Welcome to our Caribbean Trade and Development News Digest covering the week of June 11-17, 2023! 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. We do hope you enjoy this week’s edition!
What’s new on the blog?
My Interview with Barbados’ Honorary Consul Ms Rhoda Green: A couple weeks ago, I had the honour and pleasure of interviewing Barbados’ Honorary Consul to South Carolina and President and Founder of the Barbados and the Carolinas Legacy Foundation, Ms. Rhoda Green.
We spoke about her work, what drives her passion and how the shared history between Barbados and the Carolinas could help propel deeper trade links.
Listen to the audio of the full interview here.
THIS WEEK’S HIGHLIGHTS!
Barbados hosted the SIDS Ministerial Conference on NCDs and Mental Health on June 14-16 in conjunction with the World Health Organization (WHO) and the Pan-American Health Organization (PAHO). It follows on from the SIDS High-Level technical meeting on NCDs and mental health held in January 2023. A major outcome of the conference was the launch of the 2023 Bridgetown Declaration on NCDs and Mental Health which may be accessed here.
Some other important meetings occurred over the past few weeks. The US-Caribbean Leaders meeting occurred in Nassau, Bahamas on June 8, 2023. You can read about the new initiatives announced by US Vice President Kamala Harris here. The Commonwealth Trade Ministers met June 5-6, 2023. Read the outcome statement from that meeting here.
REGIONAL NEWS
Afreximbank to open regional headquarters in Barbados
St Vincent Times: The African Export-Import Bank (Afreximbank) will establish its regional headquarters (office) for the Caribbean and the Americas in Barbados next month, Prime Minister Mia Mottley stated on Tuesday. Read more
Barbados to host first global supply chain forum in May 2024
UNCTAD: The high-level forum will focus on ways to make supply chains more efficient, resilient and sustainable. Read more
Belize formally accepts the Agreement on Fisheries Subsidies
WTO: Belize deposited its instrument of acceptance for the Agreement on Fisheries Subsidies on 16 June, making it the first Central American WTO member and first WTO member of the Caribbean Community (CARICOM) to do so. Read more
Trinidad and Tobago gets approval to suspend tariffs on almond milk, batteries
Newsday: Trinidad and Tobago has received approval on its proposed suspension of common external tariff (CET) on almond milk and lithium ion batteries, which are used in renewable energy systems. Read more
Barbados to end importation of trans fats
Nation News: Barbados’ Minister of Health and Wellness, Senator The Most Honourable Dr Jerome Walcott confirmed the island was on course to end the importation of foods with trans fats by December 2024. Read more
Grenada looking to the African continent to boost tourism
Loop News: Grenada is looking to the African continent as a new source market for the tourism industry. Lennox Andrews, Minister of Tourism, told Loop News that there is an emerging middle class on the continent that they will be targeting. Read more
St. Kitts and Nevis PM to assume chairmanship of OECS
Radio Jamaica News: St. Kitts and Nevis Prime Minister Dr. Terrance Drew will assume chairmanship of the Organization of Eastern Caribbean States (OECS) when the grouping holds its 73rd meeting in St. Kitts and Nevis on Sunday. Read more
Guyana can produce barley for Caribbean, North American markets – President
Newsroom: As Guyana invests in technology to improve food production to satisfy local and regional demands, the country’s President Dr. Irfaan Ali said on Tuesday that the country is capable of producing enough barley for export. Read more
Italian Ambassador to the Dominican Republic assures bilateral trade between the two countries has doubled
Dominican Today: According to the Italian ambassador to the Dominican Republic, Stefano Queirolo Palmas, trade between Italy and the Dominican Republic has experienced steady growth in the past two years, with a remarkable 231% increase since the signing of the Economic Partnership Agreement (EPA) in 2008. Read more
INTERNATIONAL NEWS
Study finds slowdown in exports from Latin America and Caribbean
Jamaica Gleaner: A new study by the Inter-American Development Bank has found that the value of exported goods from Latin America and the Caribbean grew at an estimated rate of 2.9 per cent year-on-year in the first quarter of 2023, after increasing by 16.4 per cent last year. Read more
Presidents of Argentina, European Commission call for ‘win-win’ Mercosur trade deal
Buenos Aires Times: Stopping in Buenos Aires during a trip through Latin America, European Commission head Ursula von der Leyen pushes for EU-Mercosur deal before the year is out; President Alberto Fernández expresses optimism while calling for the “removal of the obstacles” making for inequality. Read more
China pushes for Asia-Pacific trade agreement membership, promises to ‘actively attract’ foreign investment
South China Morning Post: Chinese vice-minister for commerce says Beijing ‘willing to and capable of’ joining CPTPP, known for its strict requirements. Read more
Experts discuss trade, supply chain challenges at AHIF
Trade Arabia: Leaders across the hospitality sector discussed trade restrictions, transport infrastructure, currency fluctuations and supply chain breakages at the recent African Hospitality Investment Forum (AHIF) 2023 in Nairobi, Kenya. Read more
São Tomé and Príncipe Accedes to the Establishment Agreement for Afreximbank’s Fund for Export Development in Africa (FEDA)
Zawya: The Fund for Export Development in Africa (FEDA), the development impact-focused subsidiary of the African Export-Import Bank (Afreximbank), has announced that Democratic Republic of São Tomé and Príncipe has become the latest country to sign the FEDA Establishment Agreement. Read more
UK Businesses Call for Plan to undo Brexit damage
Yahoo: The UK has “run out of road” when it comes to trade agreements after securing deals with over 90 countries and needs a new approach as deals with the US and China are not on the horizon, according to the Resolution Foundation. Read more
Post-Brexit trade deal means ‘inevitable’ business costs, says EU
Euractiv: EU and UK businesses will face ‘inevitable’ extra costs while the post-Brexit trade deal remains in place, European Commission Vice-President Maroš Šefčovič warned on Monday (12 June), playing down the prospect of a major overhaul of the agreement. Read more
STRAIGHT FROM THE WTO!
NEW ON THE CTLD BLOG
The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below: