Marshall Islands
Marshall Islands Customs Contacts:
Email: rmi.consulate@hawaiiantel.net
Address: Honolulu, HW 1888 Lusitana Street, Suite 301, 96813, Honolulu, Hawaii, United States
Phone: +1-808-545-7767
Fax: +1-808-545-7211
The Marshall Islands consist of 29 atolls and 5 individual islands totaling about 1,225 islands and 870 reef systems scattered over 750,000 square miles of the Central Pacific. Marshall Islands share maritime borders with Kiribati, the Federated States of Micronesia, Nauru, and Wake Island.
Heavy and increasing trade deficits on Marshall Islands result from limited exports and dependency on imports for consumer and capital goods. Over 90% of the value of exports is accounted for by fish, coconut oil, and copra cake (made of dried coconut meat). The US, Japan, and Australia are the main export partners, while the US is the primary import source, followed by Japan and the Philippines. The major imports are foodstuffs, machinery and equipment, fuels, beverages, and tobacco.
The Marshall Islands is open to foreign trade. The country’s trade policy is conducted by the COFA agreement under which the country has duty-free access to the U.S. market. Custom duties are not very high, and the country has very few trade barriers. However, the Marshall Islands only has very few natural resources and consequently a very limited base for exports. The country also lacks adequate infrastructures and airline transportation.
The country imports in high volumes, while its exports are very weak, resulting in an enormous trade deficit, which should continue to increase in the coming years. As it stands, the country might be forced to impose quotas for fishing certain species in 2015 in order to preserve its stock, an action that would further decrease its exports. On the positive side, the production of copra, one of its major exports, has been reaching very satisfactory levels since 2013. Fishing licences are the country's main source of revenue. In 2015, as in the past, the main trade partner of the Marshall Islands remains the United States.
Certain commodities are considered as “Non-Document” and need to be accompanied by an invoice and, in some cases, additional customs documentation. Other commodities are considered simply as a “Document” and only require a DHL Waybill to be completed.
Sources:
http://www.nationsencyclopedia.com/Asia-and-Oceania/Marshall-Islands-FOREIGN-TRADE.html
https://marshall-islands.visahq.com/customs/#!import-regulations
http://www.dhl.com/en/mh/country_profile/import_guidelines_express.html
http://www.nationsonline.org/oneworld/marshall_islands.htm
http://www.suddefrance-developpement.com/en/country-profiles/marshall-islands/exchange-3.html
