Trade Council of the Marianas Seeks to Restart Free Trade Zone Authority Board

02/11/25 - The Trade Council of the Marianas, a non-profit organization, submitted the names of 10 private and 6 public sector individuals to CNMI Governor Arnold Palacios to restart the Board of Directors for the Commonwealth Free Trade Zone Authority on Tuesday morning.

The Free Trade Zone Act of 2000 allows the Governor to appoint board members from the private sector who are recommended by a chamber of commerce and ultimately confirmed by the Senate. “As a chamber of commerce focused on the businesses that will be pursuing Free Trade Zone licenses, we have committed to doing our part in standing up and empowering the Free Trade Zone Authority by taking on our role under the law and the Trade Council charter,” said Vin Armani, President of the Trade Council of the Marianas.

According to TCM, CNMI businesses within the Commonwealth Free Trade Zone can apply for a Free Trade Zone License, making them eligible for rebates and tax exemptions. The intent of the act is to attract tech businesses to the CNMI.

“For the last two decades, no CNMI chamber of commerce has proposed a list of board members to the governor and the FTZ Authority has remained inactive. Today’s submission by the Trade Council of the Marianas was a continuation of a broader initiative launched by the organization,” a press release from TCM said.

Armani and Joshua Cook, TCM vice president, will also meet with legislators on Tuesday to give an overview of the untapped potential of the Free Trade Zone Act.

The non-profit organization held a presentation about their efforts at the American Memorial Park on Saipan a month ago. The full talk can be viewed at https://youtu.be/zorf4dqbk94