Over 50 key actors of Vanuatu’s Economy discuss National Trade Development

The National Trade Development Committee (NTDC) meeting on Wednesday 17 November 2021 in Luganville was an impressive success with more than 50 representatives of the private sector, the public sector and the development sector.

Mr. Jimmy Rantes, the Ministry of Tourism, Trade, Commerce and Ni-Vanuatu Business (MTTCNVB) Acting Director General (DG), said “The Ministry of Tourism, Trade, Commerce and Ni-Vanuatu Business is delighted to see that the National Trade Development is a priority in Vanuatu.

The level of attendance to this National Trade Development Committee in Luganville shows the commitment of the key stakeholders across all the sectors. We look forward to keep working together next year.”

The NTDC gathers representatives from the MTTCNVB, the Ministry of Finance and Economic Management, the Minister of Foreign Affairs, the Ministry of Agriculture, Livestock, Fisheries, Forestry and Biosecurity, Vanuatu Foreign Investment Promotion Agency, Vanuatu National Provident Fund but also representatives from the private sectors like Vanuatu Chamber of Commerce and Industry.

The committee meets three times a year to discuss Vanuatu Trade strategies and provide updates on the ongoing projects and initiatives. The NTDC is a key decision-making committee.

The representatives discussed the implementation of past decisions of the NTDC; provided an update on the Aid for Trade initiatives; presented an update on the National Economy; provided an update on the Trade Facilitation, Negotiation and Agreement; provided an update on the Investment Sector; and presented an update on Vanuatu’s Productive Sector.

Some of the highlights of the meeting included discussions on the E-Commerce Strategy launched few weeks ago, the Vanuatu Electronic Single Window Project (VeSWP), the employment in Vanuatu and the Trade Policy Framework (TPFU) 2019-2025.

The Department of Finance & Treasury provided an update on the National Economy including medium term prospects and impacts of economic policy on the productive sector.

Following the New Caledonia Market Study, the Trade Facilitation Steering Committee presented its recommendation and confirmed the implementation deadline.

Other topics were also covered like National Investment Policy, National Export Strategy and SANMA rural development.

Recommendations were adopted following the discussion led by the various agencies and they will report on the implementation at the next meeting next year.

Vanuatu Aid-for-Trade Management Unit (VAMU), under the MTTCNVB, is in charge of organising the NTDC. It acts as Secretariat of the NTDC and coordinates the efforts to introduce robust trade governance mechanisms.

The NTDC provides a platform for the productive sector to take a stock of the situation and present issues at stake as well as strategies implemented.

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