Constraints of world economy key point for Oct leader

POSTED: 01/27/12 2:44 PM

St. Maarten – An expression of deep concern about the global financial crisis and economic recession that has caused considerable disruption to the economies of the European Union (EU) and Overseas Countries and Territories (Oct) forms part of the nine point political declaration issued from the 2012 Overseas Countries and Territories Association’s (Octa) ministerial conference that was signed by 21 countries/territories earlier this week. Prime Minister Sarah Wescot-Williams signed the document on St. Maarten’s behalf.

Parties are concerned about how the state of the world economy has “constrained the resources of the European Community (EC) and has increased the vulnerability of Oct to varying degrees, making the future relationship with the EU even more critical to their future sustainable development.”
“Oct have recognized that the EU has taken into account the changes and developments in challenges and opportunities for Oct since the 2001 Overseas Association Decision (Oad) and is working in partnership with Oct and member states to increase Oct competitiveness, lessen their vulnerability and strengthen regional cooperation in the framework of the revision of the Oad,” Wescot-Williams stated in a release.

he nine point declaration covers partnership between the EU and the Oct, management of Oct’s affairs; long term technical assistance to Octa, partnership working party; territorial strategies for innovation and regional projects; environment and climate change; trade; equal treatment for all Oct; and rights of Oct citizens.

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