Discussion underway on key regional issues

August 12, 2022 5:00 am

[Source: Pacific Islands Forum/ Facebook]

The 2022 Forum Economic Ministers Meeting got underway in Port Villa Vanuatu where a number of key regional issues are expected to be discussed over the next two days.

Pacific Islands Forum Secretary General Henry Puna says key items on the agenda are, the 2050 Strategy for the Blue Pacific Continent, regional initiatives to support economic recovery, climate risk and disaster risk financing, the Pacific Resilience Facility, a Concept Note on the Blue Pacific Economic Strategy and an update on the 2030 UN Sustainable Development Goals.

He says the theme of this meeting, “Towards a Resilient Economic Recovery and Stability” aptly aligns with the Forum Leaders Meeting last month and the recently launched 2050 Strategy for the Blue Pacific Continent.

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Puna says people are living in very challenging times and our Blue Pacific region faces significant challenges.

He told the leaders that most of these challenges fall directly under their responsibilities as Finance and Economic Ministers.

Puna says the ongoing climate change crisis faced by the region, and the COVID-19 pandemic has devastated the economies and that this is being exacerbated by geo-political tensions such as the Russia-Ukraine war and its impacts on the global economy.

The Forum Secretary General says many countries face long-term debt sustainability challenges and people are threatened by the rising cost of living that is affecting their livelihoods and communities.

He says these are issues that are dealt with by the leaders at national level on a daily basis and sharing experiences, priorities and lessons learnt helps strengthen regional cooperation to support economic recovery, resilience and stability in our region.