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Exports Up, Reach $2.2bn in 2014

Fijians exports grew by 11.5 per cent the past year amounting to $2.2 billion compared to a four per cent decline in 2013. This was revealed by the Minister for
25 Aug 2015 11:08
Exports Up, Reach $2.2bn in 2014

Fijians exports grew by 11.5 per cent the past year amounting to $2.2 billion compared to a four per cent decline in 2013.

This was revealed by the Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya, in Parliament yesterday.

He said this increase was because of higher growth in re-export and domestic goods.

Mr Koya highlighted the figures following a question from the Opposition on the National Trade Policy Framework.

“As a per cent of GDP, total exports, excluding aircraft, grew to about 28.5 per cent in the review period compared to 27.8 per cent in 2013,” he said.

“The average of the past five years as a per cent of GDP is about 29 per cent.”

He said the following markets have emerged as key top markets for exports.

The USA accounts for 16 per cent of exports, Australia 15 per cent, UK 11 per cent, China eight per cent and New Zealand six per cent of exports.

Securing markets

Mr Koya highlighted Government is working to securing and maintaining improved market access to the regional and international trade markets for Fiji.

He revealed Government is securing at least one new alternative sugar market by 2016.

In addition, he said they are pushing for the continuation of the US Generalised System of Preferences (GSP) and increasing Fijian goods under that scheme.

“We are also negotiating long-term and a sustainable preferential access scheme with USA by 2025,” Mr Koya said.

And in addition to a number of other trade agreement negotiations, Mr Koya said Government is also concluding negotiations with China on preferential market access scheme.

Trade Policy Framework

On the question of the Trade Policy Framework, Mr Koya said it represents our shared interest towards our common goal in improving our performance and enhancing Fiji’s position as a hub of the Pacific.

“It will basically determine how to connect all the dots and address our production capacity and supply-side constraints with the ultimate objective of enhancing Fiji’s position in global trade,” he said.

“It harnesses our opportunities in international trade and it will mean more demand for Fijian grown products and Fijian made goods and services basically.”

He said this will lead to increased investment by private sector and creation of jobs and wealth and standard of living for all Fijians.

Feedback:  rachnal@fijisun.com.fj

 

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