Fiji is set to eliminate duties on certain import tariff lines from European Union member states as part of its commitment to fully implement the Interim Economic Partnership Agreement (IEPA). This trade agreement aims to strengthen relations between the EU and several Pacific nations.
The announcement came from Manoa Kamikamica, Fiji’s Deputy Prime Minister for Trade, MSME, and Communications, along with Valdis Dombrovskis, the executive vice-president of the European Commission and Commissioner for Trade, during a press conference in Suva.
According to the Fijian Trade Ministry, the IEPA facilitates bilateral trade, promoting sustainable development and Fiji’s integration into the global economy. While the EU has already removed customs duties and quotas on all imports from Fiji, the Fijian government has now opted to phase out duties on the committed tariff lines related to EU imports.
Certain tariffs will still be applied to selected imports from the EU to protect Fiji’s food security and nurture the development of domestic value chains. This specific protection mechanism is referred to as the exclusion basket of tariff lines.
The IEPA is also expected to enhance Fiji’s fisheries sector, particularly its tuna industry. Notably, the deal includes provisions for global sourcing, allowing fish caught by foreign vessels but processed in any Pacific IEPA state to be exported to the EU without duties or quotas.
Fiji aims to attract investments to bolster its fisheries exports to EU member states, hoping to replicate the success experienced by Papua New Guinea, another IEPA partner.
The IEPA was signed by the EU and Fiji in 2009, with provisional applications starting immediately for the EU, while Fiji began implementation in 2014.