Tuesday , March 28 2023

Sustainable economic development for Saba and Statia plan agreed

The Daily Herald reports today hat at the close of the two-day Strategic Conference held at the CNSI office in Satia, a Memorandum of Understanding (MOU) was signed between the Chamber of Commerce and Industry for St. Eustatius and Saba, the Executive Councils of Saba and St. Eustatius, Saba Business Association (SBA), St Eustatius
Business Association (STEBA) and Saba Merchants Association (SBA).

Economic Conference Statia 2015
Standing: Lara Frank MSC Ministry of Internal Affairs, seated left: Wolfgang Tooten, President of Saba Business Association, Winston Fleming, President of STEBA, Commissioner Carlyle Tearr, President of Chamber of Commerce Koos Sneek, Commissioner Chris Johnson, Kelly Johnson, Saba Merchants Association and Hans Verhulst CBI Representative International Relations at the signing of the MOU. (Photo The Daily Herald)

In the MOU, the parties shared their objective of stimulating the sustainable economic development of the islands in general and the local private sector in particular, with the emphasis on Micro Small and Medium Enterprises Sector (MSMES).

As MSMES needs to increase its competitiveness, making the sector resilient to regional and international socio-economic challenges, reducing entrepreneurial risks and encouraging investments in Statia and Saba, all parties agreed to intensify (and structure) their cooperation.

Parties will implement the cooperation by structuring the promotion of trade and investment as a joint coordinated
activity of public and private stakeholders, by sourcing knowledge and skills in and outside Statia and Saba to come to the correct model for trade and investment promotion, and by designing a service portfolio in the field of trade and investment promotion.

For specific projects and activities under the umbrella agreement, separate executive agreements will be concluded. These will determine the responsible persons, financial resources and other details. The actual approval of projects
or activities will be dependent on the availability of guaranteed funds. All parties are committed to obtain these funds.

The progress of each project or activity will be evaluated at least twice a year.

During the final stages of the conference, the new Dutch Kingdom Representative Gilbert Isabella was also in attendance.

The meetings were well attended, with participants contributing their skills and knowledge in anticipation of an upswing of the economy. The various facilitators/experts Dick de Man, Hans Verhulst and Lara Frank of CBI, Jenna Wijngaarde (Capricon Project) and Jaap Rutger Kos (KPMG Meijburg Caribbean) shared the objectives
of the programme as put together by CBI to improve the economic situation on the islands.

The conference was a joint public/private effort of Saba, Statia and Bonaire along with CBI. Many individuals who
attended said to be impressed and felt they had benefitted from being at the conference.

President of the Chamber of Commerce of Saba and Statia, Koos Sneek, thanked all for their attendance. He described the conference as “historic” as all those present strived together for a stronger economy for the three islands.

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