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 in Apia, Samoa. Prime Minister Sitiveni Rabuka emphasized Fiji’s crucial role in directing investment where it is needed most and enhancing investment opportunities among Commonwealth nations.
He noted that Fiji, as a participant in the Commonwealth Working Group on Trade and Investment, is working on a concessional framework to attract investment in non-traditional sectors. “The Plan of Action complements Fiji’s national trade and investment policies as well as the region’s Resource and Economic Development pillar of the 2050 Strategy for a Blue Pacific,” Rabuka stated.
The Prime Minister mentioned Fiji’s involvement in developing a Kava Strategy aimed at exporting Kava to non-preferential markets. He also highlighted that Fiji successfully completed its fourth Trade Policy Review with the World Trade Organization (WTO) in 2023, where it was recognized for its efforts to meet WTO obligations.
Rabuka pointed out that Fiji has made significant progress in fulfilling its commitments under the WTO Trade Facilitation Agreement through reforms in customs modernization and a reduction in the average applied tariff rate during the review period.
He expressed Fiji’s eagerness for ongoing collaboration and endorsed the creation of a “Commonwealth Investment Network” that adheres to the principles of the Sustainable Markets Initiative as a collaborative platform. The Plan of Action is a result of the 2023 Commonwealth Trade Ministers Meeting and represents Fiji’s collective approach to addressing global economic challenges.
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