July 20, 2012

Use Fiji to tap Pacific market: PM


Prime Minister Voreqe Bainimarama this week met with Korea's private sector companies and informed them of investment opportunities in Fiji and the Pacific.

He said investors could use Fiji as a base to grow in the Pacific because of its strategic location in the region.

The Head of Government together with the Minister for Foreign Affairs Ratu Inoke Kubuabola, senior government officials and Fijian business officials have over the past few days met with many Korean business counterparts on the possibility of using Fiji to tap the Pacific market.  

"Fiji has many exciting investment and partnership opportunities for Koreans. We offer a number of attractive incentives for investment. Our geographical location in the South-pacific, coupled with modern infrastructure, telecommunications and financial services makes Fiji a natural hub for investment," Prime Minister Bainimarama said.

"Fiji is a developing market in all of these sectors and is actively seeking investment and knowledge transfer and in addition to creating an environment that is conducive to investment, Fiji also has the ability to offer many niche export products that are not available elsewhere in the world."

Trade between Fiji and Korea has been steadily increasing due to both governments' efforts to forge closer ties.

In 2011, trade increased by 32 per cent to $82,146 million.

"As international trade continues to increase and Fiji's economy continues to expand, my Government is committed to ensuring that transparency, stability and integrity form the foundations of our economic development. This instills confidence in those looking to conduct business in Fiji," Prime Minister Bainimarama said.

He added that there was also great potential for partnership in science, medicine, and technology.

"We have been a leader in the Pacific for ensuring that our products comply with international standards and many of our products take advantage of our pristine environment," he said.

These products have proudly been displayed at the Yeosu Expo over the course of the past month.

The Bainimarama Government has launched the Fijian Made and Buy Fijian initiative, which seeks not only to develop awareness within Fiji, but also to highlight its unique products in the international marketplace.

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