INAUGURAL SESSION OF OECS COUNCIL OF TRADE MINISTERS HAILED AS TIMELY

Castries, March 31, 2015.- The inaugural session of the OECS Council of Trade Ministers is regarded as a timely intervention which strengthens efforts by the OECS to navigate the global fiscal challenges effectively. That’s among the views of participants in the historic meeting which opened in Saint Lucia yesterday.

Saint Lucia’s Trade Minister Alva Baptiste encouraged the established council to set the foundation that provides the impetus necessary to implement common trade practices compatible with external relations.

The chairman of the OECS Council of OECS Trade Ministers Hon. Ian Douglas highlighted the revised treaty of Basseterre as a frame work through which greater economic cooperation can be achieved: “In this dynamic global environment we have to contend with larger and stronger economies within the WTO for example but we the Member States of the OECS stand firm in our commitment to move as one collective entity; we must therefore be strategic in our actions, united in our efforts and resolved in our approaches to advance the priorities of the OECS. This meeting represents the first of its kind for the Council of Ministers of Trade and I plan to ensure that it meets its objectives and sets the pace for many more such meetings to come”.

This meeting of the OECS Council of Trade Ministers will serve as a forum for Ministers to discuss matters regarding trade policy and related issues.

The Council of Ministers is one of the five principal Organs of the OECS, established under Article 7 of the Revised Treaty of Basseterre Establishing the OECS Economic Union. In undertaking its functions, the Council of Ministers can make decisions that are binding on all Member States and Organs, with the exception of the OECS Authority.

Following the meeting, recommendations are presented to the OECS Authority for consideration. The OECS Authority is the highest decision making body of the regional integration movement.

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