CCCU welcomes OECS Economic Union

JULY 9, 2010 (CUOPM) – A regional financial institution has lauded the recent signing of the Revised Treaty of Basseterre to establish an OECS Economic Union and is urging concrete follow-through to establish the required framework for greater cooperation.

Deputy General Manager of the St. Kitts-based Caribbean Confederation of Credit Unions (CCCU), Mr. Peter Etienne said 400 leaders from 17 member countries of the CCCU gathered last week in St. Maarten for the 53rd International Convention to review progress made, identify major challenges and define strategies for the ensuing years.

He disclosed that during the 39th Annual General Meeting on Sunday 27th June, delegates noted the intent of the OECS Member States to accelerate progress towards an Economic Union and unanimously approved Resolution 14:

“Whereas the Heads of Government of the Member Territories of the Organisation of Eastern Caribbean States (OECS) have signed the Revised Treaty of Basseterre, establishing the OECS Economic Union for the deepening of the integration movement: be it resolved that this 39th Annual General Meeting of the Caribbean Confederation of Credit Unions congratulates the Heads of Government of the OECS on this signal achievement.”

Mr. Etienne said that just under 400 leaders from 17 member countries welcomed the advent of the OECS Economic Union as a significant step toward realising the CSME and urged concrete follow-through to establish a tangible framework for greater co-operation among member territories not only on legislative arrangements, central banking and financial sector supervision, but also on genuine free trade and movement of people and strengthening the Private and Co-operative Sectors of the sub-region.

Featured speakers at the meeting included Chief Executive Officer of the World Council of Credit Unions (Wisconsin), Mr. Pete Crear; Professor of Caribbean Studies at City University, New York, Montserrat-born Dr. George Irish; Governor of the St. Kitts-based Eastern Caribbean Central Bank (ECCB), Sir K. Dwight Venner and Certified Speaking Professional, Ms. Becky McCrary of Greenville, South Carolina.