The ITC and UNCTAD to Assist Members of the MTEC

The International Trade Centre and UNCTAD to assist Members of the Micronesian Trade and Economic Community (MTEC) to assess their trade and investment facilitation conditions and needs with a view to enhance their export competitiveness and investment attractiveness

Palikir, Pohnpei, MTEC Interim Secretariat: March 25, 2015.

In response to a technical assistance request submitted by the MTEC Interim Secretariat to assist MTEC Member States to conduct an assessment of their trade and investment facilitation regulatory and policy framework, ITC Executive Director Ms. Arancha Gonzalez wrote to Secretary Marion Henry on March 16, 2015 in his capacity as the Interim Secretariat for the MTEC informing him that ITC has acceded the request for technical assistance. Ms. Gonzalez confirmed the ITC through its section on trade facilitation for business has the necessary expertise to assist the three Countries (FSM, RMI, and Palau) to conduct an assessment of their trade policy/regulatory framework for export competitiveness and investment attractiveness. In acknowledging ITC’s positive response, the Honorable Marion Henry, Secretary of the FSM Department of R&D/MTEC Interim Secretariat, expressed MTEC Member Countries’ appreciation and pledged the full collaboration of the MTEC Interim Secretariat and support to work with ITC to achieve the intended outcomes of the assessment.

This Project will include a number of deliverables and outputs such as advisory services, public private dialogue sessions on trade and investment facilitation, and capacity building of policy makers/private sectors so as to ensure coherence in the reform process. Other key partners in this exercise include the United Nations Conference on Trade and Development, which will be assessing shipping connectivity in the Micronesian region and its impact on trade and investment facilitation. The assessment of MTEC trade and investment facilitation needs and conditions is identified under the 2015-2019 MTEC Work Program, as one of the top priorities to facilitate the establishing of rules, institutions, and infrastructure to facilitate trade and investment between the Micronesian Countries and between the Micronesian Region and the rest of the world.

ITC and the MTEC Interim Secretariat supported by the Hub & Spokes II Programme under the Commonwealth Secretariat will start working on the details to undertake this very important exercise, which is scheduled to take place in July 2015.

For more information on the assessment of MTEC Member States trade and investment facilitation conditions and needs, please contact the Interim Secretariat (FSM Department of Resources and Development), at telephone number (691) 320-5133.

Posted in Press Releases