Pacific Economic Monitor - July 2017 | Asian Development Bank

Pacific Economic Monitor - July 2017

Publication | July 2017
Pacific Economic Monitor - July 2017

To help overcome remoteness, Pacific economies are looking to improve economic integration not only through ICT and transport network investments, but also by promoting greater competition and private investment.

Enhancing connectivity is crucial to the Pacific and its people, who constantly contend with the challenges of geographic isolation and remoteness. Physical connectivity through air and maritime links brings people, goods, and services to and from the Pacific while digital connectivity through information and communication technology (ICT) integrates the region with the rest of the world. This section tackles Pacific developing member countries’ efforts to enhance connectivity by expanding internet and other ICT connections, improving and maintaining transport networks, and strengthening investment facilitation. Ultimately, the goal of connectivity is to link Pacific peoples with each other, and enable them to access goods and important social services, as well as economic opportunities, locally and globally.

Highlights

  • Uneven commodity price trends amid global economic uncertainties. Although growth in the world economy is seen to accelerate through 2017 and 2018, potential shifts in trade policies of some advanced economies underpin a more guarded outlook. Price prospects for Pacific exports are mixed, while inbound tourism appears to be slowing.
  • Enhancing connectivity. To help overcome remoteness, Pacific economies are looking to improve economic integration not only through ICT and transport network investments, but also by promoting greater competition and private investment. Enhanced connectivity, in turn, should translate to more inclusive economic opportunities and access to basic services.
  • Strengthening transport and trade links. With populations dispersed across a vast ocean, efficient transport of passengers and cargo has been a constant challenge in the Pacific. The policy briefs in this issue discuss the importance of sound trade policy, innovative service delivery, and sustainable infrastructure in boosting international as well as interisland flows.

Policy Briefs

Geographic remoteness and dispersion present perennial challenges to the efficient transport of people and goods across the Pacific. Among island economies separated by a vast ocean, maritime transport and trade are crucial to strengthening linkages within countries and islands, as well as with the rest of the global community. More efficient maritime transport requires investments in both physical infrastructure such as ports, connector roads, and harbor facilities, and soft infrastructure such as trade policy and customs reforms.

The policy briefs featured in this issue discuss the importance of sound policies, innovative service delivery, and sustainable infrastructure investments in enhancing connectivity in the Pacific.

  • Timor-Leste: Improving connectivity through trade policy
  • Pushing the boat out: Franchise shipping schemes in the Pacific
  • Sustainable and climate-resilient connectivity for Nauru

About the Pacific Economic Monitor

The Pacific Economic Monitor provides an update of developments in Pacific economies and explores topical policy issues. This bi-annual publication is produced by ADB with contributions from development partners and knowledge organizations engaged in economic analysis of the Pacific.

Contents 

  • Highlights
  • The economic setting
  • Country economic updates
  • Policy briefs 
    • Timor-Leste: Improving connectivity through trade policy
    • Pushing the boat out: Franchise shipping schemes in the Pacific
    • Sustainable and climate-resilient connectivity for Nauru
  • Special supplement: Improving labor market outcomes in the Pacific: Policy challenges and priorities
  • Economic indicators