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Pacific Agreement on Closer Economic Relations (PACER) Plus negotiations commenced in 2009 with the aim of strengthening regional integration, securing guaranteed preferential market access for FICs to the Australian and New Zealand economies and realising a truly developmental approach to trade relations. (...) a core component of the agreement is Development and Economic Cooperation, whereby it is envisaged that assistance will be provided to Solomon Islands so as to enable the effective implementation of the agreement, strengthen productive capacities and promote sustainable growth and development through Aid for Trade.

As a key industry in the Solomon Islands economy, the issue of fisheries subsidies is of considerable importance in Solomon Islands' engagement in the multilateral trading regime. As such, Solomon Islands considers excessive subsidisation by distant water fishing nations of their fisheries sectors as a key contributor to overfishing, with the resulting environmental and economic damage, as well as acting as a distortion to global fishing trade. Solomon Islands continues to argue that current WTO disciplines need to be strengthened and that certain forms of subsidies which contribute to overfishing and overcapacity should be curtailed.

There are a number of intractable constraints faced by the Solomon Islands economy which make participation in the WTO rules-based multilateral trading regime difficult, including geographical isolation, supply side and productive capacity constraints and vulnerability to natural disaster and climate change, which can further marginalise the economy from the global trading system. Solomon Islands seeks to underscore the importance of support from other Members to recognise these challenges and assist in their mitigation to guarantee the effective functioning of the WTO system for all members.

Solomon Islands maintains import prohibitions to protect public health, safety and morals, and the environment. (...)

New legislation on biosecurity was adopted in 2013. Under the Biosecurity Act 2013, the Government may regulate imports of plants, animals and products thereof to prevent the introduction of diseases and pests. The Act also establishes the procedure for the development of SPS measures to be applied on imports. A licence issued by Biosecurity Solomon Islands is generally required to import plants, animals, and their products. The capacity to undertake risk assessments in the area of SPS measures improved during the review period.

(...) Forest area covers about 80% of the land area, although it has been on a declining trend. The forest sector suffers from poor enforcement of the legislation; there are indications that under-invoicing and illegal logging is prevalent. Fisheries accounted for 11.5% of total exports in 2015. Solomon Islands is a member of the Parties to the Nauru Agreement, under which a Vessel Day Scheme (VDS) has been used collectively by members to manage their tuna stock since 2010.

(...) Due to its geographical location, the country is susceptible to both hydro-meteorological (tropical cyclones, floods and droughts) and geophysical disasters (earthquakes, and resulting tsunamis and landslides). Solomon Islands was hit by several tropical cyclones during the review period. In February 2013, a magnitude 8.0 earthquake and a subsequent tsunami affected the Santa Cruz Islands, causing losses of life and damages to infrastructure in several communities. In April 2014, heavy rains brought by a tropical cyclone caused destructive flooding in some major cities, resulting in damages and loss estimated at US$107.8 million (equivalent to 9.2% of GDP).

(...) Major projects include the construction of hydropower generation facilities (Section 4.2.2), roads and wharfs, and legislative reforms (...)

At the 2013 Ministerial Conference in Bali, Solomon Islands urged for the "Bali Package" to be delivered. At the 2015 Ministerial Conference in Nairobi, Solomon Islands called on all Members to deliver on the Doha Round as a matter of priority and to first and foremost address outstanding development issues. In addition, putting in place disciplines on fisheries subsides was of particular interest to Solomon Islands. [8]

[8] WTO document WT/MIN(15)/ST/94, 5 January 2016.

The Government recognizes that FDI can make an important contribution to economic development, most notably by increasing productivity and contributing to local employment. It encourages foreign investors "whose development proposals are strategic and align to its national aims and objectives with respect to the environment and social structure" . An investment policy document is under preparation.