ROADTOWN Tortola BVI, September 17th, 2012  –  Enhancing the shipping and yachting industry, while improving regional and international relations are on the agenda for Premier and Minister of Finance Dr. the Honourable D. Orlando Smith, OBE; who is presently out of the Territory on duty travel until September 30.

Premier Smith is on his way to Monaco, southern France, for the Monaco Yacht Show, after which he will travel to Copenhagen for the first meeting of the Caribbean Overseas Countries and Territories Council (COCTC); ending his travels in Greenland for the 11th Overseas Countries and Territories of the European Union (OCT-EU) Forum and Overseas Countries and Territories Association (OCTA) Ministerial Conference.

The BVI, known as the ‘Sailing Capital of the World’, is participating in the Monaco Yacht Show from September 19 to 22, to promote its first class yachting industry, ship registration services and complementing tourism facilities. The show attracts over 28,000 visitors to southern France; including brokers, designers, equipment manufacturers, shipyards and other members of the luxury yacht industry.

Premier Smith will then travel to Copenhagen for the first Extraordinary Meeting of the COCTC on September 23. Formed in April this year, the council was established to foster greater regional cooperation and integration among the OCTs and to serve as a forum address issues of mutual interest and concern.

Premier Smith will also represent the Territory at the 11th OCT-EU Forum and OCTA Ministerial Conference in Greenland from September 25 to 27.

The BVI, which serves as Vice President of OCTA, is also the Deputy Regional Authorising Officer (DRAO) for the Caribbean members of the 10th European Development Fund (EDF) of 15 million Euros, equivalent to over 20 million US Dollars.

As the DRAO, the Territory is charged with managing the 10th EDF's Small and Medium Enterprises (SME) Programme; intended to build the capacity of SME intermediaries, such as Small Business Bureaus, Trade Departments and Chambers of Commerce, to help them better service SME's. The current status of the SME programme, which was approved on August 15, will be a point of discussion at the EU-OCT Forum. Since approved, the financing agreement will be signed shortly.

Earlier this year, Premier Smith hosted Chairman of OCTA and Premier of Greenland Mr. Kuupik Kleist, who visited the Territory in June as part of his familiarisation mission in the region.

In Honourable Smith’s absence, Deputy Premier and Minister for Natural Resources and Labour Dr. the Honourable Kedrick Pickering will act as Premier and Minister of Finance in accordance with Section 55 (1) of the Virgin Islands Constitution Order, 2007.

The section states: “If the Premier is expected to be absent from the Virgin Islands for more than forty-eight hours, the Governor shall authorise the Deputy Premier to perform the functions of the office of Premier; and the Governor shall revoke this authority on the return to the Virgin Islands of the Premier.”

Premier Smith’s presence and participation in these high-level international events and meetings highlight this Government’s focus on the revitalisation of the Territory’s tourism and financial services product; in addition to the enhancement of regional and international relations.

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