The symposium recognized that more time was needed by the private sector and state governments to contribute to ongoing trade negotiations, including the Economic Partnership Agreement with the European Union, the Pacific Trade Island Countries Trade Agreement, the Pacific Agreement on Closer Economic Relations between Australia and New Zealand on the one hand, and Pacific Island Countries on the other hand.
With regard to the Pacific Trade Island Countries Trade Agreement on Trade in Services, considering the possible impact that such a free trade agreement might have on the local business, participants recognized the need to identify potential interests and benefits for the local business community.
In this perspective, the symposium considered a questionnaire prepared by the FSM Department of Resources and Development, with the technical assistance of the Hub and Spokes Project under the Commonwealth Secretariat, and recommended that it serve the basis for a survey in all the four FSM states before the next round of negotiations.
Discussing other ongoing trade negotiations, participants strongly emphasized the need for a detailed trade facilitation component to address critical issues affecting trade in the Pacific Region, including transportation, infrastructure to meet quarantine and standard requirements, and capacity building.
Present during these consultations were representatives from national, state and municipal governments, the FSM Congress, Pohnpei and Kosrae state legislatures, the private sector, and a consultant from the Pacific Islands Forum Secretariat.
