Caribbean Trade Law and Development

Tag: World Trade Organization

  • Guyana undergoes fourth WTO Trade Policy Review

    Guyana undergoes fourth WTO Trade Policy Review

    Alicia Nicholls

    On March 2 and 4, Guyana underwent its fourth trade policy review at the World Trade Organization (WTO). The trade policy review mechanism (TPRM) is an important component of the WTO’s work to ensure transparency in the rules-based multilateral trading system. Under the TPRM, all WTO members’ trade policies and practices are reviewed at regular intervals. The frequency of a member’s review depends on the member’s share of world trade. Guyana’s previous review was in 2015.

    The WTO’s full membership, meeting in its capacity as the Trade Policy Review Body (TPRB), discusses both the WTO Secretariat report and a policy statement by the government of the member under review which form the basis of the review. Guyana’s delegation was headed by the Honourable Mr. Deodat Indar, Minister within the Ministry of Public Works.

    The Chairperson’s concluding remarks at the end of Guyana’s TPR provide useful insights on some of the issues and comments raised by members during the review process. According to the Chairperson’s remarks, “Guyana received 162 written questions from 10 Members, and has already responded to the majority of them”. 

    Members commended Guyana for its impressive economic growth buoyed by recent oil discoveries, while also acknowledging the on-going challenges such as those posed by the COVID-19 pandemic. Members also applauded Guyana’s active participation in, and contribution to, the work of the multilateral trading system, the country’s commitment to improving its business environment, combatting illegal logging and strengthening forest governance and efforts towards good governance and inclusive and sustainable development. Members also expressed interest in Guyana’s new copyright legislation and its plans to modernize intellectual property laws.

    Members outlined some areas for greater improvement, such as its business environment, increasing transparency in its government procurement practices, engaging in regulatory reforms for improving its service sector and the longstanding situation where some applied tariff rates exceeded their corresponding bound rates. Questions were also raised about Guyana’s recent local content law and how the framework might affect existing joint ventures and create additional barriers to foreign investment.

    The documents from Guyana’s review may be accessed here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B. is a trade and development specialist and founder of the CaribbeanTradeLaw blog http://www.caribbeantradelaw.com.

  • World exports of intermediate goods increased 20% in Q1, says WTO

    World exports of intermediate goods increased 20% in Q1, says WTO

    Alicia Nicholls

    According to a World Trade Organization (WTO) quarterly report released on September 2, global exports of intermediate goods saw a 20% year on year increase in the first quarter of 2021. The WTO report defines intermediate goods as those goods used as inputs in the production of a final product. It noted that “growth was strongest for IG ores, precious stones and rare earths (43 per cent) and food and beverages (22 per cent).”

    Asia was the region which saw the highest percentage growth (28%) in the exports of these goods, mainly due to China. Indeed, China, the US, Germany, Hong Kong (China) and Japan were the top exporters of intermediate goods, according to the WTO report. The first four countries were also the top importers globally, while India was the fifth.

    Access the WTO report here.

  • WTO DG Race: Okonjo-Iweala secures Biden-Harris support

    WTO DG Race: Okonjo-Iweala secures Biden-Harris support

    Alicia Nicholls

    After several weeks of speculation over whether it would maintain the United States (US) objection to the selection of Dr. Ngozi Okonjo-Iweala as the next Director-General of the World Trade Organization (WTO), the Biden-Harris Administration this afternoon announced that it is in support of the world renowned development economist’s selection to the post.

    In a statement released this evening on the website of the United States Trade Representative (USTR), it was noted that:

    The Biden-Harris Administration is pleased to express its strong support for the candidacy of Dr. Ngozi Okonjo-Iweala as the next Director General of the WTO.  Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.  She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership.  

    USTR Statement of February 5, 2021

    Last year, after what seemed to be consensus around Dr. Okonjo-Iweala’s selection, the US (then under the Trump Administration) objected to, and effectively blocked her appointment, citing her limited experience in international trade compared to the other finalist, South Korea Minister of Trade, Yoo Hyung-Hee. Immediately before leaving office, then outgoing USTR Robert Lighthizer doubled down on his objection to her appointment, saying it would be a “mistake”.

    This decision by the Biden-Harris Administration, hopefully, clears the way for the appointment of Dr. Okonjo-Iweala who would become not just the organisation’s first black and first female Director General, but its first from the African continent. A Nigerian born and internationally respected development economist who is also a naturalised US citizen, Dr. Okonjo-Iweala will bring to the post of WTO DG a wealth of experience and knowledge in tackling development issues at the national and global levels, international diplomacy and finance. Among other things, she previously served as Nigeria’s Minister of Finance for two terms where she championed several reforms, as well as second-in-command (Managing Director) at the World Bank. She currently serves as board chair of GAVI, the Vaccine Alliance, as well as sits on the boards of several other international agencies.

    The USTR statement also lauded the credentials of Minister Yoo who withdrew her bid for the WTO’s top post.

    The full statement may be accessed here.

    Image source: Wikipedia

  • Caribbean Trade & Development News Digest – November 29 – December 5, 2020

    Caribbean Trade & Development News Digest – November 29 – December 5, 2020

    Season’s Greetings! Welcome to the Caribbean Trade & Development News Digest for the week of November 29-December 5, 2020! We are pleased to bring you the major trade and development news headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This week, on December 3, negotiators from the European Union (EU) and the Organisation of African, Caribbean and Pacific States (OACPS) finally reached a twenty-year post-Cotonou partnership agreement. With the clock ticking to December 31 – the end of the UK’s transition period – post-brexit negotiations remain hung up on sticking points.

    For the first time since its establishment, the WTO’s Appellate Body will no longer have a single sitting judge as the term of the last remaining AB member Prof. Dr. Hong Zhao of China expired November 30.

    On December 4, Vanuatu became the sixth country to graduate from the United Nations’ category of Least Developed Country. Read more here

    The UN Commission on Narcotic Drugs has voted this week to reclassify cannabis out of the most dangerous category of drug, i.e. removal from Schedule IV of the 1961 Single Convention on Narcotic Drugs which had discouraged even medicinal use. This reclassification has been hailed as a step forward for some Caribbean countries like Jamaica which have joined a growing number of developed countries in developing a cannabis industry, including making cannabis use legal for medicinal and therapeutic purposes. Read more here.

    Looking regionally, the Caribbean Community (CARICOM) signed an MOU with the recently formed CARICOM Private Sector Organisation towards achievement of the CARICOM Single Market and Economy (CSME). CPSO was designated a CARICOM associate institution on October 29, 2020. Read my article on this deepened CARICOM-private sector engagement here.

    REGIONAL NEWS

    Caribbean welcomes new deal to replace Cotonou Agreement

    Jamaica Observer: The Caribbean has welcomed the political deal reached between chief negotiators for the European Union and the Organisation of African, Caribbean and Pacific States (OACPS), for a new partnership accord to replace the Cotonou Agreement. Read more

    EU Blacklists and the WTO

    News784: In this piece, we have argued that trade agreements, buttressed by their dispute settlement and institutional mechanisms, provide viable avenues for CARICOM MS to address the longstanding problem of their inclusion on arbitrary national blacklists by the EU. Read more

    EU and ACP finalise post-Cotonou treaty, after two-year delay

    Euractiv: Negotiators from the EU and African, Caribbean and Pacific community signed off on a broad 20-year partnership deal to succeed the Cotonou Agreement on Thursday night (3 December) after nearly three years of difficult talks. Read more

    CARICOM asks probing questions at UN special session

    Barbados Today: On December 3 and 4, some 155 Presidents and Prime Ministers participated in a Special Session of the United Nations (UN) General Assembly, to discuss the Corona Virus Disease (COVID-19) and the UN response to the pandemic. Read more

    Port of Bridgetown wins Top Award

    GIS.bb: The Port of Bridgetown has captured the 2020 Novaport Cup for Most Improved Port Performance, emerging the winner among nine regional competing ports. Read more

    Jamaica Government secures partnership to expand e-commerce opportunities for MSMEs

    Jamaica Observer: The Government has partnered with two international firms to deliver digital marketing solutions and e-commerce opportunities to micro, small and medium enterprises (MSMEs) as a mechanism to cope with the impact of physical distancing and other restrictive measures due to the novel coronavirus pandemic. Read more

    COTED endorses Made in CARICOM Initiative

    CARICOM: Trade ministers of the Caribbean Community (CARICOM) have unanimously endorsed a proposal to develop a ‘Made in CARICOM’ promotional initiative which will capitalise on one of the opportunities presented by the pandemic. Read more

    New CARICOM-EU project will tackle climate change and its health impacts in the Caribbean

    PAHO: International, regional, and government leaders announced the launch of a broad-based project to support actions to mitigate climate change and its serious health impacts in Caribbean nations. The EU/CARIFORUM Strengthening Climate Resilient Health Systems Project – a joint project of the European Union and CARICOM that PAHO is coordinating – will advance public understanding of climate change effects and strengthen the ability of health systems to respond to climate-related health impacts. Read more

    Guyana’s private sector must help gov’t push down CARICOM trade barriers- Pres. Ali

    Demerara Waves: Even as a newly-formed Caribbean Manufacturing Association (CMA) plans to explore the production of specialised sugars, Guyana’s President Irfaan Ali on Wednesday called on local manufacturers to aggressively remove trade barriers in the Caribbean Community’s Single Market. Read more

    New Chamber of Commerce to Facilitate Two-Way Trade & Investment Between Canada & Guyana

    Newswire: The Canada-Guyana Chamber of Commerce (CGCC) was officially launched today with a mission to facilitate two-way trade and investment between Canada and one of the fastest growing economies in the world – Guyana. Read more

    Grenada Announces Temporary Ban On Poultry From United Kingdom

    Jamaica Gleaner: Grenada says it will place a temporary ban on the importation of poultry products from the United Kingdom as of Monday. Read more

    Jamaica’s imports and exports decline from January – August 2020

    Jamaica Observer: There was a decline in Jamaica’s imports and exports for January to August 2020 when compared to the similar period in 2019 as released today by the Statistical Institute of Jamaica (STATIN). Read more

    Guyana lacks workforce to benefit from impending `explosive’ growth – Canadian High Commissioner

    Stabroek: Outgoing Canadian High Commissioner Lilian Chatterjee today said that Guyana lacks a skilled and sizeable labour force to benefit from the “explosive” oil-linked growth that is coming and she urged the country not to resist foreign investment but use its judgement on who to trust. Read more

    Entrepreneur touts Dominican Republic-Commonwealth trade ties

    Dominican Today: The president of the Round Table of the Countries of the Commonwealth in the Dominican Republic, Fernando González Nicolás, highlighted the influence that the 54 countries of the Commonwealth have on exports and foreign investment in our nation. Read more

    INTERNATIONAL NEWS

    Vanuatu graduated from LDC status

    UN: On 4 December, Vanuatu became the sixth country to graduate from the least developed country (LDC) category. As noted by the United Nations Secretary-General, this is “testimony to years of effort resulting in hard-won sustainable development gains”. Read more

    ‘Painful’ exit of Chinese member leaves WTO appeals body without a judge and trade dispute cases in limbo

    SCMP: For the first time since the World Trade Organization was set up 25 years ago, its Appellate Body, dubbed the top court for world trade, will have no serving judges after the departure of the Chinese member, curbing the WTO’s capacity to handle disputes. Read more

    China’s former trade chief hits out at ‘groundless’ claims country cannot join CPTPP

    SCMP: Beijing’s former top trade negotiator has dismissed as “groundless” claims that China would not meet strict criteria to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the long term. Read more

    U.S. trade deficit widens by 1.7% to $63.1 billion in October

    CNBC: The U.S. trade deficit widened 1.7% in October to $63.1 billion. The politically sensitive gap in the trade of goods with China and Mexico grew. Read more

    US judge orders Trump administration to restore ‘Dreamer’ immigration program

    Barbados Today: A US judge ordered the Trump administration Friday to fully reinstate a program that protects from deportation immigrants who came to the country illegally as children. Read more

    Why Biden will find it hard to undo Trump’s costly ‘America first’ trade policy

    The Conversation: Since becoming president-elect, Joe Biden has signaled that restoring America’s leadership on the world stage is among his highest priorities – an intention aptly demonstrated by his Cabinet picks. Read more

    India submits new proposal limiting role of WTO dispute panel in fisheries management

    Hindu Business Line: New Delhi’s proposal on exempting developing countries with incomes, fish volume below given threshold to be discussed further. Read more

    Thirteen Extra Ordinary Session on the African Continental Free Trade Area (AfCFTA): The Assembly of the Union adopts decision on the start of trading

    Africa News: African Union Heads of State and Government have underscored the urgent need for member states to kick-start trading activities, under the African Continental Free Trade Area (AfCFTA). The decision was adopted during a virtual meeting of the 13th Extra Ordinary Session of the Assembly of the Union on the AfCFTA, held on Saturday 5 December 2020, under the Chairmanship of H.E. Mr Cyril Ramaphosa, President of the Republic of South Africa and Chairperson of the African Union (AU). Read more

    South Africa to make changes to its borders as it prepares for multi-trillion rand trade deal

    Business Tech: President Cyril Ramaphosa’s cabinet has approved a draft One-Stop Border Policy (OSBP) for public consultation. Read more

    Canada trade deficit shrinks slightly in October, still higher than expected

    Reuters: Canada’s trade deficit narrowed slightly to a still greater-than-expected C$3.76 billion ($2.94 billion) in October as exports grew at a faster pace than imports, Statistics Canada data showed on Friday. Read more

    Cambodia, S. Korea FTA much closer

    Khmer Times: A senior official of the Ministry of Commerce (MoC) said negotiations towards a free trade agreement (FTA) between Cambodia and South Korea saw agreement on 90 percent of the issues addressed as the fourth round of talks concluded last month. Read more

    Envoy: US trade embargo is ‘main obstacle’ to trade between Cuba and other countries

    Khmer Times: Sanctions imposed by the United States (US) are a serious roadblock for Cuba doing business with other countries. This was one of the points made by Cuban Ambassador to Cambodia Liurka Rodriguez Barrios in an exclusive interview conducted at the Cuban Embassy in Phnom Penh. Read more

    WTO members may seek more time to decide on TRIPS waiver to fight Covid-19

    Hindu Business Line: 90-day timeline for decision on the India-South Africa proposal to lapse on December 31, but more deliberations could be needed, say officials. Read more

    Japan urges South Korea to end tariffs on steel bars after WTO ruling

    Japan Times: Japan urged South Korea on Tuesday to immediately remove its anti-dumping tariff on Japan-made stainless steel bars after a World Trade Organization dispute settlement panel decision said an extension of the protections would be a contravention of WTO rules. Read more

    What Janet Yellen’s nomination as Treasury secretary means for U.S. policy on China and trade

    CNBC: Former Federal Reserve Chair Janet Yellen has been nominated by President-elect Joe Biden as his Treasury secretary — a position that would make her, if confirmed by the Senate, a critical figure in U.S. trade negotiations with China. Read more

    WTO Members Reveal “Entrenched” Differences as Fisheries Talks Approach 2020 Deadline

    IISD: “Entrenched” positions regarding the issue of special and differential treatment (S&DT) for developing and least developed countries (LDCs) are presenting a challenge in the negotiations on a World Trade Organization (WTO) agreement that would curb harmful fisheries subsidies. Read more

    Brexit trade talks: What’s at stake if no deal is reached

    Sky News: Tariffs, Northern Ireland, travel and mobile phone roaming charges will all be impacted if the two sides cannot reach agreement. Read more

    STRAIGHT FROM THE WTO

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