By EDDIE OSIFELO
SOLOMON Islands is still to sign a proposed Maritime Cooperation agreement with Peoples Republic of China, senior government officials confirmed.
A draft copy of the Memorandum of Understanding on Deepening Blue Economy Cooperation between the Ministry of Commerce of the Peopleâs Republic of China and the Ministry of XXX of Solomon Islands has been circulated on social media.
A United Nations representative recently defined the Blue Economy as an economy that “comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable.
A senior government official told Island Sun he is aware of some discussions around Blue economy.
However, the official said it is still an intention, and no commitment yet as far as he knows.
âNot sure who to sign on behalf of Government. There has to be some consideration on who to sign it,â the senior government official said.
According to the draft, Article one states the Parties will uphold mutually beneficial and win-win development partnership, deepen practical cooperation in the field of blue economy, foster new growth drivers in the blue economy, and promote high quality development of bilateral investment cooperation, so as to accelerate the implementation of the 2030 Agenda, promote stronger, greener and healthier global development
Article 2 states the Parties will enhance synergy between blue economic development strategy and policy, encourage rural government, blue economy industrial organization, research institutes, financial institutions and business to enhance coordination, tap the potential of blue economy cooperation and comparative advantages, jointly carry out marine economy resources investigation and development planning, strengthen capacity building of blue economy, deepen investment cooperation in the blue economy, and jointly foster blue economy partnership for the future.
On Article 3, the Parties will encourage businesses to conduct investment cooperation in the blue economy, including but not limited to the following fields of industries:
- Mariculture, distant water fishing, seafood processing etc.;
- Marine biopharmaceutical, marine engineering technology, seawater desalination, marine salt industries etc.;
- Port wharves, submarine optical communication, shipbuilding and ship repair, ocean transportation etc.;
- Marine tourism and leisure services;
- Photovoltaics, wind power, tidal power and other clean energy and transmission network;
- Exploration and development of offshore oil, gas and mineral resources.
Article 4 highlights the Parties will promote the introduction of more pragmatic and efficient policies and measures, encourage and support businesses to jointly establish marine economic cooperation parks and deep-sea fishing bases, and create better and more attractive investment cooperation platform for enterprises of the two countries.
The Article 5 states the Parities will encourage businesses to in compliance with the requirements of the United Nation Convention on the Law of Sea, United Nations Framework Convention on Climate Change, the Convention on Biological Diversity and the carbon neutral commitment targets, fulfil environmental obligations, promote green design, green procurement, green construction, green production and green operation in the blue economy investment cooperation and facilitate the coordinated development of the local economy, society, people and the marine ecological environment.
Furthermore, Article 6 states Parties will encourage businesses to accelerate green and low carbon transformation, increase investment in green technology, jointly promote innovations in marine science and technology, green and low carbon technology and promote the application and transformation of science research achievements.
Article 7 states the Parties agreed with the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce of the Peoples Republic of China and XX Department of XX of the Executive Agencies in the Memorandum, to step up policy exchanges, implement the work set out in the Memorandum, and promote investment cooperation in the blue economy in a more pragmatic and efficient manner.
Under Article 8, any dispute about the interpretation or implementation of the Memorandum will be solved through consultations between the Parties, who will work in good faith to resolve differences by mutual agreement.
Article 9 states the Memorandum will come into effect on the date of signature and remain in effect for three years. Either party may terminate this Memorandum by providing written notification to the other Party three months in advance.
The termination of this Memorandum will not affect the completion of any cooperation activity which has been formalized while it was in force.
The Memorandum maybe amended by the mutual agreement of the Parties, formalized by an exchange of written communications, specifying the date of its entry into force of such amendment.
This Memorandum is a statement of the intent of the Parties and is not intended to create rights and obligations under international law.
Each party implementation of this Memorandum shall be consistent with its domestic law.