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Global financial crisis harms relationship between OCT & EU

Hon. Pickering and other delegates from different overseas countries and territories, who attended the the event. Photo: ec.europa.euron
ROAD TOWN, Tortola, V I- Noted with deep concern by the Association of the Overseas Countries and Territories (OCT) of the European Union (EU), was the fact that the financial crisis has caused a considerable disruption to the economies and relationships of the EU and the OCTs.

In a document signed by twenty-one overseas territories, governed by the British, including the Virgin Islands, it was stated that “the global financial crisis and economic recession has caused considerable disruption to the economies of the EU and OCTs, constrained the resources of the EU and has increased the vulnerability of OCTs to varying degrees, making the future relationship with the EU even more critical to their future sustainable development.” 

This document which was signed by the Minister for Natural Resources and Labour, Hon. Kedrick Pickering in Brussels on January 23, 2012, was laid during the second sitting of the second session of the second House of Assembly on September 3, 2012. 

The document is designed to strengthen a mutually beneficial, comprehensive and unique partnership with the European Union, based on European citizenship and on the concept of European Family, considering the diversity of the OCTs’ needs and assets in tern of development and regional cooperation. 

The document added that the EU has taken into account the changes and developments in challenges and opportunities for OCTs since the 2001 Overseas Association Decision (OAD) and is working in partnership with OCTs and member states to increase OCT competitiveness, lessen their vulnerability and strengthen regional cooperation in the framework of the revision of the OAD. 

The other members of the Overseas Countries and Territories who were present to sign the document, were: Anguilla, Aruba, Bonaire, Cayman Islands, Curacao, Falkland Islands, Greenland, Mayotte, Montserrat, New Caledonia, French Polynesia, Saba, Saint Barthelemy. St. Eustatius, Saint Helena (Ascension, Tristan de Cunah,) Saint Marten, Saint Pierre and Maquelon, territory of the French southern and Anarctic lands, Turks and Caicos and Wallis and Futana.

8 Responses to “Global financial crisis harms relationship between OCT & EU”

  • Not2Sure (13/09/2012, 07:45) Like (0) Dislike (0) Reply
    It is just common sense really. When you are poor, you have a lot more problems than when you are rich.
    • ----------------- (13/09/2012, 10:57) Like (0) Dislike (0) Reply
      sorry what does this have to do with the sotry?? suckteeth
  • NDP voter (13/09/2012, 08:08) Like (0) Dislike (0) Reply
    done deal watch your back with then NDP power hungry new cats
  • talk girl talk (13/09/2012, 10:22) Like (0) Dislike (0) Reply
    is this just more UK control?
  • BUDDY!! (13/09/2012, 14:31) Like (0) Dislike (0) Reply
    The BLIND leading the BLIND. In this day and age, especially the UKOTS, will become increasingly integrated with Britain and the European Union;

    People are sending the message that this is where they aspire to be. It is also the skillful antidote to silence the voices who advocate disengagement from ' ostensible' colonialism. Those questions would now be moot, but the net effect inevitably, is a greater loss of control over our destiny.
  • Yifter (13/09/2012, 16:25) Like (0) Dislike (0) Reply
    Not too much black faces in this crowd sup with that?
  • plight (13/09/2012, 23:07) Like (0) Dislike (0) Reply
    it is true we are faced with a financial crisis, but we hope it wont deter the big powerful countries understanding the plight of small island states


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