Parliamentary Vice Minister for Foreign Affairs of Japan, Hon. Norihiro Nakayama
Ambassador of Japan H.E. Mr. Masahiro Omura;
Ambassador of Fiji to Japan H.E Mr. Isikeli Mataitoga;
Permanent Secretary for Industry, Trade and Tourism Mr. Shaheen Ali;
Distinguished Members of Japanese Delegation and Members of Fijian Private Sector;
Ladies and Gentlemen.
Bula Vinaka, Ohayō gozaimasu and a very good morning to you all.
It is my pleasure to welcome you all to the 2020 Fiji-Japan Trade and Investment Symposium.
I extend a special welcome on behalf of the Fijian Government, to the Vice Minister for Foreign Affairs of Japan and the Japanese delegation to Fiji.
We are delighted to partner with the Japanese Government and Pacific Investment Center for this 2nd Trade and Investment Mission to Fiji. I hope you will enjoy our Fijian hospitality during your stay in Fiji, as well as achieve the objectives of your visit.
Following the inaugural Symposium in 2018, today’s event marks another important milestone in the 50 years of growing trade and economic relations between Fiji and Japan.
Ladies and Gentlemen,
I am sure you will make use of this opportunity today to widen your network, create new relationships and establish wider objectives in fulfilling your business aspirations
You will get an opportunity to gather and ascertain necessary information required to understand the Fijian business climate, investment incentives, reforms and the Fijian Government’s development aspirations.
Ladies and Gentlemen,
At this juncture, I wish to reiterate that Fiji and Japan share many economic, cultural and geographical interests, making a strong basis for enhanced trade and investment relations.
Two-way trade between Fiji and Japan in 2018, was approximately $428.2 million, out of which Fijian exports to Japan was valued at $161.5 million, and imports were around $266.6 million, resulting in trade deficit of $105.1m. From Fiji’s perspective we need to increase our exports.
Thus, events such as this Trade and Investment Mission, forms a foundation for us to move towards elimination of this trade gap
So today, I would urge our private sector to network and discuss how this could be done. It will also be in our interest to source investments from Japan either through joint ventures or entirely through foreign direct investment. Our experts, no doubt, will highlight the potentials that Fiji has in terms of exportable products and areas where investment is welcomed.
Ladies and Gentlemen,
Our bilateral links extend to development and education assistance, increase in people-to-people links and of course at the diplomatic level.
We have also seen a steady stream of senior-level visits by both countries, including the recent State visit by our Prime Minister and his participation at the PALM 8 Meeting in 2018. These visits set a positive tone for the future of the relationship.
Furthermore, we must also acknowledge that Fiji and Japan’s shared interests spread beyond bilateral trade and investment, and includes regional and global issues, such as technological enhancement, culture, climate change, sustainable development, to name a few.
Ladies and Gentlemen,
The on-going pro-growth, pro-investment and business friendly policies of the Fijian Government includes the review and modernisation of the investment legal framework, development of online system for applications and approvals, continued modernisation of investment incentives and the establishment of Special Economic Zones.
Along with the policy reforms, the Fijian Government is also proficient in upgrading our national infrastructure to a new climate resilient standard, along development of access roads, bridges and ports for increased access to markets. Essential services like water, electricity, telecommunications and internet are now accessible throughout Fiji.
Ladies and Gentlemen,
Japanese investments in Fiji over the past 5 years has totaled approximately $4.5 million. We strongly believe there is potential to increase this further, especially with the resumption of the direct flights between Fiji and Japan.
Therefore, we invite more Japanese investors to consider outsourcing their business processing to Fiji and take advantage of our infrastructure and talented workforce.
I encourage the Japanese entrepreneurs to explore investment opportunities in sectors such as light and green manufacturing, commercial agriculture, tourism, ICT, BPOs, amongst other areas you may have in mind.
As Minister for Local Government, I encourage investors to partner with the Municipal Council’s on a number of development projects.
There is potential for joint venture projects, such as, sporting facilities, community infrastructure, shopping arcades, waste management infrastructure, to name a few.
Ladies and Gentlemen,
I’m confident that our engagement will carry on to be productive, persistent and progressive, underpinned by both of our countries’ long-standing economic and strategic interests.
I look forward to exciting initiatives and successful partnerships emerging from this seminar.
Ladies and Gentlemen
With much pleasure, I declare the Fiji-Japan Trade and Investment Seminar open.
Thank You, Vinaka Vakalevu.