15 May 2012

Marshall Islands President approves nations first trade policy framework

10:15 am on 15 May 2012

The President of the Marshall Islands, Christopher Loeak, has announced the approval of the nation's first Trade Policy Framework.

Yokwe Online reports that President Loeak made the announcement at the opening of the 2012 Pacific Forum Trade Ministers Meeting in Majuro.

The President says the main objective of the Trade Policy is to mainstream trade into the Marshall Islands' national development plan.

He says it will allow the country to undertake necessary reforms in trade and investment laws to create a transparent and predictable environment, conducive for sustainable, inclusive and private sector-led economic growth and development.

The President adds that the Trade Policy will assist the country to accede to the Pacific Island Countries Trade Agreement, and participate effectively in negotiations on the regional trade deal, PACER Plus.