British Virgin Islands Business News

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Monday, October 27, 2008

Tenth OTCC Meeting Hosted in London

Recently appointed Foreign Office Minister Gillian Merron hosts the 10th meeting of the Overseas Territories Consultative Council (OTCC) in London, on October 28 and 29. The OTCC is a key annual event in the British Government Overseas Territories calendar, which is held each year in London. During these meetings, the heads of Britain's Overseas Territories governments and their representatives are discussing policy issues with a team of British Government Ministers.

The issues that will be discussed on the agenda of this year's council cover a range of current economic issues and global crisis; financial services regulation; human rights, prospects for the relationship between the European Union and the Overseas Territories; the environment and disaster management.

Gillian Merron who leads the British Government team is joined by some other members of Parliament. Opening the OTCC, Gillian Merron said, “the forum is a critical part of debate and decision-making between the UK and the Overseas Territories. We've got a great deal to discuss – from financial services to human rights - I’m looking forward to getting down to the business of ensuring continuing close relations and the security and prosperity of the OTs."

The proceedings of this OTCC will include the signing of a new Tax Information Exchange Arrangement between the UK and the British Virgin Islands.

The Overseas Territories Consultative Council was established as a result of the 1999 White Paper Partnership for Progress and Prosperity on the UK's relationship with the Overseas Territories.

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