Encouraging results for Inaugural Meeting of the Council of OECS Trade Ministers

Castries, April 9, 2015.- Momentum built and priorities identified in achieving the objectives of the OECS Economic Union: the thoughts among participants at the just ended inauguration of the Council of OECS Ministers for Trade, held on March 30, 2015, in Saint Lucia.

Chaired by Dominica’s Trade Minister Ian Douglas, the Council of OECS Ministers for Trade discussed pertinent matters towards advancing the implementation of key regimes of the OECS Economic Union. These include the Free Circulation of Goods Regime. Noting the importance of such a regime, the council held spirited discussions on the realities of the small vulnerable economies of OECS Member States who are dependent on revenue from trade taxes and the relative key considerations that must be made.

The agenda also featured issues governing Article 164, the seven-year CARICOM-Canada Negotiations, OECS priorities in the WTO, including the Doha Development Agenda and CARICOM-Cuba Trade and Economic Cooperation Agreement.

A clear theme was the need for collectivism and cooperation in the approaches to be undertaken in trade relations. The chairman Douglas articulated this in his Feature Address: “In this dynamic global environment we have to contend with larger and stronger economies within the World Trade Organization (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”.

Ms. Vriginia Paul, who heads the OECS Trade Policy Unit, reminded Ministers that as custodians of policy the onus is on them to define the strategic path of OECS economies in relation to trade. Ministers were further reminded that their decisions affect the lives of OECS nationals, the ultimate beneficiaries of the Revised Treaty of Basseterre.

The meeting renewed the vigour and commitment of Ministers to ensuring that the objectives of the OECS Economic Union are achieved and the Member States effectively position themselves to capitalise on the opportunities presented under various trading arrangements.

Recognising the work to be undertaken, the Council of Ministers of Trade decided to convene meetings at least twice per year.