The Fiji-New Zealand Business Council is aiming to achieve a significant milestone by reaching $2 billion in trade investment between the two nations by the year 2030. James Trusler, the council’s president, voiced optimism about this ambitious goal, pointing to encouraging growth in trade figures since the target was set last year. This commitment was solidified during a joint trade meeting in Nadi, which was attended by Prime Ministers Sitiveni Rabuka of Fiji and Christopher Luxon of New Zealand.
Trusler highlighted that the previous year’s statistics show strong growth trends, emphasizing the council’s dual focus on exploring new markets while reinforcing existing ones. In particular, the tourism sector is projected to experience substantial growth, alongside emerging opportunities within the aquaculture industry, where smaller cooperatives are beginning to take shape.
Currently, the council boasts over 160 members and is aiming to grow its membership to 200 within the next two months. As the largest business council in Fiji, it continues to underscore its commitment to supporting its members actively.
Recent data indicates that trade relations between Fiji and New Zealand are thriving, with figures reaching NZD 1.38 billion, approximately FJD 1.89 billion, as of September 2023. New Zealand’s exports to Fiji were valued at NZD 841.92 million, while Fiji sent exports worth NZD 533.39 million to New Zealand. This upward trend signals a mutual dedication to enhancing economic collaboration through shared goals and strategic partnerships.
Moreover, the tourism sector plays a crucial role in the relationship, with Fiji welcoming nearly 71,000 tourists in January 2024, including many from New Zealand. This influx not only strengthens cultural ties but also reinforces the economic partnership between the two countries.
With these strategic initiatives and a strong commitment to collaboration, there is a hopeful outlook for continued growth and diversification in the economic relationship between Fiji and New Zealand. This cooperation could lead to broader opportunities across various sectors, ultimately benefiting both nations.
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