Thursday, November 21, 2013

China Vice Premier Wang commits $10 Million grant during FSM-China Bilateral

FSM President Mori addressing the 2nd China-Pacific Island Countries Economic Cooperation and Development Forum on November 8, 2013

(Guangzhou, China) – President Emanuel Mori attended the recently concluded Second China-Pacific Island Countries Economic Cooperation and Development Forum held on November 8, 2013 in Guangzhou, China.  The Forum was a high-level event that brought Chinese leaders together with the leaders of Pacific Island Countries including the FSM.  The first Forum was held in Nadi, Fiji in 2006. 

The objective of the Forum was to discuss China’s economic cooperation and development assistance for the Pacific island countries. In his statement to the Forum, Vice Premier Wang Yang announced China’s financial assistance in the amount of $2 billion to the Pacific island countries which have diplomatic relations with China. $1 billion will be in concessional loans by China's Export-Import Bank and the $1 billion will be administered by the China National Development Bank for infrastructure projects.

At the margins of this Forum, FSM and China held a bilateral discussion during which Vice Premier Wang announced a $10 million dollar grant to the FSM. An MOU on this economic and technical grant was signed by Secretary of Foreign Affairs Hon. Lorin Robert on behalf of the FSM and Vice Premier Wang on behalf of the People’s Republic of China.

In his address at the Forum, President Mori acknowledged that the Forum represents another opportunity for the FSM to continue strengthening its diplomatic relations with China. He further emphasized the need for the Pacific island countries to be strategic in approaching development assistance given the prevailing global financial challenges. Furthermore, President Mori underscored the need for China to be more systemic and forthcoming in terms of announcing its development assistance so that these grants can be taken into account during the formulation of FSM’s annual budgets.

Four seminars were also held at the margins of the Forum in the areas of Agriculture and Fisheries, Environmental Protection, Trade and Investment, and Tourism.  Members of President Mori’s delegation participated in these seminars and workshops.

Accompanying President Mori were some members of his cabinet, diplomatic staff from the FSM Embassy in China, and representatives of the private sectors of the four states.

For more information on outcome of this Forum, please contact the FSM Departments of Resources and Development and Foreign Affairs. 

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