PALAU SETS UP FREE TRADE ZONE

WELLINGTON, New Zealand (RNZI, Dec. 8) - Palau has created a free trade zone aimed at light manufacturing.

The move is aimed at drawing interest from tuna canneries, which could benefit from Palau’s trading privileges with the United States.

Palau is allowed to provide up to 10 percent of American canned tuna imports tariff-free.

The free trade zone is in an undeveloped area of one of the northern islands of Palau.

A U.S.-funded road on the island is due to be completed by 2005 but improvements to the port are still needed.

The island has only 220 inhabitants

December 8, 2003

Radio New Zealand International: www.rnzi.com

 

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