Agreement signed to promote economic development

By Adel Fruean 27 November 2021, 10:38PM

An agreement has been signed between the Samoa Chamber of Commerce and Industry and the Australia-Pacific Islands Business Council to promote economic development and employment growth.

The new agreement recognises the common goal of both parties to support and promote inclusive economic development and employment growth in Samoa. The signing of a memorandum of understanding (M.O.U.) was held earlier in the week.

According to the Chamber President, Michelle Macdonald, the agreement represents a pathway in line with a greater commitment in the region as a private sector.

“To enhance our economic development and investment opportunities within our countries, this platform is a great catalyst towards assisting Samoa’s economic recovery particularly post-COVID,” she said.

The Australia Pacific Islands Business Council President Ian Clarke said the agreement was a milestone in terms of business relations between Australia and Samoa. 

He said in 2020 the council committed to the Blue and Green Pacific policy and to support closer Australian business relations with the Pacific, including through sustainable resilient infrastructure development and related capacity building in local businesses amongst others.

“The coming into effect of the Pacific Agreement on Closer Economic Relations (P.A.C.E.R. Plus) to which both Australia and Samoa are parties has the potential to create new synergies and opportunities for business growth,” he said in a joint statement issued by the Chamber and the Council.

“As the largest economy in the south-western Pacific Australian business has much to contribute to the post-COVID economic recovery of Pacific islands countries.

“And the signing of this M.O.U. positions the Australia Pacific Islands Business Council to assist Australian business connect with businesses in Samoa through its enhanced relationship with the Samoa Chamber of Commerce and Industry."

The Council is an independent association of businesses based in Australia and the Pacific Islands. It was established in 2000 with the aim of providing a framework within which the private sector can communicate with the Australian and Pacific Islands governments at the highest political and policy advising levels with a view to finding solutions to trade and investment issues. It also provides members with an unparalleled network to help further their business goals in the Pacific Islands region.

By Adel Fruean 27 November 2021, 10:38PM
Samoa Observer

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