Dr. Douglas, who also serves as Chair of the Organisation of Eastern Caribbean States (OECS) has indicated that the effects of the crisis are still very much in evidence in the sub-region and it is critical that higher levels of economic growth be realised.
“This notwithstanding, it is patently clear that without the institutional arrangements that are so integral to our Organisation, the impact of the global financial crisis on the economies of OECS Member States would have been much more severe,” said Dr. Douglas.
He said that the global financial crisis has profoundly impacted millions of lives.
“With uncertainty still looming in financial markets, the speeding up of global economic recovery remains a top priority for all countries. For us in the OECS it is critical that higher levels of economic growth be realised. By creating the space within which the factors of production are free to move and to realize their fullest potential, the Economic Union will provide the environment and the means through which this can be achieved,” said Prime Minister Douglas.
He further pointed out that in a world that is characterized by constant change, adaptability must be the watchword for the Nation-State concerned about maintaining continued relevance.
“Thus the OECS has been paying particular attention to ways in which it can adapt to changing global circumstances. Specifically, its response to those changes and new circumstances to which I refer, has been on the one hand, to strengthen and deepen even further, the process of regional integration, and on the other, to embark upon a process of international outreach involving the promotion of the OECS Brand, and the successes and achievements of the Organization,” said the OECS Chairman.
(Parts of this article were written with content submitted in a CUOPM press release).