The Kiribati Government is tabling a bill to amend its shipping legislation.
The bill will enable the government to take the first step to join over fifty other countries offering a flag of convenience to merchant ships.
It will need to pass through Parliament's two consecutive readings, if it is to go ahead.
The Transport minister, Natan Tewe, who presented the bill for its first reading says the move will require Kiribati to ratify a series of international conventions on maritime law.
Other regional countries that have an open ship registry are Tuvalu, Vanuatu and Cook Islands.
