9 Jun 2014

FSM signature kicks off Trade and Development Facility

6:12 pm on 9 June 2014

The Federated States of Micronesia is the 10th country to sign a Memorandum of Understanding to establish the Pacific Regional Trade and Development Facility.

The Pacific Islands Forum Secretariat says with 10 countries now signed up, the facility can enter into force and provide Pacific nations with greater ownership of their trade-related development needs.

The Forum's Deputy Secretary General, Cristelle Pratt, says the memorandum of understanding will enable an historic development of trade and development in the region.

Ms Pratt says the facility allows for a regional approach that will promote better co-ordination and more effective Aid for Trade programmes in the Pacific.

Fiji, Kiribati, Nauru, Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu have already signed the document.