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Koya Calls For Open And Fair International Trade

Open and fair international trade will provide an opportunity for countries to specialise in and reap benefits of economies of scale and industrialisation faster and attract investments. This was the
20 Jul 2016 11:57
Koya Calls For Open And Fair International Trade
From left: Industry, Trade and Tourism Permanent Secretary, Shaheen Ali with Minister Faiyaz Siddiq Koya at the G77 plus China meeting on the margins of the United Nations Conference on Trade and Development (UNCTAD 14) in Nairobi, Kenya.

Open and fair international trade will provide an opportunity for countries to specialise in and reap benefits of economies of scale and industrialisation faster and attract investments.

This was the message by Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya this week.

He was attending the G77 plus China meeting on the margins of the United Nations Conference on Trade and Development (UNCTAD 14).

He is leading the Fijian delegation to the 14th Meeting of UNCTAD from July 17-22 in Nairobi, Kenya.

“A fair share of global trade will also stimulate job creation and skills improvement, reduce poverty and expand the middle class of our countries,” he said.

“In addition, sustainable industrialisation will also facilitate technology transfer in manufacturing, agriculture and agribusiness, while inserting enterprises into the regional and global value chains.”

 

Tackling the challenges

Mr Koya emphasised the world has just come out of the global financial and economic crisis. This is only to face the challenges that range from climate change to shrinking output and trade in some countries.

“The impact is greater in relative terms for small and vulnerable economies, like Fiji, who are prone to natural disasters and directly face the stark reality of rising sea levels,” he said.

“Vulnerability, either from natural disasters or global economic shocks, does not respect national boundaries.

“This phenomenon goes beyond domestic concerns, such as, paralysing the economic functioning of the affected areas, to cutting connection, trade and transportation links with other countries or islands.

“For the Pacific, there are strong links between economic resilience and climate change resilience.

“This is a prime reason Fiji and others who are directly affected by natural disasters, value greatly the global action on climate change.

“Therefore, there is need for all the countries to continue pushing for global action and political commitment to ensure human and industrial activities in their territories that contribute to climate change are eliminated or at least curtailed to optimal levels.”

Mr Koya said there is need to urgently combine global efforts to address these vulnerabilities and pave the way for a more resilient and inclusive development trajectory.

“However, for regions susceptible to natural disasters, effective implementation of strategies can be achieved if resources are allocated for climate change adaption rather than climate change mitigation,” he said.

The Fijian delegation to UNCTAD 14 also includes the Permanent Secretary for Industry, Trade and Tourism, Shaheen Ali as well as other Ministry officials.

Feedback:  rachnal@fijisun.com.fj



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