Fiji and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) to create the first UAE-Fiji Joint Business Council (UFJBC), aimed at enhancing trade and investment between the two nations. This significant development was announced by Fiji’s Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, who emphasized that this “groundbreaking MoU” marks the beginning of a new chapter in cooperation, focusing on private sector collaboration.
According to Mr. Kamikamica, the formation of the UFJBC is expected to cultivate further investment and trade opportunities in the coming years. Investment Fiji’s CEO, Kamal Chetty, echoed this sentiment, noting that the MoU would fortify economic ties between the two countries. He expressed optimism about the new avenues for Fijian businesses to access the UAE market, while also aiming to attract essential investments to Fiji.
Edward Bernard, CEO of the Fiji Commerce and Employers Federation (FCEF), highlighted that the UFJBC would facilitate initiatives driven by the private sector in vital sectors of both economies. He expressed enthusiasm about collaborating closely with the government and Investment Fiji through the council to build a mutually beneficial relationship promoting growth for both countries.
The MoU was officially signed during the World Governments Summit (WGS) in Dubai, with Mr. Kamikamica, UAE Minister of State for Entrepreneurship Alia Al Mazroei, and Fiji’s ambassador to the UAE, Faizal Koya, present to witness the agreement.
This partnership offers hopeful prospects for economic development, potentially leading to increased trade flows and investment opportunities that could significantly benefit both Fiji and the UAE.
In summary, the establishment of the UFJBC reflects a commitment to closer ties between Fiji and the UAE, promoting a collaborative approach to economic growth and opportunity for businesses in both nations.
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