Dominica has become the second member of the Organisation of Eastern Caribbean States (OECS) to ratify the treaty establishing the OECS Economic Union.
OECS heads formally signed the treaty in Castries, St. Lucia in June 2010, but ratification must become the next step in order for the economic union to be a part of countries’ law.
The initiative is to bind member states as a more unified body to allow each one to better confront international challenges such as the financial downturn, and to create a single financial and economic space.
Antigua and Barbuda was the first of the OECS states to ratify the treaty and now the Dominica cabinet has ratified the accord, OECS Ambassador, Dominican Charles Maynard, has disclosed.
He described the move as a “very significant step”.
“The OECS countries are blazing a new trail. In fact, it is interesting how a number of international bodies have sought to have relations with the OECS,” he said.