Now they are due to continue their wide-ranging discussion in St. Lucia on 20th June, under the chairmanship of that country’s Prime Minister, Mr. Stephenson King, who assumed the rotating leadership position at the end of the St. Vincent summit.
The June meeting, according to Mr. King, will review the work program and matters pertaining to finance. He said governance and a number of operational matters pertaining to the new structure of the OECS to guide the union will also be discussed on June 20.
The Prime Minister said that at their meeting last week, the heads spent quite a lot of time in caucus, during which time they were able to practically look at a number of issues pertaining to the operations of the union. They were able to deal with matters pertaining to the Overseas Missions where they have seen an update and a review of the economic value, significance, and benefits of our joint Missions in the United Kingdom, in Ottawa and in other parts of the hemisphere.
The OECS Chairman said they were also able to deal with matters pertaining to the OECS economic union governance structures and to see how in this initial period of the operations of the union, they can ensure that those governance structures can be effective in the administration and functioning of the union.
The St. Lucia Prime Minister said that the meeting also received a comprehensive report on the British American Insurance Company (BAICO) and the Colonial Life Insurance (CLICO) financial situation from Prime Minister Gonsalves, who is leading the sub-region’s response to the collapse of these two Trinidad-based regional companies.
The collapse has left the sub-region in dire financial problems with policy holders likely to lose millions of dollars in investments.
Prime Minister King also stated that it was agreed tourism and agriculture ministers will meet soon to formulate certain work programs that would have implications for the sub-region.
St. Kitts & Nevis was represented at the meeting in St. Vincent by Prime Minister Dr. Denzil Douglas.