A treaty aimed at establishing an economic union among OECS member states was signed in Basseterre, St. Kitts yesterday (December 30, 2009). The treaty was signed by eight of the nine territories making up the OECS. Montserrat, although present to witness the signing of this historic document, was unable to sign because the domestic approval process in the territory has not yet being concluded. The Treaty of Basseterre, which gave rise to the sub-regional grouping, known as the Organization of Eastern Caribbean States (OECS), was signed 28 years ago in the capital of St. Kitts (Basseterre). The OECS includes Antigua and Barbuda, Dominica, Grenada, St Lucia, St Vincent and the Grenadines, Montserrat, St Kitts and Nevis, Anguilla and the British Virgin Islands. The member territories are now expected to have the document ratified by their parliaments and they are expected to put the institutional framework in place to transform the region into a single economic space. The signing of this document comes at a time when the region is reeling from the effects of a grueling global economic recession which is impacting severely on the sub-regional grouping. In addressing the gathering at the hour-long ceremony at the Eastern Caribbean Central Bank (ECCB), host Prime Minister, Dr. Denzel Douglas told the gathering that “…it is essential that we seek out and we identify ways of increasing our resilience so as to ensure our continued viability, our continued relevance and our continued successes nationally, regionally and internationally,"