Solomon Islands Minister for Infrastructure Development (MID), Hon. Manasseh Maelanga, held a dialogue last week at the margins of the Honiara Ocean Summit with Tuvalu’s Minister for Natural Resources Development, Hon. Sa’aga Talu Teafa.
The two leaders discussed potential collaboration and knowledge sharing regarding the implementation of the International Shipping Registry (ISR) framework that has proven beneficial for Tuvalu.
During the meeting, Hon. Maelanga expressed the Solomon Islands’ government National Unity and Transformation (GNUT) policy to enhance the maritime industry and foster regional cooperation.
He briefed Minister Teafa on the initiative to venture into the shipping registry and the formation of the task force two years ago, consisting of the Prime Minister’s Office Productive Sector policy team, Solomon Islands Maritime Authority (SIMA), MID, and Ministry of Finance.
“We believe that engaging in this shipping registry could provide substantial economic benefits for our nation,” Maelanga stated.
Tuvalu Minister Teafa, in response, said they have undergone recent changes to the MOU governing the shipping registry in their country.
“It has been a good business, and we have received revenue from shipping registry and are willing to assist the Solomon Islands in exploring this opportunity,” he said, adding that he would relay the discussion to the relevant minister, Simon Kofe, minister for transport, energy, communication, and innovation, upon his return to Funafuti.
“We welcome the Solomon Islands for more in-depth consultations on this matter,” he remarked.
Minister Maelanga also presented gifts as a token of appreciation to Hon. Teafa, who is accompanied by his Director of Fisheries, Samasoni Finikaso.
Pacific International Trust Company (PITCO) Limited has been contracted early this month to provide consultation on the International Shipping Registry (ISR) system.
By joining the shipping registry, the Solomon Islands will gain enhanced access to global shipping markets, streamline the process for local shipping companies to establish a presence in international waters, and attract foreign investment.
As MID and SIMA embark on this new journey with the International Shipping Registry, the government assures stakeholders and citizens of its unwavering commitment to developing a vibrant, safe, and environmentally responsible shipping industry.
- MID Press Unit
