Tuesday, November 28, 2023
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EU remains a vital trading partner: Kamikamica

Deputy Prime Minister and Minister for Trade. Manoa Kamikamica says in 2022 Fiji earned approximately $132.4 million from exports to the European Union Market.

Speaking at the launch of the Fiji-EU Trade and Investment Forum, Kamikamica said that the EU market which accounts for 10 per cent of Fiji’s total exports, stemming from the demand for sugar which constitutes about 81 per cent of the value of all exports commodities there – tuna, ginger and mineral water are amongst the other top export commodities exported to the EU from Fiji.

Kamikamica said the European Union has been a vital trading partner, serving as a destination for high-quality Fiji products and services.

He said despite the impacts of the pandemic, trade between Fiji and the EU exponentially increased in 2022 compared to 2021.

“The increase was driven by the shipment of sugar to the Netherlands and Italy at the value of approximately $106 million.”

He highlighted that Fiji recognises the critical role of investment in driving economic growth – which has been a significant source of foreign direct investment, supporting the growth of Fiji’s industries and infrastructure.

Kamikamica said that the government recognised the critical role of investment in driving economic growth.

He said the EU has been a significant source of foreign direct investment, supporting the growth of Fiji’s industries and infrastructure.

“Fourteen projects have been registered by EU entities and citizens at a total proposed investment of approximately $68 million between 2021 and 2022 – displaying the confidence of foreign businesses to invest in Fiji’s potential.”

“These investments have also benefited our people with employment especially in sectors such as services, tourism, and wholesale and retail to name a few.”

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com
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