NEW DATE! SRC LTC – How the CSN Can Use Blockchain to Promote Trade – Feb 3, 2021
In a recent IDB publication, entitled, “A Caribbean Settlement Network: Can Blockchain Ease Intraregional Trade in the Caribbean?”, the authors explore the potential that a blockchain network in the Caribbean holds for reducing non-tariff trade costs and consequently, promoting trade. Across CARICOM, intraregional trade is declining, while trade costs, specifically non-tariff ones, are rising. With increasing empirical evidence suggesting that distributed ledger technologies can reduce non-tariff barriers, the authors highlight how the use of blockchain technology in trade can produce positive results and increase the region’s trade competitiveness. Against this backdrop, the SRC invites you to its upcoming Lunchtime Chat entitled: “How the Caribbean Settlement Network Can Use Blockchain To Promote Trade”. Join us virtually on Wednesday, February 3, 2021 at 12:30 p.m. (AST) to hear directly from the authors of this IDB publication! Register today using the new registration link here: https://zoom.us/webinar/register/WN_bU9q0tVBTyCBxxwygtWJpA
H.E Ambassador Chad Blackman – UNCTAD XV Host-Country Led Informal Dialogue on UNCTAD
H.E. Chad Blackman, Barbados’ Ambassador and Permanent Representative to the United Nations and Other International Organizations at Geneva, shares the concept with members on the upcoming Host Country (UNCTAD XV) Led Informal Dialogue with Member States on UNCTAD and the way forward, in addressing the many challenges and opportunities for developing countries.
SRC/Anchor Group Webinar – January 27, 2021
As we navigate the current digital landscape, organizations are increasingly looking towards solutions to their data, cloud solutions and revolutionary technology to cut the cost of development and maintenance and still achieve highly reliable and elastic services. Our esteemed group of panelists will offer insights and a panoramic perspective: Mr. Kevin Howell – Chief Executive Officer, Anchor Group NA (Moderator)Mr. Blair Lilford- Founder, SALT Technology GroupMr. Delroy McLean – Senior Director, B2B, C&W BusinessMr. Bartlett Morgan – Digital Law and Policy SpecialistMr. Chukwuemeka Cameron – Founder, Design PrivacyDr. Jan – Yves Remy – Deputy Director of SRC UWI Cavehill, UWI Cavehill REGISTER NOW: https://lnkd.in/gKUancz
Postponement of SRC Lunch Time Chat “How the Caribbean Settlement Network can use blockchain to promote trade”
Dear Friend of the SRC, We regret to inform you that our SRC Lunch Time Chat “How the Caribbean Settlement Network can use Blockchain to Promote Trade” scheduled for today Wednesday, January 20, 2021, has been postponed due to technical issues beyond our control. We sincerely apologise for this. The new date and time and a fresh registration link will be communicated to you in subsequent correspondence. We apologise for any inconvenience and thank you for your continued support of the SRC’s work. We look forward to you joining us for the rescheduled event. Kind regards, The SRC Team
Could 2021 be a comeback year for global trade?
Alicia Nicholls$*2020 was one of the most disruptive years in recent memory for global trade and the rules-based multilateral trading system. The COVID-19 pandemic triggered a sharp contraction in global merchandise trade growth which was already slowing due to escalating trade tensions among major trading powers. It disrupted global supply chains, provoking calls for nearshoring. The International Civil Aviation…
VIDEO – SRC One on One Chat with Dr. Mustaqeem De Gama on WTO COVID-19 TRIPS Waiver Proposal
The SRC is pleased to share our SRC 1 on 1 Interview with Dr. Mustaqeem De Gama, South African Representative to the World Trade Organization (WTO), and co-proponent of the WTO Waiver for a Covid-19 Vaccine and other treatments. In this interview, hosted by the SRC’s Deputy Director Dr Jan Yves Remy, Dr. De Gama explains the rationale for his proposed waiver from WTO TRIPS obligations and tells us why CARICOM Countries should support it. Watch the video here: The interview follows from an SRC Trading Thoughts article entitled “Should CARICOM countries support a TRIPS waiver to access the COVID-19 vaccine?” which was co-authored by Dr. Remy and Dr. De Gama and available here.
Should CARICOM Countries support a WTO TRIPS Waiver to access the COVID-19 Vaccine?
Jan Yves Remy and Mustaqeem De Gama$*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?
Dr. Jan Yves Remy and Alicia Nicholls$*Two Caribbean Community (CARICOM) countries, Barbados and Trinidad and Tobago, are among the twelve predominantly small states and dependencies included on the EU’s updated “blacklist” of October 6, 2020. The arbitrary inclusion of some CARICOM Member States (MS) on large countries’ national tax “blacklists” remains a vexing issue…
The Next WTO Director-General: Ngozi Okonjo-Iweala’s Long Walk to Victory
Leah Crag-Chaderton & Nicholas Lazarus$*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…
The sun rises in the East
Joel K. Richards In geopolitics today, as it occurs in nature, the sun rises in the East. Here, I am specifically referring to the East-Asia region which is now one of the most dynamic regions of the world in terms of economic growth, technology and innovation. Recently, on 15th November 2020, this region sent a signal of its growing strength to the rest of the world by concluding eight years of tough negotiations for a Regional Comprehensive Economic Partnership (RCEP) Agreement. RCEP is now the world’s biggest trade deal and it involves 15 economies, including members of the Association of South-East Asian Nations (ASEAN), Australia, China, Japan, New Zealand and South Korea. By comparison, RCEP is bigger than both the European Union (EU) and the United States (US)-Mexico-Canada Trade Agreement. Currently, based on a report by the British Broadcasting Corporation (BBC), members of RCEP comprise almost one-third of the world’s population and make up for roughly 29% of global gross domestic product (GDP). The British multinational investment bank HSBC predicts that by 2030, RCEP could account for 50 percent of global output. Furthermore, the Peterson Institute for International Economics estimates that RCEP has the potential to increase global national income by USD$186bn annually by 2030 and add 0.2% to the economy of its member states. Because China is part of RCEP, some observers see the agreement as a major geopolitical victory for Beijing, especially when considering that the US pulled out of the Trans-Pacific Partnership (TPP) when President Trump assumed office. We should recall that the TPP formed part of the Obama Administration’s pivot to Asia, a move interpreted as countering China’s influence in that region. RCEP may indeed turn out to serve China’s interests. However, it would be wrong to assume that the deal is primarily about China. Peter Petri of the Peterson Institute and Michael Plummer of Johns Hopkins University estimate that Japan and South Korea will gain the most because by 2030, their real incomes are expected to be 1% higher than they would have otherwise been. RCEP is further evidence of Asia’s growing power, especially at a time when the corresponding power and influence of the EU and the US appear to be on the decline. In a research note, economists at HSBC have stated that RCEP “may reinforce a trend that’s been already underway for decades: that the global center of economic gravity keeps pushing relentlessly to the East.” This idea that the global center of economic gravity keeps shifting to the East is particularly important for small developing states in the Caribbean which continue to rely heavily on North America and the EU for trade and investment. Of course, there are historical ties with Europe as well as proximity when it comes to North America which suggest that total decoupling is unlikely to ever take place. In any case, total decoupling should not be the goal. Nonetheless, Asia’s economic dynamism and its excellence in areas such as innovation and technology mark it out as an ideal region with which to develop strong economic and diplomatic ties. It is also important to emphasize that Asia is more than just China. Singapore for example has emerged over the years as one of the world’s most advanced economies, notwithstanding its relatively small size. Singapore has world class logistics, financial services, business facilitation services and transport engineering services among other competitive advantages. South Korea is another of Asia’s success stories and it has experienced one of the largest economic transformations in modern times, with specific strengths in technology development and innovation. For its part, Japan has the world’s third largest economy, a high capacity for innovation and technology, and thousands of cash-rich businesses. These are all strengths that can be tapped into by Caribbean countries through diplomacy and economic cooperation arrangements to the extent that the political will exists to bring about the desired outcomes. Finally, the notion that the sun is rising in the East should not suggest that it has set in the West, at least in a geopolitical sense. The West, mainly the US, Canada and the EU will continue to occupy an important role both globally and in the Caribbean region. However, as Asia continues on an upward trajectory, this calls for more engagement between the Caribbean and Asia with a view to enhance trade, investment, technology and innovation, especially for the benefit of Caribbean economies and societies. Joel K. Richards is a national of St. Vincent and the Grenadines. He previously worked as an Advisor to the CARICOM Secretariat and the principal trade consultant to the Barbados Private Sector Association. He is currently based in Europe where he works in the field of international trade and development.