The New Zealand Pacific Business Council brings the latest business, trade and economic news from around the region.
Pacific Affairs Policy Released
The National Party’s Pacific Affairs policy was released at a NZPBC seminar featuring National Party MPs Judith Collins and John Hayes on 15 October. The policy offered development assistance to the region and retention of the RSE programme. Labour’s Hon Luamanuvao Winnie Laban and Hon Shane Jones spoke on the RSE programme at a similar NZPBC event last month.
PIPSO Conference in Apia
Private sector members from the region along with donors are meeting in Samoa to thrash out issues that they believe can better themselves as key regional players. Delegates from the Cook Islands, Samoa, Fiji, Tonga, Papua New Guinea, Solomon Islands are represented at the conference. (Source: Pacific Magazine, 16 October 2008)
Pacific Nations Will Be Hit Hard By Global Economic Downturn
The Pacific Island Forum's Director of Economic Governance, Roman Grynberg, cautioned the island states, saying prices for commodities produced in the Pacific such as cocoa have already dropped by up to 30 percent. (Source: Pacific Magazine, 16 October 2008)
Taiwan cancels summit
Taiwan has cancelled a summit with six Pacific island allies originally scheduled to be held in the country next month. (Source, Waikato Times, Monday, 13 October 2008)
FIJI SIGNS PACIFIC ISLANDS AIR SERVICES AGREEMENT
Fiji’ interim government will sign the Forum’s Pacific Islands Air Services Agreement (PIASA) aimed at establishing a framework for gradual integration of aviation services for member Pacific nations. (Source: PIR, 9 October 2008)
FFA meeting pushes cooperation on illegal fishing
At the second meeting of Parties to the Niue Treaty on Cooperation in Fisheries Surveillance and Law Enforcement in the South Pacific Region, held yesterday in Apia, Samoa, Pacific Islands Forum Fisheries Agency (FFA) members agreed to cooperate further to combat illegal fishing. (Source: Pacific Magazine, 16 October 2008)
ADB Helps Pacific Nations improve energy use
The Asian Development Bank (ADB) is helping Cook Islands, Papua New Guinea, Samoa, Tonga, and Vanuatu cope with high fuel prices and climate change by providing assistance to help reduce wasteful consumption of commercial energy and promote energy efficiency with the Clean Energy Fund worth $1.2 million. (Source: RNZI, 13 October)
AMERICAN SAMOA
KOREAN COMPANY BUYS STARKIST IN PAGO PAGO
Del Monte Corporation has completed the sale of its seafood business, including StarKist, to Dongwon Industries Co., Ltd. ("Dongwon Industries") and its subsidiaries (collectively, "Dongwon") for approximately $359 million, including an adjustment for the preliminary estimate of working capital which will be updated once the final working capital is determined. (Source: PIR, 8 October 2008)
CNMI
CNMI GOVERNOR VETOES TINIAN LAND USE BILL
Governor Fitial vetoed a bill that would have reserved public lands on Tinian for agricultural homesteads and commercial uses, saying the measure violates the CNMI Constitution which mandates that the executive branch decides on such issues. (Source: PIR, 15 October 2008)
PAGAN MASTER PLAN CALLS FOR $5 MILLION AIR STRIP
The expansion of the airstrip on the pozzolan-rich island of Pagan will cost US$4.9 million, according to the master plan commissioned by the Commonwealth Ports Authority. Pozzolan is a kind of volcanic ash that is highly valued as an additive in high quality cement. (Source: PIR, 8 October 2008)
COOK ISLANDS
WORK BEGINS ON INDOOR SPORTS COMPLEX
Eight foundation stones were laid at the construction site of the new indoor sports complex in Nikao yesterday. The laying of the stones marks the handover of the site to the construction company from China that will start building it. Cook Islands Investment Corporation chairman Tapi Taio called it the marking of another milestone in the partnership and cooperation between the Cooks and China. (Source: PIR, 8 October 2008)
Cook Islands lawyer seeks judgement over Aitutaki Sunday flights
The government adopted a trial plan allowing Sunday flights from Rarotonga to Aitutaki in June, despite a petition signed by 900 people on Aitutaki opposing the move. (Source: RNZI, 13 October 2008)
FIJI
Fiji case dismissed
The much-awaited ruling on the case by ousted Prime Minister Laisenia Qarase against the interim regime in Fiji and the State was last week dismissed by the High Court in Suva. (Source, Waikato Times, Monday, 13 October 2008)
Cement factory all go
Fiji businessman Hari Punja recently signed an agreement with a Chinese investor for the construction of a cement factory in the country. (Source, Waikato Times, Monday, 13 October 2008)
USP to build 4th campus
The University of the South Pacific has reaffirmed its commitment to establishing its 4th campus in the Solomon Islands despite facing financial problems. (Source, Waikato Times, Monday, 13 October 2008)
U.S. UNMOVED BY FIJI COURT JUDGEMENT
Outgoing U.S. President George W Bush says the U.S. is ready to help in efforts to restore democracy to Fiji but the suspension of aid to Fiji will remain. (Source: PIR, 14 October 2008)
GUAM
GUAM ECONOMY DOWN IN DUMPS
The dollar's purchasing power on Guam has shrunk to 64 cents over the last decade, new data show. As Guam consumers' spending power weakened, chances of finding a second or better job to cope with a higher cost of living may have dimmed, compared to the job market last year. (Source: PIR, 8 October 2008)
HAWAII
Conference on Business Opportunities in the Islands
The U.S. Department of the Interior is pleased to announce that it will be hosting its fifth Conference on Business Opportunities in the Islands, April 6-8, 2009, in Honolulu. The Conference is the next major event in the ongoing initiative of the Department of the Interior to foster private sector-led economic development in the U.S.-affiliated insular areas. (Source: www.businessopportunitiesconference.com)
PNG
PNG to subside flights
The PNG Government will subsidise all Air Niugini flight to Japan in a bid to save the country losing millions in tourism from Japan. (Source, Waikato Times, Monday, 13 October 2008)
Refugee smuggling pays
Tamil refugees are paying up to PGK30,000(NZ$20,000) to be smuggled into PNG and given a job. (Source, Waikato Times, Monday, 13 October 2008)
Govt signs off PNG complex
The Solomon Islands Government has signed the Contract Agreement and Tender Documents for the construction of the New Solomon Islands High Comission Chancery Building Complex in Port Moresby. (Source, Waikato Times, Monday, 13 October 2008)
GOVERNMENT URGED TO PLAN FOR FINANCIAL CRISIS
The Port Moresby Stock Exchange (POMSoX) has told the Government to immediately come up with contingency plans to cushion the impact of the global financial crisis on Papua New Guinea. POMSoX listings manager Vincent Ivosa said governments in other countries were taking steps to bail out their troubled financial sectors and "PNG should stop relaxing and start planning". (Source: PIR, 15 October 2008)
AIR NIUGINI TO FLY DIRECT TO KUALA LUMPUR
Air Niugini will start flying direct to Kuala Lumpur in Malaysia this month. (Source: PIR, October 2008)
DEADLY BLIGHT RUINS POTATO CROPS
PNG’s potato industry faces imminent closure and the Government is to be blamed, says a leading fresh food supplier [who says] a new deadly disease had penetrated the industry, which earned PGK100 million [US$40 million] a year for the country, and the disease had affected industry since 2003 through illegal imported potatoes from Australia, which did not undergo proper quarantine checks. (Source: PIR, 15 October 2008)
PNG SETS UP CARBON TRADING AGENCY
Emissions trading has increased in recent year. All activities aimed at reducing emissions from deforestation and degradation (REDD) and eco-services will be controlled by the National Government. [PIR editor’s note: Allows landowners to sell their surplus carbon emissions to more industrialized countries.] (Source: PIR, 16 October 2008)
HUNDREDS OF ILLEGAL CHINESE WORKERS
Up to 300 Chinese are allegedly entering Papua New Guinea as executives for the Ramu nickel mine every week without being checked by customs, security officers and immigration. (Source: PIR, 10 October 2008)
GOVERNMENT TO SUBSIDIZE AIRLINE’S JAPAN FLIGHTS
The Government will subsidize all Air Niugini flights to Japan in a bid to save the country losing millions in tourism from Japan. (Source: PIR, 9 October 2008)
SOLOMON ISLANDS
Digicel to launch in Solomons
Telecommunication company Digicel is gearing up to launch its mobile phone network in Solomon Islands after the Government’s move to deregulate the industry. It follows the successful launch of Digicel services in Samoa, PNG, Tonga, Vanuatu and Fiji. (Source, Waikato Times, Monday, 13 October 2008)
TONGA
Tonga E-Government in World Top 20
The Government of Tonga has been ranked in the top 20 E-Government studies from a total of 198 participating nations around the world in 2008. The Prime Minister’s Office Website underwent a major revamp this year, with assistance from Pasefika Solutions, headed by [NZPBC Co-Deputy Chair] Melino Maka. During the Coronation of King Siaosi Tupou V, the website www.pmo.gov.to received 2.2 million hits. (Source: Tonga Prime Minister Office, 13 October 2008)
Airline Tonga suspended
Airline Tonga’s air operators certificate has been temporarily suspended. (Source, Waikato Times, Monday, 13 October 2008)
FUA'AMOTU AIRPORT GETS UPGRADE
The airport upgrade undertaken this year by Tonga Airports Ltd.has included a major clean-up of the check in and departure halls, the installation of new seating and air-conditioning and renovations of the restrooms. The Leiola Group is leasing the cafeteria and began offering refreshments and food on Thursday for the departure of the Air New Zealand and Pacific Blue passengers. The services of a separate VIP Lounge have been commercialised and are now extended to passengers for a fee. (Source: PIR, October 2008)
VANUATU
MINIMUM WAGE NEARLY TRIPLED
Vanuatu has raised its minimum wage from US$87 to US$243 a month. (Source: PIR, 14 October 2008)
BUSINESSES URGE ACTION ON TRADE DEFICIT
Vanuatu's chamber of commerce wants the government to be more proactive in promoting local manufacturers. The Chamber's General Manager, John Aruhuri, who just held a Trade Fair in Port Vila, says last year Vanuatu imports were worth around US$200 million, compared with exports of around US$30 million. " (Source: PIR, October 2008)
