Page 16 - IB MAY 2017

The Region
40 years on, Forum challenges remain

WHEN Pacific Islands Forum Leaders
gathered in Apia, Samoa, in 1978, the
then Prime Minister Honourable Tupuola
Efi said: “The basic question that faces
us, is that of deciding how to re-define
the rules to assure that the rights of small
nations are adequately protected. The
guts of the issue is that we are small. We
have to define the rules as we see them
to protect our interests”.
Forty years on, these sentiments re-
main key to our regional development
considerations, as economic and social
developmental challenges, exacerbated
by the impact of climate change, require
innovative approaches in the design and
implementation of economic policies.
They were at the heart of the recently
concluded Pacific Islands Forum Eco-
nomic Ministers Meeting (FEMM) which
was themed Finance for Development
Solutions.
Addressing economic vulnerabilities
is crucial given the Pacific’s inherent
geographical isolation and distance from FORUM Secretary General Meg Taylor presides over a Leaders’ meetinç. Photo: Forum Secretariat
major global markets, dispersed popula-
tion across islands, and narrow economic According to the World Bank Group, fi- implemented by the Forum Secretariat,
bases. nancing for Pacific Island Countries (PICs) to further strengthen country systems
While addressing barriers to inclusive has quadrupled from $USD290 million in through peer learning which includes
progress has been a natural part of de- 2009 to $USD1056 million in 2016. In the (Pacific) South-South attachment arrange-
velopment efforts, Pacific Islands Forum last 60 years, PICs have experienced losses ments for central planners and finance
Leaders and Ministers are also consider- from disasters including climate shocks professionals.
ing options for sustainable approaches averaging $284 million a year, affecting The requisite to continue addressing
to weaning themselves off external fund more than nine (9) million people, report- development needs as a bloc of nations
dependency, particularly in terms of di- edly killing some 10,000 people. On the fighting for mutual interests and present-
saster preparedness. World Risk Index, PICs are among the top ing unified positions on issues that mat-
A few days before the week-long 2017 20 ranked countries globally – Vanuatu ter was clear at the 2017 FEMM; Pacific
FEMM, a new $USD29.73million regional 1st, Tonga 2nd, Solomon Islands 6th, PNG regionalism as a development pathway
disaster risk finance project was launched. 11th and Fiji 16th. will be crucial if no one is to be left behind.
The Pacific Catastrophe Risk Assessment Being part of the global United Na- 2017 FEMM chairperson Samoa’s Min-
and Insurance Initiative (PCRAFI) will tions family, the Sustainable Develop- ister for Finance, Sili Epa Tuioti, cautioned
effectively ease the financial impacts of ment Goals (SDGs, also referred to as the that the pursuit for development would
disasters including major cyclones, earth- 2030 Agenda) and its ultimate objective be at a cost, underlining the importance
quakes and tsunamis. of advancing society without leaving of shifting from being reactionary to the
Speaking on the PCRAFI at the post any one behind, has been an invaluable way we addressed issues to being proac-
FEMM press conference, Cook Islands planning framework for Forum countries, tive and “solution-based”.
Minister for Finance, Mark Brown said: with regional and national development “The issue of financing is not a simple
“The beauty about this insurance facil- strategies fundamentally aligned to the discussion. The 2017 FEMM provided us
ity is that there is no need for project 2030 Agenda. with the opportunity to consider the com-
development or project monitoring, you The implementation of the Millennium mon challenges we face and deliberate on
can put your money in the knowledge Development Goals (predecessor to the a coherent and practical way forward for
that it is being managed professionally SDGs) taught the region much that can improved and sustainable livelihoods for
and the outcomes of this particular fund improve national performance indica- our people,” Tuioti said.
go directly to addressing the issues of tors for the SDGs. At our disposal also “We drive our respective national devel-
disaster and helping countries to recover is the Forum Compact on Strengthening opment agendas. The same should be said
from disaster”. Development Coordination in the Pacific of our regional development agenda. For
Region, an initiative of the Forum Leaders if there is no linkage between our national

16 Islands Business, May 2017