By Katalina Siasau

The Pacific Islands Forum (PIF) Economic Ministers and officials are meeting in Nuku'alofa today, for a Special Forum Economic Ministers Meeting (FEMM).

The Prime Minister's Office told Matangi Tonga that the Economic Ministers are holding a closed meeting today, with an official opening scheduled for tomorrow morning at the Fa'onelua Convention Center.

The Forum Secretary General, Baron Waqa is  in Nuku'alofa for the meeting.

The Special FEMM will focus on three key regional initiatives including the Pacific Roadmap for Economic Development (PRED), the Climate Finance Access and Mobilisation Strategy (CFAMS), and the Pacific Resilience Facility [2], the first Pacific-led, member-owned and managed and people-centred climate and disaster resilience financing facility, which will be headquartered in Tonga.

Economic Ministers and officials will consider the PRED, a regional framework for enhancing policy coherence and promoting deeper regional economic integration, aligned to the 2050 Strategy for the Blue Pacific Continent and its Implementation Plan.

"Discussions will also focus on the draft CFAM Strategy, which will seek to streamline access, build institutional capacity, and enhance regional collaboration to improve the effectiveness and availability of climate finance. It will also look at unlocking innovative public and private financing to support regional climate initiatives," PIF Secretariat stated.

"Set against a complex and dynamic global geopolitical landscape, with the potential to further impact the region’s economic outlook and amplify its vulnerabilities to external shocks and climate-induced disasters, Forum Economic Ministers and officials’ consideration of these regional initiatives will be critical in supporting concerted efforts to deepen regional economic cooperation and integration to advance sustainable development across the Blue Pacific."

The Special FEMM will also consider the draft Establishment Agreement (Treaty) of the Pacific Resilience Facility [2]. At their meeting in Nuku’alofa last year, Pacific Islands Forum Leaders endorsed Tonga as the host country for the PRF.

Tonga last hosted a meeting of the Forum Economic Ministers twelve years ago.

A joint press conference will be held at the conclusion of the Special FEMM.