September 6^th, Honiara - The recent Australia Solomon Islands Business Forum held in Honiara has highlighted that agriculture sector remains the country’s top sector that is yet to realize its potential and contribution to the national economy.

This finding is supported by reports from SINPF and CBSI.

Agricultural industries accounts for 64 percent followed by Forestry and Fisheries Sector with 22 percent and other industries accounts for 14 percents. The figures are distributed out of 57,000 members of Solomon Islands National Provident Fund [SINPF] current contribution. 

Central Bank of Solomon Islands [CBSI] also supported the data stating that agriculture sector remains unbeaten in terms of commodity contributions to the national economy.

Despite a relatively secure working environment and abundant resources, the economy remains heavily reliant on primary industries - CBSI.

Speaking during the forum, Chairlady of Solomon Islands Chamber of Commerce and Industry [SICCI] Board, Ms Namoi Kaluae, the agri-business sector presents a significant growth opportunities, particularly given that 85% of the population engages in subsistence farming.

She said investment going forward to improve agriculture sector must focus on infrastructure development and at the same time improve trade facilitations and certification.

Ms. Namoi stressed that improved infrastructure investments will not leverage agriculture development but also encourage other sectors such tourism, manufacturing, and mining to grow.

She adds that improved trade arrangements must proceed simultaneously to encourage growth in trade activities.

“The Solomon Islands has rich natural resources and unique products with potential in international markets.

“By leveraging these assets and working with Australian partners, we can access new markets and enhance our export processes,” Ms Namoi said.

Permanent Secretary of the Ministry of Agriculture and Livestock, Dr. Samson Viulu shared similar sentiments saying that Solomon Islands’ cocoa and coconut sectors are very important but need more interventions to improve the sectors.

He said the country’s cocoa and coconut products are unique and the need now is how to improve raw as well as add-value products for export.

Dr. Viulu said his ministry is pursuing long-term sustainability approach to agriculture development in Solomon Islands.

“We would like to see funding or project activities must go beyond project phase.

“The approach of the ministry now is trying to ensure agriculture sector is profit making entity rather than just a food producing entity,” he said.

Dr. Viulu said World Bank is supporting his ministry to roll out agriculture programs and activities with the hope to see agriculture as one of the go-to sector in the country.

In the meantime, information shared during the forum indicates that strategies to improve agriculture sector must go beyond policy and paper works.