Search Results for: Caribbean

BY this time next year, there could be as many as 30 garment manufacturing factories that are owned and operated by Asia-based companies in Haiti, according to Georges Sassine, president of the Association des Industries d’Haïti (ADIH).

The Caribbean country has seen an influx of Asian-owned businesses since early 2017 and Sassine said there are presently almost 20 such garment factories in Haiti.…

THE IMPENDING December 1 expiration of the Dominican Republic Earned Import Allowance Program (DR 2-for-1 or EIAP) has been met with equanimity by the Caribbean country and its manufacturers who hope the trading relationships created by the system can expand.

With the CAFTA-DR (Central America-Dominican Republic-United States Free Trade Agreement) continuing, the Dominican deputy minister of foreign trade Yahaira Sosa said in a recent speech: “Although not everything has gone as planned, regarding… exports and attraction of foreign direct investment (FDI), there are points that deserve to be highlighted.”…

GARMENT manufacturing industry insiders in Haiti are optimistic that their sector can continue expanding in size, as long as the Caribbean country’s government delivers economic and social stability. This is not a given in Haiti, which has suffered from serious political instability since the dictatorial regime of former President Jean-Claude Duvalier (called ‘Baby Doc) was overthrown in 1986.…

THE HONDURAS clothing sector industry association has welcomed the expansion of the Central American Customs Union into a three-country bloc, with El Salvador joining Guatemala and Honduras to forge a light border trading zone of more than 32 million people. El Salvador will officially accede to the union (see below for more information) in November, allowing 95% of products manufactured in its members to freely circulate in the region duty free through common customs, security, and other rules, strengthening local supply chains.…

CONTRACTORS at Sint Maarten’s hurricane-battered airport are battling against the clock to complete major repairs by the start of the new tourist season in November.

Princess Juliana International Airport was one of several across the Caribbean pummeled by catastrophic Hurricane Irma in September 2017.…

An amendment to a UK Sanctions and Anti-Money Laundering Bill requires the British government to impose such registers on its OTs by this deadline, if the local administrations have not created their own. The UK currently has the world’s only public beneficial ownership register – but it only covers England, Scotland, Wales and Northern Ireland – see http://ownershiptransparency.com/…

KNITWEAR is a key part of the growth in clothing manufacturing that is becoming an important part of the economies of several Caribbean countries, providing thousands of jobs and producing apparel worn not only in the region but in the USA, Canada, Europe and elsewhere.…

THE UK parliament has controversially voted to force its overseas territories (OT) to create publicly accessible beneficial ownership registers by December 31, 2020. Critics say the move threatens the financial sectors and will not aid law enforcement. Is that true? Keith Nuthall reports

Listening to the leaders of Britain’s overseas territories, the beneficial ownership amendment to a UK Sanctions and Anti-Money Laundering Bill is a risk to their survival.…

A VOTE by the UK parliament to insist that Britain’s overseas territories introduce publicly available beneficial ownership registers by December 31, 2020, has sparked anger and dismay within these autonomous, mainly small island, jurisdictions.

An amendment to a UK Sanctions and Anti-Money Laundering Bill requires the British government to impose such registers on its OTs by this deadline, if the local administrations have not created their own.…

THE EUROPEAN Union (EU) Council of Ministers has approved a fifth anti-money laundering directive (5AMLD). Its reforms include broadening public access to beneficial ownership information so that the public can learn the name, month and year of birth, country of residence and nationality of beneficial owners, plus the nature and extent of their beneficial interest.…