Commonwealth doors open for Pacific Island businesses

27/10/2011

<p style="text-align: justify;">The Commonwealth Business Council (CBC) and Pacific Islands Trade &amp; Invest (PT&amp;I) this week signed an MOU to work together on business and investment opportunities between Forum Island states and Commonwealth nations.<!--more--></p>


[caption id="attachment_1925" align="alignright" width="250" caption="Photo caption:Pacific Islands Forum Secretary General Tuiloma Neroni Slade (centre) and CBC Managing Director Steve Godfrey (right) sign the MOU as Australian Member of Parliament and Parliamentary Secretary for Pacific Island Affairs Richard Marles looks on."]<a href="https://pacifictradeinvest.com/PTI/wp-content/uploads/2011/10/CHOGM-Pacific1.jpg"><img class="size-full wp-image-1925" title="CHOGM - Pacific1" src="https://pacifictradeinvest.com/PTI/wp-content/uploads/2011/10/CHOGM-Pacific1.jpg" alt="" width="250" height="150" /></a>[/caption]
<p style="text-align: justify;">The MOU was signed on the first day of the Commonwealth Business Forum ahead of the biennial 54-nation Commonwealth Heads of Government Meeting (CHOGM 2011).</p>
<p style="text-align: justify;">The CBC, which organises the business forum, provides a bridge between the private sector and government, between emerging markets and developed markets and between small business and the international private sector. PT&amp;I is the Pacific Island Forum’s export, tourism, trade and investment promotion arm with offices in New Zealand, Australia, China and Japan.</p>
<p style="text-align: justify;">As part of the MOU, which was signed by Pacific Islands Forum Secretary General Tuiloma Neroni Slade and CBC Managing Director Steve Godfrey, builds a bridge between Pacific Island businesses and those in the rest of the Commonwealth nations.</p>
<p style="text-align: justify;">The document covers wide ranging measures to promote business and investment meant to benefit island nations and the nations of the Commonwealth including sharing knowledge, information and business intelligence, human resources development, training and exchange of personnel between the signatories.</p>
<p style="text-align: justify;">The two parties also will work together to explore trade and investment opportunities as well as establish trading relationships in each other’s national groupings. Within three months of the signing, the parties will identify a start up programme to initiate cooperation under the MOU, which runs until December 31, 2013.</p>
<p style="text-align: justify;">“The MOU is a gesture of confidence from our region to reach out, to demonstrate our ability to do business with the wider Commonwealth community. We need to encourage our private sector to do more to tap into this emerging opportunity. This is a great start for enabling greater business and investment flows between the Pacific Islands and the Commonwealth,” Secretary General Slade said after the signing ceremony.</p>
<p style="text-align: justify;">The ceremony took place at a special session on opportunities in the Pacific Islands at which Australian Member of Parliament and Parliamentary Secretary for Pacific Island Affairs Richard Marles was also present and witnessed the document.</p>
<p style="text-align: justify;">This is the first time that the Pacific Islands were represented at a CHOGM event. PT&amp;I Trade Commissioner for New Zealand , Adam Denniss led a delegation of private sector representatives from seven island nations.</p>
<p style="text-align: justify;">The signing of the MOU was acknowledged as one of the highlights of the first day’s proceedings and received a mention in CBC Secretary General Mohan Kaul’s vote of thanks address at the gala dinner, which Australian Prime Minister Julia Gillard as well as the heads of several Commonwealth nations and top international and Australian businesspeople attended.</p>

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