By Caribbean News Global
TORTOLA, BVI – Premier, Dr Natalio D. Wheatley, will lead a delegation to London to meet the new minister for Overseas Territories, Stephen Doughty, and the new UK parliament, to continue building a modern partnership with the United Kingdom-based on mutual trust, respect, cultural understanding, and support.
Over the five-day visit from 9 to 13 September 2024, the premier will be accompanied by the deputy premier and minister for financial services, labour and trade, Lorna Smith OBE; Ayana Glasgow, executive director of international business regulations at the ministry of financial services, labour and trade Kedrick Malone, governance reform delivery manager in the premier’s office and Kenneth Baker, managing director of the financial services commission.
“The delegation will engage with key political and media stakeholders and private sector representatives from across the financial and professional services sector. His Excellency Daniel Pruce will join the meeting with the Overseas Territories minister,” said the BVI government. “The premier will discuss the significant progress the British Virgin Islands have made on governance reforms following the Commission of Inquiry, which has been the most robust governance review in the history of the Virgin Islands.
“As of today, the government has completed its work on forty-five of the 48 Commission of Inquiry Recommendations (94%), with three still in progress. Of the 115 actions supporting those recommendations, 112 (97%) have been completed, with three still in progress. The two remaining recommendations require legislation that has already been introduced in the House of Assembly and will have final Readings by 6th September 2024. Once passed in the House of Assembly, the legislation will join other Bills going through the process of being assented to by the Governor before they become law.”
In their discussions with key stakeholders, premier Wheatley and deputy premier Smith will also highlight the progress that the British Virgin Islands is making in implementing the recommendations of the Caribbean Financial Action Task Force Mutual Evaluation Report.
“The government of the BVI has committed significant resources to support this, including the establishment of a sanctions unit in the attorney general’s Chambers, updating the National Anti-Money Laundering and Counter-Terrorist Financing Policy and Strategy for the Virgin Islands, and creating working groups to analyse the money laundering, terrorist financing, and proliferation financing risks posed by legal persons in the Virgin Islands. To address key concerns surrounding the impact of climate change in the Virgin Islands, the delegation will also meet with a group of private-sector climate finance specialists.”
Premier Dr Wheatley, said:
“I am determined to ensure that we could meet representatives of the new United Kingdom government as soon as possible following the UK election, and I am very pleased that we have such a rich programme of meetings ahead of us. Engaging face-to-face with parliamentarians, officials, regulators, and the private sector is critical to building stronger ties and establishing the modern partnership, we seek with the United Kingdom.
“I am particularly honoured that the speaker of the House of Commons, Sir Lindsay Hoyle, member of parliament, is hosting a reception for the delegation to meet with new parliamentarians and friends of the British Virgin Islands in the State Rooms at the Speaker’s House. This will be an opportunity to promote an understanding of the British Virgin Islands and strengthen relations with those in attendance,” premier Dr Wheatley, in a press release Friday, September 6, 2024.
