FORUM ECONOMIC MINISTERS MEETING

admin's picture

SOUTH PACIFIC FORUM SECRETARIAT

Suva, Fiji

PRESS STATEMENT July 8, 1998

NADI, FIJI

Ministers from South Pacific Forum member countries met in Nadi, Fiji 7-8 July for the second annual Forum Economic Ministers Meeting.

In July 1997, in Cairns, Australia, Ministers agreed on a Forum Economic Action Plan to promote good economic management. This was endorsed by Forum Leaders in the Cook Islands in September 1997, who asked Economic Ministers to review and report back to them progress in the implementation of the Action Plan. This task was a key focus for Forum Economic Ministers, though many new issues were also considered.

In reviewing implementation of the Plan, Ministers noted good overall progress, taking into account capacity constraints facing some members. This review of the 1997 Action Plan and new matters raised in the course of the meeting are covered in the attached Forum Economic Action Plan - 1998 Review.

The meeting was held against the backdrop of regional and global economic difficulties, as starkly underscored by the Asian crisis. Ministers remained confident that the best way to respond to such difficulties is by continuing to strengthen their economies by pursuit of the 1997 Action Plan.

Key outcomes which Ministers agreed to address as appropriate to their country’s circumstances include:

considering the importance of telecommunications-based information and business, to encourage the development of the information economy in the region and to consider regional strategies for this purpose at their next meeting.

FORUM ECONOMIC ACTION PLAN : 1998 REVIEW

Future Economic Developments and Outlook

we will recognise our different capacities to implement comprehensive reforms, we will consider careful sequencing and prioritisation of reform, while accepting that public accountability and political commitment are of overriding importance;

Improving the Business Climate

Achieving Free and Open Trade and Investment

Multilateral Trade Issues

Reform Impacts and Sectoral Issues

Rate this article: 
Average: 4 (1 vote)

Add new comment