The Commonwealth Plan of Action on investment was officially introduced at the Finance and Investment for Resilient Growth event during the 2024 Commonwealth Heads of Government Meeting in Apia, Samoa.
Prime Minister Sitiveni Rabuka highlighted Fiji’s crucial role in mobilizing investment in areas where it is most needed and enhancing investment opportunities among Commonwealth nations.
As a member of the Commonwealth Working Group on Trade and Investment, Fiji is working on a concessional framework designed to promote investment in non-traditional sectors. Rabuka noted that this Plan of Action is in line with Fiji’s national trade and investment policies and contributes to the region’s Resource and Economic Development strategy outlined in the 2050 Strategy for a Blue Pacific.
Furthermore, he mentioned that Fiji is part of regional initiatives aimed at developing a Kava Strategy to facilitate the export of Kava to non-preferential markets. Fiji also completed its 4th World Trade Organization (WTO) Trade Policy Review in 2023, where the country reaffirmed its commitment to WTO obligations.
Rabuka stated that Fiji has largely achieved its implementation commitments under the WTO Trade Facilitation Agreement through customs modernization reforms and efforts to lower the average applied tariff rate during the review period.
He expressed optimism about ongoing collaboration and engagement, supporting the creation of a “Commonwealth Investment Network” that embodies the principles of the Sustainable Markets Initiative (SMI) as a collaborative platform for cooperation.
This Plan of Action is a product of the 2023 Commonwealth Trade Ministers Meeting and reflects Fiji’s collective response to ongoing global economic challenges.
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