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Rethink standards, Ministers urged

Forum Economic Ministers at the PIFS in Nasese this morning. Photo: PIFS Media

By ILIESA TORA

Suva, Fiji – May 8, 2019: 3pm (Nuku’alofa Times): Forum economic ministers meeting in Suva this week have been urged to “rethink standard approaches to sustainable economic development both within our economies and as a regional collective”.

Speaking at the opening ceremony of the 2019 Forum Economic Ministers Meeting, a the Pacific Islands Forum Secretariat in Nasese this morning, Chair, David Adeang, said the ministers have a lot to discuss over two days.

“Over the next two days we will have the opportunity to strengthen our commitment to our collective priorities and drive the transformative changes required in our region to build the resilience of our islands and our people,” Mr Adeang, the Finance Minister for Nauru, said.

FEMM 2019 Chair at the opening ceremony. Photo: LISA WILLIAM-LAHARI

FEMM 2019 Chair at the opening ceremony. Photo: LISA WILLIAM-LAHARI

“I am confident that this august body will agree that the certainty of evidence on the current and future impacts of climate change for our region challenges each of us, as Economic Ministers, to rethink standard approaches to sustainable economic development both within our economies and as a regional collective.

“ Indeed, this challenge was also set forth by the current Forum Chair and my President, His Excellency Baron Waqa, at the Forum Leaders meeting last year under the theme ‘A Stronger Pacific: Our Islands, Our People, Our Will’. Most especially, the theme spoke to our efforts, as one regional collective, to determine our pathways to resilient and sustainable development; to take action to address our own vulnerabilities; and to call on all our partners to support us in achieving our nationally and regionally determined goals and aspirations.”

Tonga’s Finance Minister Dr Pohiva Tu’ionetoa is also here, with the Tongan delegation.

Mr Adeang said Ministers will have the opportunity to dialogue with civil society and private sector “and similarly, dialogue with our development partners at the Development Donor Roundtable. I encourage us all to engage constructively in these dialogues as they are demonstration of our commitment, as Economic Ministers, to regional inclusivity”.

He said the Ministers were gathering at a time of much global economic uncertainty.

Tonga's Finance Minister Hon Dr Pohiva Tu'ionetoa at the opening ceremony this morning. Photo: LISA WILLIAM-LAHARI

Tonga’s Finance Minister Hon Dr Pohiva Tu’ionetoa at the opening ceremony this morning. Photo: LISA WILLIAM-LAHARI

“Global economic growth for 2019 is expected to be lower than anticipated. This reflects a deceleration of the global economy at the end of 2018; ongoing US-China trade tensions; and the continued uncertainty surrounding BREXIT,” he said.

“Any impacts emerging from this global outlook for the Pacific will likely be felt through our major trading partners, though the outlook remains rather positive for them with economic growth expected at 2.4 percent.”

Mr Adeang said the most significant impacts for all our economies will continue to be those associated with climate change and disasters.

He said our ability to build explicit buffers to shocks and stressors to withstand the impacts of climate change and disasters is our constant challenge, exacerbated even more for those economies which face persistent fiscal and current account deficits.

Inevitably, investment in public infrastructure will be a determinant of growth for all our economies in the immediate term.

“However, given that climate change and disasters remain the greatest threat to our economies, it is crucial that such infrastructure investment prioritise resilience, including at the community level. To that end, I look forward to the robust panel discussion on resilient infrastructure development by our colleague Ministers at the FEMM Public Seminar this evening,” he added.

Forum Secretary General Madame Meg Taylor directs things before the opening this morning. Photo: LISA WILLIAM-LAHARI

Forum Secretary General Madame Meg Taylor directs things before the opening this morning. Photo: LISA WILLIAM-LAHARI

He urged the Ministers to focus on the four agenda items before them, with the aim of moving the region ‘Towards a Resilient and Sustainable Pacific’.

He said deepening Pacific regionalism is a long-term initiative that requires political settlements to be reached amongst sovereign states and this takes time.

“The persistence of differences of opinion within any collective is a norm typical to multilateralism,” he told the Ministers.

“However, we do not give up but rather persist with open and respectful dialogue and critical analysis of the issues, always with our eye firmly fixed on the goal of a resilient, sustainable and viable Blue Pacific.”

One of the top agenda item is the Pacific Resilience Facility, the region’s own initiative aimed at helping provide funding that would help Pacific islands better prepare for natural hazards.

 

 






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