Tuesday, 24 July 2007 11:41 AM

Regional Economic Integration Dominates FEMM meeting

The Finance Minister Gordon Darcy Lilo, in a press conference, informed the local media of the outcome of the Forum Economic Ministers Meeting (FEMM) held recently in Palau.

Mr Darcy Lilo said that apart from many pressing issues such as labor mobility, the ministers also discussed economic integration along with debates on what sort of arrangement the integration should take.

"There are certain key areas we can achieve regional economic integration in and one of the areas is in the Telecommunications sector modeled on the Caribbean Telecommunication Corporation, which is shared between at least four or five countries of the Caribbean," Lilo said.

Mr. Lilo said to achieve the Telecommunication integration, more studies ought to be carried out in competition and pricing. With Trade, Lilo said that necessary baseline surveys need to be carried out to see how best Pacific Islands countries can go about harmonizing trade between themselves.

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