PRESS RELEASE
Pacific Finance and Economic Ministers are in Suva, Fiji for the Annual Forum Economic Ministers Meeting (FEMM) which is held from 7 – 10 August, 2023. FEMM commenced with the Forum Economic Official Meeting (FEOM) from 7 – 8 August 2023, followed by the Ministerial meeting on the 9 – 10 August, 2023.
The theme of the 2023 FEMM is ‘OUR PACIFIC WAY- Prosperity for all’.
At the heart of the FEMM discussions is the Pacific Roadmap for Economic Development (PRED) and the development of the 2050 Strategy Implementation Plan (IP) to enable implementation of the 2050 Strategy for Blue Pacific Continent.
Further, given the Pacific Islands vulnerability to climate change and natural disasters, amongst the critical topics discuss are the Pacific Climate Finance Opportunities (PCF), Regional Disaster Risk Finance Roadmap (RDRFR) and Guidelines for developing national disaster risk finance, Pacific Resilience Facility (PRF), Finance for Ocean and Climate Change (FOCC) and other climate finance related topics.
Other relevant topics such as the: social and economic impact of the regional labor schemes, correspondent banking relationship (CBR) and EU list of non-cooperative tax jurisdiction are also explored and discuss.
The Minister for Finance, Hon. Tiofilusi Tiueti is leading the Tonga delegation to the FEMM, and accompanied by the CEO for Finance, Ms. Kilisitina Moala Tuaimei’api, CEO for Public Enterprises, Sione ‘Akau’ola, Deputies CEO for Finance – Ms. ‘Ilaisaane Lolo and Ms. Vasiata Vaiaku Afemui.
The Pacific Island Countries take turn in hosting this annual events and Tonga will host the 2024 FEMM.
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