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Six Purchase Contracts Inked Between China And Fiji Businesses

Six Purchase Contracts worth US$20 million (more than FJ$42m) in trade was signed during the Fiji-China Trade Promotion Symposium yesterday.
25 Oct 2019 13:50
Six Purchase Contracts Inked Between China And Fiji Businesses
Front sitting (from left): Chinatex Corporation Vice-President Li Lingmin with Byron Investment Limited director Fang Fang Jamnadas. From (back left): Embassy of the People’s Republic of China in Fiji Economic and Commercial counselor Li Zhi, Ministry of Industry, Trade and Tourism Permanent Secretary Shaheen Ali, Ministry of Commerce of the People’s Republic of China and Embassy of Peoples Republic of China Deputy Director General Zhang Li, Fiji Commerce and Employers Federation president Sandeep Chauhan during the Fiji-China Trade Promotion Symposium at the Grand Pacific Hotel in Suva on October 24, 2019. Photo: DEPTFO

Six Purchase Contracts worth US$20 million (more than FJ$42m) in trade was signed during the Fiji-China Trade Promotion Symposium yesterday.

This was mainly for purchase of Fijian bottled water, noni juice, beverages and cosmetic products.The symposium brought more than 40 Chinese Business executives at the Grand Pacific Hotel in Suva. It was focused on business-to-business relations in the private sector.

The symposium was jointly organised by the Ministry of Industry, Trade and Tourism (MITT), Ministry of Commerce of the People’s Republic of China and Embassy of People’s Republic of China.

Chinatex Corporation Vice-President Li Lingmin, who signed an Purchase Contracts with Byron Investment Limited director Fang Fang Jamnadas said they came here to buy rum.

Mr Li said through the Purchase Contract under one of their companies trading as Chinatex Raw Materials International Trading Company Limited, said they would become the distributor of Ratu Rum from Paradise Beverages.

This rum, he noted, would be a good commodity for the Chinese market.

“We have secured enough quantity from Fiji to be exported to China.

“This will further improve the China and Fiji trade relations and will boost business to businesses confidence from both countries.

“The Fijian people are very nice and good.”

He said all the commodities secured at the event would satisfy the targeted customers needs.

Ms Jamnadas says she’s excited for the new venture.

Embassy of the People’s Republic of China in Fiji Economic and Commercial counsellor Li Zhi said China is willing to work with Fiji to safeguard the multilateral treaty system, jointly improve the trade and investment and trade facilitation.

“The business community is an important driving force meaning the development of the Fiji -China economic and trade relations.”

Made in Fiji Products are present in China such as Pure Fiji products, Fijian minerals waters to name a few which has been acknowledged by the Chinese customers.

Trade:

Over the past five years, average exports to China totaled $108.6 million, whilst imports averaged $742.7 million.

Total two-way trade between Fiji and China reached its peak in 2018, amounting to $1.05 billion.

A total of 277 Chinese investment projects have been implemented over the last five-years’ worth approximately $2.36 billion.

MITT Permanent Secretary Shaheen Ali said despite current achievements, there is huge potential for further cooperation between the two countries.

“While we are rich in marine, forestry, mineral and tourism resources, China enjoys an edge with its huge consumer market, capital and technology,” Mr Ali said.

“This is confirmation that in order for you to do business in the Pacific, Fiji is where you need to begin and grow your business.

“Doing business in Fiji provides you easy access to over 38 million consumers in the Pacific and Australia and New Zealand.Fiji is the hub of the Pacific, geographically and in terms of transportation, trade, communications and logistics. We are contacted to any part of the Pacific by air and sea.

“In fact, Fiji is the most connected Pacific Island Country to the rest of the world.

“Fiji continuing to develop into a modern, dynamic economy in the midst of sustainable economic growth and infrastructure development,” he said.

Mr Ali highlighted:

-Doing business in Fiji provides you easy access to over 38 million consumers in the Pacific and Australia and New Zealand.

-Fiji strongly believes that its the business communities from both, Fiji and China, who hold the key to unlocking the vast untapped economic potentials.

-Investments by the Chinese in Fiji should be with the vision to be able to supply back to the Chinese market or the region.

He said whilst they have discussions, they should not think of Fiji as a small market.

“But think of the opportunities that is available to access your own market and that of the region.

“This is your opportunity to have robust discussions and develop new and lasting business relations.

“Our role is that of facilitators and creators of the correct environment to help your businesses to grow.

“I wish to re-emphasise that the Ministry, through our Consulate General/Trade Commission in China, will redouble our efforts to enhance the Fiji-China trade and economic relations.

From left: Hua Fei Investment Co (Fiji) Ltd representative Ratu Sikeli Tuinaviti, guest, Embassy of the People’s Republic of China in Fiji Economic and Commercial counsellor Li Zhi, Ministry of Commerce of the People’s Republic of China and Embassy of Peoples Republic of China Deputy Director General Zhang Li, Ministry of Industry, Trade and Tourism Permanent Secretary Shaheen Ali, Consul General and Trade Commissioner Consulate General and Trade Commission of Fiji to China, Yolinda Chan and guest during the Fiji-China Trade Promotion Symposium at the Grand Pacific Hotel in Suva on October 24, 2019. Photo: DEPTFO News

From left: Hua Fei Investment Co (Fiji) Ltd representative Ratu Sikeli Tuinaviti, guest, Embassy of the People’s Republic of China in Fiji Economic and Commercial counsellor Li Zhi, Ministry of Commerce of the People’s Republic of China and Embassy of People’s Republic of China Deputy Director General Zhang Li, Ministry of Industry, Trade and Tourism Permanent Secretary Shaheen Ali, Consul General and Trade Commissioner Consulate General and Trade Commission of Fiji to China, Yolinda Chan and guest during the Fiji-China Trade Promotion Symposium at the Grand Pacific Hotel in Suva on October 24, 2019. Photo: DEPTFO News

Feedback: maraia.vula@fijisun.com.fj


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