Solomon Islands Trade Policy Framework Endorsed

28 February 2015
Solomon Islands Trade Policy Framework Endorsed by the National Trade and Development Council

The Solomon Islands National Trade and Development Council has endorsed the Solomon Islands Trade Policy Framework earlier this week. The Framework is expected to be presented to the Solomon Islands Cabinet for final approval before its official launch in March 2015. The Hon. Minister for Foreign Affairs and External Trade, Milner Tozaka chaired the meeting of the National Trade and Development Council to consider the key policy recommendations of the Solomon Islands Trade Policy Framework.

In his opening speech, Hon. Tozaka highlighted the importance of a cohesive approach towards removing impediments to trade, and building the productive capacity of Solomon Islands in order to benefit from market access opportunities.

The vision of the Trade Policy Framework is to ‘Build the productive capacity of the Solomon Islands economy via sustainable trade and investment. The resulting creation of wealth and employment opportunities is aimed at promoting human development, reducing poverty and improving living standards for Solomon Islanders.’

The Trade Policy Framework will assist the Solomon Islands government by integrating trade into the national development processes and will guide the work of the National Trade and Development Council in implementing its key policy recommendations. The Framework has been widely consulted at various levels including government, the private sector and community groups in Western Province, Malaita, Isabel and Guadalcanal as well as other provincial constituents over a two year period. The key objective of the framework is to promote greater coordination amongst government departments, the private sector and non-state actors in addressing critical trade related challenges.

The implementation process for the Trade Policy Framework will be managed by the Ministry of Foreign Affairs and External Trade for the Solomon Islands. Support for this project has been provided by the European Union’s Pacific Integration Technical Assistance Project (PITAP) under the 10th European Development Fund with technical assistance through the Pacific Islands Forum Secretariat. Supporting the Forum Island Countries (FICs) in the development and implementation of comprehensivetrade and investment policy frameworks is an integral part of services that the Economic Governance Programme of Forum Secretariat provides to the FICs.

ENDS

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