Island leaders urged to manage economies well

PRIME Minister Peter O’Neil has urged Pacific Island nations to manage current economic challenges by sticking to sensible financial management and exploring innovative trade opportunities.
O’Neill, the chairman of the Pacific Islands conference of leaders meeting in Hawaii, urged the leaders to bring the Pacific islands perspective to current issues, and share these with the United States and other powers.
“We must look at how we can all be more effective in engaging with United States and its agencies through a whole of Government approach,” he said.
The leaders were to discuss security issues in the region at the meeting.
“There is no doubt that the international community is in unsettled political and economic times – all of which impact on security,” he said.
“We see maritime tensions, a growing terrorist threat out of the Middle East and frustrations between the strongest political powers on the planet.”
O’Neill said on the economic front, Pacific Island nations continued to face significant financial pressures with low commodity prices, an economic slowdown in China, and uncertainty in the European Union with the British exit vote.
“There are some observers who draw parallels to the global uncertainty of the decade immediately before each of the world wars,” he said.
“Leaders of the world must learn the lessons and not repeat mistakes. We must manage current political tensions through dialogue.
“We must look at how we can all be more effective in engaging with United States and its agencies through a whole of Government approach. We must also recognise that the strength of Pacific regionalism is in our unity.”