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OFFICE OF TRADE NEGOTIATIONS
DAILY DIGEST
2013 October 23rd
WTO Arena
China Tries to Clean Up Toxic Legacy of Its Rare Earth Riches
In northern China, near the Mongolian border, radioactively contaminated leaks from two decades of rare earth
refining have been slowly trickling underground toward the Yellow River, a crucial water source for 150 million
people.
http://www.nytimes.com/2013/10/23/business/international/china-tries-to-clean-up-toxic-legacy-of-its-rareearth-riches.html?_r=0
EU and Seychelles conclude bilateral negotiations on Seychelles’ accession to the WTO
Seychelles Ambassador Vivienne Fock Tave and EU Ambassador Angelos Pangratis today signed a deal concluding
bilateral negotiations on Seychelles’ accession to the World Trade Organisation (WTO). Accession to the WTO is
expected to make a lasting contribution to the process of economic reform and sustainable development in the
Seychelles.
http://trade.ec.europa.eu/doclib/press/index.cfm?id=978
Gov't should suspend WTO agreement
Mr Claude Clarke is my hero because he says it like it is. In his presentation to the Jamaica Manufacturers'
Association A Annual Awards Banquet 2013 he said, "It is time for the Jamaican Government to fulfil its mandate to
protect the economic interest of the Jamaican people. It is time for the Jamaican Government to put the Jamaican
people first. And it is time for the Jamaican Government to assert its sovereign authority and suspend the Common
External Tariff of CARICOM, at least for the duration of the IMF programme."
http://jamaica-gleaner.com/gleaner/20131023/letters/letters3.html
Column: A long way from a done Doha deal
In just over a month, members of the World Trade Organisation (WTO) will congregate in Bali for the Ninth Ministerial
Conference. This meeting is being seen as an important step towards providing the much-needed impetus to the
Doha Round, which has suffered an extended impasse. In 2001, when the decision was taken to launch the Doha
Round, WTO members had agreed to seal the deal in four years. However, well beyond a decade since, progress in
most of the major negotiating areas has been perfunctory. There is, therefore, no doubt that the current round has
been the most vexatious of all the negotiating Rounds that the multilateral trading system has seen since it was
established in 1948.
http://www.financialexpress.com/news/column-a-long-way-from-a-done-doha-deal/1186328
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CARICOM-CANADA
-CARICOM-USA
-MERCOSUR
Uruguay and Brazil agree Mercosur will make a joint trade proposal to EU next December
Uruguay and Brazil have concluded their proposals to present to the European Union and are waiting for Argentina
and Paraguay, in the framework of current negotiations, delayed for years, to reach a free trade and cooperation
agreement between the two blocs.
http://en.mercopress.com/2013/10/22/uruguay-and-brazil-agree-mercosur-will-make-a-joint-trade-proposal-toeu-next-december?utm_source=newsletter&utm_medium=email&utm_campaign=daily
Cartes and Mujica will address Mercosur and port facilities in Friday's meeting in Montevideo
Paraguayan president Horacio Cartes will be visiting Uruguay next 25 October to meet with his peer Jose Mujica and
a month later will be flying to the Vatican to visit Pope Francis, November 25, announced Foreign minister Eladio
Loizaga.
http://en.mercopress.com/2013/10/22/cartes-and-mujica-will-address-mercosur-and-port-facilities-in-friday-smeeting-in-montevideo?utm_source=newsletter&utm_medium=email&utm_campaign=daily
EU/ ACP
-Regional
(NB. Watch the Caribbean Media Corporation (CMC) News Brief via this link)
Know the rules of the Caricom treaty, senator tells artistes
MINISTER of Foreign Affairs and Foreign Trade A J Nicholson says local artistes must ensure that they understand
the specific requirements of other Caribbean Community (Caricom) states in which they intend to perform. Stating
that his ministry is aware of some of the challenges that the entertainers face, Senator Nicholson said efforts are
being made to address them.
http://www.jamaicaobserver.com/news/Know-the-rules-of-the-Caricom-treaty--senator-tellsartistes_15283717
Increased Fine for Persons Who Seek CARICOM Qualifying Certificate Illegally
Persons, who seek to obtain CARICOM (Caribbean Community) Qualifying Certificates illegally, can now be fined up
to $1 million and/or be imprisoned for up to 12 months.
http://www.jis.gov.jm/news/leads-105/35389
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ECCB Hosts FIM Business Symposium And Innovation Forum
Over 200 business executives and senior managers, business owners, entrepreneurs and officers from educational
institutions from across the Eastern Caribbean Currency Union (ECCU) gathered for the 2013 Financial Information
Month Business Symposium and Innovation Forum on 22 October.
http://www.thestkittsnevisobserver.com/2013/10/18/fim-business.html
USVI visa waiver likely for Caricom nationals
There has been bi-partisan support in Washington for a visa-waiver for nationals of the Caribbean Community
(Caricom) visiting the United States Virgin Islands (USVI), Governor John P De Jongh has said. “I have the support
of the House to include the Republicans and Democrats, so now it’s just the right vehicle to get the legislation
passed,” De Jongh told journalists on the final day of the Caribbean Tourism Organisation (CTO) State of the
Industry Conference in Martinique.
http://www.antiguaobserver.com/usvi-visa-waiver-likely-for-caricom-nationals/
No Support!
A leading Caribbean intellectual has criticised the Caribbean Community (CARICOM) for doing little to help to drum
up support for a proposed Decade of People of African Descent.
http://cananewsonline.com/news/92954-no-support.html
Lok Jack GSB signs MoU with Caribbean Shipping Association
The Memorandum of Understanding (MoU) between the Arthur Lok Jack Graduate School of Business (Lok Jack
GSB) and the Caribbean Shipping Association (CSA) was one of the hallmark agenda items of the 43rd Annual
General Meeting and Conference of CSA. The signing of the MoU took place on October 7, 2013 (1st day of the
three-day conference) at the Sheraton Hotel in Panama. Both institutions signed the MoU that brings to the CSA the
online Master of Port and Maritime Management Programme offered by the Lok Jack GSB.
http://www.trinidadexpress.com/business-magazine/Lok-Jack-GSB-signs-MoU-with-Caribbean-ShippingAssociation-228883131.html
Regional governments should honour their commitments, says Suriname women's group official
Regional governments should fulfill obligations their officials subscribe to at meetings and conferences with interest
groups in the region, Kenya Pansa representative of Sunrop, the Suriname chapter of the Caribbean Network of
Rural Women Producers (CANROP), said in an interview.
http://www.caribbeannewsnow.com/headline-Regional-governments-should-honour-their-commitments%2Csays-Suriname-women%27s-group-official18257.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CaribbeanNewsNowDa
ilyHeadlines+%28Caribbean+News+Now!+Daily+Headlines%29
World
EU sees upcoming economic, trade talks with China as important opportunity
The European Commission (EC) said Tuesday that the upcoming economic and trade talks with China would be an
important opportunity to improve their economic and trade relations. The EC and China will "continue their close
working relationship with the fourth High Level Economic and Trade Dialogue (HED) taking place on Oct. 24 in
Brussels," the EC said in a statement on its website.
http://www.globaltimes.cn/content/819653.shtml#.Umf1-FM4SO4
EU to resume membership talks with Turkey
European Union governments agreed on Tuesday (22 October) to hold a new round of accession talks with Turkey
on 5 November, after Germany dropped its opposition voiced after Ankara's crackdown on anti-government protests
earlier this year.
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http://www.euractiv.com/enlargement/eu-resume-membership-talks-turke-news-531244
One trade deal—two perspectives
A few dozen people were enthusiastically chatting next to the podium in the European Commission’s large press
room in Brussels on Oct. 18, where Prime Minister Stephen Harper and Commission President José Manuel Barroso
were due to make an important transatlantic trade announcement.
http://www.embassynews.ca/news/2013/10/22/one-trade-deal%E2%80%94two-perspectives/44686
See Also:
Trade watchers eager for deal’s text
Non-tariff barriers need to be resolved before the agricultural industry can reap the benefits of a future trade deal
between Canada and the European Union, says an industry representative. “If we don’t solve these problems then
this new market access won’t amount to a hill of beans,” said Kathleen Sullivan, executive director of the Canadian
Agri-food Trade Alliance. Ms. Sullivan said the next couple of years would be about trying to break down non-tariff
barriers when it comes to exporting goods like beef. She joins trade analysts who are awaiting details on rules of
origin and how non-tariff barriers will be addressed in the Canada-Europe Union free trade deal.
http://www.embassynews.ca/news/2013/10/22/trade-watchers-eager-for-deal%E2%80%99s-text/44687
Entrepreneurs, former officials call for resuming China-US investment treaty talks
Chinese and American business leaders and former officials on Tuesday called for the China-US talks on signing a
bilateral trade and investment treaty to be resumed. The call was issued in a joint statement released after the fifth
annual China-US CEO and Former Senior Officials’ Dialogue held at the US Chamber of Commerce headquarters in
Washington D.C. Several top US government incumbents also attended the two-day discussions.
http://www.bilaterals.org/spip.php?article24046
Other
Thirty-two years strong
Thirty-two years can be regarded as a significant amount of time for one to measure the success or failure of any
form of achievement. Whether the undertaking has been approached from a personal, business, group or national
standpoint, that timeframe is more than an adequate milestone to evaluate any venture with a view to determining the
way forward.
http://www.antiguaobserver.com/thirty-two-years-strong/
Economic Development Unit on stream ‘next year’
http://www.thenassauguardian.com/index.php?option=com_content&view=article&id=42648&Itemid=2
Casinos Target 20,000 Job Boost Via Reforms
The Bahamas could enjoy “anywhere from a 25-30 per cent increase” in stopover visitors by passing the casino
gaming reforms currently before Parliament, and create more than 20,000 new jobs. Robert Sands, Baha Mar’s
senior vice-president of governmental and external affairs, said the Bahamian casino industry was still projecting that
the modernisation ushered in by the reforms would triple its top-line revenues.
http://www.tribune242.com/news/2013/oct/22/casinos-target-20000-job-boost-via-reforms/?news
Barbados feels the heat over deteriorating finances
Barbados is battling to avoid becoming the latest Caribbean country to fall into the cool embrace of the International
Monetary Fund after a failed $500m bond sale triggered political confrontation and exacerbated concerns over the
nation’s solvency.
http://www.ft.com/cms/s/0/c8f9638a-3b2a-11e3-87fa-00144feab7de.html#axzz2iYqKXWpJ
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Enabling Environment a Must for International Business
An enabling and sustainable environment must be created by Government, for investors. This assertion was made by
Minister of International Business, Donville Inniss during a reception yesterday at Royal Westmoreland for the launch
of International Business Week.
http://gisbarbados.gov.bb/index.php?categoryid=9&p2_articleid=11458
Tourism concessions
The Barbados Government, which is taking over Almond Beach Village, in St Peter, today outlined a series of
concessions it was giving to Sandals International Resort to manage the near 400-room hotel and purchase Couples
in Dover, Christ Church.
http://www.barbadostoday.bb/2013/10/22/tourism-concessions/
Foreign reserves decline should cease: Central Bank Governor forecasts increase in foreign inflows
THE Central Bank of Barbados is projecting an increase in foreign inflows that could halt the decline in the country’s
reserves.
http://www.barbadosadvocate.com/newsitem.asp?more=business&NewsID=33022
Zero growth
The Barbados Economy has shown no growth this year for three consecutive quarters, but the Central Bank is
pinning a turnaround on a number of tourism and construction projects to eke out some growth by 2015.
http://www.nationnews.com/articles/view/zero-growth1/
Fiscal hole
Barbadians will have to wait until at least another two years to see any pickup in economic growth, even as the
country’s worrying fiscal deficit widened by $117 million and the crucial foreign exhange reserves record a decline of
$447 million during the first nine months of this year.
http://www.barbadostoday.bb/2013/10/22/fiscal-hole/
Handbook on Productivity Launched
Barbadians now have a new ‘tool’ to help them understand productivity. The Productivity Council launched a
handbook – Getting Everyone to Understand Productivity – last evening during a reception at Baobab Tower,
Warrens, St. Michael.
http://gisbarbados.gov.bb/index.php?categoryid=9&p2_articleid=11460
Argentina signs with Belize a South/South cooperation agreement in several fields
As part of Argentina's foreign policy to increase links and cooperation with the Caribbean, Foreign minister Hector
Timerman and his peer from Belize, Wilfred Elrington signed a South to South cooperation agreement which covers
several fields and opens trade opportunities.
http://en.mercopress.com/2013/10/23/argentina-signs-with-belize-a-south-south-cooperation-agreement-inseveral-fields?utm_source=newsletter&utm_medium=email&utm_campaign=daily
BELIZE: Belize Medical Tourism Association formed
The new Belize Medical Tourism Association seeks to promote medical tourism to Belize and eventually end the
practice of Belizeans going abroad for medical care. The association has members from the medical and tourism
sector. It sees medical tourism as an opportunity for medical practitioners and wants more members of the Belize
Medical and Dental Association to join. Foreigners have been accessing medical services in Belize for years but in
an ad hoc manner. Now, Belize will be marketed internationally as a destination for medical tourism. Patients will be
offered packages that include medical services, hotel accommodation and tours.
http://www.imtj.com/news/?entryid82=429615
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Cuba to scrap two-currency system which helped creation of a two-tier class system
Cuba is to scrap its two-currency system in the latest financial reform rolled out by President Raul Castro, official
media report. Since 1994 Cuba has had two currencies, one pegged to the US dollar and the other worth only a
fraction of that. The more valuable convertible peso (CUC) was reserved for use in the tourism sector and foreign
trade. Now its value will be gradually unified with the lower-value CUP, ending a system resented by ordinary
Cubans.
http://en.mercopress.com/2013/10/22/cuba-to-scrap-two-currency-system-which-helped-creation-of-a-twotier-class-system?utm_source=newsletter&utm_medium=email&utm_campaign=daily
See Related:
Official Note on the Process of Monetary Unification in Cuba
http://www.ain.cu/idiomas/Ingles/2013/1022Officia-%20Note.htm
More Americans are traveling to Cuba
American tourism to Cuba — tightly restricted for more than 50 years — is on the upswing, a new report shows. But
Americans are a trickle compared with the torrent of Canadians.
http://www.latimes.com/travel/deals/la-trb-more-americans-traveling-cuba20131018,0,5691295.story#axzz2iYr1QHDQ
Cuban Council of Ministers Meeting Focuses on Economic Issues
Army General Raul Castro Ruz, President of the Councils of State and Ministers, led Saturday the Cabinet meeting
that focused on issues vital to the country's economy.
http://www.ain.cu/idiomas/Ingles/2013/1022Ministers-Meeting.htm
Walter wants private sector involvement in agriculture
Agriculture Minister Matthew Walter is calling for the private sector to become more involved and invest meaningfully
in the Agricultural sector. Speaking at a press conference on Monday he said there is a demand both locally,
regionally and extra-regionally for Dominican produce.
http://dominicanewsonline.com/news/homepage/news/agriculture/walter-wants-private-sector-involvementagriculture/
Many fearfully wait to see court ruling's impact on their status in Dominican Republic
In a house with no running water surrounded by vast stretches of sugar cane, Abelinda Yisten Debel studies for a
high school graduation exam she might not be allowed to take.
http://www.foxnews.com/world/2013/10/23/many-fearfully-wait-to-see-court-ruling-impact-on-their-status-indominican/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxnews%2Fworld+%28
Internal+-+World+Latest+-+Text%29
See Also:
Dominican Republic out of step
http://www.stabroeknews.com/2013/opinion/editorial/10/23/dominican-republic-step/
World Bank In Grenada to Support Grenada’s Home Grown Programme
A team of World Bank Officials is in Grenada to conduct an identification mission in preparation for a Development
Policy Loan (DPL) under its Comprehensive Debt Framework (CDF) for Grenada.
http://www.gov.gd/egov/news/2013/oct13/22_10_13/item_1/world_bank_grenada_support_grenada_home_gr
own_programme.html
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Grenada Readies For Cruise Season
The first cruise ship of the season is set to arrive in Grenada on Oct. 30, and the country’s government is making
sure the island is ready to receive it. The country recently hosted its fifth annual Tourism Safety and Security Meeting
at the Grenada Board of Tourism, with tourism officials, police and members of the GBT gathering to discuss issues
relating to the safety and security of the island in advance of the cruise season.
http://www.caribjournal.com/2013/10/21/grenada-readies-for-cruise-season/
Procurement officers trained to handle big development bank-funded projects
Procurement Officers are now expected to be better prepared to assess bids for huge multi-million dollar contracts
that are funded by development banks like the Inter American Development Bank (IDB).
http://www.caribnewsdesk.com/news/6776-procurement-officers-trained-to-handle-big-development-bankfunded-projects
Gov’t ‘crying wolf’ on anti-money laundering law -Professor Thomas
Professor Clive Thomas is accusing the government of “crying wolf” over the anti-money laundering amendments
after it has failed to apply almost three quarters of the provisions in the current law.
http://www.stabroeknews.com/2013/news/stories/10/23/govt-crying-wolf-anti-money-laundering-law/
Casino resort bids delayed
The Ministry of Finance has extended the deadline for submission of proposals for casino resorts to sometime in
November and met with potential bidders last Wednesday to discuss the status of the project.
http://jamaica-gleaner.com/gleaner/20131023/business/business4.html
Customs reports J$1 billion decline duties from cigarette imports
The Customs Department is reporting a J$1 billion decline in duties collected from cigarette imports. Year-to-date
figures show domestic importation of cigarettes was down 31 per cent or 94.5 million sticks.
http://rjrnewsonline.com/business/customs-reports-j1-billion-decline-duties-from-cigarette-imports
Gov't to implement electronic tendering system
As part of efforts to strengthen the efficiency and quality of the public procurement process, thereby improving the
ease of doing business, the Jamaican Government will implement an electronic tendering system, to be acquired
within the last quarter of the current fiscal year.
http://jamaica-gleaner.com/gleaner/20131023/business/business6.html
Waiting to inhale
WE are still waiting to hear good news about the bauxite industry. Good news for most Jamaicans means the
reopening of the Windalco Kirkvine alumina plant in Manchester and/or the much larger Alpart plant in St Elizabeth.
http://www.jamaicaobserver.com/columns/Waiting-to-inhale_15282974
Debt-to-GDP ratio: an insurmountable task
The Inter-American Development Bank (IDB) issued their quarterly briefing last week, personifying our economic
issues, headlining that Jamaica has hill behind the hills, indicating problems beyond problems. Despite attempts at
fiscal reform, debt exchange and reduction in interest rates, Jamaica's debt-to-GDP ratio remains one of the highest
in the world at more than 140 per cent. The Jamaican Government, under programming from the International
Monetary Fund (IMF), wants to reduce the debt-to-GDP ratio to 100 per cent of GDP by 2020, but face an
insurmountable task.
http://jamaica-gleaner.com/gleaner/20131023/news/news1.html
Are IMF policies workable in our economy?
On May 21, 2013, the International Monetary Fund (IMF) approved a US$932 million loan to Jamaica under its
Extended Fund Facility (EFF). According to the IMF, this EFF loan was to be used over a two-year period to, "help
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create the conditions for sustained growth" by creating "a significant improvement" in Jamaica's fiscal situation. The
latest news from the IMF suggests that Jamaica has met the proscribed target. Does this good news mean that we
can soon stop depending on foreign loans?
http://jamaica-gleaner.com/gleaner/20131023/cleisure/cleisure2.html
St. Kitts and Nevis showcased at Taipei's International Travel Fair
St. Christopher (St. Kitts) and Nevis, a Caribbean country with weather that is like spring all year round, joined the
Taipei International Travel Fair (Taipei ITF) on [Sunday, October 20], to warmly invite you to visit the stunning natural
beauty and historical heritage of the nation.
http://www.sknvibes.com/news/newsdetails.cfm/80528
St Lucia Launches National Competitiveness and Productivity Council
St Lucia’s government has officially launched the new National Competitiveness and Productivity Council. St Lucia
Prime Minister Dr Kenny Anthony, who was the featured speaker at the council’s inaugural meeting, said the council
brought to the fore “the uncomfortable truth that increase in wages in Saint Lucia, has not resulted in a
commensurate increase in productivity.”
http://www.caribjournal.com/2013/10/23/st-lucia-launches-national-competitiveness-and-productivity-council/
Investors confidence in T&T Is weak
Trinidad and Tobago’s economic freedom score is 62.3, making its economy the 72nd freest in the 2013 Index. Its
score is 2.1 points lower than last year, with declines in six of the 10 economic freedoms including financial freedom,
business freedom, the control of government spending, and freedom from corruption. Trinidad and Tobago is ranked
14th out of 29 countries in the South and Central America/Caribbean region.
http://www.trinidadexpress.com/business-magazine/Investors-confidence-in-TT-Is-weak-228883531.html
Increased Labour Productivity
In his Inaugural Independence Day speech, Trinidad and Tobago’s first Prime Minister, Dr Eric Williams highlighted
the importance of labour and its impact on the national economy. The country’s watchwords, Discipline, Production,
and Tolerance still echo the significance of the worker in the development of our society. In its simplest definition
labour productivity measures the amount of output produced by given a labour input. Labour productivity can be used
as a gauge for several economic indicators as it offers a dynamic measure of economic growth, competitiveness, and
living standards within an economy.
http://www.trinidadexpress.com/business-magazine/Increased-Labour-Productivity-228883371.html
Howai: Economy will be strong next year
Finance Minister Larry Howai has a lot of optimism for Trinidad and Tobago’s economy in the near future. It may
have a lot to do with the planned construction of the Mitsubishi methanol to petrochemicals plant.
http://www.trinidadexpress.com/business-magazine/Howai-Economy-will-be-strong-next-year228883921.html
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