Speaker of Parliament, His Excellency, Ratu Epeli Nailatikau
The Acting Prime Minister, Minister for Defence, National Security and Policing, Hon. Inia SeruiratuChief Justice, Hon. Kamal Kumar
Ambassador of the Republic of Korea to the Republic of Fiji, His Excellency Young-kyu Park
Excellencies and representatives of the Diplomatic corps,
Representatives of the private sector and partners
Ladies and Gentlemen,
Bula Vinaka and a very good afternoon to you all.
After months of virtual meetings, it indeed is a pleasure to be here in person this afternoon to Commemorate the 50th Anniversary of Korea-Fiji relationship and to launch the Fiji-Korea E-Trade Exposition.
Before moving on, I wish to congratulate both Fiji and Korea on this 50 years of journey.
Over the years, the Republic of Korea has remained a dear friend. They have supported our socio-economic development aspirations as well as capacity building across a number of areas.
We have seen the value of this friendship even in our hardest time. Ladies and Gentlemen,
I also take this opportunity to acknowledge the ground work undertaken in establishing the KOICA Pacific Office in Fiji. I am confident this will boost KOICA’s presence in Fiji and the Pacific Region.
I look forward to a continued partnership in years to come.
Ladies and Gentlemen,
Moving on to the Fiji-Korea Trade Expo, being held today, which is a collaboration between Investment Fiji and the Embassy of the Republic of Korea. I commend the efforts of the Embassy of Korea and Investment Fiji, to successfully establish this innovative digital platform.
This exhibition provides an avenue to both Fijian and Korean stakeholders to exhibit a wide range of products and services. I am aware that the exposition will showcase over a thousand products and services. Various renowned brands and companies, both from Fiji and Korea are set to exhibit in sectors such as:
– Fijian Made and Korean Made Products;
– Health and Cosmetic;
– Health and Medical Equipment;
– Food and Beverage;
– Fashion and Apparel;
– Manufactured Goods;
– Primary Industry and Business Services. As well as, allow for greater collaboration and match- makings between the traders of both sides.
Ladies and Gentlemen,
Events such as these are timely and contribute towards Fiji’s economic recovery and rebuilding efforts. There is no need for me to re-illustrate the mayhem we have endured in the past two years, due to the COVID-19 pandemic. Decades of economic growth have spiraled downwards, however, there are opportunities that have been spurred by this adversity.
The recent 2021/22 budget provides numerous regulatory changes, low and competitive tax regime, and introduction of attractive tax incentive packages across a number of sectors, with a focus on economic diversification, making Fiji a more viable environment for doing business.
There are various duty exemptions and tax holidays available for investments in:
● agro-processing,
● recycling sector,
● manufacturing of pharmaceutical products,
● new projects relating to construction of new hotels and integrated tourism development sites, and,
● infrastructure that supports the BPO sector, such as contact and data centres.
There are also major incentives for investment in ICT enabling infrastructure and services, such as ICT cable landing and associated infrastructure, accredited training institutions and ICT start-ups and a 200% tax deduction on the development or upgrade of online shopping websites with integrated payment platforms.
Many of these sectors and industries are of bilateral interest and through today’s expo we will be able to further explore the opportunities that are available.
Ladies and Gentlemen,
Working with our private sector, the Fijian Government has also engineered efforts towards creation of progressive business environment. We have streamlined business procedures, undertaken legislative reforms and adapted to digitalisation of systems and processes.
Ladies and Gentlemen,
An effective health response has enabled us secure a sustainable foundation for our economic recovery. Over 96.5% of our target population have had their first dose to date and 87.5% fully vaccinated.
The pace and penetration of the vaccine rollout has presented the best route towards fewer restrictions, recommencement of business operation with COVID-Safe protocols, and the return of international tourists.
In addition to vaccination, a nationwide adherence to COVID-Safe Protocols by Fijians has ensured that Fiji was able to contain the spread of the virus. Hence, this success has led Fiji to reopen its international borders.
Ladies and Gentlemen,
As announced by the Hon Prime Minister, last month, there is a list of over 20 Travel Partner countries, which includes Korea, to which the Fijian borders will reopen for “quarantine-free” travel.
In order for any traveller to qualify for “quarantine-free” travel, they must be fully vaccinated, must have stayed in one of the Travel Partner countries for at least 10 days.
For Koreans planning to visit Fiji, you will be able to move around all Care Fiji Commitment (CFC) certified or approved properties, excursions, and tours, provided you follow the entry requirements, which include:
● Pre-book accommodation at a CFC certified hotel or resort.
● Provide a negative RT-PCR COVID test result (3 days prior to departure).
● Provide proof of being fully vaccinated.
● Must download careFiji app and keep device bluetooth activated at all times.
● Take a Rapid Diagnostic Test at least after 48 hours of being in Fiji.
● Follow all the COVID safe protocols and procedures.
Ladies and Gentlemen,
Indeed, there has never been a more opportune time to take advantage of the numerous business opportunities in Fiji.
This event is timely and blends well with the recovery efforts of both Fiji and Korea. Such efforts show that we are resilient to any challenges presented. The Expo is setting the stage and we need to take advantage now.
Ladies and Gentlemen
With these words, I officially open the Korea-Fiji Trade Expo and wish all organisers and participants a successful event.
Vinaka vakalevu and thank you.