Fiji in the market for a better trade deal with New Zealand & More News Here

Fiji is in search of to enhance trade relations with New Zealand after Prime Minister Jacinda Ardern secured a historic free trade deal with the European Union this week which can see NZ exports rise by $1.8 billion a yr.

The Fijian authorities stated trade of products with New Zealand had declined by 9.3%, falling to $735 million in 2021 due to Covid-19.

Prior to the pandemic, two-way trade was value $812m, Fiji’s Trade Minister Faiyaz Koya stated. In 2018, it was $1.17b.

Koya stated that 6.5% of Fiji exports go to New Zealand ($162m), largely underpinned by recent produce, pharmaceutical merchandise, textile clothes, taro and kava.

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China had deliberate to develop safety and financial co-operation, with Foreign Affairs Minister Wang Yi visiting 10 Pacific nations final month. New Zealand, Australia and the United States known as Wang’s tour a thinly veiled effort to lock the Pacific Island nations into “Beijing’s orbit”.

China managed to persuade the Solomon Islands with a safety deal, however has since eliminated contentious facets of its broader financial and defence settlement for the Pacific.

According to New Zealand’s Ministry for Foreign Affairs, Fiji is NZ’s largest Pacific buying and selling associate, and the solely nation in the area to rank amongst Aotearoa’s high 20 buying and selling companions.

Addressing the New Zealand-Fiji Business Council assembly in Nadi this week, Fijian President Ratu Wiliame Katonivere stated greater than 5000 firms have recorded trade with New Zealand in the previous 5 years.

He stated there was a possibility for the two nations to develop into new, profitable crops and discover methods to value-add to the prime quality agricultural items that Fijian farmers produce.

Ratu Wiliame is looking on New Zealand to assist tasks that may help farmers in Fiji with technical experience and export advertising assets.

The NZ-Fiji Business Council was established in 1987 and has greater than 200 members.

The five-day assembly had generated a lot of consideration from potential New Zealand traders, which might contribute in the direction of the Fijian economic system and create new job alternatives post-pandemic, Ratu Wiliame stated.

“The council, true to its purpose to promote friendship, goodwill and understanding between the business communities, continues to facilitate business relationships as well as people-to-people interactions to stimulate domestic and international trade.”

More than 30 delegates from Aotearoa explored Fiji’s funding and trade surroundings throughout the occasion, by way of B2B engagements, native firms and varied authorities our bodies.

Business council president Chandar Sen stated the Trade and Recovery New Zealand Business delegation acquired honest information of the processes concerned in organising enterprise in Fiji.

“Fiji has a lot to offer, especially post-pandemic, and this mission was the perfect opportunity to showcase the potential to New Zealand businesses.”

The business council meeting also allowed Investment Fiji to forge greater ties with New Zealand in planning future projects, Sen said.

Investment Fiji chief executive Kamal Chetty said, despite the economic challenges, there is still a lot of interest in Fiji’s overall investment environment.

“There had been a lot of inquiries about the processes concerned in organising a enterprise in Fiji and a lot of avid potential traders who’re eager to take a position in Fiji,” he stated.

“A total of 90 B2B meetings took place in which these delegates were able to build connections and possibly find new clients and/or potential co-operation partners.”

Chetty said there was a lot of excitement since the reopening of Fiji’s international borders in December.

New Zealand was Fiji’s second-largest tourist market pre-Covid, with more than 200,000 Kiwis visiting Fiji in 2019, Koya said.

“Visitor arrivals from NZ had declined by 97.9% to 532 visitors in 2020, and tourism earnings declined by 91.22% to $0.4 million, respectively,” he said.

Since New Zealand reopened its borders in April this year, 19,169 Kiwis have travelled to Fiji.

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