Deputy Prime Minister and Minister for Finance of Fiji, Professor Biman Prasad, has urged for enhanced regional integration at the 35th Pacific Developing Member Countries Governors’ Meeting alongside the Asian Development Bank (ADB) Annual Meeting in Milan. Emphasizing the necessity for deeper collaboration among Pacific nations, Professor Prasad proposed the creation of a visa-free Pacific, including Australia and New Zealand. This initiative aims to promote the movement of people, ideas, and investment while aligning policies and regulations across the region.
During discussions focused on private sector development, Prasad acknowledged the unique challenges the Pacific region faces. He suggested a reevaluation of ADB’s Private Sector Window to make it more relevant to Pacific needs, advocating for increased local technical expertise and support for effective project implementation. He expressed gratitude towards ADB for its commitment to the region, reaffirming Fiji’s dedication to working collaboratively with development partners to foster a more dynamic and resilient Pacific.
The meeting convened finance ministers and representatives from 13 Pacific nations, leading to a high-level dialogue with ADB President Masato Kanda on pressing regional and global issues, including the impacts of geopolitical conflicts, tariff escalations, and persistent climate threats.
Professor Prasad’s proactive approach aligns with previous discussions held by Pacific leaders regarding the urgent need for comprehensive support systems addressing the region’s developmental vulnerabilities. These ongoing dialogues reflect a collective ambition to overcome the challenges faced by Pacific island nations while promoting sustainable growth.
This focus on regional cooperation is timely, considering the global uncertainties impacting economic stability. The dialogue inspired by leaders like Professor Prasad demonstrates that through collaboration and strategic initiatives, there is hope for a stronger and more sustainable future for Fiji and its Pacific neighbors.
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