On May 7th 2015, the Prime Minister, Rui Maria de Araújo, officially inaugurated the conference of the Regional Initiative of the Pacific Islands in Hotel Novo Turismo, in Díli,
The Pacific Islands Regional Initiative (PIRI) is a very important mechanism for the Pacific Islands to be able to exchange knowledge and elevate the level of the commitment so that to create and promote necessary conditions for the financial maturity of those islands countries.
This high level meeting had the participation of Presidents and representatives of the Central Banks of Fiji, Salomon Islands, Papua New-Guinea, Tonga and Vanuatu as well as from the Central Bank of Timor-Leste.
”In Timor-Leste we are striving to achieve balanced growth, reduce poverty and create jobs” stated the Prime Minister on his opening speech. ”To do this we have set a framework for action in our Government Program that was endorsed by the National Parliament at the end of March. This Program is underpinned by our long term Strategic Development Plan 2011-2030.”
The Prime Minister pointed out that the Timorese society is still geographically isolated, making it difficult to access to basic financial services: ”This is why we must view access to basic banking services as an important part of social justice by providing the disadvantaged with the opportunity and the freedom to pursue a better future. ”
The Head of the Government noted that some Pacific nations have had success with innovative programs to expand inclusive banking and Timor-Leste looks forward to hearing about their experiences and learning from their achievements and successes.
On the same occasion, the Prime Minister also stressed that in providing inclusive banking there is also the need to protect against some risks. It is the role of the Timorese State to design financial regulatory frameworks that minimise the risk of abuse, including corruption, money laundering and the financing of crime and terrorism.
The Prime Minister wished success for the work of the conference, hoping that the nations of the Pacific region gathered here would be able to devise a cooperation strategy to implement and make financial inclusion a reality.