United States Trade Representatives, Ambassador Robert Lighthizer,
US Ambassador to Fiji, H.E Joseph Cella,
Permanent Secretary for Commerce, Trade, Tourism and Transport, Shaheen Ali,
Senior Trade Officials,
Excellencies, Ladies and Gentlemen,
Bula Vinaka and a very good morning to you all, and a very good afternoon to Ambassador Lighthizer.
I am pleased to welcome you all to the virtual signing of the Trade and Investment Framework Agreement (TIFA) between the United States of America (USA) and Fiji.
With the adversities created by the COVID-19 pandemic, virtual events have become a new norm. Hence, signing the TIFA virtually is an innovative and positive step towards maximizing opportunities.
Excellencies, Ladies and Gentlemen,
The signing of the TIFA marks an important milestone in the long-standing and multi-faceted partnership between Fiji and the United States. Our two countries enjoy strong bilateral trade and investment flows, with US being Fiji’s largest trading partner.
Trade flows between Fiji and the US have grown steadily over the years. Fiji’s exports grew from $253.3 million in 2014, to $486.8 million in 2019, representing a growth of 92%. Two-way trade between Fiji and the US in 2019, was worth $658 million.
Similarly, US investors have invested millions in our tourism, financial and real estate sectors, creating thousands of jobs locally. Our tourism industry has also benefited from US visitors, with 96,968 visitors arriving from the US in 2019.
Excellencies, Ladies and Gentlemen,
I am pleased that the US Embassy has been working proactively in tandem with the Fijian Government, through conducting a series of stakeholder engagements and workshops for businesses, to create awareness and establish connections.
The TIFA builds on this foundation to enhance economic opportunities for a sustainable and inclusive development.
It will provide a strategic framework and principles for dialogue on trade and investment issues, with an objective to increase trade and investment opportunities between Fiji and the US.
It will be an avenue to strengthen cooperation, facilitate market access of goods, catalyze business to business linkages and strengthen the capacities in the areas of trade and investment.
Fiji has been part of the US Generalised System of Preference, which has enabled Fijian exporters to obtain duty-free entry of eligible products into the US market. We envisage the TIFA to become a foundation to commencing discussions on a US-Fiji Trade Agreement, which would offer predictability in terms of business planning, investments and further re-investments by the private sector.
Excellencies, Ladies and Gentlemen,
The Agreement we will be signing today, sends a strong signal by both parties of mutual interest in deepening our economic ties. However, collaboration between Fiji and the US extends beyond the economic sphere.
I am confident that the friendship between our two countries will grow from strength-to-strength, and that this Agreement will be a bridge to promote greater economic relations, through trade and investment. This will take our economic relations yet another significant step forward.
I wish to congratulate Ambassador Lighthizer and our trade officials, in making todays eventful day possible.
Now, without further ado, I would like to invite Ambassador Lighthizer to join me in signing the US–Fiji Trade and Investment Framework Agreement.
Vinaka Vakalevu. Thank you very much.