Creation of the economic union as a single economic and financial space. The new oecs economic union treaty was finally presented at the 43rd oecs meeting in st. On 16th december 2009 the government of montserrat wrote to the fco requesting an entrustment to allow the chief minister to sign the treaty of basseterre establishing the oecs economic union. The oecs economic union is intended to expand cooperation into new economic activities, with the cornerstone a single market permitting free movement of labour, trade and capital. The political economy of economic union in the eastern caribbean. The ratification of the new oecs economic union treaty on 21st january 2011 signifies both a new beginning and a potential turning point for the small states of the caribbean. Monetary and economic union implications for the governance and coordination of the attendant nsss. In a sense, the quest for an oecs economic union is a recognition by the oecs membercountries. Treaty establishing the organisation of eastern caribbean. To support values that lead to the attainment of a culture of gendered justice, mutual care, peace and harmony between women, men, boys and girls within households, communities, and institutions in the member states of the oecs economic union.
I have however tweaked it somewhat to become, the economics of nationhood. Oecs revised treaty of basseterre establishing the organisation of eastern caribbean states economic union act cap. Economic integration is the process of removing barriers to trade between national markets in goods, services and factors of production capital and labour. Creation of a single, financial and economic space. Evaluation of existing oecs legislative procedures and the establishment of a road map for going forward 10 5.
Strengthening caribbean regional integration, wp208, january. The treaty includes an annex on the settlement of disputes, and a protocol which formally established the economic union. Economic union treaty was circulated as the heads signed a declaration of intent affirming their commitment to the establishment of the oecs economic union in july 2007. The revised treaty of basseterre rtb established the oecs economic union alongside the 33yearold eastern caribbean currency union eccu and elevated the imperative for regional integration to ultimately foster and accelerate economic, social and cultural development as well. This technical committee was inaugurated on may 4, 2004 and began designing the draft treaty. Member states, acting in close collaboration with the institutions of the community, shall coordinate their respective economic policies to the extent that is necessary to attain the objectives of this treaty. The third section makes recommendations on the treaty arrangements necessary for the establishment of an economic union among oecs members states. A revised treaty of basseterre to establish the oecs economic union was ratified on 18th june 2010. The oecs member states, with a combined population of approximately 639,331 undp. Dr len ishmael is the director general of the organisation of eastern caribbean states oecs the oecs. The new treaty has as its purpose article 4, an overriding objective, that is, the establishment of an economic union of the organisation of eastern caribbean states as a single financial and economic space and identifies the organisation as an institutional forum to discuss and facilitate. The faq provides a basic overview of the treaty as well as information about the functionality of the organization and initiatives within the organization. Oecs development strategy eastern caribbean central bank. In turn, an oecs economic union will necessarily demand that an expressed special place be carved out for it within the revised treaty of chaguaramas of caricom.
Treaty on the eurasian economic union united nations. Recognising health as an economic contributor and a driver of investor and visitor confidence in our region. Organisation of eastern caribbean states wikipedia. Like the other oecs countries, antigua and barbuda belongs also to caricom and the. This will improve the ability of the oecs to access global funding for climate change resilience and direct foreign and local investment towards inclusive and. It is the result of a combined effort on the part of the general secretariat of the council and of. The topic which i will deal with today is the oecs economic union. Treaty of basseterre 1981 means the treaty establishing the organisation of eastern caribbean states done at basseterre on 18 th june 1981. The first analyses the treaty of basseterre explaining the origins, rationale and nature of the treaty. The islands of the oecs now find themselves at the crossroads of their economic history. This new treaty replaces the 1981 treaty of basseterre. Passengers arrive from outside the oecs economic union. Jan for 2011 oecs economic union business jamaica gleaner.
Members of the oecs are involved in a number of subregional, regional and interregional agreements i. I am aware that honourable members are fully knowledgeable of the contents of the treaty which established the union, as. Click the below titles to view the details of each, move your mouse out of the box and the box will revert to its original size. This may be viewed as a natural culmination of a long history of. The organisation of eastern caribbean states is an intergovernmental organisation dedicated. Organisation of eastern caribbean states oecs definition. The wto general council endorsed an oecs package of proposals that sought to accommodate the. Oecs was created on 18 june 1981, with the treaty of basseterre, which was named after the capital city of st. The organisation of eastern caribbean states oecs is an economic union comprising ten islands located in the eastern caribbean that promote the unification of economic and trade policies between. The revised new oecs treaty, which seeks to establish an oecs economic. Convinced that the west indies associated states council of ministers since its establishment in 1966 has done much to further regional cooperation in many fields and has rendered valuable services to its member countries.
The oecs was established on 18th june 1981 on the signing of the treaty of. Economic integration with unequal partners the caribbean and north america december, 1993opt. Recalling the revised treaty of basseterre establishing the organisation of eastern caribbean states economic union, free movement in protocol member states, a common approach to social policy and an emphasis on functional cooperation. The oecs is one example of what is otherwise called regional integration the uniting of a region. Annex ii fco and dfid request for further information on. As outlined in the revised treaty of basseterre, the economic union formally creates a basis for joint action in charting the collective social and economic future of.
Oecs to establish greenblue economy strategy and action. The oecs mandate established to promote cooperation among the member states and at the regional and international levels under revised treaty of basseterre. The caribbean community and common market caricom is a common market comprising of twenty nations and dependencies located in the caribbean that. Organization of american states organisation of eastern. Revised treaty of chaguaramas to create an economic union. The union shall set itself the following objectives. The oecs was created on 18 june 1981, with the treaty of basseterre, which was named after the city of the same name, the capital city of st. Treaty establishing the european economic community. The single market and economic union were built upon principles of free movement of goods, labour, and capital, and a common.
Didacus jules, oecs director general having achieved substantial progress on the free movement of people objective in the revised treaty of basseterre, the oecs commission is making a concerted effort to advance the free circulation of goods and services. European community antigua and barbuda country strategy paper. Understanding the economic union, one country at a time by. The revised new oecs treaty, which seeks to establish an oecs economic union, has been signed and is in the process of ratification by the other seven members of the oecs, except montserrat, which is seeking an entrustment from the british government so to do.
During the last programming period, the oecs deepened their integration by signing the revised treaty of basseterre establishing the oecs economic union, which entered into force january 2011. The new oecs economic union treaty was finally presented at the 43rd oecs. The oecs greenblue economy strategy and action plan will be presented to the oecs economic affairs council and the council of ministers for environmental sustainability in early 2020. A theory of constitutional rights download ebook pdf. In june 2010 a revised treaty of basseterre was signed. Operationalising the oecs single domestics space icao. Dr denzil douglas, chairman of the organisation of eastern caribbean states oecs, says an economic union among member countries should start to take effect early next year, following last fridays historic signing of the revised treaty of basseterre. The oecs is the successor of the leewards islands political organisation known as the west indies associated states wisa one prominent aspect of the modern day oecs economic bloc has been the accelerated pace of trans. Historical perspective of oecs economic integration over the past 10 years july, 1992 6398bopt. The revised treaty commits member states to undertake joint actions and. Union, has been signed and is in the process of ratification by the. There are seven full members of the union, namely antigua and barbuda, the commonwealth of dominica, grenada, montserrat, saint christopher and nevis, saint lucia. I regard the signing of this treaty as a very important development in the integration process of the islands of the oecs.
How will establishment of an economic union single financial and economic space assist the development of the oecs. On 18 june 2010, the oecs member states signed the revised treaty of basseterre rtb establishing the oecs economic union in an effort to deepen the existing level of integration among themselves. Treaty establishing the benelux economic union his majesty the king of the belgians, her royal highness the grand duchess of luxembourg, her majesty the queen of the netherlands, being resolved to strengthen the economic ties between their countries by means of free movement of persons, goods, capital and services. Oecs 1981 to 2010 treaty of basseterre economic integration and cooperation in. Introductory note this publication reproduces the text of the treaty on european union, as signed in maastricht on 7 february 1992. Both organisations are operating under new treaties, the revised treaty of chaguaramas and the revised treaty of basseterre, respectively, which created the caricom single market and economy, and the oecs economic union. The ratification of the new oecs economic union treaty on 21st january 2011 signifies both a new beginning and a potential turning point for. A decent work programme for members of the organisation. Among the elements of the project was the creation of a technical committee for a draft oecs economic union treaty. Under its terms, member states agreed to the removal of trade barriers, the free movement of labour and capital, the establishment of a regional assembly of.