The Commonwealth Plan of Action on investment was unveiled during the Finance and Investment for Resilient Growth event at the 2024 Commonwealth Heads of Government Meeting held in Apia, Samoa.
Prime Minister Sitiveni Rabuka highlighted Fiji’s crucial role in directing investments to areas where they are most needed and enhancing investment opportunities within Commonwealth nations. Rabuka noted that as part of the Commonwealth Working Group on Trade and Investment, Fiji is working on a concessional framework aimed at promoting investment in emerging sectors.
He stated, “The Plan of Action aligns with Fiji’s national trade and investment strategies and supports the region’s Resource and Economic Development goals outlined in the 2050 Strategy for a Blue Pacific.”
Additionally, Rabuka mentioned that Fiji is participating in efforts to create a Kava Strategy aimed at exporting Kava to non-preferential markets and that it recently completed its fourth Trade Policy Review with the World Trade Organization (WTO), reaffirming its commitment to WTO obligations.
He pointed out that Fiji has met many of its commitments under the WTO Trade Facilitation Agreement by modernizing customs processes and reducing the average applied tariff rate throughout the review timeframe.
Rabuka expressed Fiji’s eagerness to continue collaborating and engaging, emphasizing support for the creation of a “Commonwealth Investment Network” that embodies the principles of the Sustainable Markets Initiative (SMI) as a collaborative platform.
The Plan of Action is a direct result of the 2023 Commonwealth Trade Ministers Meeting and is part of Fiji’s strategic response to prevailing global economic challenges.
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