The Minister of Foreign Affairs and External Trade, Hon. Peter Shanel Agovaka, has emphasised that with sound policies and effective management, trade can be a powerful engine for economic growth, poverty reduction, long-term development, and enhanced resilience for Solomon Islands.
Minister Agovaka made the statement while chairing the 17th National Trade and Development Council (NTDC) Meeting held on Thursday, 31st July 2025.
“Trade plays a critical role in driving economic development, especially for developing countries like Solomon Islands,” Minister Agovaka stated.
“In today’s rapidly globalising world, we are presented with both new opportunities and significant challenges.
As global integration intensifies, Solomon Islands finds itself at a crossroads, navigating the benefits of increased connectivity and trade.”
Minister Agovaka reaffirmed the Government for National Unity and Transformation (GNUT)’s commitment to trade-led development, noting that the government recognises the vital role trade plays in boosting economic growth and improving livelihoods.
He highlighted that the GNUT Policy Statement commits to:
- Strengthening international trading partnerships to promote investment cooperation and facilitate the exchange of goods and services between nations, benefiting both local and global economies; and
- Initiating free trade policy discussions with partners to explore market opportunities and negotiate mutually beneficial trade frameworks.
“These goals are achievable,” he added,
“But they require coordinated efforts between government agencies and the private sector to build robust trade strategies, remove barriers to market access, and align domestic regulations with international standards.”
Minister Agovaka also acknowledged the valuable contributions made during the meeting by key government institutions, including the Ministry of Commerce, Industries, Labour and Immigration, particularly the E-Commerce Unit and Foreign Investment Division as well as the Registrar General’s Office under the Ministry of Justice and Legal Affairs, and his own Ministry.
The National Trade and Development Council continues to play a crucial role in facilitating policy dialogue and strengthening Solomon Islands’ trade and development agenda.
The National Trade Development Council (NTDC) was established to oversee the overall trade development processes, including trade policy formulation, trade mainstreaming into national development plans and ensure effective coordination and buy-in among various Government institutions, the private sector, civil society and other stakeholders, in Solomon Islands.
The NTDC setup by Cabinet in November 2012 is chaired by the Minister for Foreign Affairs and External Trade.
The Vice Chair representing the Public Sector is held by the Ministry of Commerce, Industries, Labour and Immigration (MCILI) and the Co-Vice Chair of the Council represented by private sector is held by the Solomon Islands Chamber of Commerce and Industry (SICCI).
—MFAET PRESS
