Fiji has recently engaged in discussions with the European Union (EU) delegation for the Pacific to explore opportunities offered by the Interim Economic Partnership Agreement (IEPA), particularly the Global Sourcing provision. The focus of these discussions revolved around enhancing Fiji’s tuna exports, primarily tuna loins and canned tuna, to the EU market, which aligns with Fiji’s commitment to strengthen its fisheries sector.
A significant aspect of the IEPA’s Global Sourcing provision allows Fiji to import eligible raw materials, such as frozen tuna, from other countries, process them locally, and still benefit from duty-free, quota-free access to the EU market. Shaheen Ali, Fiji’s Permanent Secretary for Trade, emphasized that utilizing the EU’s Global Sourcing mechanism could open up valuable seafood market opportunities and foster local employment, investment, and economic growth, especially in coastal communities.
PAFCO, a major player in Fiji’s tuna processing industry, has expressed its support for this initiative and readiness to comply with EU standards. The EU delegation reaffirmed its commitment to assisting Fiji in enhancing its trade capabilities and promoting sustainable fisheries management.
These developments follow Fiji’s ongoing efforts to deepen trade and economic relations with the EU, previously highlighted in article discussions about the challenges faced under the IEPA, including compliance with the EU’s Green Deal and other regulatory requirements. Fiji aims not only to boost tuna exports but also to address various trade complexities while advocating for sustainable trade practices that could yield long-term benefits for the country.
In essence, Fiji’s active approach to navigating trade opportunities under the IEPA with the EU signifies optimism for future economic resilience and the potential for sustainable growth in its fisheries sector, drawing parallels to successful experiences of other Pacific nations, like Papua New Guinea.
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