By Katalina Siasau

The Forum Secretary General, Baron Waqa called for Pacific unity against external pressures and economic challenges, at the opening of the Special Forum Economic Ministers Meeting (FEMM) today, 26 March, at the Fa'onelua Convention Center in Nuku'alofa.

He noted how this meeting takes place during a defining moment for the blue Pacific, when major powers are competing for attention and influence in the Pacific.

“The world around us is marked by intensifying geopolitical currents, where major powers are vying for attention and influence across the Pacific. This contest brings promise and peril, testing our ability to safeguard our economic sovereignty. It is challenging our rights to chart our own course, free from external pressures that compromise the aspirations of our people.”

He said these issues are occurring amidst the climate crisis, economic instability, and debt challenges for several of the Forum Member States.

He noted the importance of unity for the Pacific future, “In the face of these trials, our greatest asset remains our unity. The Pacific has long understood that our future lies not in fragmentation, but in collaboration.”

Central to that vision, the Forum SG said that the review of regional architecture is a strategic effort to ensure Pacific institutions and partnerships are agile, cohesive, and effective in amplifying the Pacific collective voice.

Finance Ministers and economic officials from the 18 Pacific Islands Forum nations are meeting today in Tonga to discuss three pivotal regional initiatives: the Pacific Roadmap for Economic Development (PRED), the Climate Finance Access and Mobilisation Strategy (CFAMS), and the Pacific Resilience Facility (PRF).

Geopolitical competition

The Prime Minister of Tonga, Forum Chair, and Chair of the FEMM, Hon. Dr ‘Aisake Eke, noted that FEMM provides a vital platform for economic and financial Ministers to address critical development issues for island economies. He said these included the "impacts of escalating geopolitical competition, such as supply chain disruptions and rising inflation."

He added that Pacific economies have been tested time and again by global, regional, and national challenges.

He emphasized the importance of reducing our dependence on external factors and setting long-term goals to proactively build future-ready economies.

“One important lesson is that we as a region, need to reduce our dependency on others and set long term goals to move us from being reacted to our challenges but rather build pathways for future-ready economies."

Pacific Resilience Facility

The Pacific Resilience Facility, to be established in Tonga, represents the Pacific’s determination against the relentless cycle of disasters and debt.

The PRF establishment agreement will be considered and endorsed by the special FEMM today.

The Special Forum Economic Ministers Meeting (FEMM) was officiated this morning by HRH Crown Prince Tupouto’a ‘Ulukalala, with the presence of Pacific Finance Ministers, Tonga's Lord Speaker of the House, Lord Fakafanua, Members of the Tongan Parliament, and Diplomatic Corps.