A number of Pacific Island Countries have significantly earned more revenue through the extraction of natural resources like oil, gas and minerals and the expectations for future developments in this area are high.
This was pointed out this week by the Minister for Provincial Development Mr Inia Seruiratu while opening a three-day meeting in Nadi for Pacific Islands on managing resources from ‘extractive industries’.
Minister Seruiratu noted that earnings from these industries impact ordinary Pacific islanders including Fijians.
“We all share a common vision regarding the extractive industries, which is to grow and generate more revenue for our countries and have its benefits trickle down to our grassroots people,” he said.
“Additionally, we must ensure that this shared vision encompasses good governance, sound management of revenues, safeguarding of landowners’ interests and environment sustainability.”
“Many customary owners continue to believe that mineral found on their land is their property and not State-owned. Hence the strong belief that they are entitled to any monetary benefits derived from those minerals,” Minister Seruiratu added.
“Practically when this does not happen, they are disillusioned and that is causing a lot of tensions and violence in some of our Pacific Island countries.
“Many customary owners continue to believe that mineral found on their land is their property and not State-owned. Hence the strong belief that they are entitled to any monetary benefits derived from those minerals. Practically when this does not happen, they are disillusioned and that is causing a lot of tensions and violence in some of our Pacific Island countries. Fiji is no exception. This is an opportune time for this Symposium to work out the best approach to harmonize these misunderstandings in order to encourage further potential growth in the extractive industry.”
The Pacific Symposium is attended by senior government officials from Cook Islands; Fiji; Papua New Guinea (PNG), including the Autonomous Region of Bougainville; Solomon Islands; Tonga; Vanuatu; Timor-Leste; and Nauru as well as by representatives from extractive industry firms already operating in the Pacific, regional agencies and non-government organisations.
The “Pacific Symposium on Managing Extractive Industries in Pacific Island States to Improve Human Development,” attended by more than 60 participants is a follow up to an international meeting held in Mongolia in 2011 in which representatives from Fiji, Papua New Guinea and Timor Leste participated.
The Pacific Symposium agenda features some of the key issues that were discussed in Mongolia, such as, spending and investment policies; revenue management systems; conflict prevention; governance arrangements, environmental impacts; and managing the so-called Dutch Disease.
A series of panel presentations, case studies, problem solving discussions and question and answer sessions form part of the three day Symposium, which concludes on Wednesday.
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