CI Times Weekly | Current Issue 265 | 25 August 2008
Bulk purchase of fuel a cheaper option
Increasing fuel prices is an issue the Forum leaders recognise needs to be dealt with with some urgency. The bulk petroleum procurement initiative proposes to see the region purchasing bulk fuel in an aim to minimise costs to the respective participating countries. Leaders have embraced New Zealands’ offer to fund a meeting of national experts in order to provide relevant advice for the upcoming Economic Ministers’ Forum meeting. The forum chair, Niue Premier, Hon. Toke Talagi said,
“This was one of the very important measures that we needed to take account of and to determine how we can best assist the small island countries and the forum island countries generally overcome the problems that we’re facing with respect to fuel prices”.
Last year Sir Terepai Maoate, Minister of Finance and Economic Management, attended the meeting in Palau. Discussions explored the idea of centralising fuel for the region in Fiji. Given the Forums communiqué regarding Fiji, this may pose some problems. The chair reiterates that this was never a hard and fast option;
“The idea of the meeting of the national experts is to determine exactly what shoud be done to ensure that in fact it will speed up the process for bulk purchasing and give direct benefits to the countries now rather than wait. So that the reasons why the meeting was proposed as soon as possible before October which is when the economic ministers will meet and hopefully they will have resolutions that the Economic ministers will take and take appropriate actions as required”.
Leaders have requested that Pacific Energy Ministers take further stock of the progress made at their meeting in April 2009, with a view to a finalised package of measures to be adopted at the next Forum Leaders meeting in Australia later next year. The leaders have also called upon the support and assistance of the World Bank and other organisations at a regional and national level.
