DPM PRASAD PARTICIPATES IN ADB GOVERNORS SEMINAR ON CROSS-BORDER COLLABORATION FOR FUTURE RESILIENCE

During the Asian Development Bank Annual Meetings in Milan, Deputy Prime Minister and Minister for Finance Professor Biman Prasad spoke on a high-level panel at the ADB Governors Seminar titled “Cross-Border Collaboration for Future Resilience.” Professor Prasad opened by warning that ongoing tariff wars and escalating geopolitical tensions pose significant financial risks to Pacific small-island economies should the global economy slow.

He urged that Fiji—and its regional partners—adopt a tailored approach to international relations and trade policy, one that helps vulnerable small-island states develop robust adaptation strategies and build resilience against external shocks.

To that end, Professor Prasad proposed deeper Pacific integration, including visa-free travel between member countries and harmonization of regulatory frameworks, as a means to facilitate trade, accelerate regional infrastructure projects, and mount a collective response to shared challenges such as climate change and supply-chain disruptions.

The seminar’s distinguished panel also featured Finland’s Under-Secretary of State Pasi Hellman, India’s Finance Minister Nirmala Sitharaman, ADB President Masato Kanda, and Italy’s Treasury Director Francesca Utili, each bringing their own regional perspectives on how cross-border cooperation can enhance economic resilience.