A $2 billion investment pipeline is expected to emerge over the next year, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica. During his speech at the opening night of the 2024 Fiji-Australia, Australia-Fiji Business Councils Joint Forum in Suva, Kamikamica shared insights from Investment Fiji, which is part of his ministry, indicating that current investments in Fiji are valued at approximately $6.1 billion. He described this as a strong indication of the economic activity and potential within Fiji.
Kamikamica expressed his expectation that around $2 billion from this pipeline would be realized within the next six to twelve months, which would significantly enhance Fiji’s economic momentum. He emphasized that this data reflects the resilience of the economy, driven by strategic decision-making, investment, political stability, and the commitment of the workforce, especially in light of global uncertainties.
During the event, which attracted over 200 participants, Kamikamica also highlighted one of his ministry’s key initiatives within the Indo Pacific Economic Framework (IPEF), of which Australia is a member. He noted that Fiji is the only Pacific nation involved in this agreement, representing approximately 40 percent of the world’s GDP, population, and historical trade.
Kamikamica discussed the recent signing of an interim Economic Partnership Agreement between Fiji and the European Union, which will help Fiji leverage its global sourcing capacity. He mentioned that companies such as the Pacific Fishing Company (PAFCO), currently operating at around 60 percent capacity, could increase exports to the EU, presenting exciting opportunities at a multilateral level.
He reaffirmed Fiji’s proactive stance in combating harmful subsidies that threaten marine resources, acknowledging the $20 billion of subsidies issued annually. Kamikamica emphasized that such efforts empower the Pacific to manage its oceans, which contain 60 percent of global tuna stocks.
Kamikamica reminded investors of the numerous opportunities available in Fiji as an investment destination, bolstered by international trade agreements that have reinforced Fiji’s competitive position in the global market.