ST. LUCIA – Saint Lucia is making progress on plans to establish an Economic Union among countries of OECS. The task force charged with engaging public discussion on the issue recently held a symposium to deliberate on the way forward.
Prime Minister of Saint Lucia, the Honourable Stephenson King said in light of the tremendous accomplishments of the Eastern Caribbean Central Bank, the region feels comfortable with the prospect of an economic union.
Honourable Stephenson King
Prime Minister of Saint Lucia
“The Eastern Caribbean Central Bank, as it is very well known, has not only been a stable institution within the OECS region, but it is a very reputable and respected institution in the OECS region, and probably in the world. We as OECS member territories are very proud of the successes and of the success stories of the Central Bank,” said Prime Minister King.
The Eastern Caribbean Supreme Court (ECSC), the Eastern Caribbean Telecommunications Authority (ECTEL), and OECS Civil Aviation Authority (ECCAA), King said, are also sterling examples of sub-regional collaboration. The Prime Minister also commended the units of the OECS, such as the Pharmaceutical Procurement Service (OECSPPS) for their contributions to improving the lives of OECS citizens.
“What we expect to see, is a build-up on these successes. We hope to add the following to our list of accomplishments—the many accomplishments which I have indicated earlier on. The question of free movement of all classes of labour is one that the sub-regional unit continues to look forward to. The free circulation of all commodities, both of domestic and non-domestic origin,” said the prime minister.
The economic union, the prime minister said, will create a highly evolved system of policy coordination and harmonization to establish joint systems to address similar issues and attain similar objectives in the face of globalisation and trade liberalization.
