Fiji’s exports to Papua New Guinea (PNG) have demonstrated resilience despite a slight decline in recent years, reaching over FJD $25.3 million (approximately K43.9 million/US$10.93 million) in 2023. Notable items exported include electric conductors, sweet biscuits, and garments, according to Deputy Prime Minister Manoa Kamikamica. During a business forum in Port Moresby, Kamikamica, who also serves as Minister for Trade, emphasized the mutual benefits of the trade relationship, underscoring that Fiji’s imports from PNG also amounted to FJD $7.9 million (about K13.7 million/US$3.41 million) last year.
Kamikamica highlighted the potential for significant growth in trade relationships, fueled by recent initiatives such as the reopening of Fiji’s High Commission in PNG and the revival of the Fiji-PNG Business Council. He expressed commitment to deepening engagement with PNG’s business community, which aligns with the renewed focus on collaboration between the two nations.
Investments from PNG into Fiji have also been notable, with two projects valued at FJD $600,000 (approximately K1.04 million/US$259,521) focused on agriculture and transport sectors. The growing interest in opportunities has been a positive development in fostering economic ties, with initiatives extending into the coffee industry, which involves plans to import coffee beans from PNG.
Fiji’s businesses are also seeing success in PNG, with companies such as Amalgamated Telecom Holdings (ATH) expanding into the ICT market and retail giants like Jacks and Prouds making significant strides in the PNG retail scene. This highlights the demand for quality products and services in PNG, signifying a positive outlook for future collaborations.
In summary, the ongoing efforts to strengthen trade relations between Fiji and PNG reflect both nations’ commitment to enhancing their economic partnership. With optimistic trends for investment and trade, there is potential for further growth that can lead to a mutually beneficial future in the region. Strategies to leverage these opportunities could help both countries foster a more robust economic collaboration, ultimately contributing to regional stability and prosperity.
Leave a comment