On 20 February, 2023, the China Council Promotion of International Trade (CCPIT) and the Solomon Islands Chamber of Commerce (SICCI) signed a Memorandum of Understanding (MOU) to establish the start of trade and business partnership. The signing ceremony was held at the Heritage Park Hotel in Honiara and was attended by representatives from both organizations.

The signing of the MOU marks a significant milestone of the relationship between China and the Solomon Islands. It is expected to enhance bilateral economic cooperation and create new opportunities for businesses in both countries.

The MOU outlines several key areas of cooperation between CCPIT and SICC, including:

• Establishing ways for business led facilitation of trade and investment between China and the Solomon Islands
• Promoting business exchanges and cooperation in various industries, including agriculture, fisheries, tourism, and aquaculture development.
• Providing information and assistance to businesses in both countries to help them explore new opportunities and expand their markets
• Encouraging and supporting visits and exchanges to expo and business forums between CCPIT and SICC members

Speaking at the signing ceremony, Mr. Chen Jianan, Vice Chairman of CCPIT, said, "We are very pleased to sign this MOU with SICCI, which will help promote trade and investment between China and the Solomon Islands. We look forward to working closely with SICC to support our members and facilitate economic cooperation between our two countries."

Mr. Ricky Fuoo, Chairman of SICCI, said, "This MOU is an important step forward in our efforts to strengthen business relationships with China and increase trade and investment between our two countries. We are excited to work with CCPIT and its members to explore new opportunities and build stronger business relationships."

“China is one of the biggest markets globally and it makes business sense to establish this MOU so that it provides mechanism on how business to business can work together for future prosperity of Solomon Islands,” Mr Fuoo adds.

SICCI vision is to grow a vibrant private sector for Solomon islands to contribute to improved livelihoods and employment for Solomon Islanders. By establishing partnership and understanding with other business organisation and developed economic market provide opportunities for its members and business to grow and reached this vision.

Under the terms of the MOU, CCPIT and SICCI will establish a joint working group to oversee the implementation of the agreement and monitor progress. The working group will hold regular meetings and exchange information on trade and investment opportunities, business trends, and other relevant topics.

SICCI has established similar MOU and partnership for private sector, both formally and informally, with other business organisation and program such as Australia Pacific Island Business Council and US SCALE, as well as regional and multilateral organisations- such as International Labour Organisation and Pacific Islands Forum for areas of climate resilience and employers.

About CCPIT

The China Council for the Promotion of International Trade (CCPIT) is a national foreign trade and investment promotion agency in China. It was established in May 1952 and is responsible for promoting foreign trade, investment, and economic cooperation between China and other countries.

About SICCI

The Solomon Islands Chamber of Commerce (SICCI) is a non-profit organization that represents the interests of businesses in the Solomon Islands. It was established in 1958 and is dedicated to promoting and developing commerce and industry in the country.