Apia,
Samoa (MTC Interim Secretary: September 4, 2014).
On the occasion of the historic signing
of the Treaty establishing the Micronesian Trade and Economic Community (MTEC),
Mr. Marion Henry, Secretary of the FSM Department of Resources and Development,
and Interim Secretariat of the new organization, indicated that the newly
established MTEC provides an “…institutional
framework as the appropriate channel through which programs and actions related
to sustainable economic development, such as the ones identified in the Outcome
Document of this 3rd International Conference for SIDS, would be best
delivered, implemented and monitored within our Sub-region.”
In effect Mr. Henry was
referring to the following actions identified in the Small Island Developing States Accelerated Modalities of Action (Samoa
Pathway) which have direct linkage with the vision, goals and objectives of
the MTEC: (1) enhancing the enabling environment at the national and regional
levels to attract more public and private investment in building and
maintaining appropriate infrastructure, including ports, roads, transportation,
electricity and power generation and information and communications technology
infrastructure; (2) fostering entrepreneurship and innovation, building
capacity and increasing the competitiveness and social entrepreneurship of
micro, small and medium-sized enterprises, as well as encouraging inclusive and
sustainable industrial development; (3) supporting national, regional and
international initiatives that develop and increase the capacity and
development impact of the financial services industry in small island
developing States; (4) encouraging entrepreneurs to start up environmentally
sound businesses through adequate and appropriate incentives; and promoting and
fostering an environment conducive to increased public and private sector
investment.
It is worth noting that the Work Program
2015-2019, which was adopted by the Ministers on July 16, 2014 in preparation
for the signing of the Treaty, contains similar actions to be implemented in
the FSM, RMI, and Palau. “This is not a simple coincidence that there
are similitudes between our Work Program 2015-2019 and the actions identified
in the Samoa Pathway; but rather, a clear indication that the three entities
have a clear idea of what needs to be done in order to advance the economic and
social conditions of our people, and ultimately achieve sustainable economic
development. We are glad that it is being recognized and articulated in the
Samoa Pathway,” says Mr. Henry.
The vision and
goals pursued by the FSM, RMI, and Palau through the Treaty are to “…endeavor towards the creation an economic
“community” through the promotion of sub-regional trade and economic
cooperation and integration to support the achievement of sustainable and
equitable socio-economic development of its Member States and improve the
standard and quality of life of their People, thus contributing to the progress
and development of Asia and the Pacific Region.”
The Treaty was signed
by Presidents Manny Mori of the FSM, Christopher Loeak of the Republic of the
Marshall Islands, and Tommy Remengesau Jr. of the Republic of Palau on
September 3 in Apai, Samoa at the margins of the 3rd International
Conference for Small Islands Developing States.
For
more information on the treaty establishing the Micronesian Trade and Economic
Community, please contact the Interim Secretariat (FSM Department of Resources
and Development) at telephone number (691) 320-5133.
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