OECS seeks to establish effective transportation to improve trade within sub-region
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OECS seeks to establish effective transportation to improve trade within sub-region |
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Contact: Shannon Lebourne
Friday 11 March 2011 – OECS governments continue to explore various avenues to enhance the transportation of goods and services throughout member states.
The governments, in collaborations with private sector partners and other stakeholders, have been discussing the benefits attached to the establishment of a virtual company to help lessen the time and cost to move goods within the regional grouping.
Speaking in an exclusive interview with the GIS, Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner, explained how the company will operate.
“It is one of those virtual companies which will operate through technology. You really don’t have to own the transportation. One just has to ensure that there is enough food to be shipped consistently and transportation will be available to take the goods throughout the OECS.”
Sir Dwight says enhancing trade facilitation among OECS member states is critical to member states.
He says a conducive trade facilitation environment is also important if the OECS has to remain competitive in the ever changing global business market.
“This is a major opportunity for breaking out of the box as regards our development and we must seize the chance that is being given to us by international, regional, and national circumstances. “Development generally occurs when countries and nations have to respond to calamities and crises. This is the opportunity for us in Saint Lucia and the OECS that we should not miss. This is our new beginning.”
Reducing the time and cost taken to move goods across OECS borders is an essential component of the OECS Economic Union which was ratified by member governments of the OECS, on January 21, 2011. |
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