Posted on

SVG in closer ties with some non OECS territories


Despite the fact that St. Vincent and the Grenadines is integrated in its monetary policy with other countries of the OECS, our economy is more integrated with countries outside of that body, but within CARICOM.{{more}}

This is according to Prime Minister Ralph Gonsalves, who was speaking at a press conference on Monday, after his return from the meeting of the OECS Authority in Dominica.

Gonsalves said that these concentric points of integration are healthy for the region.

The Prime Minister used the example of trade ties with Trinidad and Tobago, which he indicated are stronger than those between this country and OECS neighbor St. Lucia.

He noted that the presence of Trinidadian banks and insurance companies here, along with the direct trade of manufactured goods and agricultural produce between the two countries, would make the economic union of CSME easier.

He said with these circles of integration in place, all that is needed to make the economic union of CSME official is the amendment to the revised Treaty of Chagaramas. (JJ)