2011 FEMM:Ministers to map out region's economic action plan

15 July 2011

2011 FEMM: Ministers to map out region's economic action plan

Apia, Samoa, 14th July, 2011 - Advancing issues of economic management and development remain high on the Pacific Islands Forum’s agenda.

Forum Economic Ministers gather in Apia, Samoa, from 20th-21st July to deliberate on means of managing the region’s economies through strategic policy responses leading to the formulation of the 2011 Forum Economic Action Plan.

The Forum Economic Ministers Meeting (FEMM) acts as a key adviser to Pacific Islands Forum Leaders on broader issues of economic management and development. Forum Leaders meet this year in Auckland, New Zealand, from 6th-9th September, where they will be appraised of key issues discussed by the Ministers.

“At previous FEMM meetings, Economic Ministers agreed on ways to manage Pacific economies through policy responses, such as safeguarding macroeconomic stability, pursuing reforms to create an enabling environment for private sector development and strengthening areas of comparative advantage such as agriculture, tourism and fisheries sectors,” explains the Secretary General of the Pacific Islands Forum Secretariat, Tuiloma Neroni Slade.

“Persevering with implementation of these policies is essential, and they continue to be the basis for cooperation and to provide guidance for the region.”

Economic Ministers will also be sharing country experiences on measures taken to broaden the economic base and increase growth.

“Discussions are also expected to cover macroeconomic developments since their meeting in Niue last year, including food and oil price implications,” says Mr Slade.

“Other items on the FEMM’s agenda will include updates on the implementation of the Forum Compact on Strengthening Development Coordination in the Pacific, options to improve access to and management of climate change resourcing, Pacific interests in G20 developments, and access to finance for economic growth.”

Forum Economic Officials gather on 19th July before transmitting their recommendations through to FEMM. All meetings will be held at the Tooa Salamasina Hall in Apia.

ENDS

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