His Excellency the European Union Ambassador for the Pacific, Sujiro Seam,

Deputy Head of Delegation of the EU, Dr. Erja (Pronunciation: AIR-yah) Askola,

The CEO of Investment Fiji, Mr. Kamal Chetty,

Respected CEO’s, Businesses Leaders and Representatives,

Members of the Media,

Ladies and Gentlemen,

I am delighted to address you all today and extend a warm welcome to everyone to the launch of the Fiji-European Union Trade and Investment Forum.

Today marks a significant milestone in our journey towards deepening trade relations and exploring new avenues of collaboration between Fiji and the European Union.

Ladies and Gentlemen,

I stand here today, not only as a representative of the Coalition Government but also as an advocate for a great number of entrepreneurs, innovators and craftsmen who embody the spirit of our great nation.

Through this trade and investment forum, we aim to showcase the best of Fiji and what we have to offer to our European partners while establishing mutually beneficial trade partnerships that will propel our economies forward.

Ladies and Gentlemen,

For Fiji, the European Union has been a vital trading partner, serving as a destination for high-quality Fiji products and services.

I must say, despite the impacts of the pandemic, trade between Fiji and the European Union exponentially increased in 2022 compared to the previous year. The increase was driven by the shipment of sugar to the Netherlands and Italy at the value of approximately FJ$106 Million.

In 2022, Fiji earned approximately FJ$132.4 Million of its export revenues from its EU market – a market which accounts for 10 percent of Fiji’s total exports, stemming from the demand for sugar which constitutes about 81 percent of the value of all export commodities there. Tuna, Ginger and Mineral Water, were among the other top export commodities exported to the EU from Fiji.

Ladies and Gentlemen,

.In addition to trade, we recognise the critical role of investment in driving economic growth. The EU has been a significant source of foreign direct investment, supporting the growth of Fiji’s industries and infrastructure.

At this juncture, I am pleased to highlight that fourteen projects have been registered by EU entities and citizens at a total proposed investment of approximately FJ$68 Million between 2021 to 2022 – displaying the confidence of foreign businesses to invest in Fiji’s potential. These investments have also benefited our people with employment especially in sectors such as Services, Tourism, and Wholesale and Retail to name a few.

We seek to attract more European investors to seize the immense opportunities available in our vibrant economy.

Ladies and Gentlemen,

This Forum  provides a platform to facilitate the exchange of ideas, products, and knowledge.

Ladies and Gentlemen,

In Fiji, MSMEs are the backbone of our economy and the driving force behind our sustained growth and prosperity. They represent the ingenuity, creativity, and resilience of our people.

This Trade and Investment Forum provides a unique opportunity for our MSMEs to showcase what we as a nation have to offer in terms of our products, services, resources, and innovations on an international stage, fostering networking, collaboration, and future partnerships.

Ladies and Gentlemen,

In an era defined by rapid technological advancements and evolving consumer preferences, it is imperative that we adapt and embrace change.

There is a growing need to harness the power of digital transformation, tapping into e-commerce platforms that have already cemented its presence in the county. And for that reason it is important for businesses to leverage technology to expand market reach – an example is Investment Fiji’s “Fiji Trade Expo” website, which showcases over 1,000 products and services from over 70 brands and companies across Fiji.

Ladies and Gentlemen,

The Fiji Government, in collaboration with the European Union, remains committed to providing the necessary support, resources, and training to empower our businesses in this digital age – and sustainability remains the core of our vision for economic growth and development.

Additionally, as custodians of our environment, we recognise the importance of adopting sustainable business practices that protect our natural resources and promote responsible production and consumption. Fiji is blessed with an abundance of biodiversity, and it is our duty to preserve and sustainably utilise these precious assets.

Through the Trade and Investment Forum, we encourage our local entrepreneurs to showcase their sustainable products and eco-friendly initiatives, inspiring others to follow suit.

Talking about the environment, I had the pleasure of attending the recent EU Indo Pacific Foreign Ministers meeting in Sweden.

I was particularly amazed with how rapidly the EU has transitioned and adopted renewable energy technology. This is an area where Fiji can definitely benefit from.

Additionally, one of Fiji’s priorities is our vulnerable communities that have been adversely affected by climate change. There is an urgent need to relocate these communities and I call upon partners, such as the EU, to assist us with these efforts.

Ladies and Gentlemen,

This forum represents more than just a commercial endeavor, it embodies the spirit of partnership, collaboration and shared aspirations – an opportunity for us to expand our trade horizons, and foster a greater understanding of each other’s cultures and values.

In closing, I would like to express my heartfelt gratitude to all the participants, exhibitors, and organisers who have contributed to the success of this Fiji-European Union Trade and Investment Forum. Your presence represents the many opportunities that lay ahead of us for a prosperous and sustainable future.

Ladies and Gentlemen,

Tonight, you will hear stories from Fiji and European businesses which I hope will enlighten you on the benefits of investing and trading in Fiji. We hope these stories will inspire  you to innovate and explore.

I extend my gratitude to the European Union for its continued support and friendship over the years. May this Fiji-EU Trade and Investment Forum be a resounding success.

Thank you and Vinaka Vakalevu.