News: East Caribbean for Economic Union

(PL 29/03/2006) Basseterre - Organization of Eastern Caribbean States leaders (OECS) are clinching a declaration to set an Economic Union Treaty and strengthen sub-regional integration.

They have agreed on the need to have a body that protects their interests and takes into account the existing differences among them and other CARICOM partners.

The document, to be signed June 21 in Basseterre on the occasion of the 25th anniversary of the OECS, must be ratified by all member states before the Economic Union takes effect.

The OECS´s unification is fundamental for the bloc´s entry into the Caribbean Single Market June 30.

As part of the 25th anniversary celebrations, the OECS flag will be raised for the first time at the Eastern Caribbean Central Bank headquarters.

This will be site for meetings among executives of the body and international development agencies from June 18.