Part II

Sustainable development and commercial opportunities

Although Pacific island countries cannot change the physical circumstances of their size, natural resources, remoteness and susceptibility to natural disasters, they can make themselves more resilient to the adverse effects that often flow from these inherent impediments. In order to achieve and sustain economic growth, they must find ways to make better use of their natural resources, develop their skill base, keep the costs of production to a minimum, attract investment, expand their overseas markets, and moderate the devastating effects of cyclones, floods, droughts and other weather extremes.

In Part II of this report, the committee examines the ways in which Pacific island countries are taking 'advantage of their disadvantages'.

The committee starts by examining the responses of Pacific island countries to the main challenges they face in ensuring that their natural resources are managed effectively and competently. The emphasis is on food security, sustainable development and unlocking economic potential. It considers the measures taken by Pacific island countries to develop and, at the same time, protect their natural resources. The committee looks at agriculture, fisheries, forestry and mining including the policies and practices that affect sustainable development and economic growth. It also considers the growing concerns about the effects of climate change on the livelihoods of the people of the Pacific island countries.

The committee then turns to broader management issues. Its main focus is on the economic and financial management in Pacific island countries, and the role of government and its institutions in providing and delivering services essential to economic growth. The key areas under consideration are economic infrastructure, education, training and employment, governance, the regulatory environment for business, land tenure and access to finance.

Alongside this examination, the committee outlines the measures that Australia is taking to assist Pacific island countries address their economic and development problems.

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