Mainstreaming Trade in Micronesia: Turning Bilateral Dependency into Regional Competitiveness
Lacey, Simon B.C. (2010). "Mainstreaming Trade in Micronesia: Turning Bilateral Dependency into Regional Competitiveness". SSRN Electronic Journal. doi:10.2139/ssrn.1748224. ISSN 1556-5068.
- Has attachment: File:RTV6WD82.pdf
Abstract: “Mainstreaming Trade in Micronesia: Turning Bilateral Dependency into Regional Competitiveness” addresses the economic and trade development challenges facing the Federated States of Micronesia (FSM). It originates from an EU-funded project aimed at providing technical assistance to FSM for revising its trade-related laws. The paper emphasizes the need for FSM policymakers, officials, and stakeholders to rethink current strategies and make difficult economic policy choices to ensure the nation’s survival as an independent entity in the long term. It discusses Micronesia’s draft trade policy, highlighting the necessity of adapting to changing regional trade dynamics and emphasizes creating a strategic development plan backed by the US’s Amended Compact process, which aims for FSM’s self-reliance by 2023.
The paper also outlines strategic goals and necessary policies and underscores a fragmented focus on actionable recommendations. It identifies critical issues such as failure to exploit market access opportunities and the need for a more enabling environment. The document’s implementation chapter is criticized for lacking concrete measurable objectives . Finally, the paper calls for building institutional capacity and revising trade policies, including aspirations for FSM’s accession to the World Trade Organization (WTO). The paper concludes by highlighting the importance of impressing upon policymakers and the public the urgency of transforming FSM into a competitive economy.
Extra details:
DOI: 10.2139/ssrn.1748224 MAG: 2215180581 OpenAlex: W2215180581 CorpusID: 155953911
