Business Profile
Economy
Most Samoans are involved in subsistence agriculture; some cash crops are also grown for export, the most important of which are coconut, cocoa and bananas. Timber is exported in small quantities. Fishing is another important source of income and employment. There is some small-scale manufacturing industry, mostly concerned with food-processing, textiles, woodworking and light engineering, and some small factories produce consumer goods for the domestic market. The Government has concentrated on tourism and export-oriented manufacturing in its efforts to develop the economy, although aspects of the climate – principally the country’s annual cyclones – have made this difficult. Nonetheless, tourism has now expanded to the point where it contributes 17 per cent of GDP, based on the arrival of 90,000 visitors to the island group annually. The Government has also, with some success, sought to promote an offshore financial services industry. Further income comes from the remittances of Samoans working overseas – mostly in New Zealand and, to a lesser extent, in Australia; both these two countries also provide Samoa with a sizeable aid package. Tangible benefits from a 1996 trade agreement with the Chinese government have become apparent. Meanwhile, a parallel programme of economic reforms won the approval and ensuing financial support of the World Bank, the Asian Development Bank and others. The economy is now growing at 5 per cent annually. Samoa is a member of both the South Pacific Forum and the South Pacific Commission. New Zealand, Australia, Singapore, Fiji, China (PR), Japan and the USA are the major trading partners.
Business
Shirt and smart trousers will suffice for business visits. Ties need only be worn for formal occasions. Best time to visit is from May to October. Office hours: Mon-Fri 0800-1200 and 1300-1630
Commercial Information
The following organisations can offer advice: Samoa Chamber of Commerce, Ground Floor, Lotemau Centre, Vaea Street, PO Box 2014, Apia (tel: 21237; fax: 21578; e-mail: info@samoachamber.com; website: www.samoachamber.com); or Department of Trade, Commerce and Industry, PO Box 862, Apia (tel: 20471/2; fax: 21646; e-mail: tipu@tci.gov.ws; website: www.tradeinvestsamoa.ws); or Samoa Visitors Bureau (see Contact Addresses section).
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