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OFFICE OF TRADE NEGOTIATIONS
DAILY DIGEST
2012 September 28th
WTO Arena
ICC Proposes Measures to Stimulate Global Economy
The International Chamber of Commerce has unveiled the initial recommendations of its Business World
Trade Agenda initiative, aimed at stimulating the global economy by helping to move the World Trade
Organization’s (WTO) multilateral trade negotiations out of an 11-year deadlock. The ICC said its initiative is
“aimed at mobilizing international business – representing small, medium and large enterprises that produce
the goods and services traded daily throughout the world – to define a practical and forward-looking
multilateral agenda.
http://www.insurancejournal.com/news/international/2012/09/28/264711.htm
CARICOM-CANADA
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MERCOSUR
Message to Mercosur: “Paraguay will never accept intervention by foreign powers in its internal
affairs”
On what he described as the “first and last time” he will address the United Nations General Assembly, the
President of Paraguay, Federico Franco, affirmed that his country will not abide by any infringement on its
sovereignty.
http://en.mercopress.com/2012/09/28/message-to-mercosur-paraguay-will-never-accept-interventionby-foreign-powers-in-its-internal-affairs
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
EU/ ACP
OP-ED: Tenth Anniversary of EPA Negotiations: Not a Time for Celebration
However, Caribbean countries did not have to sign-up to a ‘full EPA’ which went beyond an agreement that
would have been compatible with World Trade Organisation (WTO) rules. But, some governments
accepted the promise that the ‘full EPA’ would open the European market to Caribbean services. Of course,
five years later this has not happened in any meaningful way. Meanwhile, under the ‘full EPA’ Caribbean
governments gave the EU commitments on services, competition, procurement and trade facilitation that are
still to be settled as global rules in the WTO, but which the EU wanted to establish not only for the
Caribbean, but also as a precedent for negotiations with the more important and lucrative markets of Africa.
As it has turned out no Caribbean country has derived any great advantages from the ‘full EPA’; they have
continued to rely on the Cotonou Agreement that was signed in 2000 and expires in 2020.Indeed, the
Caribbean experience of the EPA is that several governments have not implemented their commitments to
remove tariffs on EU imports according to an agreed schedule and each of them is now at risk of being
taken to arbitration by the European Commission.
http://www.huntingtonnews.net/45124
Development assistance and the Caribbean
One year ago Europe made clear that it intended changing the basis on which it provides development
assistance to the region. Then, two Communications (policy papers), proposed that the EU should
concentrate its future support on the least developed countries and a limited number of priority areas. It
should graduate out of assistance high income and upper middle income countries such as those in the
Caribbean. No one in the region spoke…As a consequence after 2013 Europe’s traditional approach to
support though multi-annual national and regional programmes will cease. So too will budgetary support, the
mechanism that provides financial resources directly to governments to administer. Why no one had
spoken out in the Caribbean’s interest on either the principles involved or the detail when this first became
apparent is a mystery. Despite the EU’s known history of changing its policies at will to the detriment of the
region on everything from sugar to trade agreements, no leading politician in the region has made this an
issue, has spoken publicly, given an interview, rallied local opinion, or spoken to key European interlocutors
in the European Parliament, EU member states, the media or NGOs. It suggests that Caribbean
governments, foreign ministries and the region have lost track of how public opinion is formed and swayed
and the need to use it to their political advantage to build coalitions in Europe and elsewhere.
http://www.dominicantoday.com/dr/opinion/2012/9/28/45251/Development-assistance-and-theCaribbean
St Kitts and Nevis seeking an extension on EPA deadlines
The St. Kitts-Nevis government remains concerned that it could come out worse off if it starts to implement
duty free access for European goods coming into the federation and it is seeking an extension in
implementing certain measures under the Economic Partnership Agreement (EPA) that it and other
Caribbean Forum (CARIFORUM) countries signed with Europe in 2008.
http://www.caribbean360.com/index.php/business/619417.html#ixzz27hQBp8m7
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
Regional
(NB. Watch the Caribbean Media Corporation (CMC) News Brief via this link)
(NB. Also listen to BBC Caribbean Report via this link)
All eyes on CCJ, says EU trade law expert
European Union law and international trade law expert, Prof Armand de Mestral, says the Caribbean Court
of Justice (CCJ) is a remarkable Caricom creation that has the potential for helping regional states promote
further integration. He was speaking in an interview with the T&T Guardian during the afternoon break at the
second Caribbean Academy for Law and Court Administration (CALCA) seminar on International Law–
World Trade Organisation law and policy interface with CARIFORUM-EC Economic Partnership Agreement
and the Caricom Single Market Economy, at the Hyatt Regency, Port-of-Spain, on Wednesday. Among the
participants were judges, attorneys, law students, lecturers and economists. “It’s possible that there may be
room for some overlap and some possible legal conflict between the WTO and the special rights maybe
given in the economic partnership which of course exists over and above and in conjuction with Caricom,”
the McGill University law professor said.
http://www.guardian.co.tt/news/2012-09-27/all-eyes-ccj-says-eu-trade-law-expert
Other Caricom members can also join Shanique Myrie case
The Barbados Government has lost another round in the fight against the lawsuit filed by Jamaican
Shanique Myrie. Despite objections from Barbados, the Caribbean Court of Justice (CCJ) has not only given
the Jamaica government the go-ahead to join in Myrie’s suit, but has now opened the door for other
CARICOM member states to get involved as well.
http://www.stabroeknews.com/2012/news/breaking-news/09/28/other-caricom-members-can-alsojoin-shanique-myrie-case/
Jamaica Seeks Fair Deal In Shared Caribbean Economic Plan
It’s understood that regional economic integration means that there will be an unequal distribution of
benefits, with a disproportionate share accruing to the more developed countries. It’s likewise considered a
given that the system would then arrange for a transfer of funds to the less developed countries to
compensate for the discrepancy. The European Union is the prototype of this model, and its glowing results
speak volumes to the system’s potential. The transfer of resources to the less developed members not only
played significant roles in the economic growth and development of Europe’s lesser developed nations such
as Ireland and Portugal, but also helped create a sense of community that has well served all of Europe.
http://atlantablackstar.com/2012/09/27/jamaica-seeks-fair-deal-in-shared-caribbean-economic-plan/
World
UN economic office warns on South America’s export trade vulnerability
Foreign trade in Latin America and the Caribbean will suffer from the economic slowdown that started in the
second half of 2011. The value of regional exports will increase by 4% in 2012, whereas imports will grow
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
3% - according to estimates presented in the new Economic Commission for Latin America study released
on Thursday.
http://en.mercopress.com/2012/09/28/un-economic-office-warns-on-south-america-s-export-tradevulnerability
EU Seeks Protection from Emerging Economies
For many years, the European Union (EU) and its individual member states counted among the strongest
advocates for free trade, arguing that it would boost economic growth and welfare both at home and abroad.
But since the global financial crisis in 2007 triggered a severe sovereign debt crisis and a general economic
downturn across most European countries, EU institutions, individual governments and representatives of
some industrial sectors are calling for protectionist measures, especially against competitors from strong
emerging countries such as Brazil, India, the People’s Republic of China, and South Korea.
http://www.ipsnews.net/2012/09/eu-seeks-protection-from-emerging-economies/
Free trade deals will fail to address distortions to Canada's economy if currency intervention
policies are overlooked in negotiations:CIBC
Global trade may be anything but free if Canada's trade agreements focus solely on eliminating tariff and
regulatory barriers, and not on currency intervention policies abroad that are driving the country's trade and
monetary imbalances, notes a new report from CIBC World Markets Inc. "Trade may be liberalized, but are
the exchange rates that set relative prices and costs also going to have their shackles removed? If not the
free market will be anything but free," says Chief Economist at CIBC, who co-authored the report with
Economist Emanuella Enenajor. Several of Canada's trading partners have been intervening to keep their
currencies softer than markets would otherwise take them, giving them cost advantages in both Canadian
markets and in competition for share of the U.S. market, notes Mr. Shenfeld. That practice has been
particularly prevalent in emerging markets. In the process of selling their own currencies, emerging market
central banks have built up reserves that in many cases exceed 30 per cent of GDP.
http://www.southasianobserver.com/topstories.php?cid=649
Other
Protect Barbadians interest if casino gambling is allowed, says Malaysian envoy
Casino gambling has the ability to reap benefits for Barbados. However, the government has been advised
to protect Barbadians' interest if it decides to go ahead and allow this attraction on cruise ships, which may
dock in the island's port. This suggestion has come from High Commissioner of Malaysia, Mahinder Singh,
during a recent courtesy call with the Acting Minister of Foreign Affairs and Foreign Trade, Steve Blackett.
http://www.caribbeannewsnow.com/topstory-Protect-Barbadians-interest-if-casino-gambling-isallowed%2C-says-Malaysian-envoy-12792.html
More Barbadians looking towards self-employment
The Barbados Small Business Association (SBA) has lauded an increase in small business start-ups and
the level of diversity in business operations taking place in Barbados. This sentiment has also been
expressed by one of Barbados’ more popular banks.During the launch of the SBA’s annual week of
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
activities, the association’s President Celeste Foster admitted that the past year has been one of “trial and
triumph” for the SMEs.
http://www.barbadosadvocate.com/newsitem.asp?more=business&NewsID=27066
Haiti sitting on potential US$20b mineral wealth
Haiti's government hopes to introduce a new mining law within six months that could set royalty rates of up
to 12 per cent to ensure that the impoverished country benefits from its mineral wealth, potentially worth
US$20 billion, the prime minister said Wednesday. Haiti is seeking to update its nearly 40-year-old mining
laws in an effort to reap benefits from the little-known industry.
http://jamaica-gleaner.com/gleaner/20120928/business/business96.html
Green Energy and Jamaican Tourism
Innovation in the management of energy could provide a boost to Jamaica’s tourism sector, Minister Dr
Wykeham McNeill said this week. With an increasingly high cost of energy, Jamaica’s tourism sector must
develop a “sustainable” framework, he said. “Energy efficiency is, simply put, finding ways to provide the
energy services in the various spaces in which we operate, at a decreased cost,” he said. “So, we have to
be innovative and forward-thinking in our efforts to implement energy-efficiency measures and sustainable
solutions.”
http://www.caribjournal.com/2012/09/28/green-energy-and-jamaican-tourism/
Interview with Barbados Minister of Tourism Richard Sealy
The Caribbean tourism sector is in a period of change, as the region seeks to emerge from the global
downturn. As Caribbean nations like Barbados look to move beyond the traditional “sun, sand and sea”
attraction, they are increasingly moving to diversify their tourism product — from areas like medical tourism
to events-based product. And with continued financial uncertainty in some of the Caribbean’s feeder
markets like the United States and Europe, the region is starting to look at new markets — from emerging
power Brazil to the Far East. To learn more about how Barbados is working to move its tourism sector into
the future, Caribbean Journal talked to Tourism Minister Richard Sealy about the promise of events tourism,
the potential of Latin America and the Chinese question.
http://www.caribjournal.com/2012/09/28/interview-with-barbados-minister-of-tourism-richard-sealy/
Ratings downgrade prompts Bahamas to announce new stimulus
Tax reforms, a mortgage relief programme, and incentives to drive more foreign direct investment are
among the new measures that the Bahamas government hopes will jump-start the slowing economy. These
measures among others were outlined in a statement issued Tuesday (September 25) by the Ministry of
Finance following the announcement issued by Standard & Poor’s (S&P) the same day that it was revising
downward its outlook on Bahamas long-term rating from “stable” to “negative”. However, the US ratings
agency maintained its sovereign credit rating for The Bahamas at ‘BBB/A-2’
http://www.caribbean360.com/index.php/business/619418.html#ixzz27mlcT3xb
T&T economy stagnant or in decline (with CNC3 video)
When former Finance Minister, Winston Dookeran, delivered the 2012 budget on October 10 last year, he
estimated that the local economy would grow by the modest rate of 1.7 per cent in the period between
October 1, 2011 and Sunday, the end of the fiscal year. It’s almost certain that when the final numbers on
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
the 2012 fiscal year are tallied up, that the actual growth rate would be well short of that... The Trinidad and
Tobago economy is likely to be either stagnant or in decline.
http://www.guardian.co.tt/business/2012-09-27/tt-economy-stagnant-or-decline-cnc3-video
Poor innovation ranking dims the lights on Canada's competitiveness and prosperity
Canada's sliding global competitiveness ranking is due to its weak innovation performance, according to a
Conference Board of Canada analysis of World Economic Forum's Global Competitiveness Index 2012-13.
Overall, Canada's ranking declined to 14th place in 2012 - from 12th place in 2011 and 10th place in 2010.
But in the sub-area of innovation and business sophistication factors, Canada fell six places from 15th to
21st - no other top-ranked country dropped nearly as much…"Canada's declining overall ranking is
indicative of the country's competitiveness malaise," said Douglas Watt, Director, Organizational
Effectiveness and Learning. "This decline raises concerns about the country's ability to leverage its relatively
strong socio-economic footings for competitive advantage. Some of our top competitors are increasing their
competitiveness, so Canada must improve just to keep pace. If we don't do something, Canada's future
prosperity is in jeopardy. "Fourteenth place out of 144 countries is good—but 'good' really isn't good enough
anymore. Future national competitiveness—the underpinning of social and economic prosperity—requires
that our competitive advantage shift to the production of more value-added goods and services. The key is
to pursue new opportunities and enter new markets in order to move away from being excavators of
minerals, hewers of wood, movers of bitumen, and wardens of water."
http://www.sacbee.com/2012/09/27/4860268/poor-innovation-ranking-dims-the.html#storylink=cpy
US manufacturers struggling
A spate of data painted a mixed picture of the US economy yesterday. Demand for long-lasting
manufactured goods fell and slightly fewer people signed contracts to buy homes. At the same time, the job
market looked a little better. Taken together, the reports suggest the economy is growing only modestly and
not quickly enough to spur much hiring.
http://www.jamaicaobserver.com/business/US-manufacturers-struggling_12638706#ixzz27mnHxKu3
Spain remains Cuba’s largest European source of foreign direct investment
Business people from Cuba and Spain are meeting in Havana today to assess new business projects that
could increase investment flows between the two Spanish-speaking nations. Official sources report that, in
2011, Spain was among the main trading partners of Cuba, after Venezuela and China.
http://www.caribbean360.com/index.php/business/619419.html#ixzz27mlJuyB6
Argentina will adopt tough measures to guard nine years of economic achievements
Argentina has “stronger financial support than other countries” and will adopt tough policies to guard the
nine years of economic achievements, said Economy Deputy Finance Minister Axel Kicillof addressing the
Lower House Budget and Finance Committee to discuss the main guidelines for next year’s budget.
However despite having stressed Argentina’s resilience to the international economic crisis Kiciloff made an
appeal for the Congress “to take into consideration the seriousness of the world crisis situation”.
http://en.mercopress.com/2012/09/28/argentina-will-adopt-tough-measures-to-guard-nine-years-ofeconomic-achievements
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
Intellectual Property Policy Incoherence at the African Union Threatens Access to Medicines
In a stunning development, following an obscure vote of Heads of State at the Africa Union in 2007
(Assembly Council/AU/Dec. 138(VIII)), the AU Scientific, Technical, and Research Commission has
proposed a draft statute to establish the Pan-Africa Intellectual Property Organization (PAIPO). This
proposed legislation will be presented to a meeting of the African Ministers in charge of Science and
Technology on 6-12 November 2012 in the Democratic Republic of Congo.The statute, drafted by true
believers of IP-maximalist ideology, proposes to establish a region-wide intellectual property organization
with the sole agenda of expanding IP rights, strengthening enforcement, harmonizing regional legislation,
and eventually facilitating the granting of IP monopolies by a central granting authority that may well be
legally binding on Member States.
http://infojustice.org/archives/27392
Quick Media Links
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Antigua & Barbuda
Antigua & Barbuda Government Portal http://www.ab.gov.ag/gov_v3/index.php
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The Bahamas
Broadcasting Corporation of the Bahamas http://www.znsbahamas.com
The Government of the Bahamas http://www.bahamas.gov.bs/bahamasweb2/home.nsf
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Barbados
Caribbean Broadcasting Corporation http://www.cbc.bb/
Barbados Government Information Service http://www.gisbarbados.gov.bb/
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Belize
Belize News http://belizenews.com/
Government of Belize Portal http://www.belize.gov.bz/
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Cuba
Granma (Official News) http://www.granma.cu
Cuban News Agency http://www.ain.cubaweb.cu
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Dominica
Dominica News http://www.dominicanewsonline.com/
Dominica Government http://www.dominica.gov.dm/cms/
Dominica GIS http://www.gis.dominica.gov.dm/index.php
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Dominican Republic
Dominica Today http://www.dominicantoday.com/
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Grenada
Grenada Government Portal http://www.gov.gd/
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Guyana
GINA – Guyana Government Information Agency http://www.gina.gov.gy
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Haiti
News Haiti http://www.newshaiti.com
Haitian Times http://www.haitiantimes.com/
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Jamaica
Jamaica Information Service http://www.jis.gov.jm
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St. Kitts & Nevis
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org
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St. Kitts/ Nevis News http://www.sknvibes.com/News
St. Kitts & Nevis CUOPM http://www.cuopm.com/
St. Kitts & Nevis ZIZ http://www.zizonline.com/
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St. Lucia
Helen Television Services (HTS) http://www.htsstlucia.com
Radio St. Lucia (RSL) http://www.rslonline.com
St. Lucia Government Information Service http://www.stlucia.gov.lc/
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St. Vincent & the Grenadines
National Broadcasting Corporation http://www.nbcsvg.com
St Vincent Today http://svgtoday.com/
Government of St. Vincent & the Grenadines GIS http://www.gov.vc/
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Suriname
Surinamese Televise Stichting http://www.strs.info.sr
ATV TeleSur http://www.sr.net
Suriname News http://www.topix.net/world/suriname/
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Trinidad & Tobago
Trinidad & Tobago Official News http://www.news.gov.tt/
NOTE: The opinions and articles mentioned do not necessarily reflect the views of The Office of Trade
Negotiations (OTN), or the Caribbean Community (CARICOM) Secretariat.
http://www.crnm.org