After the 49th meeting held in Tortola, BVI, on May 20-22, the Organisation of Eastern Caribbean States (OECS) issued a release concerning the matters discussed, and decisions taken during the meeting.
One of the decisions taken was that the former chairman, Tillman Thomas, the Prime Minister of Grenada, was replaced in his post by Montserrat Chief Minister, Dr Lowell Lewis. The new OECD chairman spoke on the importance of regional collaboration to tackle the global financial crisis, and confirmed the commitment of Montserrat to deepen the integration process as an Overseas Dependent Territory.
During the meeting, the Declaration of Intent was signed by Spain's Ambassador to the Caribbean, Jesus Silva, with the OECS which includes exchange of information and training.
The leaders of the territories of the region talked on the future of the financial services, and discussed that it was necessary to have legislation for greater transparency. Other issues discussed include tourism, social safety, functional co-operation, economic development and the Eastern Caribbean Supreme Court (ECSC). In his speech on the opening of the conference, BVI Premier Ralph O'Neal said that the territory was pleased to accomodate the Commercial Division of the Court.
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