KINGSTOWN, St. Vincent, CMC – St. Vincent and the Grenadines Prime Minister, Dr. Ralph Gonsalves, says his Trinidad and Tobago counterpart, Kamla Persaud Bissessar, has indicated an curiosity in assembly to debate excellent points between the oil-rich city island republic and the sub-regional Organisation of Jap Caribbean States (OECS).
Gonsalves raised the problems right here final month when he hosted the summit of the heads of the 12-member OECS, which includes seven full members and 5 affiliate members.
The problems included Trinidad’s continued management of the OECS airspace and the way the cash derived from it’s used, in addition to the difficulties that OECS international locations face in being paid in United States or Jap Caribbean {dollars} when promoting items to the Port of Spain.
One other concern is the excellent monies that Trinidad and Tobago has dedicated to paying to OECS international locations after the collapse of the Port of Spain-based insurance coverage giants CLICO and BAICO in 2009.
Gonsalves informed a information convention that he had raised the difficulty with Trinidad and Tobago’s Minister of Overseas Affairs and CARICOM Affairs, Sean Sobers, throughout the lately concluded Caribbean Group (CARICOM) summit in Montego Bay, Jamaica.
He mentioned that Sobers informed him that he had spoken to Prime Minister Persaud Bissessar concerning the points, and he or she had indicated that she needed to interact the OECS in a constructive dialogue.
Gonsalves famous that the earlier Persaud Bissessar-led authorities had agreed to fee of US$100 million on the CLICO-BAICO matter earlier than it was voted out of workplace 10 years in the past.
“… the OECS international locations misplaced about EC$1.6 billion — US$600 million thereabouts — on CLICO-BAICO. That was the potential harm and loss,” he mentioned, noting that Trinidad and Tobago, underneath the Patrick Manning administration, took care of their policyholders.
“So, by the point Kamla got here to workplace, there was this open wound…” Gonsalves mentioned.
“They used the premium from St. Vincent to purchase stuff in Trinidad. What about us? We got here to the conclusion that Trinidad would pay us US$100 million. Kamla paid US$6 million throughout her administration. However since then, the succeeding authorities in Trinidad over the succeeding 10 years, say they ain’t recognised that and paid nothing in the direction of it.”
Gonsalves mentioned this was “an indebtedness which is there. However all of these items her authorities has agreed that we will need to have constructive conversations”.
He mentioned he would ship a communication to Prime Minister Persaud Bissessar to rearrange a gathering.
Gonsalves mentioned he would really like Prime Minister of Antigua and Barbuda, Gaston Browne, in addition to another OECS leaders who want to attend, to be current on the assembly.
He famous that, though he’s not a member of the Financial Council of the Jap Caribbean Forex Union (ECCU), he had been liable for coping with the CLICO-BAICO matter over 10 years in the past.
“Gaston is the one who took over that facet that I used to be coping with. So, if just for that CLICO-BAICO one, I’d like him to come back with me. So we work collectively on that.
“So I’d say we made progress, as a result of I discovered the federal government of Trinidad and Tobago, the brand new authorities, keen to have a constructive dialog,” Gonsalves mentioned as he reported on the result of the CARICOM summit.
