Peter Costello

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Pacific Islands Forum Economic Ministers' Meeting (FEMM)

NO.036

PACIFIC ISLANDS FORUM ECONOMIC MINISTERS' MEETING (FEMM)

The Treasurer will represent Australia at the 6th annual Pacific Islands Forum Economic Ministers Meeting, to be held in Vanuatu from July 2 to 4.

The objective of the meeting is to support Forum Island Countries (FICs) in the development of appropriate economic policies for achieving their sustainable development goals.

The meeting will provide Economic Ministers with the opportunity to assess progress in the implementation of economic and governance reform in the FICs. The framework for this reform was established by the Forum Economic Action Plan, adopted at the first FEMM in 1997. The Action Plan spells out strategic issues of importance to the region in promoting trade, investment, private sector development and good governance. Economic Ministers will discuss further action to advance implementation of their Action Plan.

The meeting has a strong emphasis on addressing the practical difficulties of implementing economic and governance reform. An important theme this year is the role of the private sector in Pacific economies. Ministers will be joined by regional private sector representatives to consider ways in which the involvement and contribution by business to economic policy formulation in the FICs can be enhanced.

1 July 2002

Contact: Niki Savva
(02) 6277 7340

1 Jul 2002

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