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FSM Association of Chambers of Commerce in the Pipeline

Palikir, Pohnpei (FSM Department of Resources & Development): August 17, 2009 - During the Second Symposium on foreign investment laws and regulations applicable in the FSM held in the Kosrae State from the 4 to the 6 of August 2009, the FSM Association of Chambers of Commerce (FSM ACC) held a meeting attended by the presidents of Pohnpei and Yap Chambers of Commerce, and the Chairman of the Kosrae Chamber of Commerce.

The meeting, which was also attended by representatives from the FSM Department of Resources and Development (R&D) and the Pacific Islands Forum Secretariat, was aimed at discussing issues of common interest for the four State Chambers of Commerce.

The President of Pohnpei Chambers of Commerce, Mr. Leon Senda, informed the Meeting that the charter document for the FSM ACC is being circulated among the Presidents/Chairmen of State Chambers of Commerce for signature and will be ratified very soon. Participants also learned that the Association has already been admitted as a member of the Pacific Islands Private Sector Organization (PIPSO), and has attended several regional meetings.

The Meeting considered problems faced by the FSM ACC, including its pending annual subscription fees to PIPSO, the need for technical and financial assistance, and the low level of involvement in decisions affecting the local business community.

Following a broad discussion, participants acknowledged and commended the assistance received from the Department of R&D and recommended that the President of Pohnpei Chambers of Commerce follow-up and speed up the process of formalizing the FSM ACC. The meeting further called on the FSM Department of R&D to consider the request made by the FSM ACC for assistance.

It should be noted that the idea of a National Association of Chambers of Commerce has been burgeoning since 2007, with the view to establish a network of the business community in the FSM, and foster discussion on issues of common interest for the private sector. The FSM ACC comprises the Chambers of Commerce of Chuuk, Kosrae, Pohnpei and Yap States.

For more information, please contact:

Witson Phillip,
Chairman of Kosrae Chamber of Commerce
phone: (691) 370-3164
email: wphillip@mail.fm

Leon Senda,
President of Pohnpei Chamber of Commerce
phone: (691) 320-2452
email: amco@mail.fm

Philip Ranganbay,
President of Yap Chamber of Commerce
phone: (691) 350-8990
email: yapchamber@yahoo.com