The European Union has officially activated the Global Sourcing derogation, enabling processed fishery products from Fiji to enjoy preferential access to the EU market under the Interim Economic Partnership Agreement (IEPA). This significant move follows a request put forward by the Fijian government, which now allows Fiji to source raw fish from a broader spectrum of foreign vessels.
Effective July 31, any processed fishery products made in Fiji from non-originating raw materials that are brought to Fijian ports will qualify as originating products under the IEPA. Consequently, these value-added products can be exported to the EU without incurring customs duties.
Fiji’s Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, expressed his enthusiasm for the development, indicating that it widens export opportunities for Fiji. He emphasized its potential to boost local fish processing operations, generate employment, and foster growth in both the fisheries and manufacturing sectors.
This decision is seen as a transformative milestone for Fiji’s fisheries industry. The global sourcing provision allows for the importation of eligible raw materials from any nation for local processing, enhancing the country’s capability to compete in the international market. Similar initiatives by other Pacific nations, such as Papua New Guinea, serve as a hopeful benchmark for Fiji as it aims to establish itself as a central hub for high-value seafood production.
Overall, the activation holds the promise of creating sustainable economic benefits for Fiji, particularly in its coastal communities that rely on fishing, as the government continues its efforts to leverage trade agreements to promote growth and enhance competitive advantages in global markets.
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