'MOU Non-Binding': Manoa Kamikamica
“It’s a non-binding MOU, it will just allow the company to make their plans in terms of when they want to come to Fiji.
Friday 16 February 2024 | 19:37
Deputy Prime Minister and Minister for External Trade, Cooperative and SMEs, Manoa Kamikamica.
A Memorandum of Understanding (MOU) between the Fijian Government and Aether Pacific Pharmaceuticals Ltd (APP), operating as Medical Kiwi, is a non-binding agreement aimed at advancing Fiji's medicinal cannabis industry.
The Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, clarified this when Fiji Sun queried how Medical Kiwi, came into the picture when a policy framework was yet to be developed.
He said this MOU would allow Medical Kiwi to conduct market related research and navigate the industry landscape before formalising their presence in the market.
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Medical Kiwi looks to invest a minimum of $65 million within three to five years, subject to the extent permissible by law.
"It sort of helps them with their internal investment processes," Mr Kamikamica said.
"That was something the investor requested, and I needed to make sure that Cabinet was aware of it but it’s not in any way committing the Government or awarding licence for them to come.
“That’s going to be a separate process.” Mr Kamikamica clarified no one was yet awarded as the successful tender.
“We haven’t worked out an expression of interest,” he said.
“At this time, I don’t want to formally mention names. I’d rather the companies do it.”
Deputy Prime Minister and Minister for Trade, Cooperatives, Small and Medium Enterprises and Communications, Manoa Kamikamica.
No exclusive rights
The anticipated medicinal cannabis market will not be focused and controlled via the monopoly approach as the Government will not issue any exclusive rights.
“They (Medical Kiwi) wanted exclusive rights, but I told them we couldn’t do exclusive rights in Fiji because it would not give opportunity to other investors,” Mr Kamikamica said.
Medical Kiwi
The Christchurch, New Zealand -based company cultivates and exports medicinal cannabis and cannabidiol. Chairman Aldo Miccio told Fiji Sun there were ongoing negotiations with the Government.
“Besides the employment opportunities medicinal cannabis products that we sell are for offshore export markets which helps all of Fiji from export dollars and revenue for the government,” Mr Miccio said.
“We have been working with the Government for just over a year now helping support their ambitions to bring the industry to Fiji, we have been working in the early stages now engaging with various government departments as well as other institutions to plan the best approach to establish a framework that can support the growth of the broader botanical medicine industry in Fiji.”
Feedback: jone.salusalu@fijisun.com.fj
