By Bernadette H. Carreon
Horizon news staff

President Remengesau asked United States President George W. Bush to begin the review process of the Compact of Free Association so that Palau can present it to the people in a referendum in Nov. 2008.
In a letter to President Bush, Remengesau said he will be joining the Washington members of the Palau’s Compact Review Commission to discuss the process and timing and at the same time the Palau negotiators is preparing to begin meeting with the U.S. counterparts during the early fall.
"Palau has made a great progress over the last 13 years in our journey from regaining our sovereignty in 1994 to our goal of economic independence. We look forward now to completing that journey over the next 15 to 20 years. Our ultimate objective is to become a donor nation, rather than a recipient country. A crucial part of that voyage will be our partnership with the U.S. under the continuing Compact of Free Association," Remengesau said.
The financial package of the Compact will lapse on 2009, the review process is now being conducted by Palau.
"While the world has changed considerably since the Compact was first adopted, our mutual interests in national security, economic development and environmental preservation remain as important as ever. We are proud to stand with the US in international affairs and on the battlefields of Iraq and Afghanistan. And I look forward to working with you on this next stage of our relationship," the president said.