Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, highlighted the pressing need for enhanced collaboration between academic researchers and policymakers at the 3rd Reserve Bank of Fiji – Asian Development Bank Institute (ADBI) and Asia-Pacific Applied Economics Association (APAEA) Conference held recently at the Grand Pacific Hotel in Suva. This event gathered key stakeholders from the region to discuss how evidence-based research can shape effective policy-making aimed at fostering economic growth in Fiji and the broader Pacific.

During his keynote address, Professor Prasad emphasized that for Fiji to achieve its goal of becoming a high-income nation by the year 2050, a reevaluation of traditional implementation strategies is imperative. He stated, “Good politics is not necessarily good policy, and good policy is not always good economics,” underscoring the importance of integrating research, policy, and political action.

He praised the collaborative efforts among the Reserve Bank of Fiji, ADBI, and APAEA, which have strengthened confidence in the country’s economic outlook. Professor Prasad called on participants to continue producing research that links economic theory to practical applications, ultimately leading to evidence-based policies that can improve the quality of life for citizens.

This conference represents a significant step forward in bridging the gap between research and practical policy, showcasing a commitment to driving sustainable economic development in Fiji. The collaborative spirit demonstrated at the event illustrates hope for a future where academic insight and policy-making work hand in hand, paving the way for innovative solutions to complex economic challenges.

Overall, the message conveyed by Professor Prasad emphasizes a proactive approach to economic growth: the integration of research findings into actionable policies can lead to beneficial outcomes for the entire region, further enhancing Fiji’s ambitions on the global stage.