Commenting that Cayman was aware that a committee has been formed to facilitate the revision, Mrs Dilbert requested that the territories - through the Overseas Countries and Territories Association (OCTA) - be represented to ensure that all perspectives are considered.

She also requested that the results of any appraisals resulting from examination and assessments from regulatory watchdogs, such as the Caribbean Financial Action Task Force or the International Monetary Fund, be carefully appreciated by the European Commission Directorate General Taxation and Customs Union.

The forum's key theme, as noted by OCT Ministerial Chairman Stephane Artano, was solidarity between the OCTA and the EU.

"Not a static solidarity, but a solidarity based on active roles, both on the OCTs' side and on the side of the commission," he commented. "It is a solidarity that respects the OCTs' right of self determination."

The OCTs in the OCTA are constitutionally linked with the Netherlands, the UK, Denmark, and France. They are geographically located in the Caribbean Sea, and in the Pacific; Indian; and North and South Atlantic oceans.

The commission is currently interested in a renovation of OCT-EU Relations, which respects a familial type of partnership between the EU and the OCTs. Commissioner for Development and Humanitarian Aid Mr Louis Michel reinforced this theme during his forum presentation.

Other key agenda items included the need for speedier and simpler procedures relative to preparing, processing, and approving European Development Funds, in order to realise agreed sustainable development objectives.

Through these funds, the European Union has allocated significant general and sectoral budgetary support, for infrastructure as well as technical and managerial improvements, to the OCTs in all regions.

In the Cayman Islands, the European Commission has stated that it is committed to financing repairs and reconstruction of houses after Hurricane Ivan devastated the Cayman Islands in late 2004.