28 Feb 2011

Solomons PM announces plans for Pan Melanesian Economic Union

7:25 pm on 28 February 2011

The Solomon Islands Prime Minister Danny Philip has announced his intention to present to the Melanesian Spearhead Group, a country initiative on the concept of developing a "Pan Melanesian Economic Union".

The government communication unit says the proposed Pan Melanesian Economic Union is aimed at harnessing regional investment financing, investments in telecommunications, mining, aviation, shipping and tourism.

Prime Minister Philip says the MSG's private sector will be consulted to develop the idea so that political will can be exercised to promote large-scale investment in the region.

Last Friday, he told a business meeting of Papua New Guinea Investors and Solomon Islands officials in Honiara that the idea, when developed, will accelerate economic growth in Melanesia.