OECS moves closer to indicative date for operations of Economic Union

Prime ministers of the OECS countries at the signing of the Economic Union. Dominican Prime Minister Roosevelt Skerrit is seated third from left.

On June 18, 2010, the OECS Member States of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines signed the Revised Treaty of Basseterre Establishing the OECS Economic Union, in order to pave the way for the deepening of OECS integration.

The Revised Treaty will replace the Treaty which established the OECS in 1981 and will, significantly create the economic union as a single financial and economic space.  Also on June 18, 2010, the OECS Authority agreed that January 21, 2011 would be the indicative date for commencement of the operation of the economic union.

In order for the Revised Treaty to enter into force at least four independent OECS Member States must ratify the Treaty.  Ratification is the process by which a country indicates that it intends to be bound by an international agreement such as a treaty or convention.

Since June 2010, Member States, with the support of the OECS Secretariat, have been working towards realization of the January date by carrying out national processes towards ratification, including discussions by national Parliaments or Legislatures and Executives.

In addition to this, the Rules governing the operation of the Organs of the Organisation have been drafted for Member States to consider with a view to endorsement.  These Organs, being the Authority of Heads of Government of Member States, the Council of Ministers, the OECS Assembly, the Economic Affairs Council and the OECS Commission, will be expected to operate under the new Treaty once it comes into force.

To date the Rules have been discussed and refined by Member States’ Chief Parliamentary Counsel, Attorneys General and senior representatives.

The OECS has also been working towards completing and improving arrangements for the facilitation of travel between Member States as well as towards agreeing the framework for the free movement of nationals, the free circulation of goods and the facilitation of trade.

To support financing of work programme for establishment and implementation of the economic union, significant assistance has been allocated to the OECS by its development partners, in particular, the European Union, the Canadian International Development Agency (CIDA) and the United Nations Development Programme (UNDP).  This assistance targets economic integration and trade; capacity building of the Secretariat; improvement of IT capability, particularly videoconferencing; support for regional tourism and agriculture programmes and for the private sector; as well as public education.

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10 Comments

  1. President.
    December 21, 2010

    Thats the way to go. Caricom is a waste of time. there are hardly even oecs players on the WEst indies cricket team. We need to have our own system in place even when countries like trinidad and barbados is treating us like crap.

  2. Fairplay
    December 21, 2010

    Our Passports should have ‘O.E.C.S.Community’ instesd of ‘Caribbean Community’.

  3. OLT
    December 21, 2010

    OECS Economic Union will be much more significant and benefitial for the small Island states than CARICOM. Go OECS!

  4. DAGIF
    December 21, 2010

    After all ; don’t you all see that it makes more sens ( for DA ) being a member of the OECS, having the same language, same culture, same history, same environment, etc … still having friendly partnership with EU, USA, Canada, …

    rather than being a member of this ALBA organisation, led by a spanish speaking crazy dictator ( Chavez) whose sole intention is to ( indirectly) take control all these Caribbean states and turn all of them against these democratic partners ?

    DA must remain a free, sovereign and democratic nation, respecting human rights, free speech, and must live in peace with all other democratic states in the world.

    This is possible with the OECS ; not with the ALBA

    Dagif

    • OLT
      December 21, 2010

      You are confused…apples and oranges..do a little research on what u commenting on.

      • BossLa
        December 21, 2010

        So true OLT. Some people are brainwashed into believing that the USA was God’s gift to this earth.

  5. G78
    December 21, 2010

    Why must we always be so negative. Jesus Christ man.

    If Economic Union wasn’t good why would the EU be formed with all those “big” European countries with their economies that supporting us now? You think England still owing us after all this time because we think they “rape” us of our resources? Man to each his own. We as an independent nation can only pray we continue to get “grants” etc. as long as we don’t pay too much money on the loan parts.

    See how Ireland and now Portugal bailing out of “hard” times with the strength of the other EU nations. Man any free “money” without “payment terms” and mandatory “voting” in the UN is OK with me.

    • only
      December 21, 2010

      They won’t be able to bail out. Bail out time is over. All the banks in Ireland are for sale. Guess who will pick them up?

    • only
      December 21, 2010

      If they really want to do something beneficial for the Caribbean, they will insulate their money, EC, and not have it tied to any other currency because when the euro and dollar are crashed on purpose, you don’t want to be going down with them.

  6. only
    December 20, 2010

    Doesn’t sound good to me because of who they are in bed with. Money isn’t free. There are no free handouts.

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