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Koya: Fiji,China Trade Flows Flourishing

Trade flows between Fiji and China have been flourishing in recent years, says Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya. “The total trade value between two countries grew
02 Jun 2015 11:30
Koya: Fiji,China Trade Flows Flourishing
Suva City Council Special Administrator, Chandu Umaria (right), signs a memorandum of understanding yesterday. Photo: RAMA

Trade flows between Fiji and China have been flourishing in recent years, says Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya.

“The total trade value between two countries grew from FJ$224 million in 2010 to FJ$990 million in 2014, representing an increase of approximately 342 per cent,” he said.

This increase was attributed to imports from China.

He made these comments during the Fiji-China (Guangdong) Economic and Trade Cooperation Conference held at the Grand Pacific Hotel in Suva yesterday.

Mr Koya said interestingly, trade between Fiji and Guangdong accounted for 25 per cent of total trade between Fiji and China, FJ$247.5million.

He further said the tourist numbers from China have increased sevenfold from 4,087 in 2009 to 28,333 visitors in 2014.

This year was showing an increase of 34 per cent compared for the same period last year.

Mr Koya said there is a potential for more tourism from Guangdong Province.

“It has been recorded that over eight million residents of Guangdong have travelled overseas last year alone,” he said.

“Hence, the representatives from the Fijian and Guangdong business communities need to explore opportunities between our two nations in terms of trade, investment and tourism.”

Meanwhile, Mr Koya stressed Foreign Direct Investment as a significant connection between China and Fiji.

“A total of 198 Chinese projects were registered for the period 2010 to 2014 with a total worth of approximately FJ$1.1 billion,” he said.

“Total registered Foreign Direct Investment projects in 2014 were about FJ$500 million, of which about 50 per cent were Chinese projects.”

Feedback: rachael.nath@fijisun.com.fj

 

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