Fiji and China have signed a memorandum of understanding (MOU) to strengthen collaboration in the blue economy and promote sustainable development. The government announced that this MOU is part of broader efforts to enhance trade facilitation and cooperation.
The agreement is designed to create a framework for practical cooperation, stimulate new growth opportunities in the blue economy, and encourage high-quality bilateral investments. It aims to build a mutually beneficial partnership that accelerates the implementation of the 2030 Agenda while fostering investment cooperation and sustainable development.
Additionally, the MOU will assist businesses in identifying investment opportunities, developing marine economic cooperation parks, and establishing efficient investment platforms.
The trade-related MOU will create a working group dedicated to improving bilateral trade relations and supporting the Belt and Road Initiative (BRI). This group will be responsible for assessing trade growth, enhancing communication, encouraging business engagement, aiding industry associations, and addressing trade challenges.
The working group will operate under the China-Fiji Trade and Economic Cooperation Commission, conducting regular meetings and establishing mechanisms to resolve trade issues.