St Kitts-Nevis Signs Historic Treaty to Create OECS

2010-06-22 14:23:19 by

Regional heads officially signed a treaty last Friday to establish an economic union for the Organization for the Eastern Caribbean States (OECS). 6 countries were represented - Antigua, Barbuda, Dominica, Grenada, St Kitts-Nevis, St Lucia, St Vincent, and Grenadines. Montserrat will sign later, having just received the go-ahead from the United Kingdom.

As explained in SKNVibes.com, "The revised treaty represents a dawn in economic opportunities, as it will transform the sub-region into a single financial and economic space without barriers to trade between national markets. Joint action in the areas of agriculture, tourism, civil aviation and telecommunication are expected to be a main focus of the treaty.

"The OECS Economic Union builds upon the success of existing regional institutions, including the Eastern Caribbean Supreme Court and the Eastern Caribbean Central Bank."

St. Kitts and Nevis Prime Minister Hon. Dr. Denzil Douglas said at the signing, "This seminal and far-reaching document will stand through history as testimony to our own maturity as a people, and it will stand as a testament of faith?our faith in each other, and of our own collective future. Come, let us step forward boldly to meet the demands of history."