Monday, November 1, 2010

[pima.nius] Pacific ministers stress importance of embracing private sector

11:46 AM |

Pacific ministers stress importance of embracing private sector

Posted at 17:11 on 31 October, 2010 UTC

Pacific Islands Forum Economic Ministers meeting in Niue have endeavoured to make it easier for private businesses to operate in the island countries.

The theme of the economic minister's meeting was building greater economic resilience in the wake of the global economic crisis.

The ministers looked at improving the performance of state owned enterprises, making more of the region's advantages in fisheries and tourism and easing the hurdles faced by private enterprises.

New Zealand's Associate Minister of Finance, Simon Power, says there is a need to widen the focus:

"There's also though in many of these countries a heavy reliance on the government sector to get things done and it's about working with these aid partners, the Asian Development Bank, the World Bank and others to ensure that we take a broader look at how some of those economies can be kickstarted using some of that private sector knowledge."

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