OECS MEMBER STATES CONTINUE STRUGGLE FOR REMOVAL FROM EU BLACKLISTING

PM Allen Chastanet of Saint Lucia
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[su_pullquote align=”right”]”The graduation of small states to Middle and High Income status is one example of the policy prescriptions that do not take account of the vulnerabilities that significantly affect our ambition to achieve resilient and sustainable development.” OECS Chairman, Prime Minister of Saint Lucia, the Hon. Allen Chastanet[/su_pullquote]Tuesday, March 20, 2018 — The Member States of the Organisation of Eastern Caribbean States have been working assiduously with the OECS Commission and their joint Embassy in Brussels to address the ongoing challenges raised by the European Union’s prescriptions on international standards on transparency and exchange of information in relation to financial services. 

The reality is that in an increasingly competitive and unpredictable global environment many traditional partners are advocating policies that promote national interests, many of those protective in nature and take very little account of the impact on small economies like ours.

OECS Chairman and Prime Minister of Saint Lucia Hon. Allen Chastanet said that with the loss of preferential market access for bananas and sugar, and non-tariff barriers for other products, practically all of our economies have had to make difficult transitions from agriculture to full services such as financial services and tourism and these transitions have been made more difficult by the requirements of multiple external policies.

Read more at: OECS Secretariat

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