Fiji will gradually eliminate duties on certain imports from European Union member states as part of its commitment to fully implement the Interim Economic Partnership Agreement (IEPA), a trade agreement with several Pacific nations.
The announcement was made in Suva by Deputy Prime Minister for Trade, MSME and Communications Manoa Kamikamica, alongside Valdis Dombrovskis, executive vice-president of the European Commission and Commissioner for Trade.
According to the Trade Ministry, the IEPA is designed to enhance bilateral trade and promote sustainable development while integrating Fiji into the global economy. The EU has already removed customs duties and quotas on all imports from Fiji, and now Fiji aims to phase out duties on the designated tariff lines for imports from EU member states, referred to as the committed basket of tariff lines.
However, tariffs will still apply to certain imports to ensure the protection of Fijian food security and the development of local value chains, known as the exclusion basket of tariff lines.
The IEPA is expected to facilitate access to cheaper raw materials for local products and is anticipated to significantly benefit Fiji’s fisheries sector, particularly the tuna industry. The agreement includes a global sourcing provision that allows for improved rules of origin for processed fish products.
This provision enables fish caught by foreign vessels but processed in any Pacific IEPA country to be exported to the EU without duties or quotas, regardless of where the fish was originally caught. Once implemented, these regulations will permit Fiji to export processed fish sourced from approved foreign-flagged vessels to the EU.
Fiji aims to attract more investments to achieve similar successes in fisheries exports to EU member states, following in the footsteps of Papua New Guinea, another IEPA partner.
The IEPA agreement was signed by the EU and Fiji in 2009, with the EU commencing its provisional application immediately. Fiji opted to start applying the agreement in 2014.