The memorandum of understanding (MOU) between Fiji and China is set to enhance collaboration in the blue economy and promote sustainable development efforts.
According to a statement from the Government, this MOU is designed to advance Trade Facilitation and Cooperation, along with deepening cooperation in the blue economy and sustainability initiatives.
The MOU establishes a framework to improve practical cooperation, stimulate new growth in the blue economy, and encourage high-quality bilateral investments. It emphasizes the importance of creating a partnership that benefits both nations by accelerating the goals outlined in the 2030 Agenda and enhancing investment cooperation focused on sustainability.
Additionally, the agreement supports businesses in identifying investment opportunities, creating marine economic cooperation zones, and developing effective investment platforms.
The trade MOU will also form a working group dedicated to strengthening bilateral trade relations and supporting the Belt and Road Initiative (BRI). This group’s responsibilities include promoting trade growth, enhancing communication strategies, encouraging business participation, assisting industry associations, and tackling trade-related issues.
Operations for this working group will fall under the China-Fiji Trade and Economic Cooperation Commission, which will hold regular meetings and establish procedures for resolving trade disruptions.