MAJURO, Republic of the Marshall Islands—From 22-25 June 2026, the Federated States of Micronesia (FSM) participated in the 2026 Forum Economic Ministers Meeting held in Majuro, Republic of the Marshall Islands. Guided by the theme, “Economic and Financial Inclusion in the Pacific”, the FEMM brought together regional leaders, ministers, senior officials, development partners, CSOs, and Youth representatives. Discussions focused on advancing regional economic priorities in key sectors – including resource and economic development, climate finance, fisheries, the private sector – against a backdrop of global geopolitical tensions and fuel market volatility. These dialogues aimed to enhance regional coordination under the 2050 Strategy for the Blue Pacific Continent (2050 Strategy) and the Pacific Roadmap for Economic Development (PRED).
During the meeting, Secretary Nakanaga delivered FSM’s national interventions on key regional economic priorities. She reaffirmed FSMs strong support for strengthening regional economic cooperation through mechanisms such as the Regional Response Mechanism, the Pacific Fuel Security Audit, while advocating for greater investment in renewable energy and national fuel security to combat global market instability.
The 2026 FEMM concluded with an enhanced regional commitment by Forum Members who endorsed several initiatives aimed at bolstering economic resilience. Key outcomes included ongoing work on regional fuel and energy security, a phased approach to advance a Regional Fisheries Development Fund, and support for implementation of the Pacific Regional Private Sector Strategy.
On the margins of the FEMM, Secretary Nakanaga met with Pacific Catastrophic Risk Insurance Company (PCRIC). She expressed gratitude for the critical catastrophe risk insurance payout delivered to FSM within hours of Typhoon Sinlaku, noting that this rapid support was vital for initiating recovery efforts in worst affected areas. Discussions also explored potential avenues of insurance support, particularly in anticipation of the impending El-Nino and accompanying droughts.
The FSM also participated as an Observer in the inaugural Pacific Resilience Facility (PRF) Council meeting, marking an important milestone in the operationalization of the Pacific-owned resilience financing mechanism. Upon signing of the PRF Treaty on the margins of last year’s Pacific Islands Forum Leaders Meeting in Honiara in 2025, the FSM continues to progress the treaty through domestic national processes towards official ratification of the treaty. FSM remains committed to collaborating with Forum Members and development partners to advance sustainable, inclusive and resilient economic development for the people of the Federated States of Micronesia and the wider Blue Pacific Continent.
The FSM delegation was led by the Hon. Rose Nakanaga, Secretary of Finance. She was accompanied by Ms. Senny Phillip, Assistant Secretary of Investment & International Finance, Ms. Chandra Legdesog, Deputy Chief of Mission of the FSM Mission in Suva, Fiji and Ms. Caroline Werthog, National Designated Authority (NDA) Coordinator.
