Pacific Finance Ministers Urged to Strengthen Regional Cooperation Amid Global Uncertainty

Pacific Finance and Economic Ministers gathered yesterday at the Pacific Islands Forum Secretariat in Suva for the Forum Economic Ministers Meeting (FEMM), with leaders urged to strengthen regional economic cooperation in response to mounting global and regional challenges.

The meeting, held under the theme “Stronger Together: Advancing Economic Resilience and Sustainable Futures in the Pacific,” is chaired by Tonga’s Prime Minister and Minister of Finance, Hon. Dr ‘Aisake Eke, and will continue today.

In his opening address, Pacific Islands Forum Secretary General Baron Waqa acknowledged the shifting global landscape, citing ongoing geopolitical tensions, economic disruptions, and the lingering effects of COVID-19 as key threats to the region’s development.

“In these unsettling times, we are like fish being circled by sharks. We are therefore better working together to survive the impending threats,” Waqa said.

He also announced the official launch of the Pacific Roadmap for Economic Development (PRED), the first of seven thematic implementation plans under the 2050 Strategy for the Blue Pacific Continent. The PRED focuses on resource and economic development and will guide coordinated regional efforts to deliver on the vision of Forum Leaders.

While acknowledging continued support through remittances and development assistance, Waqa noted that economic growth in many Forum member countries remains relatively low. He said the Forum Secretariat, alongside its regional agencies, remains committed to advancing cooperation, integration, and trade across the Pacific.

Ministers from the Pacific Islands Forum Women Leaders Meeting also participated in the FEMM opening session and took part in a Ministerial Talanoa on “Future-Proofing Pacific Economies.”

According to the Pacific Islands Forum, ministers are also expected to consider the Secretariat’s Economic Update and Outlook, which outlines policy options to strengthen fiscal resilience and guide future regional priorities.

The meeting continues today.