Prime Minister Dr. Denzil Douglas. *Photo credit: www.caribvoice.org

BASSETERRE, St Kitts, CMC – Prime Minister Dr. Denzil Douglas Tuesday described as an “incredible juncture” next week’s signing of the treaty establishing the Economic Union among the sub-regional Organisation of Eastern Caribbean States (OECS).

The signing takes place on December 29, in the capital, venue of the signing of the Treaty of Basseterre that established the OECS on June 18, 1981.

The decision to establish an Economic Union was taken by OECS Heads of Government in July 2001 who have indicated that the sub-regional integration movement would not run counter to the similar path being pursued by the wider Caribbean Community (CARICOM).

“The new arrangements envisaged under the treaty represent a fundamental philosophical transformation and political commitment to deepening the level of integration among member states through the establishment of an Economic Union and the creation of a single financial and economic space,” said Prime Minister Douglas, who is the current OECS Chairman.

The signing ceremony will be held at the Sir Cecil Jacobs Auditorium at the Headquarters of the Eastern Caribbean Central Bank (ECCB).

Douglas described the upcoming event as “an incredible juncture in the historic evolution of the OECS” that groups the islands of Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines, Montserrat, St. Kitts and Nevis, Anguilla and the British Virgin Islands.