29 Oct 2008

Nauru finance minister says collaboration can help mitigate price rises

11:28 am on 29 October 2008

The Finance Minister of Nauru, Dr Kieren Keke, says there is real value in collaboration as island countries try to cope with the impact of high food and fuel prices.

These issues have dominated the Pacific Economic Ministers' Meeting which concludes in Port Vila today.

It is expected that some countries will commit to a Pacific Islands Forum strategy aiming to cut the price countries pay for petroleum by buying in bulk.

Dr Keke says the meeting has seen an exchange of ideas and experiences that is valuable because the small countries are facing huge pressures.

"The impact on our people has been significant, in the last few months in particular, with just general inflation rocketing up. So getting ideas on what we can do to mitigate that and what we can do to make people's money go further, certainly is wothwhile."