Fijian consumers and businesses will now enjoy improved access to high-quality products from European Union (EU) nations. The government has approved the implementation of the Interim Economic Partnership Agreement (IEPA), which includes the elimination of duties on various goods imported from EU countries.
According to a statement from the Cabinet, this decision reflects Fiji’s ongoing commitment to the IEPA, a trade initiative designed to enhance trade and solidify economic relationships between Fiji and the EU. The statement highlighted that Fiji is already benefiting from the IEPA, which allows for duty-free and quota-free access for Fijian exports to the EU market.
The arrangement is expected to enhance Fiji’s export capabilities, enabling local products to penetrate EU markets without import taxes. Furthermore, the removal of duties on European imports will provide Fijian consumers and businesses with greater access to high-quality goods from the EU, including advanced technology and machinery that can improve production quality and efficiency in Fiji.
Additionally, Fiji plans to initiate discussions with the EU to investigate new export opportunities, including the activation of the “global sourcing provision” under the IEPA. This provision would permit Fiji to utilize fish caught by foreign vessels, process it locally, and then export it to the EU without incurring import taxes, potentially benefiting Fiji’s fishing industry and increasing exports significantly.