07 August 2025
Suva, Fiji - Forum Economic Ministers convened in Suva from 22 to 23 July 2025 for the annual Forum Economic Ministers Meeting (FEMM), where they reaffirmed the region’s commitment to strengthened economic integration, private sector development, and collective resilience.
Under the theme “Stronger Together: Advancing Economic Resilience and Sustainable Futures in the Pacific,” Ministers engaged in high-level dialogue to address shared challenges and chart a path forward for inclusive and sustainable economic growth.
Against a backdrop of increasing global uncertainty and a downgraded global growth forecast—from 2.7% to 2.3%—Ministers emphasised the urgency of deepening regional cooperation.
Prime Minister and Minister for Finance of Tonga and FEMM Chair, Hon. Dr. Aisake Valu Eke, called for renewed solidarity in advancing the vision of Forum Leaders:
“The need for working together amidst the increasing global uncertainties confronting our region is critical and cannot be overstated. We need to work together in solidarity to realise our Forum Leaders’ vision for collective aspirations and action,” he said.
A major milestone from the meeting was the unanimous endorsement of the Pacific’s first-ever Regional Private Sector Strategy (PRPSS). Recognised as a cornerstone of economic transformation, the Strategy reflects a strong regional commitment to empowering the private sector—particularly Micro, Small and Medium Enterprises (MSMEs)—through an enabling environment that fosters innovation, job creation, and sustainable growth.
Ministers highlighted the Strategy’s alignment with the 2050 Strategy for the Blue Pacific Continent and the Pacific Roadmap for Economic Development, and called for clear, actionable implementation tailored to the diverse realities and comparative advantages of all Forum Members, including smaller economies.
Ministers also welcomed progress across a few strategic regional initiatives. These included the expansion of the Pacific Correspondent Banking Relationships (CBR) Project to include Solomon Islands, bringing the total membership to eight and reinforcing regional efforts to mitigate financial exclusion.
Ministers further noted positive developments toward the ratification of the Pacific Resilience Facility (PRF) Treaty, to be considered at the 54th Pacific Islands Forum Leaders Meeting in Solomon Islands, reaffirming their commitment to a Pacific-led, sustainable approach to climate adaptation financing.
Australia’s update on its bid to co-host COP31 in partnership with the Pacific was welcomed as a vital opportunity to amplify Pacific leadership on global climate issues.
Ministers also expressed strong support for Fiji’s bid to host the Green Climate Fund’s Pacific regional office in Suva, highlighting the need for a unified regional position to maximise the opportunity and strengthen climate finance access for all Pacific nations.
The 2025 Forum Economic Ministers Meeting concluded with a united call for bold and coordinated action to address regional economic vulnerabilities and unlock shared opportunities. Ministers emphasised the importance of inclusive and equitable economic strategies, sustainable financing mechanisms, and robust international partnerships to secure a resilient and prosperous future for the Blue Pacific Continent.
[ENDS]
