New Minister for Trade and Commerce, Hon. Robson Iavro, has pledged to ensure transparency and accountability in the management of public funds as he officially begins his role at the ministry today.

When taking over the reins from outgoing Minister of Trade and Commerce, Samson Samsen, Minister Iavro said public money belongs to the people of Vanuatu and must be managed responsibly.

“It is important that we remain transparent and accountable with public money because the money belongs to the people of Vanuatu,” Minister Iavro said.

The new minister said his priority is to work with ministry officials to address existing challenges while strengthening confidence in the work of the ministry.

He said one of the major challenges the ministry will focus on is addressing Vanuatu’s trade deficit, where the country imports more goods than it exports.

“We have heard recently the Deputy Prime Minister and Minister of Finance talk about our economy, and we have seen positive growth in the last six months. However, we still have the issue of the deficit, and this is something we need to address,” he said.

Minister Iavro said the Ministry of Trade and Commerce has a critical role in creating an environment where businesses can grow, supporting farmers, and strengthening industries that can contribute to the country’s economy.

He said the government will continue building on existing initiatives by strengthening laws, reviewing regulations, and improving the environment for businesses to operate and prosper.

Minister Iavro also highlighted the importance of supporting local businesses and producers to increase local production and exports, which he said would help reduce the trade deficit and strengthen Vanuatu’s economy.

The formal handover ceremony saw outgoing Minister Samson Samsen officially transfer responsibilities to Minister Iavro, welcoming him into the role and expressing confidence in his leadership.