Pacific finance ministers have called for stronger regional cooperation to address rising fuel costs, supply chain risks and growing economic uncertainty during the 2026 Forum Economic Ministers Meeting held in Majuro, Republic of the Marshall Islands.
The meeting, chaired by Marshall Islands Minister of Finance David Paul, brought together finance ministers and senior officials from Forum member countries under the theme of economic and financial inclusion. Discussions centred on the growing impact of international conflicts, volatile energy prices and increasing food import costs on Pacific economies that remain heavily dependent on imported fuel and essential goods.
PIFS Secretary General Baron Divavesi Waqa addressing the Forum Economic Ministers meeting. Photo: Pacific Islands Forum.
Forum Secretary General Baron Divavesi Waqa told ministers that regional cooperation remains the Pacific’s strongest response to increasingly complex global economic conditions. Delegates considered measures to improve fuel security, strengthen supply chains and advance implementation of the Pacific Roadmap for Economic Development under the 2050 Strategy for the Blue Pacific Continent.
Officials noted that instability in the Middle East has increased uncertainty around global oil supplies and shipping costs, placing additional pressure on island economies already facing high transport expenses and inflation.
According to discussions during the meeting, higher fuel prices are affecting governments, businesses and households throughout the region. Countries are exploring options including greater regional fuel procurement cooperation, expanded renewable energy investment and improved financial resilience to reduce exposure to future external shocks.
The meeting also examined financial inclusion, economic resilience and strategies to improve long-term growth across Forum member countries.
Marshall Islands, as host, highlighted the importance of coordinated regional action rather than individual national responses to increasingly interconnected economic challenges.
The outcomes of the meeting will feed into future Pacific Islands Forum deliberations and continue work on strengthening economic resilience across the Blue Pacific at a time when many island economies remain vulnerable to global commodity price movements and external shocks.
