Palau, represented by President Johnson Toribiong himself is now in Abu Dhabi to ask for discussion among the rich Arab states on private investment.
“While many of us rely on development assistance, including my country, which is critical, our vision for the future is above and beyond aid. Rather, we seek real economic opportunities to support our development and participation in the global economy. We face considerable challenges attracting foreign direct investment, given our remoteness and small size,” the president said in his remarks yesterday during the first ever Pacific-Arab summit.
The president said the “Arab world is the cradle of the world’s prominent religions and now is an indispensable participant in the global economy.”
He stated that this is a historic summit between the Pacific region and the Arab world.
At the same time, Palau is also seeking assistance in the establishment of a renewable energy project to avoid heavy reliance on imported fossil fuels to meet energy demands of the country at a very high cost.
“We spend an unsustainable amount of our budgets on fossil fuel, seriously limiting our ability to provide adequate healthcare and education for our people,” the president stated.
“Our Pacific island countries are increasingly committed to the development of renewable energy. The promotion and utilization of alternative sources of energy will not only provide inexpensive and sustainable sources of energy for us, but will mitigate the threat of global warming by reducing green-house emissions,” the president noted.
UAE Foreign Minister Sheikh Abdullah Bin Zayed Al-Nahyan had invited foreign ministers and/or representatives of more than 30 Arab and Pacific states to the summit.
The Arab nations have invited at least eight countries in the Pacific to discuss issues such as renewal energy, investment and the Israeli-Palestinian conflict.
The summit was held in Abu Dhabi, the capital of the United Arab Emirates.
The meeting was between the League of Arab States and the Pacific such as Solomon Islands, Samoa, Palau, Nauru, Tuvalu, Fiji, Micronesia and Marshall Islands.
Last year, the UAE launched the Pacific Islands Partnership Programme to build and strengthen its relations with the Pacific.
The Partnership programme has been designed to facilitate meaningful cooperation between UAE and the Pacific.
The meeting is the culmination of efforts being made by the UAE to facilitate cooperation between Arab countries and the Pacific nations.
In February of this year, the Sheikh toured the South Pacific region in February this year.
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