Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, underscored the crucial need for enhanced collaboration between academic researchers and policymakers to propel Fiji’s economic advancement. His remarks came during the opening of the 3rd Reserve Bank of Fiji – Asian Development Bank Institute (ADBI) and Asia-Pacific Applied Economics Association (APAEA) Conference held at the Grand Pacific Hotel in Suva.

The conference aimed to unite policymakers and economists with a focus on how evidence-based research can inform effective policy-making for Fiji and the wider Pacific region. During his keynote address, Prof. Prasad emphasized transforming academic findings into practical policies that foster tangible improvements within society. He noted, “Good politics is not necessarily good policy, and good policy is not necessarily good economics,” highlighting the intersection of research, policy, and politics as essential for driving economic growth.

With a vision for Fiji to achieve high-income nation status by 2050, Prof. Prasad advocated for rethinking traditional implementation strategies to meet this ambitious goal. Furthermore, he pointed out the significance of collaborative efforts among the Reserve Bank of Fiji, ADBI, and APAEA in instilling confidence in the nation’s economic trajectory.

This conference presents a promising opportunity for bridging the gap between research and policy-making, showcasing how thoughtful collaboration can lead to innovative solutions that enhance the quality of life in Fiji and the surrounding region. By fostering stronger ties between academic insights and practical applications, there is hope for a sustainable and prosperous future, where research effectively informs decision-making processes.

The objective is clear: integrating research findings into actionable policies can lead to significant benefits for the citizens of Fiji, paving the way for economic resilience and growth. The proactive approach discussed during the conference could be a crucial step in realizing Fiji’s aspirations for long-term development and stability.