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Fiji Business Gateway

Embassy Lobbies US Authorities for Increased Access for Fiji Sugar Into the US Market
The Embassy today sought increased access for Fiji sugar into the US ...




Fijilive News - Fiji Safe and Easy for Business: World Bank
Despite the political upheaval, Fiji has been ranked the highest in the Pacific ...




Reserve Bank of Fiji Announces Policy Changes
The Reserve Bank of Fiji today 14 May, 2008 announced some relaxation to ...




Recruitment of Workers for Canada to Start Soon
Nearly 70 workers will soon be recruited from Fiji to work in British Columbia ...




Whistler Needs Fiji Workers
Whistler Blackcomb Ski Resort approximately 115 km from Vancouver ...




Fruiticana Focus on Fiji
Award winning-Fruiticana, a big food company in Surrey Canada specializing ...




Fiji Seeks Help to Combat Counterfeit Goods
The Fiji High Commission to Canada is seeking the assistance of the Royal ...





Nine-fold Increase in Exports to Canada
Exports to Canada from Fiji increased nine-fold in January compared to last ...

Fiji: An Established Regional Trading Partner

According to the Asian Development Bank, Fijiís economy, one of the Pacificís most forward and developed, has grown by about four percent a year every year since 2001. The Government of Fiji reported that the growth was driven by a recovery in the tourism industry as well as by improved performance in mining, the harvesting and processing of mahogany, and fresh fish exports.

Forward-thinking Fiji offers new opportunities in the growing high tech and telecommunications sectors where the government is offering a variety of incentives. The IT services industry, such as call centers are particularly appealing.

Fiji's two largest exports are sugar and garments, accounting for about 40% of export revenue in 2005. The Fiji garment industry has developed rapidly since the introduction of tax exemptions in 1988. The industry's output has increased nearly ten-fold since that time, although it declined rapidly in 2005 due to the expiry of a bilateral agreement with the United States.

Other export crops include coconuts and ginger. Fiji has extensive mahogany timber reserves, which are only now being exploited. Fishing is an important export and local food source. Gold and silver are also exported. The most important manufacturing activities are the processing of sugar and fish. Since 2000, the export of still mineral water, under the Fiji Water brand, mainly to the United States, has expanded rapidly. By December 2005, it amounted to more than $68 million per year. Another growing export is furniture made of palmwood.

In 2005, Fiji's main export partners included Australia (25%), the United Kingdom (21%), the United States (20%), Japan (8%) and New Zealand (6%). The country's main import partners are Singapore (30%), Australia (25%), New Zealand (18%) and United States (4%). Major imports include manufactured goods, machinery and transport equipment, petroleum products, food and chemicals.

Fiji is a member of the WTO and a signatory to a number of other trading pacts. Of these, the more notable are the Cotonou Agreement, which provides access to European markets, the GSP Agreement, providing access to the US, Canadian and Japanese markets, and SPARTECA, allowing for preferential access to markets in Australia and New Zealand.

Fiji is also a signatory to the United States/Pacific Island Nations Joint Commercial Commission. Proposed by US President George H.W. Bush and signed in 1993, the JCC was created to promote commercial relations between the United States and the independent Pacific island nations, including Fiji.
On August 18, 2001, at the 32nd Pacific Islands Forum in Nauru, the Pacific Agreement on Closer Economic Relations (PACER) and the Pacific Island Countries Trade Agreement (PICTA) were signed. PACER provides a focused framework for strengthening trade and economic cooperation among all Forum members. Under the PACER framework, PICTA provides for the establishment of a free trade area among the 14 Forum Island Countries.