Forum Secretary General, Baron Waqa Thursday highlighted the importance of economic resilience, sustainable growth, and regional cooperation across the Pacific.
“It is with great pleasure that I welcome you all to the 2024 Forum Economic Ministers Meeting, my first FEMM as Secretary General of the Pacific Islands Forum.
“As we gather here today, I am reminded of the importance of our collective goal to promote economic resilience, sustainable, and inclusive growth across our Blue Pacific,” he said at the opening of FEMM today.
SG Waqa reiterated the vision of Pacific Leaders as stated in the 2050 Strategy for the Blue Pacific Continent.
“Our vision is for a resilient Pacific Region of peace, harmony, security, social inclusion, and prosperity, that ensures all Pacific Peoples can lead free, healthy, and productive lives.”
He highlighted the values of regional cooperation, inclusivity, equity, and equality.
“The Pacific Islands Forum, through its commitment to regional cooperation, has always been a beacon of hope and a pillar of strength for our member states,” Waqa said. “Our economies, though diverse, share common challenges and aspirations.”
SG Waqa acknowledged the lingering impacts of COVID-19 and the evolving global economic and geopolitical landscape.
“While the impacts of COVID-19 are beginning to fade, the global economic and geopolitical landscape continue to evolve rapidly and pose new challenges for Pacific policymakers,” he noted.
He emphasised the need for adaptation and innovation to overcome these challenges.
“It is imperative that we adapt and innovate and implement the collective actions and priorities outlined in our 2050 Strategy and the Pacific Roadmap for Economic Development to ensure the future prosperity of our people,” Waqa stated.
Key issues for discussion at the meeting include the Pacific Roadmap for Economic Development, the Pacific Resilience Facility, the Implementation of Correspondent Banking Relationship roadmap, and the socio-economic impacts of human mobility in the region.
“As we face the ongoing impacts of climate change, it is essential that our economic strategies incorporate resilience-building measures,” Waqa stressed.
“Our economies are intrinsically linked to our environment, and sustainable practices must be at the forefront of our policy decisions.”
SG Waqa called for enhanced regional trade and investment frameworks and advocated for freer movement of people within the islands, including Australia and New Zealand.
“By strengthening our intra-regional trade, we can create more opportunities for our businesses and improve the livelihoods of our people,” he said.
He shared his personal experiences of regionalism from his time as President of Nauru, highlighting the importance of air connectivity for smaller island states.
“Through regionalism, Our Airline has been servicing and continues to service Nauru, Kiribati and Marshall Islands. Air connectivity to these Smaller Island States is a lifeline for businesses and communities in the northern Pacific.
“The Pacific Islands Forum has always been a source of reassurance and support for Members in times of crises,” SG Waqa explained.
“In these challenging times, solidarity and cooperation among our Member States are more important than ever.”
“The strength of the Forum lies in our unity, and together, we can navigate the complexities of the global economy,” he said.
SG Waqa urged the ministers to use the meeting as an opportunity to reaffirm their commitment to collaboration and chart a course towards a prosperous and sustainable future for the Blue Pacific Continent.
“I am confident that the experience, expertise, and dedication of the Economic Ministers present here today will lead to fruitful discussions and meaningful outcomes,” SG Waqa said.
