Tonga’s Chief Executive Officer for the Ministry of Finance, Kilisitina Tuaimei’api, opened the Special Forum Economic Officials Meeting (FEOM) Tuesday, with a call for unity in addressing the unprecedented economic and social challenges faced by the Blue Pacific.
Chairing the meeting, Tuaimei’api acknowledged the complexities of a turbulent global environment, from trade disruptions to escalating conflicts, which threaten the fragile economic progress made in the Pacific.
Despite the modest projected growth of 4 percent for 2025, largely driven by the slow recovery of tourism, the region remains highly vulnerable.
“Natural disasters—like the 2022 Hunga-Tonga-Hunga Ha’apai eruption and last year’s earthquake in Vanuatu—continue to batter our vulnerable economies, piling debt onto already strained budgets,” Tuaimei’api said.
She highlighted the growing cost of living, supply chain issues, and the brain drain as significant challenges.
“We gather at a time of many challenges as well as opportunities. There are opportunities at national levels and there are opportunities that regional collaboration can offer. Our region faces a volatile global landscape that test the foundations of our Member States,” she said.
However, she emphasised that regionalism would be the Pacific’s lifeline.
“No single Pacific nation can weather these storms alone,” she said. “Our strength lies in our unity—a collective resolve to turn challenges into opportunities through shared solutions,” FEOM chair said.
The focus of the meeting was on three critical regional initiatives: the Pacific Roadmap for Economic Development (PRED), the Pacific Resilience Facility (PRF) Treaty, and the Climate Finance Access and Mobilisation Strategy (CFAMS).
These initiatives, Tuaimei’api stressed, are not just abstract policies but essential tools to address the region’s mounting debt and climate risks.
Tuaimei’api expressed her gratitude to the participants for their work on these initiatives and emphasised the urgency behind them.
“Our Ministers saw the value and the urgency to equip ourselves with these tools so we can shape our own future rather than having it shaped for us by others,” she said.
She urged the officials to endorse the initiatives with clarity and conviction.
“Implementation will demand more than intent—it will require us to pool our ingenuity, harness new technologies, and forge lasting partnerships,” she said, highlighting the need for action.
Tuaimei’api also reminded the officials of the Pacific’s resilience.
“We are facing considerable headwinds, but our Pacific spirit has never bowed to adversity. From the ashes of disasters to the pressures of brain drain and rising costs, we have endured by standing together. This is testament to our true resilience. Let us seize this moment to be unified in strengthening the competitiveness of our Pacific economies and our people—not just for today, but for the generations to come,” she said.
Deputy Secretary General of the Pacific Islands Forum Secretariat (PIFS), Desna Solofa, also highlighted the challenges and opportunities the Pacific region faces.
In her remarks, Solofa expressed her honour to join the meeting, which serves as a vital step toward the Special Forum Economic Ministers Meeting (FEMM) set for the following day.
“On behalf of the Secretary General, Baron Waqa, I extend my gratitude to the Government and people of the Kingdom of Tonga for hosting us, and to you, Excellencies and Senior Officials, for your commitment towards ensuring your voices are heard in shaping a resilient economic future for our Blue Pacific Continent,” she said.
Solofa noted that the region faces both significant challenges and opportunities.
“Our region faces a volatile global landscape that tests the foundations of our Member States,” she said.
She also emphasised the importance of regional collaboration in tackling these challenges. “In this context, the Pacific Islands Forum Secretariat stands ready to support you in delivering on our mandate.”
“Today, we bring forward three cornerstone initiatives that you have guided us to work on—each designed to address these pressing challenges and unlock our region’s potential,” said Solofa.
Solofa explained that the PRED provides a strategic vision for economic resilience and integration.
“It tackles economic vulnerabilities by promoting diversification, strengthening financial systems, and enhancing regional trade—key to countering global market fluctuations and fostering shared prosperity,” she said.
She also highlighted the Pacific Strengthening Correspondent Banking Relationship (CBR), which will take effect next month with support from the World Bank to ensure financial connectivity amid external pressures.
The CFAMS, she noted, is crucial for accessing resources to combat climate change.
“This initiative will be a catalyst for mobilising public and private capital, turning the tide against the existential threat of climate change,” Solofa explained.
Additionally, the PRF, which will soon be headquartered in Tonga, represents a Pacific-led approach to resilience. “With over US$150 million in pledges, including reaffirmed support from the United States recently, the PRF is intended to fund preemptive resilience, breaking the catastrophic cycle of disaster and debt,” she explained.
The PRF will be operationalised after the anticipated Treaty signing at the 54th Pacific Islands Forum Leaders Meeting in September in Solomon Islands.
Solofa emphasised that these initiatives are not isolated efforts but are linked to the ongoing Review of Regional Architecture (RRA), aimed at improving coordination and efficiency across Pacific Islands Forum Member States.
“The RRA will look to put in place a regional system where PRED, CFAMS, and PRF are implemented in a coordinated and efficient manner,” she said, stressing that this is essential for meeting the needs of Forum Member States.
Solofa also urged the officials to engage openly in refining these initiatives.
“I urge you to openly and constructively critique and refine these initiatives and, as appropriate, recommend their endorsement to our Finance Ministers.
“We are here to deliver results by bolstering economic stability amid global uncertainty, to secure finance for climate resilience, and empowering our grassroots communities,” said Solofa.
