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A stronger economic and trade cooperation is among the key priorities pursued by the Fiji-Australia and Australia Business Councils Joint Forum held this week from Thursday 29th to Saturday 31st August 2024, at the Grand Pacific Hotel in Suva.
Today, the Assistant Minister for Foreign Affairs, Hon. Lenora Qereqeretabua was among the key speakers who addressed the Forum based on the theme, “New Challenges and New Solutions.”
The Forum is an opportunity for the government officials, members of the Fiji-Australia and Australia-Fiji Business Councils, business owners, investors and trade officials to explore strategies to boost cooperation in areas such as tourism, investment, business and trade relations between Australia and Fiji.
In her remarks, Hon. Qereqeretabua underscored the importance of such Forums in advancing the economic cooperation through initiating innovative strategies and solutions.
She acknowledged Australia’s pivotal role as Fiji’s largest source of tourism, trade partner and most diverse export destination, and key market for remittances with large investor base.
Further, Hon. Qereqeretabua stated that Fiji’s strategic location as the hub in the Pacific region offers greater access to emerging trade markets with considerable potential for Fiji’s agricultural exports for products such as taro, ginger, kava, mahogany and coconut oil to mention a few.
Hon. Qereqeretabua noted that between August 2023 and January this year, Fiji registered 15 investment projects from Australia mainly in the Information & Communications Technology (ICT), renewable energy and tourism, underscoring the growing economic relations between the two nations.
Further, Hon. Qereqeretabua encouraged the delegates to collaborate on the innovative strategies to address new business challenges and explore adaptative and dynamic economic recovery opportunities.
In closing, the Assistant Minister thanked the Fiji-Australia and Australia Business Councils for convening the Forum to leverage enduring partnerships for stronger economic and trade relations.
The Forum reflected on the practical implementation of the renewed and elevated Vuvale Partnership which was signed by the Prime Minister Hon. Sitiveni Rabuka and the Australian Prime Minister, Hon. Anthony Albanese in October last year. The Partnership, focuses on three (3) priorities of Fiji’s foreign policy which includes sovereignty, security and prosperity, and fosters cooperation across various sectors including infrastructure, economic development, climate resilience and cultural exchange.
The Forum marks a significant step in the joint efforts by both the nations to further enhance Fiji-Australia bilateral relations and bonds of friendship through the renewed and elevated Vuvale Partnership.
