The Fiji Cabinet has endorsed the implementation of the Interim Economic Partnership Agreement (IEPA), which includes the elimination of duties on specific goods imported from European Union countries. This decision aligns with Fiji’s commitment to the IEPA, a trade initiative designed to enhance trade relations and economic collaboration between Fiji and the EU.
Fiji is already experiencing advantages from the IEPA, which grants duty-free and quota-free access for Fijian exports to the EU market. This arrangement facilitates the export of Fijian products to EU markets without incurring import taxes, thereby boosting the nation’s exports.
The removal of duties on European goods is expected to provide Fijian consumers and businesses with improved access to high-quality products from the EU, including advanced technologies and machinery. This access is anticipated to enhance the quality and efficiency of production within Fiji.
Fiji plans to engage in discussions with the EU to investigate additional export opportunities, particularly the implementation of the “global sourcing provision” under the IEPA. Activating this provision will enable Fiji to utilize fish from foreign fishing vessels, process it domestically, and export it to the EU without import taxes, which could significantly benefit Fiji’s fishing sector and increase exports.