SRC Trading Thoughts
The SRC Trading Thoughts Column is a bimonthly issue produced at the SRC in which we, or contributing authors, provide critical views and thoughts on issues of ongoing interest in trade and investment, with a particular focus on the Caribbean.
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Publications
Paving the Way for Deeper Africa-Caribbean Research Collaboration
On October 29-30, 2024, I had the honour of representing the Shridath Ramphal Centre for International Trade Law, Policy and Services (SRC) of The University of the West Indies (The UWI) at REPOA’s 28th Annual Research Workshop in Arusha, Tanzania. With the imposing Mount Meru as its backdrop, this beautiful East African…
Implementing Brazil’s G20 Trade Agenda: A Catalyst for Inclusive and Sustainable Growth
Brazil’s Presidency of the Group of 20 (G20), held under the theme “Building a Just World and Sustainable Planet,” comes to an end in December 2024. The G20 is a coalition of the world’s largest economies that discusses and coordinates global economic policy, and which recently admitted the African Union as a member. Less known
Funding Climate Related Loss and Damage
We finally have a Fund for Responding to Climate-related Loss and Damage. Now, we must scale it up. Climate-related loss and damage are over $100bn per year and rising. Passing around a hat every few years will not get us there.
Even more enormous financing demands exist for building climate resilience and mitigating…
The IMO’s Revised GHG Strategy – What is Happening and Why Should Caribbean States Care?
The Caribbean’s maritime lifeline is under threat. As global efforts to reduce greenhouse gas (GHG) emissions intensify, the International Maritime Organization (IMO) is at the forefront of creating new strategies that could reshape the future of international shipping. For the Caribbean—a region where shipping is not just a means of transport but a…
Glimpses of the Remarkable Trade Life of Sir Shridath Ramphal
News of the passing of Sir Shridath last week continues to reverberate through the highest echelons of diplomatic and political spheres across the Caribbean and world. For his impressive career, he was fittingly dubbed the ‘Statesman of the West Indies,’ a title reflecting his emergence during the rise of newly independent British…
History Provides the Gift of Foresight
As a teenager I had the pleasure of spending several summers as a Junior Curator (JC) at the Barbados Museum and Historical Society. As a JC, I assisted with the installation of exhibits, tours of the Museum, local data collection for research projects, and spent countless hours in the Shilstone Memorial…
MITP Study Tour ‘24
On June 6, 2024, I was part of Cohort 21 from the University of the West Indies (UWI) Master of Sciences Programme in International Trade Policy (MITP), which embarked on the annual 2-week study tour to Geneva, Switzerland. Every year, this tour marks the culmination of a rigorous multidisciplinary programme in trade…
The Inaugural Gender Equality Forum: A Landmark Event at SIDS4
The inaugural Gender Equality Forum (GEF) held on May 25-26 in Antigua and Barbuda was a monumental event organized by the UN Women Multi-country Office (Caribbean) and the Caribbean Development Bank as a prelude to the SIDS4 Conference. It brought together women and men representing each region of Small Island…
Global Supply Chain Forum: My Reflections as a Trade Specialist
This past week, I had the privilege of attending the inaugural Global Supply Chain Forum (GSCF) jointly hosted by the Government of Barbados and United Nations Trade and Development (UNCTAD) in Bridgetown, Barbados, from May 21-24, 2024. As an international trade specialist and researcher at the Shridath Ramphal Centre for International Trade…
Enhancing Trade Training in CARICOM as an Imperative for Sustainable Development
As global trade complexities surge in response to sustainability challenges like climate change, economic disparities, and the pressing need for resilient value chains, Caribbean nations find themselves at a crucial juncture to reassess and refine their trade policies. This SRC Trading Thoughts delves into the strategic necessity of bolstering trade…
Leveraging Trade Opportunities Between Dominica and Ghana Through Culture and Heritage
In January 2024, the Prime Minister of Dominica, Roosevelt Skerrit, went on a diplomatic mission to Ghana to explore areas of cooperation with that country’s Vice President, Dr. Mahamudu Bawumia. This visit builds upon existing relations between the two states, demonstrated by the signing…
Integrating Trade Facilitation into Climate Strategies
In the face of an escalating global climate disaster, global supply chains play a critical role, accounting for more than 60 percent of overall greenhouse gas (GHG) emissions from international trade in fossil fuels. As climate change threatens to disrupt these supply chains and negatively impact international commerce—including increasing trade costs—the need…
WTO MC13: Investment Facilitation for Development Agreement
The World Trade Organization’s (WTO) upcoming 13th Ministerial Conference (MC13), takes place from February 26-29, 2024 in Abu Dhabi, United Arab Emirates (UAE), against the backdrop of a shifting global trade landscape marked by rising protectionism and geopolitical tensions, economic uncertainty and shipping route disruptions. Amid these challenges…
WTO Reform at WTO MC13: A Catalyst for Transformative Change in CARICOM
As the 13th WTO Ministerial Conference (MC13) approaches, its once lackluster agenda has been infused with new life. This biennial assembly of the highest body of WTO Members, convening from 26-29 February in Abu Dhabi, now promises to tackle critical decision-making areas for global Ministers of Trade. Topics range from fisheries…
Will 2024 be a Pivotal Year for US-Caribbean Economic Relations?
It is the start of a new year; one filled with promise coupled with uncertainty amidst a growing climate crisis, a forecasted deceleration in global growth and escalating geopolitical tensions and instability in several parts of the world…
A Tradee at COP28: My Impressions of the UNFCCC Climate Change Negotiations
The Dubai team preparing for 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC) promised that it would “Unite. Act. Deliver.” when the world met in December 2023 to take forward climate action. And although some – including our small island developing states – might have wished for…
Opportunities for Economic Growth and Development Presented by the Afreximbank-CARICOM Partnership
From 30-31 October 2023, Heads of Governments, delegates, private sector representatives, and other key stakeholders from Africa and the Caribbean gathered in Georgetown, Guyana for the second annual AfriCaribbean Trade and Investment Forum (ACTIF) organized by the African Export-Import Bank (Afreximbank). Building on the success of the first ACTIF, held in September…
A SIDS Perspective on Balancing Ocean Health and Wealth with Global Trade
As one of Earth’s most valuable natural resources, the ocean – which covers 70 percent of the planet, absorbs 90 percent of heat from global warming, sequesters 30 percent of carbon dioxide released, and produces over 50 percent of the oxygen that we breathe – holds a…
Outcomes from the 2023 WTO Public Forum
On its website, the World Trade Organization (WTO) describes its annual as its largest outreach event, designed to provide a platform to discuss the latest developments in global trade and propose ways to enhance the multilateral trading system. As indicated by the theme “It Is Time for Action”, this year’s Public Forum…
My MITP Study Tour Experience
My biggest self-improvement decision to date was applying for the Masters in International Trade Policy (MITP) Programme at the Cave Hill Campus, University of the West Indies’ Shridath Ramphal Centre for International Trade Law, Policy, and Services (SRC)..
Could trade help to achieve the 2023 Bridgetown Declaration on NCDs and Mental Health?
Ministers, as well as delegates from partner organizations, gathered in Barbados on June 14-16, 2023 for the Small Island Developing States (SIDS) Ministerial Conference on Non-Communicable Diseases (NCDs) and Mental Health. The conference was a collaboration by the Government of Barbados, the World Health Organization (WHO) and the Pan-American Health Organization (PAHO)…
It’s Time To Overcome The Borders And Boundaries Creating Barriers
In a region with 15 full member states, the Caribbean Community (CARICOM) is comprised of numerous borders ranging from 10 land borders and 37 maritime boundaries. Simply put, a border is a ‘real or an artificial line that separates geographic areas.’ According to the National Geographic, borders are ‘political boundaries’ known…
Applying Climate Commitments To Trade Between CARICOM and Canada
At the CARICOM Heads of Government Conference held in February 2023, regional leaders received the Prime Minister of Canada, The Right Honourable Justin Trudeau, PC, MP. The engagement between the Canadian and CARICOM leadership focused on “charting new strategic partnerships, built on modern realities, including the diversification of the economic relationships and addressing climate change…
Uncovering a Sustainable Digital Trade Pathway for the Caribbean
As a co-lead of the Remaking the Global Trading System for a Sustainable Future Project (The Remaking Trade Project), I had the privilege last month to take our “trade and sustainability” crusade to New Delhi, India, and the Villars, Switzerland. The Remaking Trade Project is an attempt by…
Interning with the African Export-Import Bank in Cairo, Egypt
As a Barbadian national, interning at the African Export-Import Bank (Afreximbank) in Cairo Egypt following the completion of my Master’s in International Trade Policy at the University of the West Indies was undoubtedly, a career defining experience. This once in a lifetime opportunity allowed me to travel and experience the histories and cultures of a number of African countries…
SRC Women’s In Trade Awardee Amb. Gail Mathurin
The SRC hosted its 2nd Annual International Women's Day Lunchtime Chat on March 3rd, 2023 in early commemoration of International Women's Day (March 8). Moderated by our Director Dr. Jan Yves Remy, the esteemed panelists were Ms. Kim Butcher (CEO, OkoyebyKim), Dr. Sylvia Dohnert (Executive Director, Compete Caribbean), Ms. Gayle Gollop (National Private Sector Specialist…
Industrial Policy and Post-COVID19 Economic Transformation in CARICOM
Writing in an SRC Trading Thoughts back in May 2020, the author Joel K. Richards presciently posited that the COVID-19 pandemic, which was then still in its early days, provided the Caribbean Community (CARICOM) with the opportune time to ‘reclaim’ industrial policy. Fast forward three years later, CARICOM appears to be making concrete steps to formulate the community industrial…
Boosting CARIFORUM’s Trade Capacity Through Skills Training and Investment
When seeking to boost trade capacity, national and regional investment in skills and education is not always front of mind. However, the International Labour Organisation emphasizes the importance of skills investment for inclusive trade, noting that open economies…
Why the Bridgetown Initiative on Climate Finance is Good For Trade
It was not so long ago, in March 2022, that Prime Minister Mia Amor Mottley of Barbados went to the World Trade Organization (WTO) in Geneva seeking concrete answers on how the WTO was helping developing countries with one of their most pressing needs – financing their climate adaptation and…
Pound Volatility’s Implications for Caribbean Tourism and Trade
Winter is coming! And not in the Game of Thrones sense. The big news in currency markets on Monday, September 26, 2022 was the British pound (GBP)’s record slump against the United States dollar (USD). It seems unfathomable now that years ago one UK pound was worth some 2 USD. Then early…
When The Dust Settles From The Afri-Caribbean Trade Forum (2022), What’s Next?
When the curtain fell last week on the inaugural Afri-Caribbean Trade and Investment Forum (ACTIF) 2022 hosted jointly by the Afri-Eximbank and the Government of Barbados, spirits were riding high. The three-day conference held in Barbados under the theme “One People. One Destiny. Uniting and Reimagining Our Future”, was hailed…
The Importance of the WTO
Pursuing the Masters in International Trade Policy offered by the Shridath Ramphal Centre for International Trade Law, Policy and Services at the University of the West Indies Cave Hill Campus was definitely a great idea, and certainly one of my best life decisions to date. However, adding the study tour to Geneva…
WTO MC 12 Outcomes: What do they mean for the Caribbean?
Much of the trade policy world released a collective sigh of relief when on June 17 it was announced that ministers and delegates at the World Trade Organisation (WTO)’s Twelfth Ministerial Conference (MC12) had reached an agreement. MC12 had been postponed for two years due to the on-going COVID-19 pandemic. Negotiators worked…
Transforming the “C” in “LAC” to Combat Global Trade Headwinds
For geographic purposes and statistical convenience, the Caribbean sub-region is often subsumed under the umbrella of Latin America and the Caribbean (LAC). Despite some improvements, it too often seems as though the “C” in “LAC” is little more than an extra letter given the negligible attention devoted to…
The 9th Summit of the Americas as a Reset for CARICOM-US Economic Relations
Whatever one might think of the politics of the Ninth Summit of the Americas due to take place 6-10 June in Los Angeles, one thing is incontrovertible: for CARICOM leaders, the hemispheric meeting is an opportunity to upgrade economic and trade relations with the United States, at the highest levels. We must not squander it…
Is this the CARICOM we want at fifty?
Forty-nine years ago, regional Prime Ministers agreed to the establishment of the Caribbean Community (CARICOM). Since then the region has had numerous successes and advancements in deepening regional integration. As the region counts down to CARICOM’s 50th Anniversary, the author is pondering: What is in store for CARICOM at 50? Will…
A Call for Young Professionals to Transition Into the CSME as Entrepreneurs
The last time I wrote this column, my simple advice was to brace for impact…major disruption to your yuletide season. In an effort not to sound repetitive, my advice now is to buckle down and make the CARICOM Single Market (CSM) work for you as an entrepreneur…
Leveraging Web 3.0 Part 2: Digital Infrastructure and Potential Risks
In our first piece titled: Leveraging Web 3.0 to Boost Trade & Investment in the Orange Economy we explored how Web 3.0 developments like smart contracts, asset tokenization, and the metaverse can be leveraged in the orange economy. In this SRC Trading Thoughts, we examine practical tools and applications for navigating Web 3.0 and associated risks…
The WTO must deliver on PM Mottley’s message… and on the next-generation version of itself!
At a time when all is not well with international economic relations, a message of inclusiveness, equity and morality in trade appears to have resonated strongly in a room at the World Trade Organization (WTO) packed to capacity with trade negotiators, dignitaries, WTO staff, students and academics…
Integrating Gender and Trade Policy in CARICOM for this Year’s International Women’s Day
It would be remiss not to highlight important strides made recently to advance the trade and gender agenda in CARICOM: Under the incoming Presidency of Barbados, UNCTAD XV hosted an inaugural Forum on Gender and Development, led by Caribbean feminists…
The Chamber and Barbados’ Trade Mission to Guyana
At bilateral negotiations held between President of Guyana, Dr. Mohamed Irfaan Ali, and the Prime Minister of Barbados, Honourable Mia Amor Mottley, at the margins of the UNCTAD XV hosted in Barbados in October 2021, a decision was taken by both leaders to chart a new paradigm in the relations between…
Leveraging Web 3.0 to Boost Trade & Investment in the Orange Economy
A decline in tourism due to the COVID-19 pandemic reminded the Caribbean of their need for economic diversification. An area for consideration is the “orange” economy which, given the region’s rich cultural assets, presents endless opportunities. However, comparative advantage alone is not sufficient to…
The WTO Services Domestic Regulation: Should CARICOM Countries Join?
Services providers – whether lawyers, accountants or IT professionals – know all too well the non-negligible costs and high regulatory barriers encountered when seeking authorization to ply their trade in a foreign land. It is with this reality in mind that on December 2, 2021, 67 members of the 164-member World Trade Organization (WTO)…
The Last Mile to MC12
The World Trade Organization (WTO) approaches its 12th Ministerial Conference (of Ministers responsible for trade) with its centrality in the Multilateral Trading System (MTS) assured despite the severe shocks it has faced in recent years. These shocks have been magnified by the stagnation in its negotiating pillar and the severe setback…
Brace For Impact… Major Disruption To The Yuletide Season Consumer
Approximately nearly 18 months since the Caribbean Community (CARICOM) Member States were disrupted by the Covid-19 Pandemic, we can now look back and examine the lessons learnt from surviving the catastrophic human, social, economic, and political losses. As we commence our Christmas preparations, there is one more lesson we need to…
From the Savannah to the Sea: Connecting Kenya and Barbados through Trade and Investment
On the side lines of the UNCTAD XV Conference hosted by Barbados on 3-7 October 2021, a growing courtship between Barbados’ Prime Minister Mia Mottley and Kenya’s President Uhuru Kenyatta was entering a new phase. While trade officials were busy negotiating the final text of the Bridgetown Covenant at the UNCTAD XV plenary session…
What was achieved at UNCTAD XV and what next?
In October 3-7, 2021, Barbados not only successfully hosted the Fifteenth Quadrennial Conference of the United Nations Conference on Trade and Development (UNCTAD XV) in hybrid format, but has assumed the presidency of this UN General Assembly organ for the next three years. Barbados is not only the smallest State and first small island developing…
Can You Gig It? Leveraging The Gig Economy for Cross Border Trade in Services in the Caribbean
The COVID-19 pandemic has ensured that it can’t be business as usual – more firms are leveraging digital solutions for business continuity, online labour markets are becoming more popular, and the suitability of the traditional 9-5 workweek is being questioned…
CARICOM SIDS and the WTO Fisheries Subsidies Negotiations
By the time the World Trade Organization (WTO) holds its Twelfth Ministerial Conference (MC12) in November this year, Members hope to have finally reached a multilateral agreement to discipline harmful fisheries subsidies. Fisheries subsidies negotiations have been on-going at the WTO since 2001. Should an agreement be reached among the…
The EU’s Carbon Border Adjustment Mechanism and CARICOM
On 14 July 2021, the European Union (EU) released its long-awaited proposal for a Carbon Border Adjustment Mechanism (CBAM) which will serve as the EU bloc’s first carbon import levy. As anticipated, the proposed CBAM has attracted attention among international observers, even if it has not been widely reported in Caribbean circles…
Facilitating Private Sector Investment for SDG Achievement in Caribbean SIDS
The following is an adapted article from talking points delivered by esteemed panelist Mr. Matthew Wilson at the August 5, 2021 Shridath Ramphal Centre event on ‘Facilitating private sector investment for SDG achievement in Caribbean SIDs’…
The CARICOM Commission’s Report on the Economy: Time to Play Your Part!
At the invitation of the Governor of the Central Bank of Barbados, I recently participated in a vibrant session of the Caribbean Economic Forum entitled “Putting People at the Centre of Development in the Caribbean”. My fellow panelists – Professor Avinash Persaud and Dr. Damien King – were two…
TRIPS and Health: Moving towards a friendlier intellectual property regime
Over the past decade, global health issues, and questions about the impact of international trade on global health have taken centre-stage. The diverse nature of health-related conflicts that have arisen within the international trade context dramatically illustrate that it is no longer possible to view issues of global health and international…
Same Cast, Time for a different script: A Sobering Welcome to Dr. Barnett
With the announcement of the upcoming retirement of Ambassador Irwin LaRocque in August 2021 as the Caribbean Community (CARICOM) Secretary General (SG), this author waited with bated breath for the confirmation of the selected successor. The moment came earlier this month when CARICOM Chair, Prime Minister of Trinidad and Tobago made
Diaspora Financing for Achieving the Sustainable Development Goals (SDGs) in the Caribbean
Although in recent years, Caribbean governments have accelerated their diaspora engagement efforts, the diaspora as a development actor remains under-harnessed. This SRC Trading Thoughts examines the potentially transformative role the diaspora could play in assisting Caribbean countries’ financing of the United Nations (UN) Sustainable Development Goals (SDGs)…
My Experience at the Model WTO International 2021
As a freshly minted graduate and alumnus of the Masters in International Trade Policy (MITP) Programme at the UWI Shridath Ramphal Centre (SRC), Cave Hill Campus, I anticipated that my first real test to apply the skills I acquired would take the form of the traditional 3-month internship…
Unleashing the Potential of Youth in International Trade
Youth unemployment, defined by the International Labour Organization (ILO) as persons aged 15-24 seeking but unable to find a job, is a global crisis. According to the ILO, more than 64 million youth are unemployed globally, and 145 million young workers live in poverty. To achieve the United Nations Sustainable Development Goal 8: Decent Work and Economic Growth, the reduction of youth unemployment is explicitly outlined…
Towards a Post-Brexit UK-Caribbean Relationship
Having not met in five years, the United Kingdom-Caribbean Ministerial Forum (hereafter Ministerial Forum) that met on 18 March 2021 for the tenth time was a meeting of many firsts. It was the first such meeting to take place in the post-Brexit era. And it assumed perhaps its highest profile yet, coming as it did on the heels of the March 16th release of the UK’s much anticipated integrated review of security, defence, development and foreign policy. Speaking of ‘eras’…
A Brief Reflection on Lamy’s Henry Gill Memorial Lecture: New Global Trade Currents, New Caribbean Responses?
On March 17, inst. Pascal Lamy, the former EU Trade Commissioner and WTO Director-General delivered the inaugural Henry Gill memorial lecture. The event was aimed at memorialising the professional life of the former Caribbean trade negotiator and academic. Mr.’s Lamy’s intervention offered a reflection on key lessons on trade and development since…
Services Zones for Post-COVID-19 Recovery and Development
At a Covid-19 press conference held on February 15, 2020, it was mentioned in passing that the Government of Barbados (GOB) was exploring the creation of a free trade zone. We applaud the fact that this idea has finally taken root. Some years ago, in his regular newspaper column, Dr. Yearwood proposed the establishment of a free service or trade zone as a new element for Barbados’ economic development. He returned to the idea on several occasions, more recently…
The Caribbean Community Common External Tariff: Revisiting its Governing Philosophy
The Common External Tariff (CET) is a critical component of the Caribbean Community (CARICOM), one of the oldest regional integration arrangements among developing countries in the world, whose aim is to remove barriers to the intra-regional trade among its Member States. In theory, the CET provides for the application of a protective…
Never let a good crisis go to waste: Revisiting the CARICOM Single Domestic Space
Former British Prime Minister Sir Winston Churchill who led Britain through World War II is credited as saying “never let a good crisis go to waste.” It is with these words that I pen this article to advance my opinion on the way forward for the regional integration movement in light of the upcoming virtual 32nd Inter-Sessional Meeting of the Conference of Heads of CARICOM Government…
The Energy Transition
Economic and human activity depends on the use of energy. The Industrial Revolution was made possible by harnessing the power of fossil fuels to service manufacturing, transport, and large urban settlements. While fossil fuel energy has positively changed human life, burning fossil fuels emits carbon dioxide (CO2), a greenhouse gas, which has caused global warming resulting in climate change. It is scientifically recognized that changing the energy mix from…
![Barbados’ tropical temperatures, year-round sunshine and award-winning beaches undeniably create a natural comparative advantage luring millions of tourists. Recording its third consecutive year of growth in stayover arrivals, Barbados welcomed 680,269 stayover visitors and 614,933 cruise passengers in 2018, according to the BTMI’s latest annual report.[1] Tourism, Barbados’ biggest foreign exchange earner...](https://shridathramphalcentre.com/wp-content/uploads/2021/02/drink-84533_640-1.jpg)
Beyond Sun, Sand and Sea: Developing an Inclusive, Sustainable & Resilient Tourism Sector in Barbados
Barbados’ tropical temperatures, year-round sunshine and award-winning beaches undeniably create a natural comparative advantage luring millions of tourists. Recording its third consecutive year of growth in stayover arrivals, Barbados welcomed 680,269 stayover visitors and 614,933 cruise passengers in 2018, according to the BTMI’s latest annual report.[1] Tourism, Barbados’ biggest foreign exchange earner…
Five Priority Areas for a Caribbean International Trade Agenda in 2021
January is the time for making New Year’s resolutions and as the month draws to a close (already!), I want to squeeze in my wish list for the region’s top five trade negotiating priorities for the year 2021.
As my colleague, Alicia Nicholls explains in her piece this month, 2020 was a torrid year for international…
Could 2021 be a comeback year for global trade?
2020 was one of the most disruptive years in recent memory for global trade and the rules-based multilateral trading system. The COVID-19 pandemic triggered a sharp contraction in global merchandise trade growth which was already slowing due to escalating trade tensions among major trading powers. It disrupted global supply chains, provoking calls for nearshoring. The International Civil Aviation…
Should CARICOM Countries support a WTO TRIPS Waiver to access the COVID-19 Vaccine?
Through its Resolution WHA73.1 of 19 May 2020, the World Health Organization recognizes that the COVID-19 pandemic has a disproportionately heavy impact on the poor and the most vulnerable, with repercussions on health and development gains, in particular, in low-income countries…
A WTO Trade Response for CARICOM to Counter EU blacklisting?
Two Caribbean Community (CARICOM) countries, Barbados and Trinidad and Tobago, are among the twelve predominantly small states and dependencies included on the EU’s updated “blacklist” of October 6, 2020. The arbitrary inclusion of some CARICOM Member States (MS) on large countries’ national tax “blacklists” remains a vexing issue…
The Next WTO Director-General: Ngozi Okonjo-Iweala’s Long Walk to Victory
On October 28th 2020, at a Heads of Delegations (HOD) meeting, Ambassador David Walker recommended that Ngozi Okonjo-Iweala be appointed as the new Director-General (DG) of the World Trade Organization (WTO) following the conclusion of the third and final individual consultations with Member State delegations on October 27th…
Unlocking the Full Potential of the Association of Caribbean States
The signing of the Convention Establishing the Association of Caribbean States (ACS) on 24 July 1994 in Cartagena de Indias, Colombia, signalled a new era of regional cooperation, one envisaged in the 1980s when CARICOM indicated its desire to widen the integration process to include all other countries in the Caribbean Basin. Against the backdrop of furthering cooperation…
Reconsidering Strategic Trade Alliances for the Caribbean
Caribbean news was recently abuzz with Barbados’ plan to remove the Queen as its Head of State, which would signal a severing of some of the last vestiges of its legislative colonial ties. In the aftermath of that announcement, some of the media in the Global North pounced on China as the instigator of this change, suggesting thereby that our own Caribbean leaders could not themselves be credited…
In Its Race For Director-General, Will The WTO Make History Or Her-Story?
By Leah Crag-Chaderton & Nicholas Lazarus Just three weeks after Roberto Azevedo officially demitted office as Director-General (DG) of the World Trade Organization (WTO), the selection process for his successor is well under way. The list of those vying for the helm of the WTO got shorter on September 18th, when the General Council revealed…
COVID-19: An Opportunity to Rethink Caribbean Diaspora Engagement
By David Gomez and Alicia Nicholls Caribbean economies, like others around the world, have been negatively impacted by the on-going novel coronavirus disease 2019 (COVID-19) pandemic. The International Monetary Fund (IMF) in its June 2020 Economic Outlook forecasts global gross domestic product (GDP) growth at – 4.9 percent in 2020. For tourism-dependent economies like Barbados,…
CARICOM’s Stake in the WTO Director-General Race
By Alicia Nicholls Incumbent World Trade Organization (WTO) Director-General (DG) Mr. Roberto Azevedo’s recent announcement of his resignation a full year before concluding his second term of office took the world by surprise, and presents another plot twist among the mounting challenges confronting the guardian of the multilateral trading system. The incoming DG – whoever…
Lessons from the Appellate Body’s Parting Shot in the WTO Tobacco Plain Packaging Dispute
By Dr. Jan Yves Remy The report issued this week by the Appellate Body of the World Trade Organization (WTO) in the Australia Tobacco Plain Packaging dispute might be remembered because it is the final report of a dying international appeal court. However, to focus on its symbolic value only would be a missed opportunity…
COVID-19 Is Exposing Cybersecurity Vulnerabilities
By Chelcee Brathwaite COVID-19 is shifting more activities to online platforms: from board meetings to classrooms, to church services, to local vendors, all are moving online as a result of new social and physical distancing measures. Reports indicate that since the pandemic began, web conferencing has grown by 500%, video platforms by 265%, webinars by…
Geopolitically Investigating The Flight Plan For Caribbean Integration: The Case Of LIAT
By Dr. Kai-Ann Skeete Given the Caribbean’s natural geography, air transportation is a critical component of our regional infrastructure. The Caribbean is heavily reliant on air-transportation to provide connectivity which is fundamental to sustaining economic growth in a region highly dependent on trade in goods and services, especially tourism. However, several CARICOM leaders have chosen…
LIAT is the real MVP of Caribbean Integration
Dr. Kai-Ann Skeete INTRODUCTION Conceptualised in 1956, LIAT predates the Caribbean Independence movement, although it became operational in 1974. Presently, it is comprised of a mere 10 aircraft, 5 ATR42s with 48 seats and 5 ATR72s with 68 seats which service 15 destinations among the English, French, Spanish and Dutch-speaking Caribbean around the clock. My…
An Opportunity to Reclaim Industrial Policy in CARICOM
By Joel K. Richards INTRODUCTION The current novel coronavirus (COVID-19) crisis which originated in China, and which has severely disrupted China-centric value and supply chains, has laid bare the limits of countries having outsourced their industrial policy to China. According to the United Nations Conference on Trade and Development (UNCTAD), the slowdown of manufacturing in…
Heeding Prime Minister Mottley’s Clarion Call for a Vulnerability Index
By Jason Cotton, Jan Yves Remy and Alicia Nicholls INTRODUCTION All of Barbados sat glued to their television sets this Wednesday as CNN’s Christiane Amanpour interviewed Prime Minister, the Honourable Mia Amor Mottley. And she did not disappoint. She used the world stage to make a clarion call for global leadership on the issue of…
A Legal Assessment of the Impact of Brexit on UK-CARICOM Relations
Tara Leevy INTRODUCTION Businesses will benefit from a series of trade continuity agreements signed between the UK and CARICOM countries, which trade continuity agreements will maintain current arrangements with countries in the Caribbean post Brexit.[1] The benefit of those trade continuity agreements is that they eliminate tariffs on all goods imported from CARIFORUM states into…
Transforming Small States’ Participation in International Relations – One Online Meeting at a Time
By Nick Ashton-Hart The original version of this piece, entitled, “Online Meetings are Transforming International Relations” was published by the Council on Foreign Relations and has been modified for the Caribbean region. While it is largely invisible to the public, behind the scenes the biggest change to intergovernmental meetings in our lifetimes is taking place:…
What the new Appeal-Arbitration System Might Mean for the Future of WTO Dispute Settlement
Dr. Jan Yves Remy As COVID-19 continues to grip the world’s attention, a consequential new development has crept into the halls of the dispute settlement system at the World Trade Organization (WTO). On 27 March 2020, 16 of the WTO’s 164 Members announced their agreement to use arbitration procedures provided for under WTO rules as…
What COVID-19 Teaches About Caribbean Vulnerability and Resilience
Jan Yves Remy, Chelcee Brathwaite and Alicia Nicholls The Coronavirus Disease 2019 (COVID-19) is making the global economy sick. Like the pathological disease itself which has been declared a pandemic, COVID-19 has invaded the global economic bloodstream, placing its vital organs in distress, with no immediate cure. Production chains are being disrupted, international travel is…
CCJ Advisory Opinion Endorses Differentiated Approach to Free Movement in CARICOM
Dr. Jan Yves Remy and Alicia Nicholls On 18 March 2020, the Caribbean Court of Justice (CCJ) delivered its first Advisory Opinion following a request filed a year ago by the Caribbean Community (the Community). It was asked to consider the legality of CARICOM Heads of Government’s decision allowing two Member States – Antigua and…
A WTO Investment Facilitation Agreement: Any added value for the Caribbean?
Alicia Nicholls The majority of World Trade Organization (WTO) Members have this month commenced negotiations to conclude a binding multilateral agreement on investment facilitation for development. The negotiations, which have received the support of the global business community, seek to facilitate investment flows between economies in a sustainable and pro-development manner. To date, one hundred…
The Art of the US-China Trade Deal
Chelceé Brathwaite Over the past 18 months China and the United States of America (US) have been embroiled in a trade war. That trade war is the result of escalations in tensions surrounding alleged unfair trade practices by China, such as forced technology transfers, currency manipulation and others. By the end of 2019, the USA…
Engaging the Caribbean Diaspora for Trade and Sustainable Development
Alicia Nicholls Some four million people of Caribbean descent live outside of the region, according to data from the United Nation’s Population Division. Persons of Caribbean descent can be found across the world, but their main hubs are in the United States (US), the United Kingdom (UK), Canada and parts of continental Europe, such as…
My Journey South: Tracing developments on Artificial Intelligence (AI) in Latin America and the Caribbean
By Chelceé Brathwaite Artificial Intelligence (AI) in South America – Setting the Bar for the Caribbean While some still consider AI to be beyond the grasp of developing countries, our South American neighbours have been shattering that stereotype. AI is being deployed in a number of their endeavours: to speed up artefact findings in Peru;…
Why the WTO Appellate Body Crisis Matters to the Caribbean
Dr. Jan Yves Remy and Alicia Nicholls The Appellate Body (AB) of the World Trade Organization (WTO) – the final court charged with hearing appeals on points of law at the WTO – faces an existential crisis. On 10 December 2019, the terms of two of its remaining three members – the quorum needed to…
China: The Villain or the Hero?
By: Diakia Straker China’s impressive growth and its reach across the world have sparked some concerns on the international stage and the literature remains divided on China’s motive for its ‘Going Global Strategy’. On the one hand, China is seen as a threat to the USA-led world order, and on the other hand, China is…
“Opting Out” of the Revised Treaty of Chaguaramas? The Significance of the CCJ’s Pending Advisory Opinion
Dr. Jan Yves Remy and Alicia Nicholls The Caribbean Court of Justice (CCJ) will mark another milestone in its decade and a half history when it shortly delivers its first advisory opinion pursuant to Article 212 of the Revised Treaty of Chaguaramas (RTC). Late last month, the Court held a publically broadcast two-day hearing where…
Revitalization of the Agricultural Sector in the Caribbean : Promoting Domestic Agriculture as a solution
By Neil C.A. Paul What is the current situation with respect to Caribbean agriculture? A decimated Windward Islands banana industry, struggling to regain some semblance of the glory days, following the now infamous World Trade Organization (WTO) decisions pertaining to preferential access for Caribbean bananas to the European Union (EU) market. The Caribbean sugar industry,…
Assessing the Impact of Barbados’ Proposed Data Protection Bill on the Barbadian Private Sector
By: Dean C. Forbes, Gabrielle Whitehall and Jan Yves N. Remy Today, more than 120 countries have privacy and data protection laws or regulations in place. Many of the new or modernized laws tend to be based on comprehensive legislation, rather than sectoral rules, as data needs to move across industry groups and borders. With…
Rough Seas or Smooth Sailing for UK-CARIFORUM Relations in No-Deal Brexit?
By: Nia Marshall A new Prime Minister is usually synonymous with new beginnings – setting clear economic and social objectives, and then creating a plan for achieving them. But ever since 2016, United Kingdom (UK) politics has been consumed largely with Brexit, leaving little policy space for other issues. Past Prime Minister Theresa May had…
Where Trade and Health Intersect: Front-of-Package Labelling in the Caribbean as a Case Study
By Dr. Arthur Phillips and Dr. Jan Yves Remy Oftentimes, in public discourse, trade and health are presented as opposing factions competing for governments’ attention and priority. Those who ardently believe in the right of governments to protect the well-being of their citizenry often see trade rules that promote the dismantling of barriers to trade…
Cement Saga Confirms Importance of CCJ to CARICOM
By: Dr. Jan Yves Remy and Alicia Nicholls This year, the Caribbean Court of Justice (CCJ) delivered two substantive rulings in a dispute aptly dubbed by the media as the ‘cement saga’, a reference to a long-running spat involving regional competitors in the cement business: Rock Hard Distribution Limited, and its subsidiary Rock Hard Cement…
Addressing Genetically Modified Foods: A Rising Food Security Concern for the Region
By: Camille Russell Genetically Modified Organisms (GMOs) are one of the most controversial areas of science. While their use in certain fields like medicine is accepted, when it comes to their use in food and agriculture, ethical and moral questions loom. For example, while GM insulin is acceptable in the medical field, there remains skepticism…
Why didn’t the chicken cross the water?
By: Camille Russell Throughout CARICOM, chicken is considered king. In fact, the region boasts close to 100 per cent sufficiency in eggs and approximately 67 per cent sufficiency for poultry meats. Furthermore, not only is the poultry industry the region’s largest industrial enterprise, with a gross income in excess of US$660 million, but it accounts…
My experience in the MITP Geneva Study Tour
By: Ade O’NEAL Reform of the World Trade Organization (WTO), trade facilitation, and under-representation by Caribbean States at the WTO were some of the hot-button issues ventilated over the course of the two-week Study Tour in Geneva organized for students enrolled in the Masters in International Trade Policy (MITP) Programme at the Shridath Ramphal Centre…
Geneva, still a place where trade people come together!
By Dr. Jan Yves Remy As the plane climbs above Lake Geneva and I say goodbye again to the Swiss Alps, I reflect on my three-week stay in Geneva accompanying UWI/Cave Hill students enrolled in the SRC’s Masters in Trade Policy (MITP) programme. Geneva, a city in the heart of Europe, represents the best of…
Expanding China-Caribbean Trade
By Alicia Nicholls Economic and political ties between the People’s Republic of China (China) and the Caribbean as a whole have undergone a substantial deepening in recent years. For both geostrategic and economic reasons, China has initiated much of this overture. But there are also compelling reasons why Caribbean countries increasingly regard China as a…
Is the WTO still relevant in its current configuration? – A perspective from the Caribbean
By: Neil C.A. Paul Over the last few years, the issue of the relevance of the World Trade Organization (WTO) has been raised in many quarters of its membership. The WTO, is a system of multilateral trade Rules which governs global trade for more than 160 countries. It is a part of the Bretton Woods…
Can CARICOM Afford to Miss the WTO E-Commerce Train?
On the sidelines of this year’s World Economic Forum meeting in January at Davos, Switzerland, 76 Members of the World Trade Organization (WTO) expressed their intention to begin WTO negotiations on electronic commerce (e-commerce). Making up less than half of the WTO’s overall membership, these willing Members entreated other Members to join them in negotiating…
UNCITRAL Investor-State Dispute Settlement Reform: Why It Matters to Caribbean States
By: Andrea Ewart, Esq. On 28th June, 2016, an arbitral tribunal ordered the Government of Belize to pay to the private company of Dunkeld International Investments Ltd. the sum of approximately US $171.2 million.1 The award arose out of claims brought by Dunkeld, which held majority shares in Belize Telemedia Limited, after the nationalization of…
Special and Differential Treatment in the WTO: A Caribbean Perspective
Special and differential treatment (S&DT), which grants certain preferences and flexibilities to developing countries and Least Developed Countries (LDCs), is a cornerstone of the rules-based multilateral trading system. At present, all WTO developing country members, including those in the Caribbean, benefit from S&DT under the WTO Agreements to assist their integration into the global trading…
The Case for Accelerating Gender Mainstreaming in CARICOM Trade Policy
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…
CSME Free Movement of Labour Traffic Signal Analysis
By: Dr. Kai-Ann Skeete Free movement of labour – green light On the morning of December 5 2018, citizens of the CARICOM (Caribbean Community) Single Market and Economy (CSME) participating Member States woke up to a new, impending reality. Just hours earlier, several of their respective leaders signed the St. Ann’s Declaration on the CSME.…
Can CARIFORUM-UK Trading Relations Survive the Clouds of Uncertainty Hanging over UK-EU Relations?
Introduction After almost two years of intense negotiations, a deal between the European Union (EU) and the United Kingdom (UK) giving effect to the will of 17.4 million Britons (51.9% of the vote) to leave the EU remains elusive. Many hoped that the cloud of uncertainty had finally lifted when, in November, negotiators from the…
Two Sugars, Please!
King Sugar has been the legacy of the Caribbean since its introduction to the region over 300 years ago. In particular, the rich brown crystals extracted from stalks of luscious cane fields, have served to shape our economies and impact the cultural and social landscapes of most islands across the Region. From being a major…
Will current WTO rule-making reform proposals benefit Caribbean Small States?
The rules-based multilateral trading system (MTS), institutionalized by the World Trade Organization (WTO), is confronting an existential threat. Questions about the fairness and efficacy of the WTO, the guardian of the MTS, have plagued it since its inception in 1995, but the calls for reform have reached fever pitch over the past two years. Withdrawal…
A Regional Trade Agenda for CARICOM
The key characteristics of Caribbean trade challenges have been well documented. The region’s economies are open (i.e. external trade as a share of GDP is high) thereby exposing countries’ vulnerability to swings in performance of the global economy. Caribbean economies exude limited export diversification (in both market destinations and products). In addition, these economies’ small…
Reducing the Region’s Food Import Bill by sector and by country: Who says you can’t “spot reduce”?
With a current Food Import Bill (FIB) in excess of US$4 billion, and projected to increase to $8 billion – $10 billion by 2020, CARICOM must act to curb spending of limited resources on food imports. A high FIB for CARICOM means that not only is scarce foreign exchange diverted away from crucial areas such…
Barbados’ Repeal of its Fiscal Incentives Act: Necessary Evil or Impermissible Imposition?
Amidst much debate, the Barbados Parliament recently voted to repeal the island’s Fiscal Incentives Act (Cap 71A) (FIA) with effect from 2 January, 2019. The ostensible reason was to bring Barbados into conformity with its obligations under the World Trade Organization (WTO), and in particular, the Agreement on Subsidies and Countervailing Measures (SCM Agreement). In…