BASSETERRE, St. Kitts, 19th August 2011 (Ministry of Trade) - The Ministry of Trade in St. Kitts and Nevis has organised a one-day seminar on the free circulation of goods in the OECS Economic Union. Permanent Secretary within the Ministry of Trade Charleton Edwards disclosed that this one-day seminar is slated for August 23 at the St. Kitts Marriott Hotel.
The OECS Economic Union was established January 21, 2011 when member-states ratified the Revised Treaty of Basseterre. According to the Permanent Secretary, the Economic Union Treaty commits members to establishing a Customs Union whereby goods entering a member state from outside of the Union will pay duties based on a Common Customs Tariff, while goods in trade within the Union will circulate free of import duties and other trade restrictions.
Article 10 of the new protocol states that; “Goods imported from outside of the Economic Union Area which are in free circulation in that area shall enjoy the privileges of goods produced within the area.”
Participants for the seminar are senior staff members within various companies while one of the facilitators would include the consultant who conducted the study. This seminar seeks to provide participants with the opportunity to seek clarifications on the content specified within the report.
Giving an insight into the seminar, Edwards noted that in order to address those concerns his Ministry has approached the Hubs and Spokes Project of the OECS Secretariat to provide technical assistance to facilitate the process of conducting a one day seminar for all stakeholders. This, he stated is geared towards helping them to better understand the process and provide them with guidance to relevant government agencies and private sector persons.
Edwards pointed out that such a seminar is very important for the businesses in St. Kitts and Nevis noting the importance of properly understanding it. This, he states is because the supplication of this protocol sat both at the regional and national levels which can pose major challenges.
“It is important that the implications of free circulation of goods in the OECS Economic Union are fully understood by everyone concerned. This is particularly important in respect of how goods are traded at the time of first entry into the economic union, and how they are treated subsequently for free circulation within the single economic space.
The Ministry of Trade PS, pointed out that the OECS Secretariat had commissioned a “Consultancy on the Development of a Framework for the Establishment of a Regime for the Free Circulation of Goods in the OECS. This study he said was completed in March of this year and contains a number of recommendations for revenue-sharing mechanisms.
“The report was subsequently endorsed by the OECS Member states, however, the OECS Authority at its fifty –third meeting mandated that June 1st, 2013 will be the operational start date for the regime for free circulation of goods within the OECS.”
PS Edwards noted that the countries of the OECS participate at present, in several trades and economic arrangements which have implications for the movement of non – originating goods. The successful implementation of this regime requires skilful guidance, focused attention and dedication to the complex and multi-layered issues involved.
Outlining the main objectives of this very important seminar, he states that it seeks to understand more fully the contents of the report, to understand the OECS Consultancy on the development of a framework for the establishment of a regime for the free movement of goods in the OECS, to understand the OECS Economic Union in particular Article 10 and other trade-related Articles of the Protocol to the Revised Treaty, facilitate the understanding of the role and functions of the public sector including the Ministry of Finance, the Customs and Excise Department, the Bureau of Standards and other regulatory agencies in implementing Article 10 and facilitate the seamless transition into the Free Circulation of Goods Regime of the OECS Economic Union.
