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OFFICE OF TRADE NEGOTIATIONS
DAILY DIGEST
2014 September 9th
WTO Arena
India urges FAO to lead in protecting poor, farmers at WTO
Closely following India's decision not to ratify the WTO's Trade Facilitation Agreement (TFA) on the issue of food
security, Prime Minister Narendra Modi Tuesday urged the Food and Agriculture Organisation (FAO) to take the lead
in protecting interests of the poor and farmers at the World Trade Organisation. Describing FAO Director General
Jose Graziano da Silva, who called on him Tuesday, as one of the champions of the "No Hunger Project" in Brazil,
Modi said: "India does not stand in the way of a rule-based global trade agreement, but the country cannot sacrifice
the interests and food security of the poor and the farmers."
http://www.business-standard.com/article/news-ians/india-urges-fao-to-lead-in-protecting-poor-farmers-atwto-114090900781_1.html
China’s Antitrust Campaign Seen as Possible Breach of W.T.O. Rules
A United States business group said on Monday that China’s recent aggressive enforcement of its antimonopoly law
could be a violation of its trade agreements, a claim that potentially raises the stakes in a recent pushback among
foreign companies that say they are being discriminated against in China.
http://www.nytimes.com/2014/09/09/business/international/us-group-says-china-could-be-violating-tradeaccords.html
CARICOM-CANADA
MERCOSUR
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EU/ ACP
Jamaicans not up to speed on EPA
JESUS ORUS Baguena, head of the European Union (EU) delegation to Jamaica is not convinced that policymakers
and the private sector are up to speed on the full range of merits to be derived from the Economic Partnership
Agreement (EPA), a landmark agreement. Signed in December 2008, the CARIFORUM-EU EPA was the first such
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agreement to be signed between Europe, and one of the six signed with sub-regions of the African, Caribbean and
Pacific (ACP) group. Some 27 European Union member states and 14 CARIFORUM states (except Haiti) were
signatories to the document which replaced the Cotonou Agreement of 2000, in which the EU unilaterally granted
ACP countries non-reciprocal market access to Europe on more favourable terms than those enjoyed by goods from
other countries.
http://jamaicagleaner.com/gleaner/20140716/news/news4.html?utm_source=rss&utm_medium=rss&utm_campaign=jamaic
ans-not-up-to-speed-on-epa
How to make the EU-West Africa trade partnership work
The European Union was finally able to finalize last week a long-negotiated economic partnership agreement with
West Africa, which promises more job opportunities and sustainable economic growth for the region. However, trade
experts argue it may be too early to celebrate. The EPA deal would allow both regions to fully open its markets to
both parties, although under the negotiated terms, West African nations are given the flexibility to fully open their
market when they deem they are ready. They are also allowed to keep tariffs or put in place safeguard measures on
several "sensitive" agricultural products. The EU has agreed to a "partial and gradual opening of the West African
market" and "not to subsidize any of its agricultural exports to West Africa."
https://www.devex.com/news/how-to-make-the-eu-west-africa-trade-partnership-work-83895
Fiji did no back flip over EPA with EU, says Trade Secretary
Fiji is only provisionally applying an interim EPA with the European Union, says Fiji's Permanent Secretary for Trade
& Industry Shaheen Ali. In so doing, Fiji has not back flipped nor has it agreed to ratify the interim Economic
Partnership Agreement with the Europeans. He said contrary to what Islands Business had reported, Fiji has not
agreed to ratify the interim EPA, because ratification can only be done by parliaments. In Fiji's case, it has agreed to
provisionally apply the interim EPA subject to ratification by the Fijian Parliament, when it convenes after the
September 17 elections.
http://www.islandsbusiness.com/news/fiji/5722/fiji-did-no-back-flip-over-epa-with-eu-says-trade-/
Regional
(NB. Watch the Caribbean Media Corporation (CMC) News Brief via this link)
World
A New Trans-American Partnership
But much more could be done – especially on trade policy – to deepen US-Latin American economic relations. Since
the breakdown of the Doha Round of global trade talks, the US has been involved in two major international trade
negotiations. Both proposed FTAs – the Trans-Pacific Partnership (TPP), mainly a US-Asia initiative, and the
Transatlantic Trade and Investment Partnership (TTIP), a largely US-Europe project – are far-reaching agreements.
They aim to restore momentum toward an open global trade regime, including progress on contentious issues like
trade in services, intellectual property rights, government procurement, and the harmonization of safety, health, and
technical standards. Their participants account for 60% of world GDP. However, they do not reach all places. Though
Chile, Peru, and Mexico have also signed up to the TPP – and other Latin American countries are welcome to join it
– the region’s involvement is marginal. If that is to change, the region will need to rediscover the spirit of the 1994
Summit of the Americas, where US President Bill Clinton and his Latin American counterparts set out a grand vision
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for the hemisphere. Their idea was to create a Free Trade Area of the Americas (FTAA), which would allow goods,
capital, and people to move freely anywhere between Alaska and Tierra del Fuego.
http://www.project-syndicate.org/commentary/ernesto-talvi-calls-for-renewed-cooperation--beginning-withtrade--between-north-and-south-america#sDjF4O8sDd8Lj38T.99
EU trade deal likely to see dissent, John Baird says
Not all Canadians will like Canada’s new trade deal with the European Union, but the pact will help ensure the
country’s future prosperity, Foreign Affairs Minister John Baird says. “There’s rarely unanimity on things of great
consequence,” Baird said. Canada and the European Union are expected later this month to finalize the text of the
free trade deal, known as the comprehensive economic and trade agreement.
http://www.thestar.com/news/canada/2014/09/08/eu_trade_deal_likely_to_see_dissent_john_baird_says.html
US-EAC trade pact: Players fear East Africa could get raw deal
With the East African Community under pressure to sign the Economic Partnership agreement with Europe, pressure
is emerging from elsewhere. The US is also pursuing its own trade pact with EAC. Civil society however warn that
there are some clauses in the US pact that will work against EAC for instance unlimited right of profit repatriation by
American companies investing in the region.
http://www.bilaterals.org/?us-eac-trade-pact-players-fear
Other
T&T Port Called "Energy Hub" for Region
A new Trinidad and Tobago port is designed as an "energy hub" for the southern basin region, including Venezuela
and Guyana, Trinidad and Tobago Newsday reports. Port Galeota in Guayaguyare, Trinidad and Tobago, officially
opened Friday. "Port of Galeota has the potential for expansion of trade between Trinidad and Tobago and South
America and the wider Caribbean, which can facilitate the development of the energy services sector," said Minister
of Energy Kevin Ramnarine, speaking on behalf of Prime Minister Kamla Persad-Bissessar.
http://shipandbunker.com/news/am/705145-tt-port-called-energy-hub-for-region
Better business facilitation needed
CHARTERTED ACCOUNTANT, Andrew Brathwaite believes that one of the key factors that allows for investor
confidence is business facilitation. Brathwaite who is also a past President of the Institute of Chartered Accountants
of Barbados (ICAB) made his thoughts known on business confidence which is said to be holding up Barbados’
progress in light of poor business facilitation. Drawing attention to a recent World Bank Report on the Ease of Doing
Business, Brathwaite said that Barbados ranked eighth out of 13 countries in the Caribbean and 51st out of 56 High
Income countries. “So if we are saying we are a high income country we are in the big league, then business
facilitation has to match that,” he said during a discussion on the Barbados economy.
http://www.barbadosadvocate.com/newsitem.asp?more=business&NewsID=38675
IMF calls for more forex flexibility
The International Monetary Fund (IMF) has recommended that the Central Bank deal with recurring foreign exchange
shortages in the country by adding more flexibility to the system. In its latest country report on T&T, the IMF said
while there is “no concrete evidence of either a parallel market or arrears on foreign exchange”, the Central Bank
recently had to see foreign exchange to clear the market. It said a recurrence of the shortages, which impose
unnecessary economic costs, “could indicate the existence of an exchange restriction.”
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http://www.guardian.co.tt/business/2014-09-08/imf-calls-more-forex-flexibility
Antigua, Dominican Republic Hold Talks
Antigua and Barbuda Tourism Minister Asot MIchael met Monday with the Dominican Republic’s Deputy Foreign
Minister, Jose Manuel Trullos, to discuss the two countries’ bilateral relations. The two sides discussed projects in
areas including security, agriculture, tourism, sports and education, according to a government statement. Michael is
visiting the Dominican Republic this week to attend an investment forum in Santo Domingo. Michael also met with
Miguel Mejia, the Dominican Republic’s Minister for Regional Integration, discussing different projects in development
and the Dominican Republic’s relations with CARICOM.
http://www.caribjournal.com/2014/09/09/antigua-dominican-republic-hold-talks/
USVI to receive $165 million for FY 2015 rum cover-over revenue
On Friday, Governor John de Jongh received notification from the Office of Insular Areas of the Department of the
Interior that the government of the US Virgin Islands would shortly receive $165 million for estimated rum excise tax
cover-over for fiscal year 2015. The payment was approved by interior assistant secretary for insular areas Esther
Kia'aina, based on the governor's submittal that 2015 excise tax collections would amount to approximately $166.95
million. A previous advance over-payment of $1.7 million made to the government in fiscal year 2014 was deducted
from the 2015 estimate…These funds are also budgeted to provide funding for the operations of the Virgin Islands
Public Finance Authority, as well contributions to the St Croix Capital Improvement Fund and the Crisis Intervention
Fund, and to support to the rum producer partners that enables them to continue their production of US Virgin Islands
rum.
http://www.caribbeannewsnow.com/topstory-USVI-to-receive-%24165-million-for-FY-2015-rum-cover-overrevenue-22717.html
Dookeran: Small size an opportunity, not a limitation
At the recent United Nations (UN) Small Island Developing States (SIDS) conference in Samoa, Oceania, Minister of
Foreign Affairs Winston Dookeran noted that conflicting interests make it difficult to work together in the theme of
SIDS. He suggested looking to systemic problems that create the conditions in which we live, and whether Caribbean
vulnerability comes from size, geography or structure. In release from the UN Economic Commission for Latin
America and the Caribbean (Eclac), Dookeran said buffers to external shocks should be built by working together
with development partners and international financial institutions. “Size may well be an opportunity rather than a
limitation,” he said.
http://www.guardian.co.tt/business/2014-09-09/dookeran-small-size-opportunity-not-limitation
Japan's economy contracted 1.8% in second quarter; fall blamed on consumer sales tax
Japan's economy shrank 1.8% in the April-to-June period, worse than forecast and raising more questions about the
government's economic policy. The official data confirmed that the world's third largest economy suffered its sharpest
quarterly contraction since the 2011 earthquake disaster. On an annualized basis it would mean gross domestic
product (GDP) fell 7.1%. The fall was blamed in part on a consumer sales tax introduced in April, with another rise
planned for 2015. The release of Monday's revised official data follows publication of initial GDP estimates that put
the second quarter contraction at 1.7%, with the annualized rate at 6.8%. In the first quarter of 2014, the economy
grew by 1.5%. The single biggest factor behind the contraction in the second quarter is thought to be a rise in the
nation's sales tax in April, to 8% from 5%.
http://en.mercopress.com/2014/09/09/japan-s-economy-contracted-1.8-in-second-quarter-fall-blamed-onconsumer-sales-tax
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China exports up 9.4% in August over a year ago, but imports were down 2.4%
China's latest export numbers rose by 9.4% in August from a year earlier, beating forecasts of about 8% growth. The
official data showed imports dropped by 2.4% from the year before, though, which left the country with a record
surplus of 49.8bn dollars. The unexpected dip in imports was seen by economists as a sign of ongoing weak
domestic demand on the mainland. There was particular weakness seen in corporate investment and real estate for
the period. And while the rise in exports was more than expected, it compares with a rise of 14.5% in July.
http://en.mercopress.com/2014/09/09/china-exports-up-9.4-in-august-over-a-year-ago-but-imports-weredown-2.4
East Africa: Intra-EAC Trade Soars With Customs Union Treaty
IMPLEMENTATION of the Customs Union treaty has registered a positive impact on intra-East African Community
(EAC) Trade, seeing it grow from $2 billion in 2005 to $ 5.5 billion in 2013. This is a growth of 36.36 per cent,
expected to further grow significantly, according to the Deputy Minister for East African Co-operation, Dr Abdallah
Saadala. The same growth has also been coupled with the reduction of documentation at the ports in the region
including Dar es Salaam and Mombasa by over 90 per cent since goods are declared once and released from the
first point entry.
http://allafrica.com/stories/201409090350.html
Remove trade barriers in West Africa – Togbe Afede
Togbe Afede XIV, Agbogbomefia of the Asogli State has said Africa could remain underdeveloped until the physical
borders between nations and other ‘unfriendly trade policies’ were removed. He, therefore, called for the urgent
removal of the trade barriers that were inhibiting free trade among West African states, who, he said, were
traditionally farmers and traders before colonisation.
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=324955
US Senator John McCain calls for US-India FTA
India and the US should start negotiating on a free trade agreement to achieve full potential of the bilateral ties, a top
Republican senator today said. "Our governments are currently negotiating a Bilateral Investment Treaty, which is
worthwhile. But why not aim instead for a Free Trade Agreement?," said Senator John McCain. "India and the United
States have, or are negotiating, FTAs with every other major global trading partner, so we are on course to
discriminate only against one another. How does that make sense?," he wondered.
http://www.bilaterals.org/?us-senator-john-mccain-calls-for
Mexican FM pledges stronger ties with Cuba
Visiting Mexican Foreign Minister Jose Antonio Meade pledged Monday to bolster ties with Cuba. Addressing
students at Havana's Higher Institute of International Relations, Meade said the bilateral relationship between the two
countries witnessed fruitful results and laid a basis for new ventures. "Mexico wants more trade with and investment
in Cuba, and that moves us to pay close attention to the process of modernization" in the country, he said.
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=240079
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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
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
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Suriname News http://www.topix.net/world/suriname/
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Trinidad & Tobago
Trinidad & Tobago Official News http://www.news.gov.tt/
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