Palau Economic Advisory Group
The Palau Economic Advisory Group will soon convene for its initial meeting in Palau during the week of August 22-26, 2022. The mandate for the EAG was included in the Compact Section 432 Review Agreement (CRA) that was signed on 3 September 2010. The relevant US Congressional action to authorize and appropriate funding was delayed until FY2018 when the CRA was fully funded. Palau benefited from stopgap funding during the waiting period, but the convening of the Economic Advisory Group was delayed.
The US and Palau governments have agreed to implement the EAG as fully described in the CRA and specifically in sections 2(d) - 2(g). The five members have been named in time for their first meeting. Excerpts from the CRA are provided below:
Members look forward to their initial visit to Palau to listen and learn. Given the impressive breadth and depth of the members' combined professional accomplishments, their initial report, expected following a second meeting in the Fall of 2022, is highly anticipated by the two governments. The schedule for the initial year will differ from the CRA mandate, with the anticipated annual bi-lateral economic consultation expected in the late Fall of 2022. The initial year's two meetings will be delayed, but it is anticipated that the 2023 contributions will enable their second report to be timely delivered in advance of a June 2023 bi-lateral annual economic consultation.
As requested by the Palau Government, the U.S. Government through the Department of the Interior’s Office of Insular Affairs, has provided limited funding for a Secretariat to provide administrative support to the Palau Economic Advisory Group. The Graduate School USA is providing that service through the Economic Monitoring and Analysis Program (EconMAP).