Volume No. 2 Issue No. 37 - Friday May 2, 2008
OECS launches consultation on Economic Union
Map of the Organization of Eastern caribbean States.
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The Organisation of Eastern Caribbean States (OECS) has taken a major step towards the goal of deepening the integration movement with the formal launch of the public dialogue on an OECS Economic Union, a press release stated.
The public consultations, to be held throughout the nine OECS member states over the next year, will give OECS nationals the opportunity to help shape the proposed economic union by making their input into a draft OECS Economic Union Treaty.
Speaking at the launch in Dominica, that country�s Prime Minister and the current Chairman of the OECS Authority, Roosevelt Skerrit urged a packed gathering at Dominica State House, and a live regional radio audience to �seize the time now� to deepen the integration process as the region�s response to ever increasing challenges to its survival.
He reminded his audience that the region is rapidly being exposed to the harsh realities of reciprocal international trade and cannot forever remain dependent economies receiving special protection and preferential treatment.
He said OECS institutions have a proud record of successfully serving the region�s people and the draft Economic Union treaty offers opportunities for even greater benefits.
OECS Director-General Dr. Len Ishmael used the ceremony to reflect on the emergence of the OECS model of integration over almost three decades, and the greater leverage, meaningful institutions and vital services it has brought the region, despite size.
Dr. Ishmael however said ongoing challenges, many related to small size, point to the need to proceed to further strengthen the integration process at this time.
She said the OECS needs the economic union to, among other things, respond to globalisation and multi-lateral globalisation; to provide a larger domestic market, greater access to technology and capital and greater freedom of movement of different types of labour; and to allow the OECS to pursue its strategic interests.
Head of the OECS Economic Union Task Force, and Governor of the Eastern Caribbean Central Bank Sir Dwight Venner, in addressing the ceremony, recommended that as the process of consultations begin, the collective vision of the sub-region could be �the OECS as a cohesive and coordinated collection of states which are closely integrated politically and economically in order to be an area of peace, tranquility and harmony; where things (infrastructure and utilities) function; service is excellent, both in the private and public sectors, and opportunities abound for personal and entrepreneurial development in a clean and pristine environment�.
Among the key measures proposed in the draft Economic Union treaty is the transferring of legislative responsibility from national parliaments to the OECS Authority in agreed areas to ensure that decisions taken in those areas are binding and automatically enforceable in Member States without having to be referred back to national parliaments.
This pooling of sovereignties will cover the areas of common market and customs union, monetary policy, trade policy, maritime jurisdiction and maritime boundaries, and civil aviation.
The draft Treaty also proposes a governance structure for the new Economic Union which includes two new organs � a Regional Assembly consisting of members of national parliaments, and a commission which represents an expanded and enhanced Secretariat.
The other organs in the proposed structure are the OECS Authority, comprising heads of government, the Economic Affairs Council, the Monetary Council, and Ministerial Councils.
The OECS member states are Antigua/Barbuda, Dominica, Grenada, Montserrat, St. Kitts/Nevis, St. Lucia, St. Vincent and the Grenadines, Anguilla and the British Virgin Islands.
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