By Nazario Rodriguez Jr.
Horizon news staff

The Senate claimed to have addressed policy issues at the Economic Symposium, which concludes today at the Bai Ra Chamayong Cultural Center.
This is according to a press statement from the Senate’s Public Information Office released to media outlets on Wednesday entitled "Listen and Act: Senators Address Policy Issues at Economic Symposium."
The press statement said that "listen and act" was a catchphrase used by Sen. Alan Seid in his presentation in "addressing the policy issues Congressmen faced with on a daily basis."
The Senate noted that all of Palau’s Senators took part in the CRC Symposium with Senate President Reklai giving special remarks before an audience of over a hundred public individuals and a panel that included former president and Compact Review Commission chairman Kuniwo Nakamura.
The Symposium main objective is to discuss Palau’s role in the global economy.
Reklai has stressed that "a strong local economy will help bolster education, medical care and a workforce, which will in turn further strengthen the economy."
Sen. Joshua Koshiba delivered stirring remarks reiterating the importance of Palau’s alliance with the United States as well as with emerging global superpowers such as the People’s Republic of China.
"The uncertain future poses many possibilities. We may face many challenges to our nation’s security. Our nation cannot now do this alone. We must continue to affirm our commitment to the Compact of Free Association with the United States to protect out own national security interests," the press statement quoted Koshiba as saying.
It said that Koshiba also commented that with both the US and China as strong allies, Palau will be far better equipped to succeed in the global economy than most nations.
Seid also stressed the importance of having the community involved in shaping the policy issues Palau faces today, the statement noted.
"We welcome debate in the spirit of taking a step forward, not to find other’s faults. Palau continues to be at a crossroads. We do not want to paint a dark picture. We must have a positive spirit balanced with reality to make calculated steps forward," the press statement quoted Seid.
It said that Seid provided the participants with examples of pending legislation that will impact Palau’s domestic and foreign policies, including various tax reform Bills.
Seid has said that the most important crossroad the country at present is to amend the tax cod.
Other issues that Seid discussed included land lease terms, permanent residency, tax exemptions, oil and gas exploration, National Development Bank interest rates and corporate registries.
"The key point is we want to see a good economy. What can we do to build Palau so we will not be reliant on outside grants in the future,?" Seid was quoted as saying.
The statement also quoted Nakamura as saying that he does not envy the Congressmen and that Seid was saying that there is no perfect answer to the challenges the country has.
"We must wake up each day and consider what steps we must take into the future. We must continuously compare ourselves to the highest potential we can achieve. We must take the steps to advance our standards of living without losing the beauty of being a Palauan," Seid has Seid.