FSM Department of Resources & Development
May 5, 2017
The Division of Trade and Investment, FSM Department of Resources and Development recently conducted Phase I of the review and update of the FSM 2011 National Trade Policy, which identifies a set of recommendations to promote and facilitate private sector development and foreign direct investment in priority sectors in order to achieve export-led economic growth and sustainable development, creating employment, improving services, alleviating poverty with the ultimate objective of raising the standards of living in the FSM.
Consultations with National Government agencies took place in Palikir on April 10-11, 2017, and were attended by Secretaries and Officials from FSM Department of Health and Social Affairs, Education, Customs and Tax Administration, Foreign Affairs, OEEM, Agriculture, NORMA, Banking Board, and Agriculture. Consultations with state stakeholders took place in Pohnpei on April 12-13, Chuuk on April 19-21, and Yap on April 24-25, 2017. During State consultations, the Trade Policy Review Team met with the Honorable Reed Oliver, Lt Governor, State of Pohnpei; Hon. Johnson Elimo, Governor, State of Chuuk; Hon. Tony Ganngiyan, Governor of Yap State and Hon. James Yangtemai, Lt Governor of Yap, government officials, private sector representatives, farmers groups and associations, and non-civil organizations.
The trade policy review team was comprised of Mr. Florian Yatilman, Assistant Secretary, Division of Trade and Investment; Mr. Herman Semes, Business Development Adviser, and Mr. Jean Bertrand Azapmo, National Trade Advisor under the Hub & Spokes II Programme funded by the European Union, the ACP Secretariat, the Commonwealth Secretariat, and l’Organisation Internationale de la Francophonie, APTA Secretariat, and the Pacific Islands Forum Secretariat. Secretary Marion Henry and Mr. Bermance Aldis, Tourism Program Manager, joined the consultations in Chuuk State, where they discussed the implementation of projects identified in Chuuk State Tourism Investment Plan.
In each States, the Trade Policy Review Team began with a discussion on stakeholders awareness of the FSM trade policy, followed by an evaluation of activities, programs, and initiatives undertaken as well as legislation put in place by State and National Governments between 2012 and 2016, with a view to achieve the Trade Policy objective of promoting and facilitating private sector development and foreign direct investment in priority sectors in order to achieve export-led economic growth and sustainable development. Finally, the review also covered the functioning of National and State Trade Facilitation Committees established to oversee and coordinate the implementation of the Trade Policy.
The preliminary findings suggest limited awareness of the trade policy, limited capacity to implement trade policy recommendations, and ineffective State Trade Facilitation Committees. Consultations in Kosrae are scheduled for June 2017.
In the margins of the Trade Policy Review, the Team also held discussions with stakeholders on recommendations to strengthen the SBDC network in the FSM, elements of the proposed Economic Roadmap, and the proposed FSM Start’n Grow, a financing scheme to support private sector development in priority areas identified under the Strategic Development Plan and the proposed Economic Roadmap.
For further clarification on any of the above, please contact Mr. Florian Yatilman, Assistant Secretary, Division of Trade and Investment, FSM Department of Resources and Development on Tel.3205133, email email@example.com.