REMARKS: Opening Remarks by Secretary General, Baron Divavesi Waqa, at Special Forum Economics Ministers Meeting

Hon, Dr. ‘Aisake Valu Eke, Prime Minister and Minister of Finance, Tonga and the Chair of the Pacific Islands Forum

Hon Crossley Tatui, Minister for Finance for Niue

Hon Tukaka Ama, Associate Minister for Finance and Economic Management, Cook Islands

Hon Delvin O’neal Thoma, Deputy Minister for Finance for Nauru

Heads of Delegations,

Excellencies & Senior Officials,

Ladies and Gentlemen.

Ekamawir omo, malo e lelei and good morning to you all.

2.    Itis my great pleasure to welcome our new Forum and FEMM Chair, the Honourable Prime Minister and Minster for Finance of Tonga, Hon. Dr ‘Aisake Valu Eke. I also join him in warmly welcoming you all to this Special Forum Economic Ministers Meeting, here in the Friendly Islands of the Kingdom of Tonga. As we gather here today, for this Special FEMM, I am once again reminded of the importance of our collective goal and efforts through the 2050 Strategy for the Blue Pacific Continent to promote economic recovery, resilience, sustainable, and inclusive growth across our Blue Pacific.

2.    Having said that we must recognise that the policies and measures being taken by the new US Government are having global implications, from which we will not be immune. We cannot ignore these global developments.  They will inevitably have an impact on consumer prices and the general level of economic activity in our region.

3.    The global geo-political uncertainties, especially the cuts to the US development funds, are also likely to continue to attract attention to the region from traditional and non-traditional political and development partners keen to fill the gaps.

4.    As ever when FEMM meets, I am also reminded of our Leaders Vision as stated in the 2050 Strategy and I quote - “As Pacific Leaders, 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”. We must never forget that this is our overarching goal, to be achieved through regional economic cooperation and integration in support of regional collective actions that in turn support national priorities.

5.    This 2050 Vision recognises the uniqueness and diversity of our Pacific Island nations but also our collective principles of inclusivity, equity and equality for our peoples of the Pacific.

6.    Turning back to the agenda for today, we only have three (3) substantive items.  Firstly, it is important that Ministers consider and endorse the Pacific Roadmap for Economic Development (PRED) as we adapt, innovate and implement the regional collective actions and priorities outlined in our 2050 Strategy Implementation Pan. The regional priority actions described in the PRED are a catalyst towards ensuring the future prosperity of our people.

7.    The PRED has now been nearly three years in the making; it has involved extensive consultation and reviews with members, partners and stakeholders.  This also includes a careful review of all the region’s national development plans to assist in identifying suitable regional projects that would complement and support the achievement of national priorities.

8.    The second agenda item is for Ministers to consider and endorse the draft Climate Finance Access and Mobilisation Strategy (CFAMS). The CFAMS is aimed at mobilising innovative, public and private financing opportunities to support regional programmatic initiatives linked to the 2050 Climate Change and Disaster thematic outcomes. It will cover the potential pathways to engage private sector investment and leverage innovative financial mechanisms to secure necessary funding for implementing climate actions.

9.     The third paper for Minister’s to consider is the Pacific Resilience Facility’s (PRF) draft Establishment Agreement (Treaty) and the pathway to Treaty signing and ratification at the 54th Pacific Island Forum Leaders Meeting. The paper also provides updates on the draft Rules of Procedures and core operational policies, PRF transitional governance and operational arrangements, progress towards PRF capitalisation and the high-level advocacy fund-raising plan for 2025, the status of the PRF financial rules modelling, and the PRF set-up budget and work plan for 2025-2026.

10.    The Pacific Islands Forum has always been a source of mutual reassurance and support for Members in uncertain times as we are currently facing with increasing trade wars, continued conflicts and tensions in Europe and the Middle-East, as well as in parts of Asia. 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; by cooperating and working together, we can navigate the complexities of the current geo-political situation and uncertainties in the global economy.

11.    Let us once again use this meeting of FEMM as an opportunity to reaffirm our commitment to collaborate, to endorse the regional priority actions contained in the three papers for consideration and to continue to chart a course towards a prosperous and sustainable future for our Blue Pacific Continent.

12.    I wish you all fruitful deliberations and I affirm that your Secretariat stands ready to support you.

Thank you all, Malo ‘Aupito.