I would like to welcome the Delegation of Solomon Islands, led by H.E Moses Kouni Mose, Ambassador of Solomon Islands to the European Union, and thank the Discussant, Ambassador H. E. Nella Pepe Tavita-Levy (Samoa) for her introductory remarks.

The EU welcomes this opportunity to review the developments in Solomon Islands’ trade policies and practices since the last TPR in 2016. Let me start by highlighting that Solomon Islands’ economic, financial and customs reforms, alongside sound macroeconomic management and a more efficient trade regime during the period under review, have contributed to improvements in income per capita and to substantial economic and social progress.

Solomon Islands has a unique environment, with rich and varied natural resources. Its economy is mainly dependent on services, agriculture, forestry and fisheries. However, as described in the review reports, its geographic location and narrow export base makes Solomon Islands, very vulnerable to climate change and external shocks. The EU notes the strategic importance for Solomon Islands to ensure long-term inclusive economic growth and sustainable development, as set out in its National Development Strategy. The EU encourages continued investment in infrastructure and industrial capacity, along with economic diversification and further efforts to address structural challenges. The EU also supports Solomon Islands’ efforts to diversify its energy supply away from fossil fuels.

We appreciate Solomon Islands’ commitment to the multilateral trading system and engagement in the WTO, including by being a party to the Investment Facilitation for Development Agreement. The commitment to promote a more transparent and investment-friendly environment is welcomed. The EU encourages Solomon Islands also to engage in the discussions on e-commerce and to take part in the Informal Working Group on Trade and Gender. The EU also calls upon Solomon Islands to ratify the phase 1 Agreement on Fisheries Subsidies as the fishery resources are so crucial for the country. We also invite Solomon Islands to consider joining the Services Domestic Regulation Joint Statement Initiative and undertake the domestic regulation disciplines in the so-called reference paper, while bearing in mind the relevant LDC flexibilities. Applying these good regulatory practices has clear benefits for services economies and trade.

Regarding our bilateral relationship, there have been some significant developments since the last trade policy review. Solomon Islands ratified the EU – Pacific States Interim Economic Partnership Agreement (EPA) and is implementing it since 2020. The Interim EPA constitutes a solid foundation for our trade relation. Solomon Islands continues to benefit from duty-free quota-free market access to the EU market including a unique facilitative arrangement on fisheries, thus, contributing to growth, creation of jobs and poverty reduction in Solomon Islands.

The Agreement ensures predictability and stability in our trade relations. This is crucial for Solomon Islands economy, as it provides a foundation to attract investment, grow its industries, and integrate more effectively into global value chains. For example, the fisheries sector, one of the cornerstones of Solomon Islands economy, is benefitting from streamlined access to the EU, promoting sustainable practices while increasing its market reach.

The EU remains one of the main destinations for Solomon Islands’ exports. We also appreciate cooperation with Solomon Islands under the EU Global Gateway initiative.

In our written questions, the EU has raised a number of issues regarding implementation of the TRIPS Agreement, the actions taken under the country’s Intellectual Property Strategy, the development of new maritime governance and regulation, a new tourism support fund, and outstanding notifications under different WTO agreements.

The EU is committed to remain a steady and key partner of Solomon Islands in its integration into the global market. The EU fully supports Solomon Islands’ efforts to maximise EPA benefits for private sector and business in transitioning from LDC status and achieving its development goals and fostering a fair and transparent trading system.

On behalf of the EU, I look forward to a constructive dialogue with Solomon Islands during its 4^th Trade Policy Review. Thank you.