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

 

Gaza: Worst And Bloodiest Day Since The Beginning Of The Offensive

• Mass Killings in al-Shuja'iya Neighborhood in Gaza and Dozens of Dismembered Bodies Are in the Streets; More>>

ALSO:

Russia: Lack Of Access At Crash Site Of MH17

We are deeply concerned by the Russia-backed separatists’ refusal to allow OSCE monitors safe and unfettered access to the crash site of Malaysia Airlines flight MH17. Yesterday, the monitors were allowed only 75 minutes at the site. Today, they ... More>>

ALSO:

Syria: Palestinians In Refugee Camp 'will Likely Go Hungry'

Unable for more than a month now to deliver food and other supplies to Palestinians trapped in a refugee camp near Damascus, the United Nations agency tasked with ensuring their well-being said today it is urgently seeking to resume its humanitarian activities, ... More>>

Al Jazeera: Egypt Verdict Defies Logic And Any Semblance Of Justice

Following today’s verdict in Cairo, Al Jazeera English managing director Al Anstey said: “Today three colleagues and friends were sentenced, and will continue behind bars for doing a brilliant job of being great journalists. More>>

Papua New Guinea: Indonesian Troops Fire On PNG Soldiers Along Border

Indonesian troops have opened fire on a PNG Defence Force border patrol, increasing further tension at the Papua New Guinea-Indonesia border. The flare-up at the border compelled the Minister for Foreign Affairs and Immigration to summon the Indonesian ... More>>

World News: Internet Well On Way To 3 Billion Users - UN Telecom Agency

Releasing new statistics today, the United Nations International Telecommunications Union (ITU) announced that by end 2014, there will be nearly three billion Internet users – two-thirds of them from the developing world – with mobile-broadband ... More>>

Syria: Gunfire Impedes Food Delivery To Palestinian Refugees

Gunfire stopped distribution of food today in a besieged Palestinian refugee camp, a United Nations spokesperson confirmed today, reiterating demands that the UN agency assisting Palestinian refugees be allowed to safely and without interruption distribute ... More>>

Ukraine: Ban Welcomes Release Of Abducted Military Observers

Secretary-General Ban Ki-moon has welcomed the release earlier today of European military monitors and accompanying Ukrainian staff abducted a week ago in the country's crisis-torn eastern region, even as he expressed sadness at the loss of life... More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news