Philipsburg: --- The Memorandum of Understanding between the stakeholders and the island government o the economic summit was signed yesterday. On behalf of the island government Commissioner of Economic Affairs Maria Buncamper Molanus outlined the MOU which is for a six month period.
Parties have agreed that they are aware of the potential effects of the current global financial challenges on the economy of St Maarten, and the need for urgent joint action to address this issue;
It has been determined that where feasible to mitigate the effects of said crisis on the economy of St Maarten and work towards sustainable economic growth and prosperity for St Maarten and its citizens on the short-, medium-, and long term.
President of the Chamber of Commerce Glen Carty made clear that the task given at the summit today is not an easy one. He said while many persons from the different sectors will be attending this summit with one or more goals they all need to work together to find solutions to mitigate and deal with the crisis ahead in the interest of the island. Carty said he already predicted a challenge if not this would not work. While he feels that some may one to gain political popularity or most recognized unions. He said that he felt that these persons would have to put aside their differences so that they can overcome their negative impact of the global crisis.
He said the most important part of this is the implementation of whatever solutions are found. He said despite what they have to make this effort work.
