The National Trade Development Council has endorsed the Solomon Islands National Trade Policy Framework in their first meeting this year.
The Trade Policy Framework lays out the main principles that will guide trade policy in Solomon Islands over the coming years.
The Framework also has guidelines to enhance the role of trade in the economy as a means to reduce poverty and raise the level of human development.
It also emphasises the need to build the productive capacity of the private sector in order to enable them to trade.
Meanwhile, the Minister for Foreign Affairs and External Trade Milner Tozaka says trade plays a critical role in the economy.
Speaking at the opening of the National Trade Development Council. Minister Tozaka also said the trade policy needs to be managed competently.
He said he is confident the Trade Policy Framework will guide the country to reap the benefits and overcome the challenges of the international trading system.