China offers Solomon Islands zero tariff for trade: Agovaka
BY LORETTA B. MANELE
China has become the first major economy to offer zero tariff for all LDCs export (Least Developing Countries) including Solomon Islands.
This was revealed in parliament by Peter Shanel Agovaka, the minister of Foreign Affairs and External Trade (MFAET) and Member of Parliament for Central Guadalcanal constituency last week.
“I’m pleased to inform the house that China has become the first major economy to offer zero tariff for all LDCs export. This was done a week ago.”
Agovaka mentioned that no other country in the Pacific or the United States has done this as they are protective of their industry.
He said this is “good for the country and can help us to graduate from our LDC status”.
Agovaka stated that his ministry is looking at other products like noni juice, cocoa and coffee, non-endangered farmed corals and copra oil.
“The ministry is also working with relevant line ministries in preparedness to trade with the People’s Republic of China (PRC) and to operationalise the SPC protocol we have signed as well as to ensure that our agriculture products are properly registered and can be effectively delegated with ease in trade facilitation processes.”
Agovaka however noted that market access and mutual recognition with our trade partners on trade facilitation process alone does not automatically lead to immediate quantifiable trade gains.
Hence, the need for collective consideration in necessary work for building the capacity of productive sectors that are critical for the integration of our rural homes growing into the mainstream economy and trade.
Agovaka told parliament that Solomon Islands formalised its relationship with China five years ago, have signed the non-reciprocal agreement with China and now it is on Solomon Islands part to take up the opportunity presented.
He noted that the Government for National Unity and Transformation (GNUT) government’s 100 days policy programme calls on progress to make the sanitary protocol active so we can progress trade with China.
