The Commonwealth Plan of Action on investment was officially launched at the Finance and Investment for Resilient Growth event during the 2024 Commonwealth Heads of Government Meeting held in Apia, Samoa.
At the event, Prime Minister Sitiveni Rabuka emphasized Fiji’s crucial role in directing investment towards areas of greatest need and enhancing investment opportunities among Commonwealth nations. He highlighted that, as part of the Commonwealth Working Group on Trade and Investment, Fiji is crafting a concessional framework aimed at promoting investment in non-traditional sectors.
Rabuka noted that the Plan of Action is aligned with Fiji’s national trade and investment policies as well as the regional Resource and Economic Development goals outlined in the 2050 Strategy for a Blue Pacific. He also mentioned that Fiji is engaged in regional initiatives to create a Kava Strategy aimed at exporting Kava to non-preferential markets. Additionally, he shared that Fiji completed its fourth World Trade Organization (WTO) Trade Policy Review in 2023, where they received updates on efforts to adhere to WTO commitments.
The Prime Minister explained that Fiji has largely met its obligations under the WTO Trade Facilitation Agreement, thanks to customs modernization reforms and initiatives to lower the average applied tariff rate during the review period. He expressed Fiji’s eagerness for ongoing collaboration and support for the establishment of a “Commonwealth Investment Network,” which aligns with the Sustainable Markets Initiative principles as a collaborative platform.
The Plan of Action emerged from the 2023 Commonwealth Trade Ministers Meeting and forms part of Fiji’s collective strategy to address global economic challenges.
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