L. Shmull from Palau, met in Pohnpei on July 1-3 to establish a Micronesian Trade Committee and to consider a wide range of trade-related issues of importance to the three Freely Associated States.
Recognizing that trade issues were becoming of increased importance for the sustainable development of each of the FAS and, giving effect to decisions made at the Micronesian Presidents Summit held on Sept. 5, 2007, the ministers established the committee comprised of ministers from each of the FAS.
Through the committee, the FAS will be better placed to collectively address trade-related issues of concern to each country as well as to coordinate their policy positions relating to trade with the U.S., regional trade agreements such as the Pacific Island Countries Trade Agreement and the Pacific Agreement on Closer Economic Relations as well as international trade negotiations on an Economic Partnership Agreement with the European Union.
During their deliberations, the ministers stressed the need to give priority to overcoming quarantine and other problems that restrict trade among the FAS, while also participating as actively as possible in other regional trading initiatives.
Because of the shortage of expertise in the FAS, the ministers agreed on the need to share expertise among all three FAS wherever possible.
The ministers also discussed various trade-related provisions of their Compact agreements with the U.S. and their relevance to the FAS’ future trade, both with the U.S. and their implications for the FAS’ trade with other countries.
The ministers agreed that those provisions would require more detailed analysis and directed officials to carry out that work and make recommendations for consideration at the next committee meeting.
Assisting the ministers during the meeting were officials from the three countries as well as the Pacific Islands Forum Secretariat.
