The Japan-Pacific Islands Finance Ministers’ Meeting (May 3, 2024)

On May 3, 2024, the inaugural Japan-Pacific Islands Finance Ministers’ Meeting was held in Tbilisi, Georgia, with the attendance of 11 Pacific Island Countries (PICs), and Mr. Shunichi Suzuki, Minister of Finance, Japan, and Mr. Mark Brown, Prime Minister and Minister of Finance and Economic Management, Cook Islands, co-chaired the meeting. The outcomes of the discussion are summarized in the “Co-Chairs’ Summary of the Japan-Pacific Islands Finance Ministers’ Meeting(PDF:17KB)”. The main points are as follows.

• Ministers appreciated the first-ever opportunity to bring together the Finance Ministers from Japan and PICs. They also appreciated deepening of mutual understanding and strengthening of relations through the candid face-to-face discussion.
• Ministers had an active discussion on the development challenges facing PICs, including climate change, financial integrity and inclusion, and debt sustainability, as well as possible future cooperation between Japan and PICs. In this context, PICs appreciated Japan’s continued support to PICs.
• Following the conclusion of the replenishment of the Asian Development Fund (ADF) of the Asian Development Bank (ADB), PICs appreciated Japan's contributions as the largest donor. ADF will be utilized for concessional assistance by ADB to address critical development issues common to PICs, such as strengthening climate change adaptation and promoting regional cooperation and integration.

Ministers also agreed to hold the meeting next year.