St Kitts - Nevis Hosts Signing of OECS Treaty

2009-12-26 15:09:11 by

On Dec. 29, the signing of the new treaty of the Organization of Eastern Caribbean States (OECS, that will establish a single economy among group members, will be held on St Kitts. The agreement will define the structure and functioning of the economic union between the nine members of the organization, and will help identify the steps towards its final establishment, which is scheduled for June, 2010.

The treaty will allow for the free movement of services, people, goods and capital throughout the area of the 9 countries. It will also facilitate action in the fields of justice, foreign affairs, public administration, cooperation and management of human and natural resources.

Created in 1981 to promote regional cooperation and economic integration, OECS is made up of these countries: Antigua and Barbuda, Dominica, Grenada, St. Vincent and the Grenadines, Montserrat, Anguila, British Virgin Islands, St. Lucia, and St. Kitts and Nevis.