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United States and Palau Announce Establishment of the Palau Advisory Group on Economic Reform

WASHINGTON – The United States and Republic of Palau Governments have confirmed the nomination and selection of five individuals to fully constitute the Palau Advisory Group on Economic Reform, consistent with the Palau Compact Review Agreement, as amended.

“The United States government has worked successfully with Palau to give consideration to the mix of expertise that would most benefit the work of the bilateral Advisory Group,” said Deputy Assistant Secretary for Insular and International Affairs Keone Nakoa, “Combined, the five members of the newly constituted Advisory Group on Economic Reform, bring years of expertise, experience, and economic knowledge to bear in carrying out their important mission. I look forward to their progress at the initial meeting and eventually seeing their full report and recommendations.”

“The United States has demonstrated the importance to which it attaches the relationship we share under the Compact of Free Association, by the quality and the caliber of its nominees and through its support of the Secretariat,” said Palau Finance Minister and Economic Reform Advisory Group member Kaleb Udui, Jr. “Palau is appreciative of this commitment and dedication, and we look forward to continued partnership with the United States.”

The Advisory Group on Economic Reform will contribute to the long-term economic sustainability and resilience of Palau. Each government designated two members, with a fifth member chosen by the United States from a list of recommendations by Palau. As requested by the Palau Government, Interior’s Office of Insular Affairs is providing limited funding for a Secretariat to provide administrative support to the Advisory Group on Economic Reform.

The members of the Palau Advisory Group on Economic Reform will be announced at a later date. 

The governments have initiated consultations on commencement of proceedings of the Advisory Group on Economic Reform, and both sides plan to begin meetings potentially as early as August. Currently constituted, the advisory group shall terminate at the end of fiscal year 2023, unless otherwise agreed by the two governments.

The Palau Compact Review agreement with the related appendices and amendment may be accessed through the Office of Insular Affairs website under Executive Orders and Public Laws/Compacts of Free Association at: https://www.doi.gov/oia/budget/authorities-public-law.

The Assistant Secretary of Insular and International Affairs and the Office of Insular Affairs (OIA) carry out the Secretary of the Interior’s responsibilities for the U.S. territories of American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands. Additionally, OIA administers and oversees federal assistance under the Compacts of Free Association to the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau. OIA also administers a discretionary Technical Assistance Program for all the insular areas. Find information about OIA and its work on www.doi.gov/oia, Facebook, Twitter, Instagram, and YouTube.

 

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News Detail Page icon United States and Palau Announce Establishment of the Palau Advisory Group on Economic Reform

United States and Palau Announce Establishment of the Palau Advisory Group on Economic Reform

Calendar iconAug 08, 2022

news detail page news by  Ciara SantiagoCiara Santiago

Featured image on news united-states-and-palau-announce-establishment-of-the-palau-advisory-group-on-economic-reform
Fulfilling an Important Aspect of the Compact Relationship

WASHINGTON – The United States and Republic of Palau Governments have confirmed the nomination and selection of five individuals to fully constitute the Palau Advisory Group on Economic Reform, consistent with the Palau Compact Review Agreement, as amended.

“The United States government has worked successfully with Palau to give consideration to the mix of expertise that would most benefit the work of the bilateral Advisory Group,” said Deputy Assistant Secretary for Insular and International Affairs Keone Nakoa, “Combined, the five members of the newly constituted Advisory Group on Economic Reform, bring years of expertise, experience, and economic knowledge to bear in carrying out their important mission. I look forward to their progress at the initial meeting and eventually seeing their full report and recommendations.”

“The United States has demonstrated the importance to which it attaches the relationship we share under the Compact of Free Association, by the quality and the caliber of its nominees and through its support of the Secretariat,” said Palau Finance Minister and Economic Reform Advisory Group member Kaleb Udui, Jr. “Palau is appreciative of this commitment and dedication, and we look forward to continued partnership with the United States.”

The Advisory Group on Economic Reform will contribute to the long-term economic sustainability and resilience of Palau. Each government designated two members, with a fifth member chosen by the United States from a list of recommendations by Palau. As requested by the Palau Government, Interior’s Office of Insular Affairs is providing limited funding for a Secretariat to provide administrative support to the Advisory Group on Economic Reform.

The members of the Palau Advisory Group on Economic Reform will be announced at a later date. 

The governments have initiated consultations on commencement of proceedings of the Advisory Group on Economic Reform, and both sides plan to begin meetings potentially as early as August. Currently constituted, the advisory group shall terminate at the end of fiscal year 2023, unless otherwise agreed by the two governments.

The Palau Compact Review agreement with the related appendices and amendment may be accessed through the Office of Insular Affairs website under Executive Orders and Public Laws/Compacts of Free Association at: https://www.doi.gov/oia/budget/authorities-public-law.

The Assistant Secretary of Insular and International Affairs and the Office of Insular Affairs (OIA) carry out the Secretary of the Interior’s responsibilities for the U.S. territories of American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands. Additionally, OIA administers and oversees federal assistance under the Compacts of Free Association to the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau. OIA also administers a discretionary Technical Assistance Program for all the insular areas. Find information about OIA and its work on www.doi.gov/oia, Facebook, Twitter, Instagram, and YouTube.

 

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