. /.   WORLD TRADE  
ORGANIZATION  WT/MIN(09)/ST/132 
21 January 2010 
 (10-0317) 
MINISTERIAL CONFERENCE 
Seventh Session Geneva, 30 November - 2 December 2009 Original:   English 
 
  
SOLOMON ISLANDS 
 
Statement by Honourable William Haomae
 
Minister for Foreign Affairs and External Trade  
   A recent study by the Asian Development Bank forecasts that economic growth in the Pacific 
Island nations will slow to 3 per cent in 2009, and 2.7 percent in 2010, as the effects of the global 
financial and economic crisis takes its toll on our islands. 
  As a net commodity exporter, Solomon Islands, was amongst the first countries in the Pacific to be exposed to lower commodity prices and result ant decline in foreign reserves, triggered by the 
collapse in global demand for commodities.  This  slump in commodity prices and their demand 
directly impacted on Government revenue, where Solomon Islands finds itself confronted by a fiscal 
crisis which does not allow for any possibility of expansionary monetary pol icy and public sector 
investments that could cushion the negative eff ects of these exogenious shocks on the economy. 
  In this context, development part ners have an important role to play in helping Pacific Islands  
economies mitigate the impact of the global fina ncial and economic cris is through budget support 
measures, capacity building and other appropriate forms of collaboration. 
  Solomon Islands like other LDCs will continue to rely heavily on the generous assistance and 
support of development partners to ensure its con tinuing and smooth integration into the multilateral 
trading system, in particular in enhancing its ability to honour and implement WTO commitments and 
obligations. 
 
 On Doha Development Agenda negotiations process, the global financial and ec onomic crisis 
manifests a harsh but realistic reflection of th e vulnerability of LDCs and Small Vulnerable 
Economies, in particular small island economies, to  the exogenous shocks caused by downturns in 
global market conditions.  This is a stark reminder of the need to maintain development dimension 
and concerns of LDCs and SVEs at th e heart of the Doha Development Round. 
  The LDC group has raised a number of imminent needs that require attention.  The services waiver for LDCs, strengthening of SDT provisions and the Technical Assistance and Capacity Building elements of trade facilitation are amongst those that come to mind.   
 
 The conclusion of negotiations on disciplines and rules on fisheries subsidies is a priority for 
Pacific Island countries including Solomon Islands and illustrates the different needs of LDCs and 
SVEs alike.  Solomon Islands emphasizes that completion of this negotiating Round will hinge upon 
satisfying the development dimension and reaching ag reements that accommodate the specific needs 
and concerns of LDCs. 
 WT/MIN(09)/ST/132 
Page 2  
 
   As a Member of the LDC Group and a direct beneficiary of the new Enhanced Integrated 
Framework, Solomon Islands stresses the importance of the EIF as a key part of Aid for Trade for achieving sustainable trade development.  We take  this opportunity to commend the establishment of 
the EIF Executive Secretariat for improved govern ance of this multi-stakeholder partnership and 
ensuring national ownership.  We welcome the co mmitment to ensure additional and predictable 
financial resources in this mechanism, and en courage the strengthening of the EIF through 
expeditious approval of projects.   Generally, in relation to the Global Aid for Trad e, Solomon Islands supports the view that the 
WTO must have a role in the implementation of su ch initiative.  This will ensure that resources 
availed to assist developing countries, in particul ar LDCs, smaller vulnerable economies needs, are 
sensitized and targeted.  Needless to mention, it c ould also offer the platform for better structured 
trade development and governance in the utili zation of resources availed thereunder.   
  Finally, we join our LDC partners and all de veloping countries in calling for a fair, equitable 
and transparent rules-based multilateral trading system with a strengthened governance structure 
provided by the WTO.  Solomon Islands welcomes the July 2009 communication by India and others  on the concrete proposals provided for strengthe ning the WTO, including the establishment of a 
“Steering Group” or body under the General Counc il to comprehensively examine all WTO-related 
instruments allowing members to grant preferential access to LDCs.  
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