The Pacific Islands Forum through funding support of USD1.07million from the Government of Japan will stimulate economic recovery efforts of sixteen Forum Island Countries (FICs) through the promotion of trade, investment, and tourism.
The aim of the project is to diversify Pacific economies, strengthen their resilience against shocks, optimize blue economy potential benefits and future proof Pacific economies. It is also targeted at increasing trade, investment and tourism opportunities between Japan and the FICs.
The project is timely as FICs are rebuilding economies and partnerships like this will further aid in development efforts.
“The project supports our economic development and trade aspirations under the 2050 Strategy for the Blue Pacific Continent – as well as the Resource and Economic Development and Connectivity and Technology thematic areas,” said Henry Puna, PIF Secretary General.
“The project budget is USD 1.07 million. This is one of the largest cooperations from the Government of Japan to the PIF. The Government of Japan strongly hopes that this project will contribute to the realization of the “2050 Strategy for the Blue Pacific Continent” and further strengthen economic relations and cooperation with the PIF, its member countries and regions,” said KAWAKAMI Fumihiro, Ambassador of Japan.