An Economic Dialogue aimed at growing the Tongan economy in a collective effort, will be held on March 7-8  hosted by the National Reserve Bank of Tonga.

The Governor of the NRBT Siosi Mafi, said the dialogue will bring together all sectors of the Tongan economy from Government, the financial sector, the private sector and international organizations to develop actions to address the challenges Tonga is facing and to strengthen economic growth.

She said the dialogue would focus on the three traditional sectors of agriculture, fisheries and tourism to identify how they can dismantle the blocks to allow these sectors to realize their full potential.

Associations or groups in agriculture, fisheries, tourism are expected to present strategies. Submissions of proposed strategies are required to be handed in no later than March 2, she said.

"The dialogue has been designed to make a difference because we aim to produce clear outputs or strategies which can be implemented and followed through. We are framing the sessions to have about four to five strategies in each session and identify actions under each strategy."

She said they would work closely with Government and other agencies, such as the World Bank, on the implementation of these conclusions.

The NRBT initially held consultations with stakeholders in fisheries, agriculture, tourism, small businesses. Strategies would include concerns by farmers seeking assistance to export their products to an overseas market, she said.

There will be discussions on growing the economy, dismantling the barriers to growth of the agriculture sector, the future of the fisheries sector in Tonga, realizing the potential of the tourism sector, private sector development and expanding the role of the financial sector to grow the economy.

The Chair of the NRBT Board Steve Edwards said there was no doubt that the economy is experienceing a downturn, which is evident in the decline of annual remittances by $82 million since 2008, caused by the global financial  crisis, which had affected jobs overseas. 

He said agricultural and fisheries exports had also declined by up to 60 and 70 percent.

"It is therefore important in this dialogue that we canvass the views of everyone from small business operators, to large companies and the communities at large," he said.

Guest speakers willinclude Mr Ferid Belhaj, World Bank Country Director for Timor-Leste, PNG and Pacific and Mr Robert Withol the Director General Pacific Department, Asian Development Bank.