it blames on the US trade embargo and hoarders. Read more 

    Fake skills certificates detected in the region

    The New Today: Grenada is among six CARICOM countries that have been on the receiving end of fake skills certificates from CARICOM nationals especially Jamaicans who are seeking employment. Read more 

    Seprod Drops Case For Evaporated Milk, But Ready For Condensed Market

    Jamaica Gleaner: Jamaica need only prove that it can supply three-quarters of the market for condensed and evaporated to gain protection for manufacturers, but a top dairy producer, Seprod Limited, says it already has the capacity to serve 100 per cent of the Caribbean market for one of those commodities. Read more 

    Better cocoa – T&T Ministry of Trade & Industry wants improved quality of beans

    The Guardian (T&T): Min­is­ter of Trade and In­dus­try, Paula Gopee-Scoon, has pre­sent­ed two new co­coa stan­dards to The Uni­ver­si­ty of the West In­dies (UWI) which were de­vel­oped by the Trinidad and To­ba­go Bu­reau of Stan­dards (TTBS), in­tend­ed to im­prove the qual­i­ty of lo­cal­ly pro­duced co­coa beans. Read more

    Exports ‘tun up’ but not enough – Seaga

    Jamaica Gleaner: Jamaica’s impressive export performance for 2018 when the country recorded a whopping 37.8 per cent increase over the previous year, the highest growth in 10 years, was dampened by the failure to stem in any substantial way the country’s heavy dependence on imported goods, according to Metry Seaga, president of the Jamaica Manufacturers and Exporteers’ Association (JMEA). Read more

    Former Barbados Central Bank Governor proposes regional switch to US currency

    Barbados Today: According to former Governor of the Central Bank of Barbados Dr DeLisle Worrell switching to the US currency would essentially eliminate the threat of domestic currency depreciation and with it, the resulting possible disruptions to economic stability. The economist said there was no time like the present to switch to US currency and he noted that the process is not as difficult as some people may imagine. Read more

    Dominica to get technical assistance from World Bank for international airport says Skerrit

    Dominica News Online: Prime Minister Roosevelt Skerrit has said that the government hopes to access technical assistance from the World Bank in its plans to construct an international airport in Dominica. Read more 

    INTERNATIONAL NEWS

    WTO meet next week: Appellate body, reforms in focus

    Economic Times: A WTO mini-ministerial meeting of 16 developing and six least-developed countries in Delhi next week will take up impasse over the appointment of appellate body members at the World Trade Organisation and reforms at the global trade body. Read more 

    The Panama Canal Could Become the Center of the U.S.-China Trade War

    Foreign Policy: Following outgoing president Juan Carlos Varela’s unexpected decision to end diplomatic relations with Taiwan in order to establish formal ties with Beijing in June 2017, a tidal wave of Chinese investment is in the works. Read more 

    Rick Scott wants the U.S. Navy to block Cuba and Venezuela’s oil trade

    Miami Herald: A week after Rick Scott called for the U.S. military to intervene in Venezuela amid Juan Guaidó’s attempt to oust Nicolás Maduro from power, the U.S. Senate’s biggest hawk on Venezuela is calling for more. Read more 

    Canada calls out on China at WTO council meeting, demands evidence to back canola ban

    Global News: Stephen de Boer, the Canadian ambassador to the world’s leading trade body in Geneva, told the WTO’s general council on Tuesday that Canada wants to meet in China in good faith to hear its science-based concerns that recent Canadian canola shipments were, in fact, tainted. Read more

    Time to say goodbye to NAFTA’s replacement?

    Toronto Star: Last week, White House acting chief of staff Mick Mulvaney was sanguine about the prospect of Congress rejecting NAFTA’s proposed replacement, the United States-Mexico-Canada Agreement (USMCA). “You could stay status quo,” Mulvaney told a California business conference. “Your real Plan Bs are either NAFTA or withdraw from NAFTA.” Read more

    Trade war and Brexit pose mounting risk to EU economy, says EC

    The Guardian: The threat of a full-blown trade war between the US and China and Brexit uncertainty are posing mounting risks to the EU economy, the European commission has warned, after downgrading its growth outlook for 2019. Read more 

    Canada’s trade deficit shrank to $3.2 billion in March, StatsCan reports

    CBC: Statistics Canada says the country’s merchandise trade deficit shrank in March as exports — led by the energy sector — rose faster than imports. The agency says the deficit for March amounted to $3.2 billion compared with $3.4 billion in February. Read more

    A defence of the beleaguered WTO Appellate Body

    IELP blog: See blog post by Prof. Steve Charvonitz.  Read here.

    UK, EU to agree free-trade deal, October 31 Brexit date in doubt – Reuters poll

    The Hill: Britain will eventually leave the European Union and agree a free-trade deal with the bloc, according to the vast majority of economists polled by Reuters who were, however, split on whether the two sides would divorce on Oct. 31. Read more

    As Europe grapples with Brexit, the African Union seeks a more United States of Africa

    CNN: While debates about the unpredictability of economic and political relationships between the EU and Britain continue to linger, thousands of miles away, the African Union (AU) is creating a close-knit relationship among its own 55 member nations. Read more

    US imposes sanctions on shipping firms, tankers tied to Venezuela

    The Hill: The Treasury Department on Friday said it is slapping new sanctions on companies involved in shipping oil from Venezuela to Cuba, marking the latest move by the U.S. to clamp down on embattled President Nicolás Maduro. Read more 

    New FinCEN Guidance on Virtual Currencies

    FinCEN: To provide regulatory certainty for businesses and individuals engaged in expanding fields of financial activity, the Financial Crimes Enforcement Network (FinCEN) today issued the following guidance, Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currencies (CVC). Read more 

    Why the New U.S.-EU Trade Talks May Be Doomed Before They Even Start

    Fortune: By the middle of last year, the U.S. had hit the European Union with steel and aluminum tariffs, the EU had responded with counter-tariffs on American goods, and some feared the situation could escalate into a full-blown trade war. Read more 

    EU commissioner says agriculture not on agenda for US talks

    Euractiv: The European Union intends to keep agriculture off the agenda in its trade talks with the United States and continues to support rules-based, open and predictable international commerce, the EU’s agriculture commissioner said on Friday (10 May). Read more 

    USMCA trade deal could cost Georgia produce growers nearly $900 million, report says

    CNBC: Unless the proposed U.S. Mexico Canada Agreement (USMCA) is changed, it could “cause extensive economic damage to Georgia” and its fresh produce industry, according to economists at the University of Georgia. Read more 

    China says ‘fed up’ with hearing U.S. complaints on Belt and Road

    Reuters: China is “fed up” with hearing complaints from the United States about its Belt and Road program to re-create the old Silk Road, the government said on Thursday, following stinging criticism from U.S. Secretary of State Mike Pompeo. Read more 

    Italy could become Belt and Road terminal in southern Europe: officials

    Xinhua: A conference entitled “Italy-China Partnership in the New Silk Road” was held Friday here, at which Italian government officials and experts voiced their support for the China-proposed Belt and Road Initiative (BRI), discussing the possibility of Italy becoming the BRI’s terminal in southern Europe. Read more 

    Trade facilitation reforms spur development, experts say

    UNCTAD: Effective implementation of reforms to trade facilitation in developing countries can catalyse progress towards meeting development goals, attendees at an UNCTAD expert meeting heard on 7 May. Read more 

    Canada reveals final trade safeguards for heavy plate, stainless steel wire

    CBC: The Canadian Border Services Agency announced Friday the final ‘safeguard’ surtaxes meant to shield the domestic steel industry from competition from cheaper foreign imports of heavy plate and stainless steel wire. Read more 

    WTO NEWS

    UN’s Guterres underscores importance of revitalizing multilateral trade cooperation

    A rules-based, non-discriminatory and equitable trading system is not only in the interest of all trading partners but is essential to preserving the interests of the poorest and most vulnerable economies, United Nations Secretary-General António Guterres told WTO members on 10 May. Speaking at a special session of the WTO’s General Council, Secretary-General Guterres, alongside Director-General Roberto Azevêdo and General Council Chair Sunanta Kangvalkulkij, said members need to work to restore the spirit of international cooperation and “buttress this unique institution that has safeguarded international trading relationships over the past 70 years”. Read more

    WTO launches updated profiles on trade in value-added terms and global value chains

    The WTO released on 9 May an updated set of profiles for 64 WTO members, revealing the share of domestic and foreign components in the exports of these economies and their participation in global value chains (GVCs). The profiles also shed light on the contribution of the services sector to trade and the value of trade in intermediate products for each of the economies covered by the profiles. Read more 

    DG Azevêdo meets with participants of Geneva Week for non-resident members and observers

    Director-General Roberto Azevêdo met with participants in the Geneva Week for non-resident members and observers, taking place at the WTO from 6 to 10 May 2019. Participants had the opportunity to interact with the Director-General, who informed them about current issues in the WTO and the wider trading system. Read more 

    Trade Policy Review: Papua New Guinea

    The third review of the trade policies and practices of Papua New Guinea takes place on 8 May and 10 May 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Papua New Guinea. Read more 

    Summary of WTO General Council Meeting

    A WTO General Council Meeting was held on May 7, 2019. The summary of the meeting is available here.

    Philippines submits request for observer status in WTO Committee on Government Procurement

    Ambassador Manuel A. J. Teehankee, Philippine Permanent Representative to the WTO, delivered to WTO Director-General Roberto Azevêdo on 6 May the request of the Philippine government to become an observer in the Committee on Government Procurement. Read more 

    Consumer groups express support for multilateral trade, stress priorities for e-commerce

    Senior representatives of consumer organizations meeting today (6 May 2019) at the WTO headquarters sent a strong message of support for the WTO and the multilateral trading system. They stressed the importance of ensuring consumers’ concerns are taken into account in trade negotiations and policy-making and presented their priorities for e-commerce along with recommendations on how these priorities should be addressed at the WTO. Read more 

    Applications open for WTO workshop on public health, global trade and intellectual property

    The WTO, in close collaboration with the World Health Organization (WHO) and the World Intellectual Property Organization (WIPO), will hold its 6th annual Workshop on Trade and Public Health in Geneva from 11 to 15 November 2019. The deadline to submit applications is 14 June 2019. Read more 

    BLOG NEWS

    59967901_10156350648221687_2425942741625077760_o (2)This week I presented a paper at the 20th Annual SALISES Conference on “Rethinking Caribbean Futures: New Paradigms, Possibilities and Policies” held at the Hilton Hotel, Barbados, May 8-10, 2019.

    The topic of my paper was on rethinking the eligibility model for Special and Differential Treatment (S&DT) in the World Trade Organization (WTO).

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