The Solomon Islands is located in Melanesia, a group of islands in the South Pacific Ocean, east of Papua New Guinea. It is classified as a Least Developed Country (LDC) & a Small Island Developing State (SIDS). Main exports are wood, palm oil, and fish. China, Australia, the Philippines and Thailand are major export destinations. Main imports include fuel, machinery, equipment and vehicles and major import partners are Australia, Singapore, China and New Zealand. It is a member of the Melanesian Spearhead Group (MSG), the Pacific Island Countries Trade Agreement (PICTA), the South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) and the World Trade Organisation (WTO).