1.1 An Economic Union to be called the Eastern Caribbean Economic Union is hereby established.
1.2 The parties to this Protocol under Article 24 of the Treaty of Basseterre Establishing the Organisation of Eastern Caribbean States Economic Union (hereinafter referred to as “the Principal Treaty”) shall be the Members of the Economic Union (hereinafter referred to as “Protocol Member States”).
1.3 The Economic Union shall operate over the territorial jurisdictions of the Protocol Member States (which jurisdictions are hereinafter collectively referred to as “the Economic Union Area”).
1.4 The regime of this Protocol shall in the relations of the Protocol Member States among themselves supersede that of the Agreement Establishing the East Caribbean Common Market.