Caribbean Trade Law and Development

Tag: trade

  • Caribbean Trade & Development Digest – April 7 – 13, 2019

    Caribbean Trade & Development Digest – April 7 – 13, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of April 7-13, 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.

    HIGHLIGHTS

    In this week’s highlights, the United States Trade Representative (USTR) released a list of Products for Tariff Countermeasures in Response to Harm Caused by EU Aircraft Subsidies. In response, the EU has indicated it aims to put tariffs on $12 billion of US exports.

    In Brexit news, the EU granted the Theresa May UK Government a six month extension to October 31, 2019. Read more here.

    Trade was a major topic looming over the IMF/World Bank Spring Meetings held this week. The IMF released its April Outlook in which it noted a deceleration in global growth on the back of several factors, including rising trade tensions. Read the Outlook here. Also watch the panel discussion on “How Trade can promote growth for all” here.

    The 12th Annual Update on WTO Dispute Settlement, which provided an overview and discussion on WTO dispute settlement cases and developments in 2018, was held this week. Watch the playback here!

    REGIONAL NEWS

    Trade between GCC, Latin America and the Caribbean hit $16.3b in 2018

    Gulf News: Trade flows between GCC countries and Latin America and the Caribbean (LAC) reached $16.3 billion (Dh59.86 billion) in 2018, while the UAE remained a top trading partner in the Gulf region for LAC countries, according to a new report conducted by Inter-American Development Bank (IDB) in cooperation with the Dubai Chamber of Commerce and Industry. Read more 

    Consumer and Business Confidence Up in Jamaica

    Caribbean360: Consumer and business confidence in the economy have recorded increases for the first quarter of 2019. Read more

    Jamaica deepens ties with China

    Jamaica Observer: The Government yesterday signed a Memorandum of Understanding with the People’s Republic of China on that country’s Belt and Road Initiative (BRI), to deepen cooperation and partnership between the two nations for economic development. Read more

    Guatemala’s Fishing Trade Spells Trouble for Belize

    The Reporter: An investigation into Guatemala’s thriving shark fishing industry reveals serious concerns for our country and fisherfolk. In February 2019, a team of investigative journalists from The Reporter traveled to southern Belize, then to Guatemala to evaluate the number and scope of sharks, fish and other marine species poached from Belizean waters and exported to Guatemala. Their findings were startling and it was discovered that this issue has deep roots. Read more 

    The Dominican Republic opens plant species and variety registration office

    Fresh Plaza: The Ministry of Agriculture opened the Plant Species and Varieties Registration Office (OREVADO), which seeks to guarantee the institutional framework for people who want to develop new varieties of vegetable crops, innovate in the transfer of technology or invest in production, i.e. breeders. Read more 

    Dominican Republic leads Caribbean economies

    Global Finance: The economy of the Dominican Republic is set to surpass its regional neighbors this year, notching the highest growth in the Caribbean region. The DR has been gaining attention for its ability to maintain steady robust economic growth. In 2018, GDP rose by 7%, and the latest report by the country’s central bank says all industries are expanding—and that its free-trade zones in particular are drawing investment. Read more

    Atlantic International Bank maintains innocence in US Federal Trade Commission accusations but faces international ramifications

    LoveFM: Atlantic Bank International is currently unable to process wire transfers, in and out, for its overseas customers who are in need of Belize currency. The stoppage in this service is the direct result of the Bank of New York issuing a ban against Atlantic Bank International after the US Federal Trade Commission has roped in Atlantic Bank International as an ally in the Sanctuary Bay multi-million-dollar scheme that saw several US investors lose money in a project that never came to fruition. Read more

    CDB Grant Stirs Up Fuss About Regional White Sugar

    Jamaica Gleaner: The April 2 announcement of a more than US$97,000 gift from the Caribbean Development Bank, CDB, to Caricom for a study on plantation white sugar has Jamaican manufacturing representatives lining up on different sides of the hot-button issue. Read more 

    Govt to build nation’s quality standards system – Sutherland

    Barbados Today: “Government considers this goal as urgent, and of very
    high priority, in our efforts to enhance the national competitiveness of our local micro-small and medium size (MSMEs) businesses, industries and the promotion of fair trade,” he said. Read more 

    CARICOM vital to regional development: Grenada’s new envoy

    Caribbean News Service: CARICOM has been an indispensable force, says new envoy. Read more 

    Call for Caribbean to speak out

    Barbados Today: The Minister for tourism has issued a call for the Caribbean to take a defiant stand against the international community’s imposition of standards on small states – even as his own Government was racing to comply with new financial reporting rules set by a global watchdog. Read more

    US report names several Caribbean nations as “major money laundering” centres

    Caribbean News Now: In the latest US International Narcotics Control Strategy Report (INCSR), volume two dedicated to money laundering, the report lists all major Caribbean and Central American countries as “Major Money Laundering Jurisdictions” for the year 2018: Antigua and Barbuda, Aruba, The Bahamas, Barbados, Belize, British Virgin Islands, Cayman Islands, Colombia, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, St Kitts and Nevis, Saint Lucia, St Vincent and the Grenadines, St Maarten, Suriname, Trinidad and Tobago and Venezuela. Read more 

    INTERNATIONAL NEWS

    Argentine Elections Could Narrow Brazil’s Mercosur Reform Path

    Stratfor: Brazilian President Jair Bolsonaro’s push to reform the trade policy of the Common Market of the South (Mercosur) risks collapsing without the support of Argentina. Read more

    Ambassadors pave the way for EU-US trade talks, despite French opposition

    Euractiv: Europe is set to start trade talks with the US after ambassadors gave their green light on Thursday (11 April) to a proposed mandate for the European Commission to conduct the negotiations on behalf of the 28 EU member countries. Read more

    EU27 is now free to hold summits without the UK

    Euractiv: The EU27 will be free to hold official Council meetings and make decisions without the UK despite the country still being a member of the Union, in a move seen as a success for France’s President Macron, who led calls for the restrictions. Read more

    Tokyo and Washington finally set to kick off trade talks as American farmers fume over poor Japan access

    Japan Times: This week, negotiators from Japan and the United States will meet in Washington to address something that U.S. President Donald Trump considers to be long overdue: trade negotiations to open the Japanese market to more American goods. Read more

    China-US trade deal could threaten Beijing’s other trading partners, IMF says

    South China Morning Post: Any trade deal between China and the United States must comply with multilateral rules, as not doing so may create economic risks for the Asian nation’s other major trading partners, the International Monetary Fund said. Read more 

    South Korea WTO appeal succeeds in Japanese Fukushima food dispute

    Reuters: South Korea won the bulk of its appeal on Thursday in a dispute at the World Trade Organization over import bans and testing requirements it had imposed on Japanese seafood in the wake of the 2011 Fukushima nuclear disaster. Read more 

    China has good reasons to join Pacific Trade pact, but obstacles remain

    The Strait Times: If China joined a massive Pacific trade deal, it could create hundreds of billions of dollars in extra income and spur domestic reforms, say analysts, but signing up would be far easier said than done. Read more 

    China, US could win big on no-deal Brexit: UN

    France24: If Britain leaves the EU without a deal, the bloc and Britain’s smaller trading partners stand to lose big, but Beijing and Washington could reap huge benefits, the UN said Tuesday. In a fresh report, the UN Conference on Trade and Development (UNCTAD) examined what repercussions it would have for Britain’s trading partners if the country crashes out of the European Union without a deal. Read more 

    Commission releases detailed information on requirements for EU goods exported to the UK in case of a hard Brexit

    EU: The European Commission has included in its Market Access Database detailed information on the rules that the UK would apply on its imports from the EU in the event of a hard Brexit. It is based on information made publicly available by the United Kingdom authorities. Read more

    EU foreign investment screening regulation enters into force

    EU: The new EU framework for the screening of foreign direct investments has officially entered into force on 10 April 2019. The new framework is based on proposal tabled by the European Commission in September 2017 and will be instrumental in safeguarding Europe’s security and public order in relation to foreign direct investments into the Union. Read more

    India reduces trade deficit with China by $10 billion in FY19

    CNbcTV: India’s trade deficit with China fell by $10 billion to $53 billion in FY19 on the back of lower imports, officials told CNBC-TV18. The downtick in the merchandise trade gap was also aided by new market opportunities arising out of the US-China trade war in the neighbouring nation. Read more 

    India’s trade ministry says no legal basis to ban e-cigarette imports

    Economic Times: India’s trade ministry says it cannot impose a ban on electronic cigarette imports as there is no legal basis for doing so, an internal government memo viewed by Reuters shows, in a boost for those looking to tap into the country’s growing vaping market. Read more 

    Africa’s new free trade area faces bumpy road to full implementation

    Global Trade Review: The Gambia has become the 22nd nation to ratify the African Continental Free Trade Area (AfCFTA), the number required for the agreement to take effect. While this marks a significant step towards the continent’s ambition to create a single market, the free trade area will face a bumpy road to full implementation. Read more 

    Why no-deal Brexit could be a win for South Africa

    Business Tech: A no-deal Brexit could damage smaller economies trading with the United Kingdom (UK) – but bring substantial gains for China and other trading partners such as South Africa. Read more 

    A US-EU trade war would be a political and economic mistake, says French finance minister

    CNBC: With global growth already slowing down, starting a trade war now between the U.S. and the European Union would be both a political and economic mistake, French Finance Minister Bruno Le Maire said Thursday. Read more 

    Brexit: UK and EU agree delay to 31 October

    BBC: European Union leaders have granted the UK a six-month extension to Brexit, after late-night talks in Brussels. The new deadline – 31 October – averts the prospect of the UK having to leave the EU without a deal on Friday, as MPs are still deadlocked over a deal. Read more

    EU Commission split on fertiliser anti-dumping duties

    Independent: A serious spat involving two arms of the EU Commission has erupted over attempts by the fertiliser industry to have anti-dumping duties imposed on liquid urea ammonium nitrate (UAN). Read more 

    EU-U.S. Trade War Escalates Over Disputed Aviation Subsidies

    Bloomberg: The European Union is preparing retaliatory tariffs against the U.S. over subsidies to Boeing Co., significantly escalating transatlantic trade tensions hours after Washington vowed to hit the EU with duties over its support for Airbus SE. Read more

    Report to Congress on China’s Engagement with Latin America and the Caribbean

    The following is the April 11, 2019 Congressional Research Service Insight report, China’s Engagement with Latin America and the Caribbean. Read more 

    EU aid increases, bucking global trend

    Euractiv: Development aid spending by EU members saw a slight increase to $87 billion in 2018 (€77 billion) compared to 2017, according to new data published by the Organisation for Economic Co-operation and Development (OECD). Read more 

    WTO NEWS

    VACANCY: Young Professionals Programme – Apply by April 15, 2019

    The WTO Young Professionals Programme was launched in 2016 as an opportunity for qualified young professionals from developing and least-developed countries that are members of the WTO to enhance their knowledge regarding WTO and international trade issues. Read more 

    WTO’s Trade Policy Review Mechanism turns 30

    The WTO marked on 12 April the 30th anniversary of the Trade Policy Review Mechanism (TPRM), which over the last three decades has contributed to ensuring and facilitating the smooth functioning of the multilateral trading system by enhancing the transparency of WTO members’ trade policies. Read more 

    Registration opens for screening of second compliance panel meeting in “EC — Large Civil Aircraft”

    At the request of the parties in the dispute “European Communities and Certain Member States — Measures Affecting Trade in Large Civil Aircraft: Recourse to Article 21.5 of the DSU by the European Union and Certain Member States” (DS316), the panel has decided to invite officials of WTO Members and Observers, and the general public, to view a recording of its substantive meeting with the parties and consenting third parties. The public viewing will take place at the WTO headquarters in Geneva on 13 May 2019. Read more 

    DG Azevêdo: rules-based trading system is “irreplaceable” but must be ready to evolve

    At a speech delivered to the Peterson Institute in Washington DC on 11 April, Director-General Roberto Azevêdo underlined the critical importance of the WTO to the stability and predictability of the global trading system. At the same time “it is clear that the WTO has to be better, faster and more responsive” to the challenges facing the organization and the system as a whole. Read more 

    WTO hosts closing ceremony of Model WTO 2019

    Over 70 students from around the world came to the WTO’s headquarters on 11 April for the conclusion of Model WTO 2019, a week-long simulation of WTO negotiations organized by a group of students from the University of St. Gallen with the support of the WTO. Read more

    WTO establishes panel to review Turkish duties on Thai air conditioners

    At a meeting of the Dispute Settlement Body (DSB) on 11 April, WTO members agreed to Thailand’s request for the establishment of a dispute panel to rule on duties levied by Turkey on imported Thai air conditioners. Members also considered Russia’s request for a panel regarding European Union anti-dumping duties on Russian steel products and formally adopted the compliance panel and Appellate reports in the EU’s complaint against US subsidies for Boeing. Read more

    Appellate Body issues report regarding Korean restrictions on Japanese food imports

    On 11 April the Appellate Body issued its report in the case brought by Japan in “Korea — Import Bans, and Testing and Certification Requirements for Radionuclides” (DS495). Read more

    WTO, IMF and World Bank leaders stress vital role of trade in reducing poverty

    Director-General Roberto Azevêdo joined with IMF Managing Director Christine Lagarde and World Bank CEO Kristalina Georgieva on 10 April to argue for renewed efforts to leverage trade as a force to reduce poverty. DG Azevêdo argued that the current trade tensions could undermine recent progress in tackling poverty. “We cannot afford to go down this path,” he said. The three leaders were speaking at a joint WTO-IMF-World Bank event in Washington DC titled “Beyond Uncertainty: Leveraging Trade to Reduce Poverty”, held alongside the World Bank-IMF Spring meetings. Read more 

    EU initiates WTO dispute complaint against Turkish measures affecting pharmaceuticals

    The European Union has requested dispute consultations with Turkey regarding various requirements imposed by Turkey on the production, import and approval for reimbursement, pricing and licensing of pharmaceutical products. The request was circulated to WTO members on 10 April. Read more 

    Trade Policy Review: Samoa

    The first review of the trade policies and practices of Samoa takes place on 10 and 12 April 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Samoa. Read more 

    CTLD BLOG NEWS

    Read my latest article with Dr. Jan Yves Remy, Deputy Director of the University of the West Indies’ Shridath Ramphal Centre for International Trade Law, Policy & Services exploring the issue of special and differential treatment in the World Trade Organization from a Caribbean perspective Special and Differential Treatment at the WTO: A Caribbean Perspective.

    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.

  • Caribbean Trade & Development Digest – March 31 – April 6, 2019

    Caribbean Trade & Development Digest – March 31 – April 6, 2019

    Welcome to the Caribbean Trade & Development Digest for the week of March 31- April 6, 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.

    HIGHLIGHTS

    With the new Brexit deadline of April 12, 2019 fast approaching and no sign that British MPs are any closer to backing the Draft Withdrawal Agreement negotiated by the Theresa May Government with the EU, which they already rejected three times, the UK Government has asked for a further extension until June 30, 2019.

    The WTO released its April outlook for global trade growth, revising downward its forecast for 2019 amidst rising trade tensions. Read more here: WTO: Trade tensions pose greatest risk to trade growth

    Meanwhile regionally, the CARICOM Competition Commission (CCC) has warned that the sale of Scotia Bank could have anti-competitive effects in three countries. Read the statement from the CCC here.

    The text of the CARIFORUM-UK Economic Partnership Agreement has been released. Read more here: UK-CARIFORUM Economic Partnership Agreement: What does it all mean?

    REGIONAL NEWS

    Local manufacturers told to explore extra regional markets

    LoopTT: Local manufacturers are being urged to seek out and penetrate new markets beyond CARICOM.  Trade and Industry Minister Paula Gopee-Scoon made the comment while speaking at the Trinidad and Tobago Manufacturers’ Association’s (TTMA) 63rd Annual General Meeting on Tuesday. Read more 

    Towards a Transparent and Effective Management of Guyana’s Oil and Gas Sector

    Modern Diplomacy: The World Bank’s Board of Executive Directors approved a US$20 million credit from the International Development Association (IDA) to strengthen institutions, laws and regulations to promote good governance and a prudent management of Guyana’s oil and gas sector. Read more 

    CARICOM body warns sale of Scotiabank could have anti-competitive effect

    Nation News: The Suriname-based Caribbean Community (CARICOM) Competition Commission (CCC) says the intended sale of Scotiabank’s assets in nine Caribbean countries could have anti-competitive effects in at least three CARICOM member states. Read more 

    Imbert: US lobbyist seeking opportunities for Govt

    Guardian (TT): The Group DC LLC, the US lob­by­ist firm, which un­der­took sev­er­al trade and in­vest­ment pro­mo­tion ini­tia­tives for the T&T Gov­ern­ment last year, iden­ti­fied op­por­tu­ni­ties and strate­gies to en­gage multi­na­tion­al cor­po­ra­tions to po­ten­tial­ly in­crease com­mer­cial ship­ping and dry­dock con­struc­tion here. Read more 

    Take Trade Matters Seriously

    Barbados Today: Former Barbados Government Minister, Ms. Lynette Eastmond wants to see a different approach by the Barbados private sector to the issue of the country negotiating trade agreements. Read more 

    CDB grant to help CARICOM investigate suitability of plantation white sugar for regional manufacturing

    Caribbean News Now: A collaboration between the Caribbean Development Bank (CDB) and the Caribbean Community (CARICOM) aims to improve the availability of data to guide evidence-based decisions about the future of sugar in CARICOM. Read more 

    Guyana part of regional study on substituting refined sugar with “plantation white”

    Demerara Waves: Guyana is among four sugar-producing Caribbean Community (CARICOM) member nations that will be the focus of a regional study on the prospects of substituting imported refined sugar with plantation white, the Caribbean Development Bank (CDB) said Tuesday. Read more 

    CSME: The principle, process and progress

    Newsday (Trinidad): Gracia Whyte a Jamaican, made sure she had all her documents in order when she began the process of applying for a Caricom Single Market Economy (CSME) skills certificate. She even had her employer, Digicel, to help ease her through the transition during her application process. Bureaucracy, however, still held her back. Read more 

    Wto ‘No Silver Bullet’ For Gdp Growth Woes

    Tribune242: Full World Trade Organisation (WTO) membership “is not a silver bullet” for solving The Bahamas’ economic growth woes, a Chamber of Commerce executive argued yesterday. Read more 

    Aruba Extends Airbnb Agreement

    Travel Pulse: Aruba’s government has extended its 2016 agreement with home-stay provider Airbnb to “continue with the promotion of sustainable tourism in Aruba through home sharing,” said Aruba Tourism Authority (ATA) officials in a statement. Read more 

    Belize Imports up 6.8% in February 2019

    Amandala: Latest statistics released by the Statistical Institute of Belize (SIB) say that Belize imported nearly $146 million worth of goods in February 2019, an increase of $9.2 million (6.8%) over the $136.8 million worth of goods we imported in February 2018. Read more 

    INTERNATIONAL NEWS

    Brexit chaos leaves dismay in Asia-Pacific

    Asia Times: Britain’s failure to acyhieve a withdrawal agreement with the EU has had a very negative impact on the UK’s relationships in Asia and it could deal a serious blow to its trade with the region. Read more 

    White House economic adviser Larry Kudlow says US-China trade deal ‘closer and closer’

    South China Morning Post: US President Donald Trump’s top economic adviser says the US and China are “closer and closer” to a trade deal, and that top-tier officials would be talking again this week via “a lot of teleconferencing”. Read more

    A swashbuckling global Britain free to do its own trade deals? It’s a mirage

    The Guardian: Whatever happens in the Brexit negotiations, the question of the UK’s future trade relations with countries outside the European Union will become acute for businesses, investors, workers and citizens. Read more 

    Chile Lawmakers Delay Vote Again on Pacific Trade Deal

    Bloomberg: Chilean lawmakers have once again delayed voting on a major Pacific trade deal, heightening concerns that they could reject the treaty. Read more 

    Major New UN Report Calls for Overhaul of Global Financial System

    UNDP: Sixty-plus international organizations, led by the United Nations and including the International Monetary Fund, the World Bank Group and World Trade Organization, jointly sounded the alarm Thursday in a new report, warning that unless national and international financial systems are revamped, the world’s governments will fail to keep their promises on such critical issues as combatting climate change and eradicating poverty by 2030. Read more 

    Moving the ACP Group to Centre Stage of Multilateralism

    IndepthNews: In today’s global situation that bears the features of turbulence, fragility and an increasingly precarious balance between peace and possible nuclear annihilation, the role and relevance of the United Nations Organisation has assumed unparalleled importance. Read more 

    Brexit extension veto by EU unlikely, says Leo Varadkar

    BBC: It is unlikely an EU 27 country will veto a UK request for a delay to Brexit, the Irish prime minister has said. Read more 

    May asks for Brexit extension to 30 June as Tusk offers up to a year

    The Guardian: Rather than the year-long flexible extension to article 50 recommended by the European council president, the prime minister suggested 30 June as the new departure date, but with an option to leave earlier if the necessary legislation has been passed. Read more 

    The African Continental Free Trade Area – More Hills To Climb

    East African Business Week: The African Continental Free Trade Area (AFTA) has garnered the required 22 ratifications for it to enter into force, the latest ratification coming in on April 1, 2019, from The Gambia. Read more 

    Trade agreement bolsters South Africa exports into Brazil

    African daily voice: According to South African Foreign Economic Representative in Brazil, Shanaaz Ebrahim, the preferential trade agreement between the Southern African Customs Unions (SACU) and the Southern Common Market (Mercosur) trade blocs has led to a steady increase of South African exports into Brazil. Read more

    After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns

    CNBC: Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD). Read more 

    The Risk of E-Commerce Provisions in the RCEP

    The Diplomat: The world of digital economies, innovation, and global value chains (GVCs) is changing rapidly. Every day there are stories about new technologies, services, and products that present unexpected possibilities and unforeseen challenges. Read more 

    RCEP trade pact likely to be concluded in November: ASEAN chief Lim Jock Hoi

    Japan Times: An Asiawide free trade deal involving 16 countries will likely be concluded in November at a summit of the Association of Southeast Asian Nations to be held in Thailand, ASEAN Secretary-General Lim Jock Hoi has said. Read more 

    Pelosi: No vote on new NAFTA until Mexico changes labor laws

    Politico: Speaker Nancy Pelosi indicated on Tuesday the House will not consider President Donald Trump’s new North American trade pact until after Mexico has passed and implemented its major labor law reforms. Read more 

    Canada says reopening USMCA trade pact could be a ‘Pandora’s box’

    Reuters: Canadian Foreign Minister Chrystia Freeland on Thursday cautioned against the idea of reopening a new continental trade pact with the United States and Mexico, saying it could be a “Pandora’s box.” Read more 

    U.S., China to Keep Working on Trade Deal After Latest Talks

    Bloomberg: China and the U.S. made progress toward a much-anticipated trade deal in their latest meetings and will keep talking on the remaining issues, the state-run Xinhua news agency reported. Read more 

    Why the Kenya-Uganda trade agreement over SGR is a raw deal for Kenya

    CFM (Kenya): Last week President Uhuru Kenyatta and his Ugandan counterpart Yoweri Museveni struck a wide ranging trade agreement that basically removes existing trade barriers and commits Uganda to connect to Kenya its component of the SGR under the broader Chinese belt and road initiative (BRI). Read more

    WTO NEWS

    WTO issues panel report regarding Russian restrictions on traffic in transit

    On 5 April the WTO circulated the panel report in the case brought by Ukraine in “Russia — Measures Concerning Traffic in Transit” (DS512). Read more 

    Australia ratifies WTO procurement pact

    Australia has ratified the WTO’s Agreement on Government Procurement (GPA), submitting its instrument of accession to the WTO Secretariat on 5 April. Starting next month, the country will benefit from new market access opportunities and other provisions under the pact. Read more 

    Members advance work on new import licensing website and database

    As part of overall efforts to improve transparency, WTO members advanced work to put into place a new import licensing website and database expected to be launched in late 2019 or early 2020. Read more 

    DG Azevêdo praises Mexico’s support for a strong and effective rules-based system

    Director-General Roberto Azevêdo welcomed Mexican President Andrés Manuel López Obrador’s strong support for the WTO on 4 April, when they met in Mexico City. Their discussions included the importance of international trade and of a strong and effective rules-based system and the emerging debate on how to strengthen the WTO and global trade cooperation. Read more

    Trade Policy Review: Bangladesh

    The fifth review of the trade policies and practices of Bangladesh takes place on 3 and 5 April 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Bangladesh. Read more 

    Egypt launches safeguard investigation on semi-finished products of iron or non-alloy steel and steel rebar for construction purposes

    On 2 April 2019, Egypt notified the WTO’s Committee on Safeguards that it initiated on 31 March 2019 a safeguard investigation on semi-finished products of iron or non-alloy steel and steel rebar (bars, rods and coils) for construction purposes. Read more 

    Global trade growth loses momentum as trade tensions persist

    World trade will continue to face strong headwinds in 2019 and 2020 after growing more slowly than expected in 2018 due to rising trade tensions and increased economic uncertainty. WTO economists expect merchandise trade volume growth to fall to 2.6% in 2019 — down from 3.0% in 2018. Trade growth could then rebound to 3.0% in 2020; however, this is dependent on an easing of trade tensions. Read more 

    CTLD BLOG NEWS

    The Caribbean Trade Law & Development (CTLD) Blog has been rated number 10 on Feedspot‘s Top 30 Caribbean Blogs, News Websites & Newsletters To Follow in 2019.

    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.

  • Text of UK-CARIFORUM EPA Published

    Text of UK-CARIFORUM EPA Published

    Alicia Nicholls

    The text of the United Kingdom-CARIFORUM Economic Partnership Agreement (UK-CARIFORUM EPA) has finally been published online. Whether you are a trade policy nerd or simply a business person concerned about the continuity of trade preferences between the UK-CARIFORUM countries post-Brexit, you would be forgiven for anxiously awaiting the release of the text.

    Brexit Day (which was to have been March 29, 2019) has passed and the UK remains an EU member and no closer to any certainty regarding its future trading relationship with the EU-27 post-Brexit.  The UK government has requested a further extension to June 30, 2019 in hopes of getting British MPs to back the Draft Withdrawal Agreement which they rejected three times already.

    Brexit chaos aside, on March 22, 2019, it was announced that the UK and CARIFORUM countries had signed a trade continuity agreement called the UK-CARIFORUM Economic Partnership Agreement which would preserve the preferences between the UK and CARIFORUM currently under the CARIFORUM-EU EPA. The CARIFORUM-EU EPA has been provisionally applied since 2008.

    This means that CARIFORUM is one of the handful of trading partners with which the UK has managed to so far conclude trade continuity agreements. The UK is the most important trading partner in the EU for CARIFORUM countries and CARIFORUM leaders quickly recognised the need to ensure the continuity of trading conditions post-Brexit between the UK and CARIFORUM States.

    The UK-CARIFORUM EPA was signed by the UK and nine CARIFORUM States (Barbados, Belize, The Commonwealth of Dominica, Grenada, The Republic of Guyana, Jamaica, St. Christopher & Nevis, St Lucia and St Vincent and the Grenadines) on March 22, 2019. Trinidad & Tobago signed on April 1, 2019, while the remaining CARIFORUM States have indicated they will sign shortly.

    As it currently stands, UK-CARIFORUM trading relations remain governed by the CARIFORUM-EU EPA, and the UK-CARIFORUM EPA is only expected to take effect once the CARIFORUM-EU EPA no longer applies to the UK. For it to enter into force, ratification will be needed by each of the parties. The Agreement’s utility stems from the fact that it ensures the continuity of preferential trading relations between the UK and CARIFORUM States once the UK leaves the EU, particularly in the case of a no-deal Brexit.

    The UK-CARIFORUM Economic Partnership Agreement replicates the provisions of the CARIFORUM-EU EPA to the extent possible, including its development cooperation provisions. It also establishes a Joint CARIFORUM-UK Council with responsibility for implementing the Agreement, as well as a CARIFORUM-UK Trade and Development Committee. For further information, please feel free to read my commentary on it here: UK-CARIFORUM Economic Partnership Agreement: What does it all mean?

    The text of the UK-CARIFORUM Economic Partnership Agreement may now be found  online 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.

     

  • Accelerating Gender Mainstreaming in CARICOM Trade Policy

    Accelerating Gender Mainstreaming in CARICOM Trade Policy

    Dr. Jan Yves Remy and Alicia Nicholls

    While we can all agree that trade offers the potential for inclusive and sustainable growth in small Caribbean states, deployment of a successful trade strategy requires recognition and ultimately monitoring of its differentiated impacts on women and men. Despite immense strides made in empowering women, they remain under-represented in global trade and are disproportionately affected by international competition and technological changes.

    On the occasion of International Women’s Day 2019, we highlight the link between trade and gender and make the case that accelerating gender mainstreaming in trade policies of CARICOM Member States promotes not just gender equality, but inclusive growth as well.

    Gender Equality and Development Nexus

    Under the United Nations Sustainable Development Goal 5, the international community has committed to achieving gender equality and empowering all women and girls by 2030. Not only is enhancing women’s equality and economic empowerment a human right, but the removal of legal and other barriers to women’s economic inclusion has a multiplier effect in the economy due to women’s dual role as caregivers and economic actors. World Bank research has found that women invest up to 90% of their income in their families, with positive spill-overs for their communities and the economy. A recent Mckinsey Global Institute Report found that advancing women’s equality could add $12 trillion to global GDP by 2025.

    Despite this compelling data, and although they account for half of the world’s working age population, women remain under-represented in international trade on account of their unequal access to factors of production and inbuilt gender biases. A recently released World Bank Report entitled “Women Business and the Law 2019” found that out of 187 countries globally, women had equal legal rights to men in only 6.

    Gender and Trade Nexus

    Trade policies are not necessarily gender neutral: they impact women and men differently at both the country and sectoral levels. Recognizing this, a policy of “gender mainstreaming” aims to promote gender equality by integrating gender considerations in the preparation, design, implementation and monitoring of policies.

    Trade creates opportunities for women’s empowerment by creating both employment and business opportunities, but it can also alienate them. For example, while e-commerce can improve women’s access to foreign markets, increased competition through trade liberalisation can displace and marginalize women in agriculture. Because they are both caregivers and economic actors, women often have less time on average than men to engage in entrepreneurial and exporting activities. At the same time, their access to market information is often lower due to fewer networks and lower education levels. Knowing this, ex ante gender-based analysis can assist policymakers to avoid negative gender impacts of policies that they implement.

    A number of international institutions have developed programmes to increase women’s inclusion in trade. For instance, the International Trade Centre (ITC) has created a She Trades electronic platform; and the World Trade Organization (WTO), at its Buenos Aires Ministerial Conference in 2017, adopted a Joint Declaration on Trade and Women’s Economic Empowerment. Regionally, the Caribbean Export Development Agency’s Women Empowered Through Export (We-Xport) initiative supports Caribbean businesswomen looking to export for the first time or to increase their goods and services exports.

    But there is still lots to do in CARICOM. Despite the fact that CARICOM Member States are signatory to a plethora of international treaties aimed at the empowerment of women, their trade policies are to a large extent being enacted and maintained in the absence of evidence and data that is timely, comparable and sex-disaggregated. Mainstreaming gender into CARICOM countries’ trade and development policy-making would help to ensure that initiatives under the CARICOM Single Market and Economy (CSME) and CARICOM’s trade negotiations with third parties are gender-sensitive. It is, therefore, a welcome development that Belize’s recently launched National Trade Policy (2019-2030) incorporates gender equality as a cross-cutting issue. Another praiseworthy development is that in February 2019, it was announced that national consultations were underway on a draft CARICOM Regional Gender Equality Strategy to advance gender equality and equity and the empowerment of women and girls in each of the fifteen CARICOM Member States.

    How can CARICOM Member States promote Gender Mainstreaming in Trade?

    Based on the above, we recommend the following ways in which CARICOM’s trade policies may be more gender-sensitive:

    • Mainstreaming gender in the design and implementation of National Trade Policies. Belize’s new National Trade Policy can serve as a good model;
    • Gender sensitivity training of key technocrats charged with formulating, implementing and monitoring trade and economic policies and their gendered impact. Gender-based policy making and monitoring will require greater resource allocation to the agencies charged with gender affairs;
    • Enlisting the assistance of civil society and the private sector in designing trade policies and measuring their impact;
    • Increasing specific programmes in Member States’ aimed a promoting women’s entrepreneurship and export activities through capacity-building, improving their access to finance and to trade information;
    • Promoting greater inclusion of gender provisions in CARICOM’s free trade agreements (FTAs). The most far-reaching of these FTAs like the Canada-Chile and Chile-Uruguay FTAs, contain dedicated trade and gender chapters. CARICOM’s trade agreements, however, are generally sparse on gender provisions;
    • Continued lobbying of regional policy makers to honour the commitments they have made both regionally and internationally to promote gender equality, particularly their reporting and gender mainstreaming commitments.

    International Aid for Trade programming is becoming increasingly gender-focused. With foreign donors increasingly making gender an important plank of their aid strategies, CARICOM governments seeking development assistance are increasingly under pressure to include gender considerations. However, gender mainstreaming is not just about ensuring CARICOM Member States meet their international treaty obligations or increase their access donor to funding. When properly implemented, gender-sensitive trade policies promote women’s empowerment, eradicate poverty and foster inclusive growth.

    Dr. Jan Yves Remy is the Deputy Director of the University of the West Indies, Cave Hill’s Shridath Ramphal Centre for International Trade Law, Policy & Services. Alicia Nicholls is an international trade and development consultant and contributing author to the UWI SRC’s Trading Thoughts column.