The Commonwealth Plan of Action on investment was officially launched during the Finance and Investment for Resilient Growth event at the 2024 Commonwealth Heads of Government Meeting in Apia, Samoa.
Prime Minister Sitiveni Rabuka highlighted Fiji’s important role in directing investment where it is most needed and fostering increased investment among Commonwealth nations. As a participant in the Commonwealth Working Group on Trade and Investment, Fiji is working on a concessional framework intended to stimulate investment in non-traditional sectors.
Rabuka noted that the Plan of Action is consistent with Fiji’s national trade and investment policies and aligns with the region’s emphasis on Resource and Economic Development as outlined in the 2050 Strategy for a Blue Pacific. He also mentioned efforts to develop a Kava Strategy aimed at exporting Kava to non-preferential markets and referenced the completion of Fiji’s 4th World Trade Organization (WTO) Trade Policy Review in 2023, which underscored the country’s commitment to meeting WTO obligations.
Further, Rabuka stated that Fiji has met most of its commitments under the WTO Trade Facilitation Agreement through customs modernization and efforts to lower the average applied tariff rate during the review period. He expressed anticipation for ongoing collaboration and supported the creation of a “Commonwealth Investment Network” that embodies the principles of the Sustainable Markets Initiative (SMI) as a cooperative platform.
The Plan of Action stems from discussions at the 2023 Commonwealth Trade Ministers Meeting and represents Fiji’s collective strategy to address global economic challenges.
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