A $2 billion investment pipeline is expected to emerge within the next year, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica. During his welcome address at the opening night of the 2024 Fiji-Australia, Australia-Fiji Business Councils Joint Forum in Suva, Mr. Kamikamica shared insights from Investment Fiji, stating that the total investments in Fiji currently amount to approximately $6.1 billion, indicating robust economic activity and significant potential in the region.
He anticipates that approximately $2 billion from this pipeline could be realized in the next six to twelve months, which would greatly enhance Fiji’s economic momentum. Mr. Kamikamica emphasized that this data reflects the resilience of the economy, supported by sound strategic decisions, political stability, and the commitment of the workforce in navigating global uncertainties.
Mr. Kamikamica highlighted the confidence investors have in Fiji’s long-term potential and the collective efforts to sustain its development path. He also discussed one of his Ministry’s significant engagements in the Indo-Pacific Economic Framework (IPEF), which includes Australia. Fiji is the only Pacific nation participating in this agreement, representing 40 percent of the world’s GDP and population, as well as one-third of historical trade.
The Minister expressed optimism that IPEF would open more economic and investment opportunities for Fiji. He also referenced the recent signing of an interim Economic Partnership Agreement between Fiji and the European Union, which is expected to enable firms like the government-owned Pacific Fishing Company (PAFCO) to increase exports to the EU.
Additionally, Mr. Kamikamica stressed Fiji’s proactive stance in addressing harmful subsidies that deplete ocean resources, asserting the importance of Pacific nations taking control of their oceans, which contain a substantial portion of the world’s tuna stocks. He underscored the advantages Fiji presents as an investment destination, particularly through its involvement in international trade agreements that enhance its competitiveness in the global market.