Fiji woos film producers, hospitals. SMEs with tax benefits, incentives
24/10/2024
CHOGM2024 update: Fiji Represented at the Pre-CHOGM Foreign Ministers meeting in Samoa
25/10/2024Published On: 24/10/2024
The new Commonwealth Plan of Action on investment was launched at the Finance and Investment for Resilient Growth event during the 2024 Commonwealth Heads of Government Meeting in Apia, Samoa, today.
Speaking at the event, Prime Minister Hon. Sitiveni Rabuka acknowledged the significance for Fiji in mobilizing investment where it is most needed and facilitating greater investment into and between Commonwealth members.
“As a member of the Commonwealth Working Group on Trade and Investment, Fiji is developing a concessional framework to encourage investment in non-traditional sectors,” PM Rabuka said.
“The Plan of Action aligns with Fiji’s national trade and investment policies and the regions Resource and Economic Development pillar of the 2050 Strategy for a Blue Pacific.”
“Fiji is part of regional efforts to develop a Kava Strategy with the aim of exporting Kava into non-preferential markets and has completed its 4th World Trade Organization (WTO) Trade Policy Review in 2023, where we were informed of efforts to comply with WTO commitments,” he explained.
The head of delegation stated that Fiji had fulfilled most of its implementation commitments under the WTO Trade Facilitation Agreement through its customs modernization reforms and efforts to reduce the average applied tariff rate over the review period.
“Fiji looks forward to our continued collaboration and engagement, and we support the establishment of a “Commonwealth Investment Network” that reflects the principles of the Sustainable Markets Initiative (SMI) as a joint platform for cooperation,” PM Rabuka added.
The Plan of Action is an outcome of the 2023 Commonwealth Trade Ministers Meeting and is part of Fiji’s collective response to the challenges facing the global economy.
