Deputy Prime Minister and Minister for Finance Professor Biman Prasad is calling on Pacific leaders to meet urgently to map a firm regional response to the unfair tariffs imposed on a region that has consistently been the United State’s strongest partners.
While opening the 2025 Pacific Islands Investment Forum CEO Workshop in Nadi today, Professor Prasad is also calling for Pacific leaders to meet the US Government urgently to present the region’s special circumstances, to state the regional case for fairness on tariffs and to explore further the medium-term adjustments that they need to make.
He says the impacts of upheavals arising from the global markets on the regional markets – though uncertain at this stage – are going to be significant.
Professor Prasad says there is doubt about this but arbitrary decisions taken in faraway capitals have the potential to harm the financial future of our people.
The Deputy Prime Minister stresses they have the potential to harm the regions economic progress and weaken efforts to build a sustainable and resilient Pacific.
He adds given this urgency, there is a need for a strong Pacific wide response.
While speaking on the challenges of climate change, Professor Prasad says they cannot wait for international solidarity and finance as this will make the task of adapting economies even harder and they need to move.
He says to not begin financing climate-resilient infrastructure, supporting low-carbon transitions, and embedding sustainability into our investment strategies will be the greatest own goal they will have scored. He adds as the Pacific’s largest pool of investment finance, they must accelerate climate-smart investments across the Pacific.
