Elizabeth Morgan is a specialist in international trade policy and international politics. This visit was postponed. Caribbean production had also declined. This, because of its unilateral nature, requires a Most Favoured Nation (MFN) waiver at the WTO. Elizabeth Morgan | CARICOM heads: Addressing trade and economic issues . There was quite a bit of activity around the Free Trade Area of the Americas negotiations, which were abandoned in 2005. On investments, Barbados and Trinidad and Tobago have investment treaties with Canada. The CARICOM-Venezuela Trade Agreement was concluded in 1992, the CARICOM-Colombia trade agreement in 1994, and CARICOM-Costa Rica in 2004. The volume of merchandise trade between CARICOM countries and Canada is actually quite low. So far, it seems plantation white is mainly produced in Belize.Reading through various regional newspapers, sugar seems to be an industry limping on crutches. Trade in services is shown in Canadian statistics as concentrated on travel, commercial services, transportation and government services.
Canada is a development partner whose support within the region is focused on disaster preparedness, climate change, women’s empowerment, security, integration, the energy sector, and current COVID-19 response, among other things. These remaining Caribbean sugar producers, members of the Sugar Association of the Caribbean (SAC), are now seeking to supply the regional domestic markets. These prime lands should not become mainly housing schemes and golf courses, especially as the analysts are pointing to the need to further diversify the economies and to focus on food security and exports.Sugar has been the oldest integrated industry in the Caribbean, from the cultivation of sugar cane to the production of brown sugar, molasses and rum.
Elizabeth Morgan says there is an indication now that countries have been attempting to increase agriculture production and CARICOM heads have endorsed the aim to reduce the food import bill. From available information, Canada’s level of investments into the CARICOM region since 2015 also seems very low.
A few countries marked it on Monday, August 3. Sugar is primarily the reason the Commonwealth Caribbean commemorated Emancipation Day over this weekend, August 1, 2020. If it cannot be saved elsewhere scaled down, my hope is that the lands will be fairly and properly allocated to agriculture – and not in tiny plots. In both, strengthening regional integration, including food security, were considered necessary for the region’s recovery and future development. Canadian investments into Jamaica between 2015 and 2019 were valued at US$410.1 million. I referred to the history of the CARICOM-Canada trading relationship in my article of May 28, 2019, titled ‘CARICOM-Canada: Know your Friends’, and examined the diaspora relationship in my article of June 19, 2019, titled ‘A United Caribbean Diaspora?’ From the latter, you may recall that there are approximately 800,000 persons of Caribbean origin residing in Canada with the majority, over 300, 000, from Jamaica. The best-known refinery now is Tate and Lyle, established in 1859.After nearly 370 years, sugar cane cultivation and sugar production are definitely at a crossroads in the Commonwealth Caribbean. Under the administration of Prime Minister Trudeau, Canada’s trade policy is based on its commitment to multilateralism, supporting reform of the World Trade Organization (WTO); implementing its trade diversification strategy aimed at increasing exports by 50 per cent by 2025; and ensuring that the benefits of trade are inclusive of all segments of society through public consultations and provisions that protect and strengthen labour and the environment, advance gender equality and women’s empowerment, consider the interest of small and medium-sized enterprises (SMEs), and indigenous peoples.
CARICOM/CSME: Private Sector Representation Kendol Morgan Nov 14, 2019 0 By Elizabeth Morgan On November 5, Prime Minister Mia Mottley of Barbados, who has lead responsibility in the quasi-Cabinet for the CARICOM Single Market and Economy (CSME), hosted a regional town hall meeting on the CSME. Its health benefits may be doubtful – we certainly consume too much of it – but there remains a demand for sugar and, in fact, for ethanol and rum.
At the beginning of 2020, Canadian banks (Scotia, Royal Bank of Canada, and Canadian Imperial Bank of Commerce) had restructured or withdrawn from several CARICOM countries. The MFN waiver for CARIBCAN was renewed at the WTO up to 2023. Having looked at CARICOM’s trading relationship with the USA, Africa, Europe and Latin America, I thought that this week, I would focus on Canada. Email feedback to columns@gleanerjm.com. Sugar is still in demand for consumption by households and in manufacturing, but two-thirds of sugar consumed in the Caribbean is now imported.
In 2019, Canada remained in the world’s top ten (10) economies. With the coming of the British into the Caribbean in 1625 to Barbados, and later to Jamaica in 1655, the production of sugar increased, as did the number of enslaved African people to provide chattel labour. Appleton recently announced its intention to cease producing sugar.Regarding rum, with sugar production levels falling and the volume of rum produced increasing, for many years now, most of the molasses used have been imported, requiring the redefining of ‘Caribbean’ rum.I am not among those who think that because sugar was linked to slavery, it has no more value and should be abandoned.
In financial services, Canadian banks dominated in Caribbean commerce since 1864, beginning with the Royal Bank of Canada, followed by the Bank of Nova Scotia. The Canada-CARICOM Joint Trade and Economic Committee (JTEC), linked to the 1979 Canada-CARICOM Trade and Economic Cooperation Agreement, has been dormant since 2002.
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