SUNBIZ

Maritime Contributes $25m In Remittances

Approximately 90 per cent of Fiji’s trade is through the maritime transport, according to the Minister for Infrastructure and Transport, Parveen Kumar. As a result Fiji’s international and domestic trade
30 Sep 2015 10:07
Maritime Contributes $25m In Remittances

Approximately 90 per cent of Fiji’s trade is through the maritime transport, according to the Minister for Infrastructure and Transport, Parveen Kumar.

As a result Fiji’s international and domestic trade is heavily reliant on the maritime industry.

The Minister said stakeholders in the maritime industry are critical enablers to the growth of the Fijian economy.

Mr Kumar said the success of the industry is dependent on individual and collective efforts – thus the need for all stakeholders to work together to steer the industry forward.

The industry, he says, has helped the island nation’s economy grow– as provided by the recent announcement by the Bureau of Statistics of a 5.3 per cent economic growth for 2014. Mr Kumar explained that this is encouraging and augurs well for the country’s future.

“The transport sector contribution of 1.9 per cent to this annual economic growth of 2014 is commendable and a challenge for the sector to improve further on this statistic,” he said.

“In addition to this, remittance from Fijians working abroad contributes significantly to the economy.”

Mr Kumar said this includes the maritime industry, particularly seafarers who ply their trade abroad.

He said the Reserve Bank of Fiji had indicated that remittance contribution to the national economy is $383.2 million of which $25million is from the maritime sector.

This excludes the indirect contributions the maritime industry has upon other sectors of our economy, particularly tourism.

Feedback: caroliner@fijisun.com.fj

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