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US, FSM conclude first round of compact negotiation
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Posted on Nov 09 1999
HONOLULU, Hawai’i—United States and Federated States of Micronesia negotiators ended the first round of negotiations after a three-day talk to consider renewing several provisions of the 15-year Compact of the Free Association set to expire in 2001.
The accord, forged in 1986, has provided ongoing Washington funding for FSM development worth over one billion dollars.
However, financial assistance will cease if no agreement is not reached before the expiration.
At the conclusion of the first round of talks, FSM Senator Peter Christian and U.S. State Department special negotiator Allen Stayman called the session “productive” while acknowledging that “substantial work lies ahead.”
In a joint communiqué, the negotiators said they had adopted a joint “Statement of Principles” that includes a U.S. commitment to continue to assist the FSM attain greater economic self-sufficiency and promote development of the private sector.
The two parties also indicated that they are committed to continued security and defense relations and agreed that the FSM must provide more effective accountability of U.S. funding provided under the compact.
The next round of negotiations are yet to be scheduled. (Hulsen)
