Tonga to develop comprehensive trade and investment policy framework
A joint team from the Pacific Islands Forum Secretariat (PIFS) and the Geneva based International Trade Centre (ITC) are currently in Nuku’alofa, at the request of the Government of Tonga, to assist the Kingdom revitalize the formulation of its national trade and investment policy framework.
The objective of the process and the trade and investment policy framework is to help guide the Kingdom of Tonga mainstream trade into its national development strategy.
Revamping the country’s trade and investment policy framework will help the government point to policy instruments that could improve the country’s trade performance, while providing guidance on how to mobilize resources to support necessary domestic reforms, trade-related adjustments and in building the private sector’s productive capacity to produce and supply value-added products and services into international markets.
An initial stakeholder consultation supported by PIFS and ITC is being held in Nukualofa, between 11-22 April, bringing together representatives from Tonga’s trade and related Ministries and Non-State Actors, including the civil society and private sector.
‘The Ministry of Foreign Affairs and Trade is seeking to develop a coherent trade policy framework within which the various strands of multilateral, regional and bilateral rights, obligations and negotiating objectives can be drawn together and aligned with national strategies for private sector development and export promotion,’ said Mr Va’inga Tone, Tonga’s Secretary for Foreign Affairs and Trade.
ITC Executive Director Arancha González said: ‘ITC is pleased to be joining forces with PIFS to support the Government of Tonga and the private sector in boosting the country’s exports. Identifying and realizing Tonga’s export potential will help create more employment and income, and will provide a foundation for building a sustainable future through sustainable trade.’
Notes to the editor
About Pacific Islands Forum Secretariat - The PIFS has supported the Pacific Forum Island Countries in formulating coherent national trade policy frameworks and in strengthening the linkages between trade, investment and private sector development. Apart from Tonga, Niue and Palau, such support has also been provided to the Federated States of Micronesia, the Republic of the Marshall Islands, Vanuatu, Nauru, Fiji, Solomon Islands, Cook Islands and Tuvalu.
More information: http://www.forumsec.org/pages.cfm/economic-governance/trade-policy-frameworks.html
About the International Trade Centre: ITC is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Global Goals. For more information, visit www.intracen.org. Follow ITC on Twitter: @ITCnewsAbout