The Commonwealth Plan of Action on investment was introduced at the Finance and Investment for Resilient Growth event during the 2024 Commonwealth Heads of Government Meeting in Apia, Samoa.
In his address, Prime Minister Sitiveni Rabuka highlighted Fiji’s role in facilitating investment where it is most needed and enhancing investment among Commonwealth nations. He noted that Fiji, as a member of the Commonwealth Working Group on Trade and Investment, is working towards a concessional framework aimed at promoting investment in non-traditional sectors.
Rabuka stated, “The Plan of Action aligns with Fiji’s national trade and investment policies and the region’s Resource and Economic Development pillar of the 2050 Strategy for a Blue Pacific.” He also mentioned that Fiji is actively involved in regional initiatives to establish a Kava Strategy for exporting Kava to non-preferential markets and has successfully completed its 4th World Trade Organization (WTO) Trade Policy Review in 2023, highlighting steps taken to meet WTO commitments.
Additionally, he explained that Fiji has largely met 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. Rabuka expressed enthusiasm for ongoing collaboration and the support for a “Commonwealth Investment Network” that embodies the principles of the Sustainable Markets Initiative (SMI) as a shared platform for cooperation.
The Plan of Action is a product of the 2023 Commonwealth Trade Ministers Meeting and serves as part of Fiji’s collective response to global economic challenges.
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