World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Tuvalu Eyes Trade to Promote Development

Tuvalu Eyes Trade to Promote Development

[Funafuti – 30 Jan, 2013] Tuvalu is looking to trade to achieve some of its key development objectives, including alleviating poverty. The Tuvalu Government is seeking to achieve this through the Trade Capacity Building and Institution Strengthening project, launched today. The project will assist the Department of Trade, the private sector and civil society in strengthening their capacities to formulate, implement and assess trade policies.

A Diagnostic Trade Integration study conducted in 2010 shows that Tuvalu has the potential to increase its import earnings while at the same time improve the quality of life of the people through increased livelihood opportunities and food security. However, before it can do so, its policies and processes need to be strengthened. The target areas are those that are currently bringing in foreign exchange. This includes its labor mobility market, for example, seamen working in foreign owned vessels, and earnings from fishing licenses.

A modern, coherent, sustainable and inclusive trade policy is essential for Tuvalu’s integration into the global trade arena. The policy should be aligned to the national development policies, addressing climate change, poverty reduction, health and food security that voice the aspirations of the population at large, including women and vulnerable groups. The project aims to better prepare the country in terms of its negotiations in regional and international forums and in exploring opportunities for better returns for its citizens. Key to this is the capacity building of government institutions working in the area of trade; developing trade policies that support poverty reduction, inclusive economic growth and equitable sustainable development; as well as supporting the private sector, civil society and other stakeholders to enhance trade. The project will also help improve donor coordination, and Aid for Trade in line with the Paris Declaration on Aid Effectiveness.

The Tuvalu Trade Capacity Building and Institution Strengthening will be managed by the United Nations Development Programme (UNDP) and implemented through the Ministry of Foreign Affairs, Trade, Tourism, Environment and Labour. The project, which has received USD$1.1 million funding from the Enhanced Integrated Framework for Trade Related Activities in Least Developed Countries (EIF) – a multi donor trust fund based in WTO Geneva, will run for three years and end in 2015. The project was launched in Tuvalu today by the Deputy Prime Minister and the Acting Minister for the Ministry of Finance and Economic Development, Hon. Kausea Natano, together with the UNDP Deputy Resident Representative Ms. Akiko Fujii. Prime Minister Hon. Willy Telavi and his wife were also present at the launch.

Ends

© Scoop Media

 
 
 
 
 
World Headlines

 

Gordon Campbell: On Britain's Pleas For Mercy

So… Boris Johnson is promising that he won't be holding a snap general election, if he's chosen as the next UK Conservative Party leader. Reportedly, he is even making that promise a feature of his leadership campaign, since a vote for Boris would therefore mean (wink wink) that his colleagues wouldn't have to risk their jobs and face the wrath of the British public until 2020. More>>

ALSO:

Gordon Campbell: On The Aftermath Of Brexit

Be careful of what you ask for. Now that it has woken up from its Brexit victory hangover, is Britain acting as if it has just won the World Cup? Hardly. More>>

ALSO:

UK Labour Statement: The Shooting Of MP Jo Cox

Jeremy Corbyn MP, Leader of the Labour Party said: “The whole of the Labour Party and Labour family - and indeed the whole country - will be in shock at the horrific murder of Jo Cox today. Jo had a lifelong record of public service and a deep commitment to humanity." More>>

ALSO:

Wellington.Scoop: Rainbow Colours On MFC In Sympathy For Florida Killings
Wellington’s Michael Fowler Centre will be lit in colours of the rainbow Monday as a gesture of support for the LGBTI victims of the Pulse nightclub attack in Orlando, Florida. More>>

ALSO:

Gordon Campbell: On How Obama’s Supreme Court Choice Says Everything (Bad) About His Presidency

Nothing has epitomised the presidency of Barack Obama quite like his Supreme Court nominees. Time and again, Republican presidents will blithely nominate right wing ideological extremists (Antonin Scalia, Samuel Alito, Clarence Thomas) who only sometimes misfire and turn out to be liberals in disguise (David Souter). Yet Obama has consistently skipped over the judicially qualified liberals and gone for a succession of centrists... More>>

ALSO:

Turkey: UN Secretary-General On The Terrorist Bombing In Ankara

The Secretary-General condemns the terrorist attack in Ankara earlier today. According to the latest reports, the explosion in the Kizilay district killed and wounded dozens of people. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news