Fiji’s Cabinet has approved the implementation of the Interim Economic Partnership Agreement (IEPA) and the elimination of duties on certain goods imported from European Union countries. This decision aligns with Fiji’s commitment to enhancing trade and strengthening economic relations with the EU.
The IEPA already offers significant advantages for Fijian exports, allowing them to access the European market free from duties and quotas. This arrangement is instrumental in promoting Fijian exports, as it enables local products to enter EU markets without incurring import taxes.
The removal of duties on European goods is expected to give Fijian consumers and businesses improved access to high-quality products from the EU, such as advanced technology and machinery, thereby enhancing production quality and efficiency in Fiji.
Additionally, Fiji plans to initiate discussions with the EU to identify further export opportunities, including the activation of the “global sourcing provision” within the IEPA. Once this provision is activated, it will permit Fiji to use fish caught by foreign fishing vessels, process it domestically, and export it to the EU without facing import taxes. This could significantly benefit Fiji’s fishing industry and enhance export potential.