Fijian consumers and businesses will now enjoy improved access to high-quality products from European Union (EU) countries. The government has approved the implementation of the Interim Economic Partnership Agreement (IEPA), which eliminates duties on certain goods imported from the EU.
In an official statement, the Cabinet highlighted that this move reflects Fiji’s ongoing commitment to the IEPA, a trade agreement designed to enhance trade and strengthen economic relations between Fiji and the EU.
The statement noted, “Fiji is already benefiting from the IEPA, as it allows duty-free and quota-free access for Fijian exports to the EU market.” This arrangement facilitates Fijian exports by enabling local products to enter EU markets without incurring import taxes.
With the elimination of duties on products from Europe, Fijian consumers and businesses will gain better access to high-quality goods, including advanced technology and machinery, which are expected to enhance the quality and efficiency of production in Fiji.
The Fijian government will also initiate discussions with the EU to explore additional export opportunities, including the activation of the “global sourcing provision” outlined in the IEPA.
Once this provision is activated, Fiji will have the ability to utilize fish caught by foreign fishing vessels, process it domestically, and export it to the EU without incurring import taxes. This development could significantly benefit Fiji’s fishing industry and boost exports.