Toribiong in a briefing with the media said that no meeting has been set since the July review, the deadline will not be met and set the target to summer of 2010.
He however reiterated that the United Congress will pass the one-year extension requested by the Palau government by Oct.1.The president said that a technical meeting is supposed to be set in order for the Palau Compact representatives to present the country’s financial and economic data in order to engage in a proper review.The president said that during the United Nations General Assembly which he will be attending, he will be meeting with Alcy Frelick, Director of the Office of Australia, New Zealand and Pacific Island Affairs and head of the United States Compact review group.Frelick in a letter to President Toribiong asked for a meeting while he is in the U.S.“There are several bilateral items of interest that would be worthwhile discussing, and it would advantageous to meet while you are in New York,” Frelick said.He added that although the meeting might not be in a formal Compact review setting, she will be answering queries or clarifications on the U.S. proposal.Earlier the Compact Review Commission rejected the proposal of the U.S. Compact Review Representatives to hold the next meeting in Guam.Palau representatives cited budgetary constraints and wide discrepancy between Palau and U.S. respective proposals regarding the review. Ambassador and Chief Representative of the Compact Review Joshua Koshiba said he does not think that a formal session of the review at this time “would be productive.” The US has said to have proposed a reduction of financial assistance to Palau as years progressed. The president said although the U.S. has agreed to a one year extension, the proposal was that by year 2011, the country will not get the same amount it is receiving from the U.S.He said that under the 2009 level, Palau will only drawdown $5 million from the Trust Fund. Without the extension, Palau can withdraw up to $15 million from the trust fund. Presently the Trust fund amounts to a little over $130,000,000.Koshiba said the proposal of the U.S. will reduce the Compact Trust Fund to zero by year 2017.He added that the next position of Palau in the next meeting is a technical one so that it can have time to conduct a serious examination and analysis of Palau’s requirements, including its capabilities.